Debt management: Financial stress is 'Britain's biggest worry'

11/02/2010

Debt management
support may be needed to ease financial stresses as new research from Mintel has revealed that money is the biggest worry for people in Britain.

In a survey of adults in the UK, the leading market research company found that 40 per cent were worried about money, suggesting that the recession has had an impact on the nation's mental health.

Alexandra Richmond, an analyst at Mintel, commented: "Even though the recession may be over, people have become more aware of the fragility of their jobs or indeed the price of their home, which is why employment and finance top our list of worries."

The remaining top five troubles were made up of worries about friends and family members, health concerns, stress at work and job security and employment.

Most people (54 per cent) reported that their favourite way of forgetting their stresses was to socialise with friends and family.

Kevin Still, director of EuroDebt, commented: "Many of the top five reasons are inter-related, as has been shown in the relationship between debt and mental health."

He added: "Money worries contribute to friction in the household, lost income through sick days and often family members having to bail each other out following serious debt problems. Many of these are characteristic of clients we provide face-to-face debt advice to before starting a Debt Management Plan [DMP] or an Individual Voluntary Arrangement [IVA]."

Posted by Fiona Smith

EuroDebt can help with your debt problems. Contact us for an expert advice now.

Tags; Budgeting Advice,

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