Younger generation struggle to pay winter bills
Published On 13 December 2006
Under 30s may struggle to pay the higher bills associated with the winter season, new research has suggested.Figures from Birmingam Midshires' Saving Britain campaign have found that in the penultimate quarter of 2006, 31 per cent of under 30s had to raid their hard earned savings to meet the cost of unexpected bills.
And the survey found that with energy bills rising by 38 per cent in the last year alone, this situation is set to get worse.
Interestingly, the study highlighted that it was the over 50s who are best equip to handle these increases in bills with just 22 per cent of this age group raiding savings to pay for unexpected bills in the last quarter. This compared to 26 per cent of people between 30 and 50 years old.
Jason Robinson, Birmingham Midshires spokesman, said: "Our latest findings make for worrying reading as we move into the coldest season of the year.
"We all know that Christmas can be an expensive celebration and Brits need to make financial provisions in order to cope with the the seasonal generosity as well as the increase in bills over the winter months.
"Putting aside a little and often will ensure there is enough money in the rainy day account to cover most eventualities over the festive period."
