Survey shows most unhappy with finances

As Britain gradually recovers from recession but some still face debt problems and the threat of public sector job losses, it may be expected that a great many people are far from happy with their finances.

Add to this the current level of inflation, the prospect of the VAT rise soon and the imminence of Christmas with its particular pressures on incomes and it may come as little surprise to some that a survey has shown most people to be unhappy with their finances.

The Skipton Building Society poll has established 78 per cent of consumers take a negative view of their current situation, with ten per cent saying they are very dissatisfied.

For many this may not simply be a case of not being as well off as they hope, but of suffering real and very serious debt problems, for which some may benefit from an individual voluntary arrangement to reduce these to manageable proportions.

Head of products at Skipton Building Society Kris Brewster noted the difficulties many people have makes the current time of year a particularly tough one.

He stated: “Christmas is supposed to be a time of relaxation and enjoyment, but all too often money worries ruin celebrations.

“People are placed under extra pressure during the holiday to spend large amounts of money on presents for loved ones, something which they may not have the resources to do.”

Among those who are most unhappy with their finances may be the quarter of households who have difficulties in repaying debt, a figure identified in a Bank of England report published earlier this month.

By James Francis