Almost a third of Brits cutting back on essentials to cope with financial pressures

"A new survey has revealed how the majority of Britons are grappling with significant financial anxiety. Two-thirds (66 per cent) are concerned about their economic prospects in the coming months, while nearly a third (31 per cent) have already resorted to cutting back on essentials such as food and heating."

"Almost two-fifths (38 per cent) reported their finances had deteriorated since this time last year. To manage daily costs, a quarter (25 per cent) have depleted their savings, and 16 per cent have borrowed from family or friends."

"More than half (51 per cent) of those surveyed are in debt, with 42 per cent of this group experiencing an increase in their debt burden. A concerning 12 per cent find their debt increasingly difficult to manage, and 6 per cent have fallen behind on payments."

A recent survey reveals that 66% of Britons are worried about their economic future, with many cutting back on essentials like food and heating. Nearly 38% report worsening financial conditions compared to last year. A quarter have used savings to manage costs, while 16% have borrowed from family or friends. Over half of respondents are in debt, with 42% experiencing an increase in their debt. Additionally, 12% find their debt hard to manage, and 6% have fallen behind on payments.

Read at www.independent.co.uk