Over the last month Turn2us have been looking at how finances in households. They found that despite the economy recovering 83% of low income households are not seeing their financial situation improving. Even more scarily they found that is households have experienced just one change in their circumstances that are twice as likely to be struggling financially.
Households that experienced things in life like family breakdown, childbirth, change in working hours or the onset of illness or disability where interviewed and 58% where found to say that their outgoings now significantly exceeded their earnings. 34% said their debt levels worsened. These financial struggles are continuing for the poorest in society. With the gap between the richest and poorest widening its no wonder that the proportion of households unable to maintain an acceptable standard of living has risen by nearly a third.
Despite all of this 33% of low income households had not even checked their entitlement to benefits. Its easy to do and it can be online, whats more its confidential. Check out Turn2us to check your entitlement.