An estimated 6 million households will be in fuel poverty this winter, with a growing mountain of debt putting pressure on those least able to afford it. Households that were already stretched financially will be placed under further pressure and people will start prioritising some payments over others, which will cause debt to spiral.
The UK is also seeing the 'eat versus heat' phenomenon where families are living in extreme fuel poverty, unable to heat their homes, prioritising the need to eat. It's times like these that debt advice and management support becomes even more important for those who are financially vulnerable.
Financial stress is a very real issue for employees in these really tough times. This has a huge impact, not only on employees, but on employers too. It's in everyone's interest to offer solutions to support employees to improve their financial well-being.
Half of the people Citizens Advice help with debt advice are in a 'negative budget' - this means that their income can't cover their essential costs and they are building up debt just to get by. Some groups are especially likely to be in a negative budget, including racially minoritised groups, the self-employed, private renters.
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