Britons 'need to budget in 2010'
Families in the UK now have more expendable income available to them than they did during 2008, it has been asserted, but taking care to budget is still advisable.
The Asda income tracker survey has revealed a 4.9 per cent year-on-year increase in discretionary income of the average UK household.
However, Martin Bamford, chartered financial planner for Informed Choice, said during the second half of 2010, many people are likely to begin feeling the pinch.
"The combination of higher unemployment, rising interest rates and higher taxes will reduce disposable income," he added.
In light of this, Mr Bamford urged households to carefully assess their expenditure levels and work out areas of spending which could be either reduced or removed.
If it has been some time since finances were reviewed, he stated people could find there are significant savings to be made.
Choosing flats to rent in Blackheath or another part of London could see Britons successfully saving money, as house prices in the capital are higher on average than in the rest of the UK.
Written by Ben Carter
Published 30th December, 2009
© 2009 Estates IT Limited
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