Wages 'not matching spending' of 1 in 10 consumers

Many people in the UK currently spend a larger amount of money than they actually earn from their job, according to new research.

Figures published by uSwitch.com suggest that as many as 5.4 million consumers might not currently be able to cover all their outgoings with their wages.

This is said to compare to the 4.8 million people who were in this position two years ago.

Many people are having to get credit cards in order to meet their current level of spending, the website has revealed.

The strain that many of the country's households are facing has been flagged up by uSwitch.com's director of consumer policy Ann Robinson.

She stated: "Consumers are working hard to stay afloat but it's a struggle. Wages are not keeping up with living expenses."

Separate research from the site has shown that 16 million people feel that they are unlikely to see their wages go up in 2010.

Posted by Tom Burroughs.