Did you know that 42% of adults in the UK are worried about debt? But what are the causes and how are they affecting people across the country?
According to the infographic below which polled 1,126 people on the things responsible for pushing them into debt, the majority (37%) said the rising cost of living. Likewise, 32% of participants said they were worried about credit and store card debts.
So why do people feel like they’re struggling? In addition to the rising costs of living, many people were worried about repayments such as bank loans and credit cards, which is understandable given the uncertainty around interest rates. Having said that, only 20% of people were gloomy about the prospect of their financial situation improving within six months.