It "shows how tricky people's lives are" that families are just one paycheck away from losing their homes, says financial expert Hilary Osborne

A recent survey revealing that one out of three families would not be able to make rent or mortgage payments after one month if they were to lose their primary sources of income "shows how tricky some people's lives are", leading financial specialist Hilary Osborne has told talkRADIO

Feeling the pinch: the loss of one month's salary could see people made homeless, a survey has revealed

Tuesday, August 9, 2016

A recent survey revealing that one out of three families would not be able to make rent or mortgage payments after one month if they were to lose their primary sources of income "shows how tricky some people's lives are", a leading financial specialist has told talkRADIO.   

Financial journalist Hilary Osborne, the editor of Guardian Money, told Julia Hartley-Brewer that the results of the survey, carried out by Shelter and YouGov, should not come as a surprise thanks to a combination of low wages, high rents, zero-hours contracts and "pitiful" interest rates. 

"We know rents and housing costs have been going up," she said. "It [the survey] shows how tricky some people's lives are at the moment."

Osborne added that perception may also play a part in the findings, saying: "People think things are very precarious at the moment, and sometimes these things capture people's sentiment just as much as they capture the truth.

"If at all possible, people should keep [the equivalent of] three months' salary [in savings]."

Listen to the full interview above

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