A generation of aspiring homemakers could stand to benefit even more from accounting services in Manchester, following the news that younger people in the city are especially susceptible to financial difficulties.
This is nothing new – it is often the younger generation that has the least financial security, whereas their older counterparts are likely to be further into their career, earning a higher salary as a result, and perhaps living off of the benefits of a healthy savings account or accessible pension pot too.
But in the current economic climate, young people have it especially tough, with high property prices and tight mortgage availability, years of wage freezes during the recession, and low interest rates on any savings they do hold.
Figures from global information services company Experian show that Manchester ranks fifth in the UK in terms of the proportion of people who have sought advice in relation to their debt problems – behind Newham, Barking & Dagenham, Hull and Sandwell.
Specific demographic groups likely to face problems include young families, young renters and those on low incomes – all of which points towards the city’s younger inhabitants.
Richard Jenkings said for Experian: “Although it is not a surprise that the need for advice on debt-related problems rises as average income levels fall and unemployment rates rise, evidently there’s also a significant number of people who have either lived beyond their means or whose circumstances have changed and have fallen into debt.”
Whatever your circumstances, there are professional accounting services in Manchester to help you restructure your finances more effectively, giving you the best chance to live within your means.
This might simply mean reducing your outgoings on tax, so that you can keep as much as possible of your take-home pay; or it might mean saving towards a pension so that when you reach retirement age, you are among those living most comfortably.