Latest ClearDebt Survey

Our survey throws up some interesting regional statistics. Whilst the national average unsecured debt was £25,572, there was considerable divergence between regions. Neighbouring regions, the North West and North East were at different ends of the scale with average debts of £ 25,326 and £12,362 respectively. Significantly, the North West had a higher debt than the South East (£24,601), whilst the average North Western income was over £1,500 lower than in the South East.

Women appear to be better at managing their personal finances than men. ClearDebt’s survey shows that, whilst women are paid 20% less than their male counterparts, women’s debts are 27% lower than mens’. More significantly, women appear to live within their means – having an average annual surplus of nearly £2,000. Highly-indebted men, by contrast, are spending roughly £3,500 more than they take home every year.

Finally, our survey illustrates that age and experience do not necessarily mean a reduction of debt. Total unsecured debts for the under 25’s average at £11,440, whereas the over 45’s average is for £33,370.

To read our press release in full click here. Or, to download the figures, click here.

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