The Lemon Fool

I'd no idea where to stick it. I thought this board was the most appropriate.

https://www.fca.org.uk/publication/rese ... y-2020.pdf

Some pre-COVID warning signs that make me think even a small rise in interest rates would cause trouble for many people:

20.3 million could only continue to cover their living expenses for less than three months, if they lost their main source of household income
5.6 million held one or more high-cost loans
5.1 million were constantly or usually overdrawn
2.8 million had persistent credit card debt

Consumer expectations for the next five months as at October 2020:

19.6 million adults expected to struggle to make ends meet, see their debt increase, or were not confident they could pay their bills or
keep up with their mortgage, rent or credit and loan payments
17.5 million expected to cut back on essentials like food and clothing, and 5.6 million expected to use a food bank
15.9 million expected their household income to fall
9.7 million expected to borrow from friends and family
8.1 million expected to take out a new credit product or borrow more on an existing one
6.7 million expected to need debt advice

I believe there are about 53 million adults in the UK so these numbers represent a significant proportion.

(I am posting as the match is on. Last time I checked the score, England were up 1 and I'm too tense to watch any longer.)

Best wishes


Mark.

ADrunkenMarcus wrote:
Consumer expectations for the next five months as at October 2020:

So how did those next 5 months pan out?

dealtn wrote:

ADrunkenMarcus wrote:
Consumer expectations for the next five months as at October 2020:

So how did those next 5 months pan out?

We will have to wait for the 2021 survey, I imagine.

Best wishes


Mark.

ADrunkenMarcus wrote:

dealtn wrote:

ADrunkenMarcus wrote:
Consumer expectations for the next five months as at October 2020:

So how did those next 5 months pan out?

We will have to wait for the 2021 survey, I imagine.

Best wishes


Mark.

Why? March 21 is behind us.

[quote="ADrunkenMarcus"][/quote]
Those figures are staggering especially in light of the fact that interest rates have been at rock bottom since 2008
PS the game turned out just fine

dealtn wrote:

ADrunkenMarcus wrote:

dealtn wrote:
So how did those next 5 months pan out?

We will have to wait for the 2021 survey, I imagine...

Why? March 21 is behind us.

The 2020 survey was published in February 2021.

The 2021 survey is probably due around February 2022.

Best wishes


Mark.

pje16 wrote:

ADrunkenMarcus wrote:

Those figures are staggering especially in light of the fact that interest rates have been at rock bottom since 2008

Yes, absolutely. And even a modest (by historical standards) quarter-point rate rise makes a huge proportional difference.

pje16 wrote:

ADrunkenMarcus wrote:

PS the game turned out just fine

4 goals is quite nice.



Best wishes


Mark