5th Jan '09 - Pressure Eased 'By Price Drop'
Posted on Monday, January 05th, 2009 at 12:53pm
Households may find they have more money in their pockets after one sector commentator claims that inflation is set to ease during 2009.According to a spokesperson for NS&I, as inflationary pressures lessen on home food, fuel and utility bills, people will find they have more disposable income.
But it will take the strength of their will to put this money to one side, rather than spend it.
Indeed, placing extra cash into a life insurance policy could result in financial stability for a household should a family member bringing in an income be diagnosed with a serious medical condition.
"A really worrying fact is that about 12 per cent of people are saying they either didn't have the time, or didn't see the need to save," the spokesperson says, adding that few individuals are in a position where they do not need to put money away.
Such people may include those with partners, children or a mortgage, all of which may need financial support - through critical illness cover, for example - should the worst happen.
Meanwhile, Friends Provident found that Britons think that £832 a month is the average amount they will need to live comfortably during retirement.
Bookmark with:
