R3 – Personal Debt Snapshot, Wave 23

A survey of 2,004 British Adults on behalf of R3 on the state of their personal finances.

Since August 2017, there has been a decline in the proportion of British adults saying they are at least fairly worried about their current level of debt, moving from 41% to 34% in this wave.
However, credit card debt still remains the leading cause of debt worries, particularly amongst older age groups.
One in five (20%) British adults contributed to their pension in the last month, however a similar proportion (19%) say they have no savings.
A third (34%) of British adults say that they struggle at least sometimes to make it to payday, the lowest level seen since June 2013.
The cost of food remains the most common reason for British adults struggling to meet it to payday, followed by household energy costs, and fuel or transport costs.
Younger British adults are less likely to own a credit card than their older counterparts, but are more likely to have outstanding balances on credit cards they do own.

Date Published: 10/07/2018

Categories: Economy | Personal Finance | Public and communities | UK

Client: R3

Methodology

ComRes interviewed 2,004 British adults online between 18th and 19th of April 2018. Data were weighted by age, gender, region and socio-economic grade to be representative of all British adults. ComRes is a member of the British Polling Council and abides by its rules.