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Council Tax Advisors

a major reason for this lack of confidence is the impact of inflation on the already-high cost of living in the country

Absolute Digital Media

The reaction comes following an article in consumer advice publication This is Money detailing a new study that suggests there are twice as many people in Britain who believe their finances are set to worsen through 2015 than there are people who believe theirs will improve.

In the context of the whole population, the study states that up to one in five people across the United Kingdom believe the financial forecast is set to be more difficult than 2014, whereas only one in ten think the opposite. The report cites a major reason for this lack of confidence is the impact of inflation on the already-high cost of living in the country, with around 54 per cent of those asked believing it to be a major reason why their finances may continue to decline over the next twelve months.

Similarly, 36 per cent of people believe their monetary situation may be at risk due to a lack of a pay rise, despite the aforementioned cost of living set to increase for another year. Fearing a pay cut was felt by 17 per cent of those asked, compounding a grim report for Britons this year.

Chris Richards, Managing Director of community advice and debt support service Council Tax Advisors CIC (CTACIC), has released a statement following the report. He said: “With the festive period well and truly behind us, it appears many people are waking up to the realities that face them in the coming twelve months.

“The figures from the study really help paint the picture of the general feeling of the average person in today’s society. Pessimism regarding finances – and with that anxiety and, in some cases, depression – appears to be a staple of many people’s lives and it makes for troubling reading. However, it is important people do not feel these are problems that leave them isolated from support.

“Here at CTACIC we have a team that are committed, through expert and impartial advice, to finding solutions to personal debt problems. The stigma regarding money trouble should not be something that continues to stand in the way of people getting back on their feet, and that is exactly why organisations such as ours are so important.”

Council Tax Advisors Community Interest Company (CIC) is a not-for-profit organisation offering free and independent advice and resolution services to those in council tax arrears or any other kind of debt. Formed in 2012 as a direct result of personal experiences with bailiffs, they specialise in providing advice and guidance on how best to deal with debt situations and offer long-term sustainable solutions including the organisation of repayment plans and professional mediation services.

This press release was distributed by ResponseSource Press Release Wire on behalf of Council Tax Advisors in the following categories: Men's Interest, Personal Finance, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.