Credit crunch forcing middle classes to take second job - AXA

A poll of almost 6,000 people shows 72% will cut spending and one in five will stop saving or reduce pension contributions as inflation for the middle class hits 5.7%. A total of 30% cited the most common reason as not having enough money at the end of the month. A further 15% blamed the burden of house prices while debts represent the main obstacle for another 15%. The research also shows 8% have considered not renewing protection insurance to cut costs. Steve Folkard, head of pensions and savings at AXA, says: “It’s no wonder that households with above-average incomes are strugglin...