When people are on the lookout for new water heaters and other plumbing supplies, they may be keen to access impressive deals. After all, consumers are feeling the financial pinch at present and so many simply cannot afford pricey versions.
According to the latest Which? Quarterly Consumer Report, Britons are now among the most economically vulnerable consumers in Europe. Each year, individuals spend the equivalent of more than seven whole days worrying about their finances and debt levels are now at their highest levels since the 1980s. British households currently owe a combined total of around £1.5 trillion.
Young people are among those being hit particularly hard by financial pressures. Those between 18 and 29 have the highest levels of debt and one in ten revealed they have defaulted on a bill. Meanwhile, 45 per cent said they ran out of cash each month.
Responding to the figures, Which? executive director Richard Lloyd said: “Consumers in Britain are going through the tightest squeeze in their living standards since the 1920s. Many consumers are clinging to the edge of a financial cliff with savings at rock bottom and personal debt levels sky high.”
He added: “Shocking numbers of people say they are forced to take on new forms of debt just to make ends meet, and many more would not cope with unexpected shocks to their incomes or household bills.”
Which? has called on the government and business to put consumers’ wellbeing first.
By being savvy when they are on the lookout for water heaters and other plumbing supplies, individuals stand to save themselves a considerable amount of money. Thankfully, tradesmen and consumers can now access impressive deals online.
It seems as though the financial difficulties troubling the UK and many other countries around the world at present will not disappear in the near future, so the popularity of great value products may remain strong for a long time to come.