45
January is usually a tough
month after Christmas, many
people are paid before the
holiday which makes this a
long period before the next
pay day, and with this year
being in the midst of the cost
of living crisis it's going to
be even tougher for some.
Although things are looking
slightly more positive, with
the Bank of England base
rate remaining unchanged
since August 2023, it is
still at a 15 year high and
it is hard to believe that in
February 2022, nearly 2 years
ago it was only 0.5%, nearly
5% lower than it is today.
The cost of living also seems
to be coming under control
too, the annual rate of in昀ation
reached 11.1% in October
2022, a 41 year high before
easing. Recent data shows
it was 4.6% in October 2023,
down from 6.7% in September
2023*1.
Monetary Solutions Limited
Airport House,
Purley Way, Croydon
Surrey, CR0 0XZ
Tel No: 020 8760 9940
Fax No: 0870 460 1737
Website: www.monsols.co.uk
However, I have
to say that
countless
times I have
been shocked
at the increase
in some items,
including
my recent
household
and buildings
insurance renewal
which appear to have
nearly doubled. Talking
amongst friends this seems
like a general trend.
So what would my advice be?
Firstly, try to avoid using credit
cards if you can. It is so easy to
get caught up in a credit card
trap and quickly build up debts
which can easily spiral out of
control. Also, consider seeking
professional advice and don't
try to hide from your situation.
There have been measures
put into place to try to help
individuals currently.
At Monetary Solutions Ltd, you can
book a free initial consultation about
any 昀nancial matters, so please call
us on 020 8760 9940.
___________________________
The information in this article is for
information only and must not be
considered as 昀nancial advice. We
always recommend that you seek
independentvivian@monsols.co.ukore
making any 昀nancial decisions.
020 8760 9940
vivian@monsols.co.uk
This is an advert
by Vivian Slattery of Monetary Solutions Ltd
The January blues
We offer a free without
obligation consultation so
if you would like advice
on how to manage your
昀nances why not pick
up the phone today
and give us a cainfo@purleypages.co.ukommons
Library website, Dec 2023
TO ADVERTISE EMAIL: info@purleypages.co.uk
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