Young families 'more likely to struggle with cost of living' - 01/09/2011
Younger families with constraints on their finances might be more inclined to compare energy prices and switch to a cheap electricity tariff.
According to Martin Bamford, chartered financial planner at Informed Choice, young families are more likely to be struggling with debt and living costs, including the rising price of energy.
"There are certainly lots of financial pressures on younger people, all the way from leaving university with big debts as a result of student costs to the massive increase [in] cost in terms of the housing ladder," he pointed out.
"The older generation seem in a better position, because they have not had to incur this cost that the younger generation has had to take on board."
The financial expert explained that debts could fall over the next few years as the interest rates stay low, although it remains to be seen whether people take the opportunity to pay off debts or use it to go out and spend more money.
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