High Inflation Adds Financial Pressure

Published on 1 January 1970 by Raffick Marday

The Bank of England announced inflation is set to be high for the foreseeable future and currently stands at 3.7 percent.

Consumers will be feeling the pinch following the recent increase in VAT, soaring petrol costs and now high inflation, meaning for many their cash will not go as far as it may need to.

This inflation measure has been above the Bank of England’s target of 2 percent for 13 consecutive months, as highlighted by Moneysupermarket.

“People should be doing everything they can to lessen the effects of the current economic environment,” said Kevin Mountford, Moneysupermarket’s head of banking.

“Spending wisely, using discount vouchers and shopping around to make sure you are getting the cheapest deals on your borrowing and household bills all stand consumers in good stead.”

A Bread Prepaid MasterCard for those struggling financially

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Whether you want to use a prepaid card to help you control your everyday spending, or require a means to make purchases after being refused a credit card, a Bread Prepaid MasterCard gives you that flexibility.

If you are a Bread Prepaid MasterCard user you can receive up to 10 percent cashback when you refer a friend.

The Bread Prepaid Card gives the user the freedom of being able to make purchases online, while also giving them complete control of their money and how they spend it.

The card can be used to make everyday purchases, accepted wherever the MasterCard acceptance mark is displayed.

Anyone over the age of 18 years old can apply for a Bread debit card, and you can apply online with users only having to confirm their identity with their passport – not their credit history.

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