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Loan charges: 'Second job' may be required to meet household bills

In order to avoid loan charges and meet the costs of rising household bills, some families may have to think about taking on a second job.

Mark Bower, managing director at price comparison website moneymaxim.co.uk, explained that these financial challenges facing families at the moment are going to persist until real income starts rising again.

He said: "The steady increase in the cost of household bills has a marked impact, particularly on those currently struggling to make ends meet.

"A few bills rising by £10 or £20 a month can mean a family has to look to either increase earnings by perhaps taking on a second job or by reducing expenditure in other areas."

Mr Bower added that many families feel that there is no end in sight in terms of increases to household bills.

The Department of Energy and Climate Change recently revealed that the number of families considered to be fuel poor increased by one million between 2008 and 2009 to reach 5.5 million households.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.
 ADNFCR-2776-ID-800625293-ADNFCR



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