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Older generation's finances display signs of improvement

The over-50s are solemnly starting to see improvements in their finances, new investigate conducted by Saga has revealed.

According to a Saga Quality of Life Index, fewer over-50s are formulation cutbacks in their discretionary spending in a final entertain of 2011 compared to a initial 3 quarters.

However, there are still problems for some, with 19 per cent slicing behind even their essential spending due to high inflation. Of these essential areas of expenditure, heating was a many conspicuous cutback due to a mountainous cost of fuel.

Other equipment are also apropos some-more expensive, with 33 per cent of those surveyed awaiting to see acceleration tip 6 per cent in a year’s time. However, a normal spin of expectancy was for acceleration to be using during around 5.2 per cent in 12 months; good above a Bank of England’s dual per cent target.

Dr Ros Altmann, director-general of Saga, commented: “After descending consistently via 2011, we wish that a initial signs of stabilisation in a Quality of Life index will spin into a plain alleviation in 2012.

“It is also heart-warming how most a over 50s are assisting others, notwithstanding high inflation, by ancillary family and charity. These unequivocally are inexhaustible generations.”

Indeed, 32 per cent of over-50s were found to be providing financial support to their children and grandchildren, while 46 per cent are formulation to give income to gift this Christmas.


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