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PPI Refunds: Consumers 'want money to stretch further'

PPI refunds may help consumers who have admitted they are struggling to cope in the current economic climate.

Yorkshire Building Society conducted research which found 96 per cent of people are seeking ways to improve their financial situation.

The study indicated 49 per cent of consumers acknowledged that they need to be more sensible in their purchases, while 39 per cent believe their salary does not stretch as far as it used to.

Discount vouchers, supermarket offers and more home cooking were the most common money-saving exploits in the building society's survey.

"Whilst it is impossible to predict what happens in the future, investors need to be aware of the spending power of their money," said Yorkshire employee Simon Broadley.

The Financial Services Authority last month revealed that banks and PPI providers have already paid out a total of £215 million in compensation for mis-selling PPI this year.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-800742920-ADNFCR

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