People living alone more likely to need debt help?
People living alone more likely to need debt help?
- Thursday, 3 March 2011Single people living alone are the most likely to overspend to pay for a comfortable lifestyle, which may lead them into
debt problems.
That is according to research by Bright Grey, which found that 17 per cent of UK adults living alone overspend.
Many of these turn to credit to fund their lifestyles, meaning they could rack up
credit card debt.
It was also revealed that one in six adults living alone feel they are not paid enough to fund their lifestyle.
Roger Edwards, proposition director at the firm, said: "There is a real concern that for many people, high mortgage and rental prices can mean that spending choices are limited.
"Yet more worryingly, it seems that the average salary is far too short for some, who just can't help but overspend in order to maintain their existing lifestyle or to make ends meet."
Those struggling to keep up loan or credit card repayments should seek
debt advice as soon as possible to find a solution.
Ed Bowsher from lovemoney.co.uk recently suggested that consumers should budget to help them stretch their pay packets further.

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