Some 25% of UK adults have seen a £250 increase in their monthly costs compared with a year ago with 9% seeing their monthly costs rise by £500 or more, according to LV=.
The latest LV= Wealth and Wellbeing Monitor, which surveys over 4,000 UK adults, found that 13% of respondents who are dealing with extra living costs said they were struggling to pay for heating, with 10% struggling to pay for food. Meanwhile, the research found that 5% of people have cancelled insurance policies as a result of increasing cost of living, although what type of insurance was not specified. As a result of rising costs, LV= explained that 36% are coping by trying to save less, a further 34% are buying cheaper brands and 30% are having fewer holidays and meals out. Jus...
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