A recent poll conducted by Scottish Provident has found that people with the greatest debt problems and money worries are suffering from more stress than the average British person.
In the survey, a total of 37 per cent of UK adults said that they would describe themselves as either “stressed” or “very stressed”. However, this situation was revealed to be much worse for those with pressing debt management problems.
Of those describing themselves as stressed, 49 per cent were people without any savings and 47 per cent were those who couldn’t afford to put any spare cash aside. For many of these people, it will be the case that any savings will have been used to cover loan and credit card debt repayments, as well as helping other monthly expenses to be met.
Susan Barclay, who is the head of marketing at Scottish Provident, commented on the results of the poll. She said:
“It is no surprise given the current financial climate that many millions are feeling the pressure and becoming stressed.
“The soaring cost of living, coupled with concerns about job security, will lead many to question how they will be able to pay their bills against a backdrop of inflationary pressures and wage freezes.”
The Scottish Provident poll is not the only piece of research to suggest that British consumers are increasingly worried about their finances. A study conducted for The Co-operative Bank recently revealed that around 80 per cent of Brits are currently worried about money, with most of their concerns centring on the increasing cost of energy bills.
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