No Improvement In North East Finances
15 April 2015, 08:57
A benefits advice charity has revealed the majority of low-income households in the North East didn’t see their financial situation improve in the last year.
The report by Turn2Us found 85% of families in our region weren’t any better off than the previous year, meanwhile almost half had actually seen their finances get worse.
This means people here are even cutting back on food and heating bills in order to get by.
The report also found that thousands of families across the UK are on the edge of poverty, with almost 3 in 10 saying that being made redundant, car repairs, and having their working hours cut would put them into debt.
Meanwhile, households that have experienced just one change in their circumstances are now twice as likely to be struggling financially.
It found that the knock-on effect of this is severe, with 60% of low-income families admitting they are worried about their financial situation, and 58% said that money worries had negatively affected their health.
The research, which coincides with the start of Benefits Awareness Month found that almost 7 in 10 families have struggled to pay for food and energy bills over the past 12 months, and 32% have cut back on food to make ends meet.