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Greater activity found among low-income households |
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Written by JGFR
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06 Feb 2006 |
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Greater activity found among low-income households A feature of the increase in expected activity in recent quarters has been greater engagement in financial products among low-income households (income under £14,499). Year-on-year the proportion of low-income households expecting to be financially engaged has increased from 61% to 69%. Other consumer segments where expected engagement has been much greater – some of which will comprise the same respondents – are among the over 65s, up from 57% to 65%, and among social class DE, up from 65% to 76%. This is encouraging news for the supporters of stakeholder products designed to encourage low-middle income households to save more and also for the growing numbers of sub-prime lenders. Among all intending borrowers the proportion of DEs has increased form 19% to 28% year on year – up from an estimated 1.7 million to 2.8 million.
John Gilbert Financial Research, http://www.jgfr.co.uk/
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Last Updated ( 06 Feb 2006 )
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