Personal finance pessimism at its lowest level
Only 15 per cent of British adults expect their personal finances to worsen in the next six months, according to recent research by R3, the insolvency trade body, and ComRes. As a contrast, 2011 figures showed that 43 per cent felt pessimistic about their financial future.
Recognising this to be good news for the state of Britain’s personal finances, Phillip Sykes, President of R3, nevertheless highlights that there are still those who are caught in a cycle of debt, with credit card debt remaining a concern.
“One in five people say they do not have any savings, and while a record low number of people are struggling to payday, to have two in five people still in this situation is more than we would like to see.”