- Wednesday, 23 December 2009IVA help may be needed by many families in the coming year, following predictions that point to higher unemployment, rising interest rates and higher taxes.
A new survey carried out by supermarket group Asda reveals that families are £8 better off than they were a year ago. However a significant rise in transport costs - up 6.9 per cent - and a weak annual increase in discretionary incomes suggests 2010 may be another difficult year.
Commenting on the findings, financial expert for Informed Choice Martin Bamford said many families would start to "feel the pinch" by the second half of next year.
"The combination of higher unemployment, rising interest rates and higher taxes will reduce disposable income," he said.
"Families should be planning ahead, rather than living month to month. In the short-term, they should do what they can to pay off expensive unsecured debts, such as credit cards which are likely to be used over the Christmas period."
The cost of filling an average 55 litre tank with unleaded petrol has risen by 18 per cent from £49.01 in December 2008 to the current rate of £59.67.
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