Saturday, October 17, 2009
Category:
Consolidation
According to Scottish Provident, 35 percent of Brits are under the impression that the State welfare system provides an ‘adequate safety net for a modern standard of living’.
This marks a 13 percent increase on the figure recorded in 2003, despite the fact that job seekers allowance has only risen by an average sum of £5.76 during this period.
Although there has been an increase in the number of people that believe the State provides a sufficient safety net to meeting today’s lifestyle requirements, some remain unconvinced. Findings revealed that those between 45 and 54 years of age are the most doubtful, followed by those between 35 and 44 years of age.
The research also revealed a great deal of support for such a welfare system in Britain. In fact, 72 percent of Brits feel that it should ‘provide an adequate safety net for modern standards of living’.
Head of Marketing at Scottish Provident, Susan Barclay, said: "Our report reveals that over the past five years, more people have come to believe that the state would provide an adequate safety net should the worst happen and we find ourselves out of work. However, the reality is that the average increase in job seekers allowance of just under £6 doesn't come close to the cost of living in today's world and the Government will continue to place greater emphasis on people providing for themselves."
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Homeowners who are finding their finances tight as a result of the currently challenging economic conditions could consider taking out a secured loan to consolidate their debts. One of many finance options available, a
secured loan could be used to tie existing debts up in one place. By taking out a secured loan for debt consolidation, the borrower could relieve themselves of multiple monthly repayments and could potentially lower their outgoings. However, when considering a secured loan for debt consolidation, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
