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Rising prices affecting consumer view on how much money they need
24/04/2008 14:04:00
Increasing strains on personal finance due to rising prices are affecting consumers' view on how much money they need to survive, a finance writer has claimed.
According to Corrine Sweet, uncertainty over the future of their finances and economy means consumers believe they need increasing amounts of money to live on.
The finance and relationships author, said: "It's probably a sign of the times with the credit crunch and costs going up at the moment that people are feeling a bit wobbly and they feel they need something to buff themselves against whatever crisis is to come."
Emma Byrne, a savings expert added that the fact that grocery bills have risen to £800 may be making consumers unsure.
Research from Kaupthing by Opinium from April 2008 showed that men felt they needed an average of £101,999 to be financially secure whereas women said they needed £82,193.
The overall average was £92,507.
Meanwhile, one in 50 people said they would leave their partner if they were financially secure.
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