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Financial Sacrifices You Have to Make

Financial Sacrifices You Have to Make

According to the researches conducted on English consumers, millions of UK residents are making huge sacrifices just to be able to pay their utility bills. Many families cut back on their usual expenses such as food and other essentials just to be able to pay for electricity, gas, and heating. Many consumer groups and charity foundations have long feared that this will come to happen.

Many of these charity organizations have been requesting the UK government to start helping the struggling part of the UK’s society. The elderly have been the most in need of help in this period, not being able to leave the house or go online to switch utility suppliers for better deals.

Can’t pay the bills? Payday loans can help.

The same type of research conducted several years ago showed that 44% of the interviewed consumers had to cut back on day-to-day expenses just to be able to pay the bills at the end of the month. There are solutions to help people that are unable to pay all their monthly bills. Payday loans can help people pay their utility bills on time and avoid arrears.

The same studies showed that 65% of UK citizens were shocked at the size of their utility bills even though during the same period, the six important utility suppliers in the UK were cutting prices. The spokesman for Consumer Focus, Jonathan Stearn commented that it is a disgrace that huge bills during the winter period cause so much misery for people with low income, the elderly, or people that are unable to work.

In a statement following the completion of the research.

Utility bills on the right track.

Thankfully, utility prices have started to return on the right track. However, some families are still struggling. One of the leading British electricity suppliers has started to cut the prices by 8% per month, leading to £43 savings on electricity bills. That may not seem much but it is a solid indicator that the utility providers understand the situation and are working to fix it. While payday loans can be used to help with some payments and avoid being swamped in unpaid bills, they are not to be used over large periods of time due to the high-interest rate payday lenders charge.

Many of the UK’s leading gas and electricity suppliers have started to cut down on their prices and for those people that are still unable to pay all their bills by the end of the month, new payday lenders provide short-term loans that almost anyone can apply for. With short-term loans, you can borrow from 200. Even the lowest amount you can borrow will help a family that cannot pay all the bills and will make sure they have enough to buy some essential goods. This is a good method to ensure you do not stack up on unpaid bills, but remember that because of the high-interest rate lenders charge, you should pay back the short-term loan as quickly as possible.

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