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Old 05-06-2013, 09:01 AM   #1
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Unhappy Five million British households are relying on loans and savings to meet grocery costs

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One in five families said that their monthly incomes would not stretch to cover their total food bill in April, consumer group Which? found.

That meant they had to use a credit card, overdraft or loan, or plunder their savings instead. This would equate to five million families if the findings were projected across the UK, Which? said.

Many households are turning to credit cards for their weekly food shop.
The findings indicate that households are still severely squeezed, despite official figures last week showing that personal insolvencies have fallen to their lowest level in five years.

Insolvency Service statistics showed there were 25,006 individual insolvencies across England and Wales in the first three months of 2013, a drop of 27 per cent on last year and the lowest figure recorded since the first quarter of 2008.

The worst-affected group was households earning less than £21,000 a year and squeezed 30 to 49-year-olds, many of whom had children.

Some 82 per cent of these people said that they were worried about food prices and 57 per cent were finding it 'difficult to cope' on their current income.

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