Debtors concerned with overspending, research shows

Britons are becoming increasingly concerned with spending money, new research has revealed, despite the fact that September saw a climb in optimism regarding this.

Findings from Business Development Research Consultants (BDRC) have shown that the majority of people are still cautious about expenditure, perhaps driven by a fear of falling into debt.

The study showed that 33 per cent of those asked are experiencing money troubles, which is a decrease of four per cent since March.

And, despite not actually having suffered any financial hardship in the last 12 months, 35 per cent state they are feeling wary about their cash, even though they do not expect to have difficulties in the near future.

Director of the BDRC Tony Wornell remarked that the time between March and September saw a rise in spending as fewer people were scared of unemployment.

The BDRC’s findings follow those of Bright Grey, which recently indicated that UK adults do not know how much their average monthly outgoings are, with many believing it to be £892, when it is in fact £1,378.

By Sarah Adie