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Families seeking help with debt may be affected by inflation

Families seeking help with debt may be affected by inflation

- Monday, 28 March 2011

Families dealing with debt problems that are being affected by an increase in inflation may want to shop around for the best deals.

Brits may be faced with increasing costs in food and fuel, as inflation rose to 5.5 per cent in February.

Annie Shaw, editor of cashquestions.com, advised families, including those seeking debt advice, to shop around.

She said: "It makes it even more important for families and especially those on a limited budget to be always looking for the best deal.

"Shop around, make sure you are getting the best deal on your food; drive carefully [to] save fuel by reducing the speed."

Other suggestions included looking for bargains and not neglecting savings, as this can provide cautious Brits with a financial safety net.

Some people may benefit from the Budget, which was announced on March 23rd, as the chancellor revealed some money-saving schemes.

This included reducing fuel duty by 1p per litre, which may benefit drivers, and a new scheme that enables first-time buyers to borrow their deposit from the government in the form of a low interest loan.

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