7.4 Million UK Residents Struggle with Bills Despite Economic Relief Efforts

Financial challenges persist for many, with significant numbers still unable to cope financially despite some improvements from last year.

In January 2024, 7.4 million people in the UK reported feeling heavily burdened by bills and credit commitments.
Despite a decrease from 10.9 million in January 2023, the financial strain remains higher than pre-pandemic levels.
Renters and single adults with children are among the most affected, with many prioritizing rent over other bills.
Financial assistance and advice are available, with entities like the FCA urging those in need to seek help and negotiate payment plans.
The FCA has implemented stronger protections for borrowers, aiming to improve outcomes for consumers facing financial difficulties.