This is the claim of Engage Mutual Assurance, in which a recent piece of research indicated a significant number of Britons are looking towards the cash windfall received in an inheritance. Citing research carried out by Capital Economics, the firm pointed out that households are currently putting just under a third (31 per cent) of their disposable income towards essentials. As such, it was claimed that people's ability to get on to the housing ladder, send their children to private school or meet other monetary goals comes under more strain.

Following on from such present difficulties with money it may be possible that consumers are struggling to meet various constraints on their finances, whether this be credit card and loan repayments or household bills and transport costs.

The study showed that just under a quarter (23 per cent) of Britons claim that without getting cash from an inheritance they will be unable to pay off their mortgage. Meanwhile, just over one in ten (11 per cent) respondents do not think that they will be able to own their home if they do not inherit money. In addition, 17 and 12 per cent of those questioned respectively claimed that the lack of an inheritance will impact upon their ability to purchase a new car and retire from work. Some three per cent declare that not getting such a windfall means that they will not be able to afford to get married.

However, it was suggested that such consumers pinning their hopes on an inheritance windfall from an older relative could be unwise. Engage Mutual pointed out that more than half (54 per cent) of retired Britons claim that they are struggling to make ends meet. Meanwhile, an estimated 7,900 pensioners were shown to declare bankruptcy over the course of last year.

Karl Elliott, 3GB spokesperson for Engage Mutual, said: "Our previous 3GB research has shown that Britons are already struggling to pay for everyday costs like bills and the household shopping, so we wanted to know how they could afford larger items like paying off their mortgages. It is worrying that so many people have to depend on inheritance to be able to pay for these things. Whilst inheritance can be a great financial help it is not something we can control. We encourage people to take control of their families' futures and save little and often; even ten pounds each month could make some difference in the long run."

For those consumers concerned about they will achieve future financial targets, applying for a debt consolidation loan might be recommended. In doing so, it may be possible that borrowers can meet various spending commitments quickly and affordably, thus leaving them with more disposable income. Such a loan could be of particular assistance to those struggling with their spending in the wake of the credit crunch. Earlier in May, Chris Tapp, director of Credit Action, claimed that people may have to take steps to reduce their expenditure by cutting back on luxury items - such as CDs and computer games - as pressures on their finances intensifies.