Financial brightness ahead as bleak January draws to a close

 

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Photo Credit: Nicholas_T via Compfight cc

 

With the short, dark days of January behind us, it’s time to look ahead to brighter times as spring approaches – but for many Britons, the financial landscape is still looking bleak.

 

 

Several reports have highlighted the extent to which years of stagnant wage growth, high inflation and the recent cost of Christmas combine to put bank balances under unbearable pressure.

 

For many people, this reached a head on the third Monday of January, the day on which it has been calculated that the economic fallout from Christmas would have reached its worst.

 

According to Lloyds Banking Group, 46% of Brits had to supplement their income somehow just to survive January, either by dipping into their overdraft or savings, or by calling on friends and family.

 

Of course, taking on a second job or paid overtime is not an option when the problem is so pressing, as there may not be time to wait for the first pay slip of the year to drop through the door.

 

The findings were mirrored by OnePoll, who found that one in five Brits dip into their overdraft every single month, and two in five of those, 8% of the entire population, are in the red within a week after payday.

 

For those in business, January carries the extra pressure of filing a tax return – but with that now out of the way too, our upcoming seminar should help you to address any cash flow problems moving ahead into the rest of the year.

 

Due to take place on February 11th at The Dock Centre, Leicester, this free session is a great way to work on any concerns you might have.

 

Book your place on 0116 266 5394 or by emailing louise.o@ehlsolicitors.co.uk

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