More than one in three families in England are a monthly pay packet away from losing their homes, according to research by Shelter highlighting how many households have almost no savings. Many savings accounts pay virtually zero interest after the Bank of England cut the base rate to 0.25% last week. The housing charity found that 37% of working families would be unable to cover their housing costs for more than a month if one partner lost their job. Losing a job and relationship breakdown are among the chief reasons for households falling into serious debt. I recently changed jobs and hit a rough patch when I thought I wouldn’t be able to pay the rent.

Source: The Guardian August 08, 2016 22:52 UTC