Debt management could ease Brits' stress

15/10/2009

Britain is the worst place to live in Europe despite offering the biggest wages a new study has found.

The high pay packets are countered by long working hours, poor annual leave and rising food and fuel bills. Plus a lack of sunshine adds to the misery of Brits.

In the European Quality of Life Index by uSwitch.com Britain is at the bottom of the list while France and Spain enjoy the best quality of life.

The research revealed Britons die two years younger than their French counterparts – and that's after working three years longer on average.

Getting an IVA could be a way to ease the stress of the modern British life. It's a non-borrowing option of paying off your debts in a realistic timeframe – which could go some way to improve quality of life.

Speaking on the study, EuroDebt says the average net UK household income after taxes quoted as £35,730 seems very high.

As a nation we have taken credit to our heart and the average unsecured credit burden is over £21,000 and this has squeezed most households disposable income, says EuroDebt.

For those people where money problems have become more serious, EuroDebt is seeing the average unsecured debt balance at over £29,000 with 8 creditors, though debt levels of over £100,000 are not uncommon.

Whilst expenditure on items like alcohol and tobacco are considered luxuries, many essential items like healthcare, children's education and food are often over reduced in time of hardship.

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