Five million working people struggle with money worries
Back to Topic
Click to Print
Useful Websites
Glossary Term Selection
Nearly five million working Brits are worried about their financial situation, according to research by consumer group Which?
By Joanna Faith
In total, 28% of all UK house-holds said they experience some form of financial stress be it relying more on overdrafts and loans or struggling to pay bills.
But among working households, the figure jumped to 61%.
“In total, 28% of all UK house-holds said they experience some form of financial stress be it relying more on overdrafts and loans or struggling to pay bills”
The most common forms of financial distress for working and struggling households were a reliance on more traditional types of borrowing. Some 20% of people had a loan or credit card, had borrowed money from friends and family, or had used authorised overdrafts as well as cutting back. One in five people had defaulted on a loan, bill, mortgage payment or rent.
Nearly two fifths of these households thought their financial situation would get worse in the next year. The top worri...
Want to see the rest of this article?
Would you like to see the rest of this article and all the other benefits that Issues Online can provide with?
- Useful related articles
- Video and multimedia references
- Statistical information and reference material
- Glossary of terms
- Key Facts and figures
- Related assignments
- Resource material and websites
