22 Kids and Counting's the Radford family and their loyal fleet of followers have flooded Sophie Walker and her parents with financial backing to raise money towards a fundraiser that has now reached over £60,000.
08.01.2024 - 14:17 / dailyrecord.co.uk
New research commissioned by the charity Independent Age indicates that one in four older people (24%) had to rely on savings last winter to help cover daily living costs, including higher heating bills and soaring supermarket prices. The older people’s financial hardship charity said this figure increased to one in three (33%) for those with a household income under £20,000.
As colder weather continues this winter and steeper costs on food and fuel look set to stay for the first part of 2024, the charity is warning that older people’s ability to cope with increased or additional costs this year could be further reduced as they have already dipped into savings pots. The charity is urging anyone struggling with finances, or worried about coping with higher outgoings, to get in touch to help them check for unclaimed benefits including Pension Credit, Attendance Allowance or Housing Benefit.
Joanna Elson CBE, Chief Executive of Independent Age, said that on average the charity has been able to help people boost their incomes by an additional £4,000.
The survey of 2,252 people in September 2023, was conducted online by YouGov on behalf of Independent Age.
Some 35 per cent of people who took part in the survey said they used a ‘significant amount’ while seven per cent admitted they had used ‘al’ or ‘almost all’ of their savings. A further 10 per cent said they used ‘most’ of the money they had save up and a staggering 58 per cent used what they considered to be ‘more than a small amount’.
However, six per cent of respondents said using savings wasn’t an option as they had none to fall back on when they were struggling to pay bills. This increased to 10 per cent for older people with an income of less than £20,000.
The charity
22 Kids and Counting's the Radford family and their loyal fleet of followers have flooded Sophie Walker and her parents with financial backing to raise money towards a fundraiser that has now reached over £60,000.
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