Cost-cutting advice from East Staffordshire Citizens Advice Bureau

This is not a new type of cereal! It has meant that it is now more and difficult to get credit.

See Page 2 for further details.

Petrol and food prices have gone up across the world because of the dramatic rise in wholesale oil prices. See Page 2 for more information.

COMBATING THE CREDIT CRUNCH

Some scary statistics

• 123 properties are repossessed every day.
• Debt advisers report a 100 per cent increase in the past six months in demands for help in repossession cases.
• The average food shop is now 12 per cent more expensive than it was in 2007.
• 1kg of frozen peas from Tesco went up from £1.19 at the end of 2006 to £1.79 at the end of 2007.
• 1 dozen free range eggs from Sainsbury’s went up from £1.62 at the end of 2006 to £2.35 at the end of 2007.
• 500g of parsnips from Asda went up from 98p at the end of 2006 to £1.76 at the end of 2007.
• The cost of fuel has doubled in the past 12 months.
• East Staffordshire Citizens Advice Bureau dealt with £18.9 million worth of debt in 2007/2008 compared to £8.9 million in 2006/2007.
• Personal debt stands at £1.436 trillion — if this was in £10 notes it would stretch from earth to the moon 18 times.
• Britiain’s personal debt is growing by £1 billion every five minutes.
• 30 per cent of British adults have no savings or investments.

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