Press Release: Kwik Payday

www.kwikpayday.co.uk, comment on recent research from the Resolution Foundation showing that the wealth gap between the richer and poorer of society is set to widen and put additional strain on the finances of lower income workers during the economic recovery.

The research from the Resolution Foundation claims that the average wage for low-to-moderate incomes is likely to be no higher in 2015 than they were in 2001, despite inflation and the cost of living day-to-day having increased massively.

Ohad Hessel from MyPayDay comments:

"Low to middle earners are suffering the most during the economic downturn and this doesn't look like changing anytime soon. Inflation and the higher cost of living, combined with pay freezes, job insecurity and government spending cuts means that day to day many households are struggling. What was once a wage that offered a good standard of living is quickly becoming a poor wage with millions forced to live hand-to-mouth month by month."

"It is little wonder that payday loans are now becoming mainstream financial products, just like bank overdrafts, credit cards and longer term loans. The research published by the Resolution Foundation merely highlights what low and middle income earners have known for some time – everything is getting more expensive while earnings remain the same, or in some cases have actually been cut."

Anyone considering a payday loan should be confident that they can repay the money they borrow back quickly.

Payday loans are designed to be only short term loans. If you need to borrow money for longer then you should consider other loan alternatives.

Notes:

For more information visit www.kwikpayday.co.uk