The Daily Mail reported on Saturday that British families are £6,000 worse off than three months ago. “Savers with large pension pots were the worst hit after the stock market collapsed in August. But soaring energy bills, dwindling house prices and the high cost of groceries have also taken their toll on households’ total wealth.”
The third quarter of the year between June and September saw the biggest drop since reports beginning in 1997 by investment company Alliance Trust. Economic activity has slowed, there’s been a rise in unemployment, higher inflation causing higher basic goods prices and a loss of real spending power is hitting household budgets.
You can read the full story here and even email journalist Peter Campbell if you want to share your two penny’orth on your experiences.
How do you think we can beat these recessionary pressures? Let’s compare notes.