North-west ‘most stressed about debts’

The north-west of England is the region most stressed by its collective debt management concerns, according to recent research.

Figures compiled by Co-operative Financial Services show that more than three-quarters of all adults in the region consider themselves to be either stressed or very stressed about the state of the finances.

The same study suggested that British women tend to worry more often about their debts than their male counterparts, while the typical UK consumer is estimated to spend almost two years of their life fretting about money-related issues.

Scott McPhail, savings product manager at the Co-operative Bank said: “It is worryingly clear from the research that the vast majority of UK adults are deeply concerned about their finances, with rising levels of debt and inadequate saving provisions responsible for countless sleepless nights.”

Citizens Advice said recently that household bills are soaring in scale around the country, which is making it increasingly difficult for many families to become
debt free.