Almost six in ten UK adults are struggling to keep up with their bills, according to new research from the Financial Conduct Authority (FCA).
The research estimates that 7.8 million people were struggling to keep up with their bills – an increase of around 2.5 million people since 2020.
In addition, 60% of UK adults are estimated to be finding it a ‘heavy burden’ or ‘somewhat of a burden’ keeping up with bills.
One in four UK adults has said they were in financial difficulty or could find themselves in difficulty if they suffered a financial shock.
‘If you are facing financial difficulty, you don’t need to struggle alone. There is free debt advice available, and firms have been told that they must work with their customers to solve any problems with payment.’
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