IHNOiI -(2) Posh Poverty!

Struggling Families Using Loans To Buy Food

One in five households said their monthly incomes would not stretch to cover all of their food costs in April and they had to use some form of borrowing such as a credit card, overdraft or loan, or plunder their savings instead,

The findings provide an indication of the numbers of people who are struggling, despite official figures showing last week that personal insolvencies have fallen to their lowest level in five years.

The group who could not cover their food bills from their income alone was largely made up of low-income 

The study also found that only one quarter of people said that they were living comfortably on their incomes, while more than one third (36%) felt squeezed.

Two-thirds were worried about the effects of low interest rates on their savings - although insolvency experts have credited low interest rates with helping people's borrowing costs and keeping personal insolvencies down.

Almost one third (31%) of people surveyed cut back spending on essentials last month, mainly women aged between 30 to 49 years old.

Over two thirds (68%) described the state of the economy as poor, with just 9% saying it was good.

source-uknews

This is what i call POSH POVERTY.