Plans to ‘transform the country’s financial wellbeing in a decade’ announced

The numbers aren’t pretty. As the nation’s indebtedness peaks this month, and January’s payday is still weeks away, nine million people are now regularly relying on credit to pay for food or essential bills. Around 11.5 million have less than £100 in emergency savings. More than 5.3 million children aren’t getting a meaningful financial education, despite it being compulsory in schools and 22 million adults say they can’t plan for the financial demands of retirement because they don’t know enough about it.

More than half of Britons say their weekly disposable income is “less than £0”, according to research by price comparison site FairMoney.com. In fact, 10.5 million Britons are in their worst financial position yet. The problems are complex and deeply ingrained, and we know that poor financial wellbeing has knock-on effects for our mental health, physical health and relationships.

Source: The Independent
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