Britons 'struggle to meet bills'
As many as 12 million Britons - 25 per cent of the population - are struggling to meet their bills each month as the credit crunch rumbles on, a new study has revealed.
The Bright Grey Reality Gap Report by Opinium Research has also revealed that if bills rise by just £50 a month, this figure could potentially rise to 39 per cent of households (18.8 million).
Furthermore, the study revealed that essential outgoings account for 68 per cent of the average household's income, some £1,378 a month.
Commenting on the findings, Roger Edwards, proposition director at Bright Grey, stated: "The frightening truth is that many Brits are already struggling to afford their monthly bills - and all it would take is a small increase in bills or drop in income for people to find themselves in trouble."
However, by choosing flats to rent in Hampstead or another part of London, rather than being a home, people may find they have more cash left over once essential expenses have been met.
The Independent's Rhiannon Harries recently stated she was happy to continue renting, rather than buying a house.
Written by Andy Britten
Published 24th September, 2009
© 2009 Estates IT Limited
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Many households are continuing to struggle with essential bills, although paying rent may bring their outgoings down compared to a mortgage.