There has been a rise in the number of households in which no-one goes to work, official figures have shown.

The ONS revealed that the workless household rate has increased 1.1 per cent over the last year, making it the highest rate since 1999.

In total, 3.3 million of the country’s homes have no adult in employment, with the rate highest in single parent households.

Homeowners in north-east England are worst affected, with the lowest rate seen in the east of England.

Neil Carberry, head of employment policy at the Confederation of British Industry (CBI), recently said that the worst unemployment figures always follow shortly into an economic recovery.

"While [employers] are perhaps ceasing to make redundancies whilst the economic recovery is underway, the other [are] feeling ready to hire," he stated.

The CBI recently found that economy may be stabilising after a steep fall of output at the start of the year.

It forecast marginal quarterly growth at the start of 2010, with momentum building to around trend rate by the end of the year.

Many people are putting themselves at risk of identity fraud by disclosing their chip and PIN details to family and friends, it has emerged.

Research from LV= found that over eight million adults have disclosed such information, with 24 per cent then falling victim to fraud.

"Not only does it undermine the security of your account and increase the risk of ID fraud, but also card holders could end up out of pocket if they are found to have shared their card details," noted John O’Roarke, managing director of LV= home insurance.

Websites, petrol stations and cash points are just some of the common places that fraud occurs, the insurer claimed, as people send their loved ones to make purchases on their behalf.

Businesses are also not paying attention to this growing trend, as 98 per cent who have used another person’s card believe they have not been caught.

There were 2.8 million fraudulent transactions on UK-issued cards recorded in the UK in 2008, an increase of four per cent from 2007 (2.7 million), according to figures from the British Crime Survey.

People are starting to realise that they need a financial savings cushion in order to weather the current economic climate, it has been said.

Ideally, this needs to equate to three months of salary, noted head of consumer finance at lovemoney.com Ed Bowsher.

"Really, the best thing to do is to do your saving in the good times – so we all should have been saving three years ago and would now have to cushion," he suggested.

Mr Bowsher hopes people’s long-term attitudes will also change as a result of the credit crunch and believes they will remember this recession for some time to come.

People should look at the rates they are getting on their savings accounts to see whether their money is working hard enough, he added.

The Office for National Statistics recently found that the household savings ratio, which measures the amount of disposable income households save rather than spend, stood at three per cent during the first quarter of this year.

This is up from four per cent in the final quarter of 2008 and up from -0.8 per cent during the same quarter last year.

Many of the UK’s grandparents are facing debt management problems later in life, it has been found.

A Scottish Widows survey revealed that the average non-mortgage debt for retirees amounts to £7,344, marking an increase from the £6,732 seen last year.

"The recession has seemingly done nothing to encourage retirees to cut their debt, and with the possibility of the value of their property dwindling, they could be leaving themselves in a vulnerable position," noted Ian Naismith, head of pensions market development at Scottish Widows.

He believes people should be able to enjoy their retirement without financial worries, which could make them consider taking on the expertise of a debt management firm.

Research also shows that debt related to mortgages is on the rise, as 15 per cent of retirees have an outstanding mortgage.

Keith Churchouse, director at Churchouse Financial Planning, recently suggested that people need to look for more than one means of funding their retirement, which may include using ISAs or setting up a business.

He said that there are a number of options for people to choose from, which will ultimately give people more financial stability when they do retire.

Latest figures which show as many as one in six homes do not have anyone who works are "of tremendous concern", it has been said.

Urgent action is needed to prevent the situation from getting any worse, noted chief executive of Child Poverty Action Group Kate Green.

"A recession survival package for struggling families is now the most urgent need in our national response to the ongoing economic crisis," she commented.

She believes that without action being taken, "loan sharks will be circling and families are in danger of spiralling into debt", emphasising the need for a package of measures in the chancellor’s autumn pre-budget report.

The employment rate for people of working age was 72.7 per cent in the three months to June, the Office for National Statistics reveals, down 0.9 percentage points on the previous three months.

Furthermore, the unemployment level was 2.43 million, up 220,000 on the previous three-month period when the total employment level was 28.93 million.

This loss of income can put families at risk, the Child Poverty Action Group, as they are unable to afford to buy life’s basic essentials.

More savings and less debt could be crucial for helping the property market back on its feet, it has been suggested.

Graeme Moran, managing director at Metropolitan Home Ownership (MHO), believes this could be one of the reasons behind more first-time buyers returning to the family home.

"Spending a year to repair any incomplete credit history and then after that hopefully having sufficient savings to go out onto the housing market," he noted.

People are in search of affordable rented schemes, Mr Moran claimed, with 45,000 enquiries being taken by the MHO since April.

Saga reported on August 26th that 31 per cent of parents aged over 50 have seen their adult children return to the family home and 78 per cent of these parents enjoy having their children move back in with them.

However, of those questioned, 27 per cent of parents asked for a financial contribution towards the increased household bills.

Nearly one-fifth of respondents have moved back in with their parents for more than a year, with Londoners found to be the most keen to stay at home.

Many people are delaying their retirement plans due to the pressures of the recession, it has been said.

Figures from MGM Advantage show 1.85 million people will have to work longer than expected and 23 per cent will stay employed past the statutory retirement age.

The company emphasised the importance of making sound financial decisions now in order to live comfortably in the future.

Craig Fazzini-Jones, director at MGM Advantage, commented: "No other financial decision you will ever make effectively asks you to choose how you want to lead your life for the next 30 years, so it’s a big one to get wrong."

Couples prioritise debt repayment above most other commitments and also carry higher levels of debt, averaging £31,196, Key Retirement Solutions recently found.

It said that the average debt for a single male is £30.509 and £24,755 for a single female.

Furthermore, it claimed that single males spend the most when purchasing a new car, on average £9,978 compared to single females spending an average of £5,797.

Those who are struggling to keep on top of their debts could find help from an individual voluntary arrangement (IVA), it has been suggested.

People who opt for such a solution can make sure they are rid of their debts for good, noted the Daily Express, and could help some people.

Furthermore, they do not involve having to borrow more money, meaning people can avoid getting further into the red than they already are.

Borrowers who are struggling to keep up with payments on their personal loans, credit cards and store cards may benefit from an IVA, the website stated, as they are able to repay all – or at least some – of the money they owe.

Figures from Credit Action show the average owed by every UK adult is £30,460 including mortgages, equating to 133 per cent of average earnings.

In addition to this, consumer credit lending to individuals at the end of June totalled £231 billion and the annual growth rate of consumer credit continued to fall to 1.9 per cent.

There has been a slight decline in the level of confidence in the mortgage market, it has been found.

Figures from Legal & General show 15 per cent of mortgage advisors expect the situation to get worse over the next quarter of the year, which is down to a lack of available lending.

"Looking at mortgage business there seems to be ever-increasing signs of a shift towards house purchase transactions and away from remortgage business," said Stephen Smith, Legal & General’s director of housing.

It is believed that house purchases will make up 43 per cent of all mortgage business over the coming quarter, marking a slight increase from 40 per cent in the previous quarter.

Latest statistics from the Council of Mortgage Lenders (CML) show that gross mortgage lending totalled an estimated £16 billion in July, down 36 per cent from £24.9 billion in July last year.

Activity is still subdued on an historic basis, as this is the lowest July lending figure since 2001, the CML noted, and £11 billion lower than the July average over the previous seven years of £27 billion.

People are becoming more financially aware and are making more of an attempt to look after their accounts, a survey has found.

According to NS&I, this is the case for two-thirds of Britons and half of people are also more aware of how much money they hold in their accounts.

Senior savings strategist at NS&I Dax Harkins said: "Setting aside a few minutes a week is all it takes to review your money situation.

"From this point you can assess your incomings and outgoings, identify opportunities for savings and make your money work as hard for you as possible."

However, 36 per cent admitted to only caring a little about their finances and revealed how they are doing just enough to get by.

In addition to this, 20 per cent believe they have enough money regularly deposited in their account for there to be no need to worry.

Earlier this month, the July Savings Index from Nationwide improved by two points when compared to the previous month, while the Future Savings Index increased by five points to reach an all-time high.