UK living costs at least £14,400
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers
Publish Article
0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Login
Login via
Register
Hello
My Home
Sign Out
Email
Password
Remember me?
Lost Password?
Home Page > Finance > Credit > UK living costs at least £14,400
UK living costs at least £14,400
Edit Article |
Posted: Nov 13, 2010 |Comments: 0
|
]]>
Low earners are still struggling to achieve a minimum standard of living as costs continue to rise despite universal pressure on wages and benefits.
The highly influential Joseph Roundtree Foundation (JRF) has published its annual update on the public’s opinion on what people need to earn to achieve a socially acceptable standard of living.
Despite the harsh recession, the public involved in the research haven’t reduced what they consider to be life’s bare necessities. They still feel as a minimum people need not just physical essentials like shelter, warmth and food but also things that allow them to participate in Society, and to have a life.
JRF calculates that a UK family of two adults with two children needs an annual income of at least £29,200 to afford the basics of life. For a single person the minimum is £14,400 – equivalent to full-time job earning £7.38 an hour.
Inflation has caused the cost of a minimum household budget to rise by 3% to 4% in the year up to April 2010, in line with general inflation. However a new part of the JRF study shows that over the past ten years the rising cost of public transport, food, and other essentials means the minimum budget costs 38% more, despite general inflation running at just 23%.
Consequently a single person who in the year 2000 could afford a minimum basket of goods and services (but whose income had just risen by the official inflation rate) would be £19 a week short of being able to afford the same basket in 2010 – a net fall in their living standard of over 10%.
Interestingly a computer and home internet connection are now considered vital for all non-pensioner households, according to the groups involved in the study In 2008, they were only considered essential for families with school-age children. As early as 1999 JRF were predicting that those with lower incomes were going to be excluded from the rapidly growing ‘electronic economy’ where increasingly everything from utilities to credit cards were going to be sourced and compared online.
JRF calculated that a £1,000 rise in tax allowances from next year would help some low income families making them £320 a year better off (after inflation) if both partners worked.
But as it appears that the new Government’s plans to increase benefits only by the ‘Consumer Prices Index’ in future, as opposed to the higher ‘Retail Price Index’, those on benefits look set to become increasingly worse off in real terms.
Retrieved from “http://www.articlesbase.com/credit-articles/uk-living-costs-at-least-14400-3661094.html”
(ArticlesBase SC #3661094)
Liked this article? Click here to publish it on your website or blog, it’s free and easy!
Peter Robinson -
About the Author:
Everyone these days seems to want to compare credit cards, Peter Robinson is a personal finance writer for Cardchoices – a UK website offering the latest credit card news and consumer information on the best credit card deals.
]]>
Questions and Answers
Ask our experts your Credit related questions here…
Ask
200 Characters left
How many people are living in poverty in the uk?
I have a mortgage with abbey i cant afford/ id like to transfer the mortgage to another cheaper property to keep the cost down only i went to a debt company for my credit cards and now on a debt plan
I would like to send my 14 year old son alone to Portugal for holidays where his father is. We are Portuguese citizens as well as his father and we both are living in UK. What must i do?
Rate this Article
1
2
3
4
5
vote(s)
0 vote(s)
Feedback
RSS
Print
Email
Re-Publish
Source: http://www.articlesbase.com/credit-articles/uk-living-costs-at-least-14400-3661094.html
Article Tags:
jrf, uk living costs
Related Videos
Related Articles
Latest Credit Articles
More from Peter Robinson
How to Use Modular Sofas in Your Living Room
Christopher Lowell teaches you how to use modular sofas in your living room. (02:35)
How to introduce Green Living into Your Home
Learn how you can introduce green living into your home by changing your food purchasing habits. (04:45)
How to Host a Lively Dinner Party
Jill Davie teaches you how to host a lively dinner party and avoid those awkward silences. (01:01)
How to Start Living Healthily
Learn how you too can start living healthy and what you should remember in your first workout days. (01:00)
Free iPhone games
Download these games and you will be guaranteed more fun in your life at no cost. (02:53)
Why Employ European Union Workers?
The European Union (EU) is curently made up of 25 independent, democratic, member states. If combined they would represent the worlds largest economy by GDP, the seventh largest territory in the world by area and the third largest by population.
By:
Davinos Greenol
Business>
Human Resourcesl
Dec 19, 2006
lViews: 427
Building Credit Answers – Questions and Answers
Let’s face it, there are many things you should know about establishing credit from the ground up and after a damaged file. In this article, I will address the most common questions posed to me daily.
By:
Mark Claybornel
Finance>
Creditl
Jan 31, 2011
Eurozone travel made easy with a prepaid MasterCard® card
An innovative alternative to the hassles of exchanging currency is a prepaid card. Prepaid cash cards have become increasingly popular in recent years. This means that people who may not have access to a credit facility or bank account are still able to benefit from the ease of owning and using a MasterCard®.
By:
zaccolbertl
Finance>
Creditl
Jan 31, 2011
Credit Bureau In South Africa Functions And Obligations
Consumers have the right to file complaints regarding records at a credit bureau, South Africa based. The first step is to contact them to correct information on their records. If the complaint is not addressed the consumer can contact the Credit Information Ombudsman or the NCR for assistance.
By:
Isebell Gauchel
Finance>
Creditl
Jan 31, 2011
National Credit Regulator To Enforce National Credit Act
They investigate complaints by for instance, consumers about reckless lending practices by credit providers, non-compliance with regulations of the Act by for instance, debt counsellors, and unethical practices followed by credit providers in the country. The also, research credit spending, oversees policy development and education regarding credit and debt in the country.
By:
Isebell Gauchel
Finance>
Creditl
Jan 31, 2011
ITC Credit Bureau Records For Consumer Payment Histories
Banks and financers as well as stores make extensive use of such services to quickly assess whether a consumer is blacklisted or is a general debt risk. If a consumer is already over exposed to debt, the credit provider on the grounds of the ITC Credit Bureau listing may refuse to extend a loan to the consumer.
By:
Isebell Gauchel
Finance>
Creditl
Jan 31, 2011
NCR Debt Help To Protect Against Overspending By Consumers
NCR debt help is regulated by the South African National Credit Act No. 34 of 2005. Seen by many as a life saving act in terms of consumer protection against reckless lending practices by credit providers in the country, the Act has also made provision for the establishment of the NCR for debt help and credit control.
By:
Isebell Gauchel
Finance>
Creditl
Jan 31, 2011
The Best Free Credit Checking Facilities Online
Consumers in Australia can get a free copy of their credit report to get a credit check done on them. This article defines the process of getting a free credit check report in Australia as the process is different in each country.
By:
seosarojl
Finance>
Creditl
Jan 31, 2011
Yearly Free Credit Score – Essential For The Approval Of The Loan
Yearly free credit score will help you get your credit particulars. Whenever there is need for the credit facility then you must essentially first apply for you credit score details.
By:
Ryan Davisl
Finance>
Creditl
Jan 31, 2011
Credit Card Rate Gap Uncovered
The Bank of England (BoE) has kept interest rates on hold for the 18th month in a row, but the interest rates charged by credit card companies continue to rise. We explore why and offer some ideas on how to overcome spiralling rates.
By:
Peter Robinsonl
Finance>
Creditl
Nov 13, 2010
Councils under fire on credit card rip off
In a worrying trend started during the credit crunch by airlines and holiday companies, some local authorities are now adding up to 3% to their bills for services if customers chose to settle by credit card. We explore the reasons and ask if the charges are justified.
By:
Peter Robinsonl
Finance>
Creditl
Nov 13, 2010
Consumers in control with comparison sites
New research shows that consumers enjoy the flexibility and control that comparison websites give them, but the clear and open way that information is presented is making them more demanding, and less loyal to established brands.
By:
Peter Robinsonl
Finance>
Creditl
Nov 13, 2010
Credit Card Fraud October Update
Fraudsters are turning the tables on the credit card companies this month by setting up websites that impersonate the credit card issuers own security systems in a bid to steel customers personal information.
By:
Peter Robinsonl
Finance>
Creditl
Nov 03, 2010
Make your credit cards sweat whilst you can
More turbulence in the credit card industry with American Express being sued in the USA. We advise making the most of Balance Transfer Credit Cards.
By:
Peter Robinsonl
Finance>
Creditl
Oct 25, 2010
New OFT warning on debt write off companies
Rulings in the High Court have prompted the OFT to release a new consumer guide on unenforceable debts, advising caution when using ‘debt management companies’.
By:
Peter Robinsonl
Finance>
Creditl
Oct 19, 2010
Positive Payment Order Affects Card Market
We look at the popularity of 0% balance transfer credit cards & offer pointers on how to get the best out of them ahead of the move to positive payment order.
By:
Peter Robinsonl
Finance>
Creditl
Sep 26, 2010
American Express, take a look if you travel
On the anniversary of American Express’s UK launch, we look at the business model, profile & products including Gold, Platinum & Cash Back credit & charge cards
By:
Peter Robinsonl
Finance>
Creditl
Sep 11, 2010
Add new Comment
Your Name: *
Your Email:
Comment Body: *
Verification code:*
* Required fields
Submit
Your Articles Here
It’s Free and easy
Sign Up Today
Author Navigation
My Home
Publish Article
View/Edit Articles
View/Edit Q&A
Edit your Account
Manage Authors
Statistics Page
Personal RSS Builder
My Home
Edit your Account
Update Profile
View/Edit Q&A
Publish Article
Author Box
Peter Robinson has 14 articles online
Contact Author
Subscribe to RSS
Print article
Send to friend
Re-Publish article
Articles Categories
All Categories
Advertising
Arts & Entertainment
Automotive
Beauty
Business
Careers
Computers
Education
Finance
Food and Beverage
Health
Hobbies
Home and Family
Home Improvement
Internet
Law
Marketing
News and Society
Relationships
Self Improvement
Shopping
Spirituality
Sports and Fitness
Technology
Travel
Writing
Finance
Accounting
Banking
Credit
Currency Trading
Day Trading
Debt Consolidation
Insurance
Investing
Loans
Mortgage
Personal Finance
Real Estate
Taxes
Wealth Building
]]>
Need Help?
Contact Us
FAQ
Submit Articles
Editorial Guidelines
Blog
Site Links
Recent Articles
Top Authors
Top Articles
Find Articles
Site Map
Mobile Version
Webmasters
RSS Builder
RSS
Link to Us
Business Info
Advertising
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2011 Free Articles by ArticlesBase.com, All rights reserved.
