Prepay Credit Cards Can Restore Consumer Confidence

Published on 1 January 1970 by Raffick Marday

Consumers’ attitude on current inflation figures was surveyed by the Bank of England to gauge confidence over the future of the economy.

The perceived inflation rate was 3.9 percent in November, up from 3.6 percent in August this year.

When asked about expectations of inflation in the long-term respondents saw inflation decreasing slightly as they stated a figure of 3.2 percent on average.

The survey also showed however consumers believe the economy will end up weaker rather than stronger if prices start to rise faster.

If high prices on consumer goods is causing you to struggle financially, a prepay credit card could help you manage your money better so you can afford the things you really need.

Further evidence that consumer confidence over the economy is waning is that 52 percent think the inflation target by the Government is about right, compared to 54 percent who thought this in August.

A further 25 percent of respondents thought if interest rates go up it would benefit them personally compared to 23 percent in August, while 28 percent would prefer it if interest rates were to stay down compared to 27 percent in August.

Prepay Credit Cards

The high rate of inflation may be causing many consumers to worry how their current salary will continue to stretch to cover their basic needs.

If this is the case try working out a budget for every aspect of your outgoings so you know how much you have to spend and how much you can afford.

If you then put this money onto a prepay money card you will be able to spend without worrying you are overspending as the card prevents you from using more than you loaded onto it.

Once you can see how far your money goes you will be able to make cut backs where necessary like switching to supermarket own brands, or limiting treats such as meals out to places which offer discounts.

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