Household Finances At Breaking Point, Says Shelter

Meanwhile, a recent survey carried out by Which? found that rather than paying off their debts, around 13 million people paid for Christmas by borrowing more money. The Shelter research, based on a YouGov survey of more than 4,000 adults, found that 9% of those quizzed feared they would not be able to afford to pay the rent or mortgage at the end of this month. The charity said families were the worst affected, with more than two-thirds (70%) of rent or mortgage payers with children describing themselves as either “struggling” or “falling behind” with their payments, compared to 63% of the general population of renters and homeowners. It added that it had found a worrying trend of people unable to face up to their financial difficulties, with almost one in five (18%) saying they had not opened post if they thought it was a bill or late payment reminder. Almost 15% admitted to putting such post in the bin without opening it. Campbell Robb, chief executive of Shelter, said: “It is a worrying sign of the times that so many of us are starting the new year worried about how they will pay their rent or mortgage in 2014.
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