A charity, that provides money education, has called for consumers to "tighten their belts financially" and cut out unnecessary expenditure, to limit their risk of debt, in the wake of the rise in inflation.
The Charity, Credit Action, has advised that spending cut-backs, budgeting and better financial discipline, at home are the best ways to weather the storm, as the prices for food, energy and borrowing continue rising.
Credit Action director Chris Tapp, said: “There is not a nice and easy silver bullet answer allowing people to continue buying all the same things that they have previously and living the same kind of lifestyle.”
He added: "For most people what it is going to mean is looking for ways to cut back."
His recommendations, come in line with the rise in inflation being at its highest for 13 months, in April according to the Office of National Statistics.
According to Capital Economics, as reported by the BBC, the proportion of domestic income needed to cover bills and food has risen by six per cent over the last six years, with little sign of easing in the near future.
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