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Money: Many households consume their entire income

What can households do to cope with soaring inflation?

  What can households do to cope with soaring inflation? What lies ahead and what can be done to mitigate price rises and keep households afloat?Combined with eye-watering gas and electricity tariff increases, consumers are facing soaring costs at every turn.

Berlin. According to a current calculation, almost two thirds of German households consume all of their monthly income for ongoing expenses and sometimes their savings.

Münzen im Wert von fünf Euro werden über ein rotes Portemonnaie gehalten. (Symbolfoto) © Friso Gentsch coins worth five euros are kept via a red wallet. (Symborgoto)

Many people have to buckle up the belt significantly closer due to the increased prices. According to calculation of the German Sparkasse and Giroverband, 60 percent of households used all of their monthly income and sometimes also savings for ongoing expenses. This was an enormously important factor for German medium -sized companies, the association said on Tuesday. Hospitals, tourism, retail and other service providers in particular have to prepare for customers spending less.

'Your money is going to Jagger': Starmer forced to defend Labour plan to freeze energy bills for all

  'Your money is going to Jagger': Starmer forced to defend Labour plan to freeze energy bills for all The Labour leader was challenged as to why wealthy celebrities such as Mick Jagger, Alan Sugar, Richard Branson or Gary Lineker should benefit from support during the cost-of-living crisis. Under his plans, Sir Keir wants the energy price cap to be frozen at its current level of £1,971 a year for typical households.This would stop October's rise in the energy price cap - when it will increase to put average energy bills at £3,549 a year - as well as prevent a further expected rise in January.It has been forecast that average energy bills could be more than £4,200 a year from the New Year.

companies could also get to the brink of existence due to the high energy prices, said Association President Helmut Schleweis. The association spoke out to limit electricity and gas prices. In addition, households and companies would have to save at least 20 percent of energy and invest in renewable energies.

"We don't see any crisis signals at the moment," said Schleweiß with a view to the evaluation of the balance sheets of more than 300,000 corporate customers. However, the outlook is difficult: "Before all of us, strenuous and partly deprivation of years." With an equity ratio of just under 40 percent, the company is available to invest in the conversion of energy supply. The credit supply is also secured.

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The Queen's death made her son a King, and a rich man - but where exactly does the cash come from? .
When the Queen died, fortunes passed down the line of succession along with titles. © Reuters Her death made her eldest son a hugely rich man as well as King, while his heir secured a guaranteed income of more than £20m a year along with the title Prince of Wales.The Royal Family is funded by a rackety collection of assets with roots in the Middle Ages, refined over time in deals with parliament, the most recent in 2012.

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