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Brits struggling to get over debt problems 1 year after recession ends

Brits struggling to get over debt problems 1 year after recession ends

- Wednesday, 9 February 2011

The recession may have officially ended a year ago, but British households struggling with debt problems are no closer to settling their personal finances.

That is to be inferred from new research by Scottish Widows, which indicated that 71 per cent are still struggling to balance their life priorities.

A survey by the bank indicated that 37 per cent still fear for their job security – down just one per cent from last year – with most householders no doubt apprehensive over the risk of losing their jobs and subsequently requiring debt help.

Furthermore, 38 per cent feel they are failing to save enough money away to provide them with any sort of financial protection, compared to 39 per cent last year.

Iain McGowan, savings expert at Scottish Widows said: "We remain in difficult times, with Brits are still unable to give their health, wealth or home life as much priority as they would like.

"Although it can seem daunting, taking the first steps towards improving your financial outlook is vital in getting control of other areas of your life."

The research also showed that 45 per cent feel they are not doing enough to keep fit and 44 per cent think they should be having more fun.ADNFCR-2300-ID-800395198-ADNFCR
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