Household Spending Habits

The Nationwide Consumer Confidence Index fell four points to 61 in June. It is likely that ongoing economic uncertainty, a weakening housing market and the higher cost of food and fuel have all contributed to the growth in negative impact on consumer sentiment.

Brits are battoning down their hatches and taking shelter as the deteriorating economic climate hits home.

New research from Tescocompare.com shows that homeownership does influence Brit's green credentials.

More and more people are falling into financial difficulty because of the increases in the cost of living, rising debts and the impact of the all too familiar "credit crunch".

Rising mortgage or rental costs have forced seven per cent of people to take out a personal loan in the past year.

Commenting on the findings of a Joseph Rowntree Foundation, which showed a two parent family with two children would need an income of £370 a week to afford the basket of goods needed for an 'acceptable' standard of living, Paul Dornan, Head of Policy for Child Poverty Action Group, said:

According to members of the public, a single person in Britain today needs to earn at least £13,400 a year before tax to afford a basic but acceptable standard of living.

The total average amount of debt has decreased steadily - although disposable incomes have dropped and it's taking people longer to become debt free, according to the latest Chiltern Debt Monitor.

Tenants are better placed to ride out the financial pressures caused by the rising cost of living than homeowners, according to new research from MoneyExpert.com.

The rise in energy and fuel prices could push 22 million Brits to ‘go green' sparking a nationwide ‘Greenvolution', reveals new research from Tescocompare.com, the car and home insurance comparison site.