Report reveals personal debt concern in south

Solicitor Gemma Nolan

Solicitor leaves Australia to take up Southsea role

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A NEW report has revealed that adults in the south east are worried about their current level of debt.

ComRes and trade association R3 surveyed 2,022 British adults online for a report that gives an insight into the current position of the country’s personal finances.

It found that 39 per cent of people worry about their current level of debt while 40 per cent often struggle to make it to payday.

Around 23 per cent of adults admitted to not having savings and 22 per cent believe their financial situation will worsen over the next six months.

Participants blamed the rising cost of food for their struggle to make it to payday. Household energy and fuel and transport costs were also mentioned as a concern.

Chairman of R3’s southern committee, Mike Pavitt, said: ‘The continued availability of cheap money and only low levels of wage growth have contributed to a significant proportion of British adults building up a sizeable amount of debt in the years after the financial crisis.

‘It seems the lack of education on managing debt and money is not improving.’