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Loan charges: Brits feel 'worse off' than they did a year ago

Almost half of all Brits feel worse off than they did a year ago, according to a new survey.

Comparison website found that 49 per cent consider themselves worse off than 12 months ago, seven per cent higher than the figures from July 2012.

As a result, a fifth of Brits are worried about their finances and a quarter (23 per cent) say they run out of cash before payday after spending money on bills and loan charges.

Despite this, an astonishing quarter (24 per cent) of Brits have never switched the most common 20 finance products, such as insurance, mobile phone operators and energy providers.

"Don't accept your insurance renewal quotes or energy tariff changes without checking that the new price is competitive, and take time once or twice a year to review your finances and check that you are not paying over the odds for your household bills," said John Miles,'s business development director.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801489607-ADNFCR

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