UK Statistics show that one in six children live in poverty. Middle class families are now progressively falling into debt as the cost of living continues to rise. People are finding it extremely difficult to maintain a comfortable standard of living without falling behind in their payments. Although interest rates are at the lowest they have been in years, many families are still struggling to make ends meet. (I know this first hand as a member of a church which runs a food bank. Week after week working professionals and families with multiple incomes rely on it for their daily bread).
Another compounding issue is the requirement by government for us all to work longer in order to contribute to their pension shortfall. An extra FIVE YEARS longer than the original expectations. And if that’s not enough to make you die early, banks are also not paying much interest on our investments and savings – which means our hard earned cash savings are earning little or nothing – and perhaps in reality – more so the latter.