Welcome!

News Feed Item

Increase Cost in Utilities and Fuel Causing the Biggest Strain on Consumer Finances, Warns Callcredit Information Group

One in Three Currently Unable to Save Anything from Their Monthly Salaries

LEEDS, UNITED KINGDOM -- (Marketwire) -- 12/10/12 -- Independent research commissioned by Callcredit has today revealed that 30% of consumers are finding it increasingly difficult to put any of their salaries aside each month as financial pressures continue to squeeze take home pay.

Key Findings:


--  50 per cent of people who currently have debt have a form of unsecured
    loan. 
--  30 per cent of those aged 18-24 think it will take be between 5 and 10
    years to pay off their debt. 
--  30 per cent of those who have an income say they save none of it. 
--  Just over a fifth saves only between 1-5 per cent. 
--  24 per cent confirmed that the cost of Utilities is putting the biggest
    strain on their finances. 
--  39 per cent of people think that they will spend less money this
    Christmas than they did at Christmas 2011. 

With average credit card and loan balances remaining broadly constant over the last eighteen months the signs are that consumers are finding it more and more difficult to make ends meet, often using their entire take home pay to keep up with the rising cost of living and repayments on financial commitments such as mortgage, credit/store card, overdraft and unsecured loans.

The YouGov research showed that 45 to 54 year olds seem to be feeling the most pain with 40 per cent confirming that they save nothing at all each month and a total of 63 per cent confirming that the cost of either, food, utilities or mortgage repayments were causing the most strain on their finances.

In addition respondents were specifically asked if they would be cutting back on spending this Christmas as a direct impact of the economic climate with 39 per cent confirming they would be intending to do so. However for those with three or more children this figure jumped to 52 per cent.

Graham Lund, Managing Director, Callcredit Information Group said, "These findings demonstrate that many people are living on a financial knife edge with little or no room to cope with changes in their financial situation. The freeze in the planned January fuel duty announced by the government will no doubt help consumers but as financial pressures continue to mount it is now more important than ever that consumers' don't overstretch themselves."

Notes to editors:

Research information

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2037 adults. Fieldwork was undertaken between 30th November and 3rd December 2012. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About Callcredit Information Group - www.callcredit.co.uk

Callcredit Information Group's leading approach to deploying consumer information brings together experts across the fields of credit referencing, marketing services, interactive solutions and consultative analytics to provide businesses and consumers with a range of innovative products and services.

In a first for UK consumers, Callcredit launched Noddle (www.noddle.co.uk), a service that offers people free access to their personal monthly credit reports for life.

Callcredit's business solutions are designed to help companies discover new customers and improve their engagement with existing customers. Products include award-winning fraud verification tools, consumer marketing data and segmentation to improve customer understanding, global operations to help expand businesses into new markets, and digital / interactive solutions.

Callcredit are experts on the subject of affordability assessment and have a suite of data products that allow lenders to achieve a complete view of customer's finances.

Callcredit also offers bespoke debt recovery and tracing tools, and market analysis and network planning for a range of sectors.

Contacts:
Callcredit Information Group
Duncan Bowker
PR Manager
0113 388 4300 or Mobile: 07557 263 660
[email protected]

Callcredit Information Group
Lucy Smith
Press Officer
0113 388 4300 or Mobile: 0786 739 5104
[email protected]

Callcredit Information Group
Amy Bhavra
PR Officer
0113 826 6845 or Mobile: 0755 716 2990
[email protected]
www.callcredit.co.uk

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...