PPI refunds could alleviate some of the intense financial pressure many people are currently facing.Andrew Hagger, a spokesman for Moneynet.co.uk, acknowledged that current economic conditions mean it is very tough for people to invest in any savings plans at the moment.He stated the increasing anxiety is caused by the two-fold problem of frozen incomes and rising expenditure. The cost of essential purchases such as petrol and food have increased, while many people have not received pay rises or any additional income - which all equates to consumers having less spare money at the end of the month.Even people who are budgeting only to spend cash on the essentials are finding it increasingly difficult to put any money away for savings, he added.Mr Hagger was speaking after research from unbiased.co.uk found 72 per cent of people living in the UK are now worried about their financial situation.Amir HussainAmir specialises in personal loans, consumer debt and debt management.
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