Your finances in 2012. Are you ready for the race against time?

2012 is constantly being touted as a time of opportunity. If we believe what we hear, the UK will be a prosperous country, thanks to the influx of investment on the back of the Olympic Games.

But here at Fool.co.uk we’re wondering if this really is the case, or if the Government’s just banking on it to get out of trouble. We’ve taken a close look at five of the biggest economic trends and, with the expertise of Head of Personal Finance David Kuo, formulated five predictions about life and money in 2012.

Each week we’ll take a different issue, from property prices to pensions to credit and debt, and reveal the threats and opportunities we believe are in store… and of course, we’ll also tell you what we think you can do to keep your finances firmly in the black.

Prediction 5: Households face an £8,000 shortfall in their family budget in 2012

Our final prediction surrounds what households in the UK are doing to provide for the future. Rising taxes and inflation mean that the average family may find that saving becomes difficult, if not impossible. This means that financial safety nets may become a thing of the past unless consumers reduce their spending. The implications of this for the next generation may be enormous, as well as those for the immediate future, as further debt looms for the average household.

However, a change in attitude and habits is possible and has historically followed deceleration in economic growth. Armed with the worst case scenario, preparation for the next five years may seem far less daunting. Faced with the choice between further debt and serious lifestyle changes, UK consumers may find themselves rethinking their approach to their finances.

Read the full prediction and find out what to do now to ensure your future is secure -- order our free PDF below.