Bath residents have largest personal debt

People living in Bath have the highest amount of personal debt on average, compared with the rest of the UK.

According to, figures from the British Bankers' Association (BBA) and the Council of Mortgage Lenders (CML) show people with a postcode of 'BA1 9' owe

Brits increasingly turning to their grandparents for help

Many young adults are struggling to pay off their debts and turning to their grandparents for help instead, a new study reveals.

According to, the research from MetLife shows that one in three Brits over the age of 65 have paid off debts of

Coupons and discounts the key to big savings for super scrimper

One of Britain's most effective super scrimpers has let loose the secret behind her saving – claiming that discounts and coupons allow her to free up

Nine in ten Brits in some form of debt

Around nine in ten UK adults are currently in some sort of debt, a new survey from think-tank Demos reveals.

According to, unexpected costs and expensive one-off purchases are the top reason why so many Brits find themselves borrowing money. However, nearly a quarter of adults have been forced into debt because they can't afford to pay their utility bills or buy food or clothing.

The total amount of household debt in the UK is

More Brits stump up extra cash for overseas holidays, but some miss out

New figures show a rise in Brits planning overseas holidays for this year as the economy shows clear signs of improvement, reports

Research firm BRDC Continental surveyed more than 1,000 Brits to find that over three-quarters (78 per cent) are planning on taking at least one foreign break over the course of 2014.

This is a rise on the 73 per cent who planned on doing the same last year and a huge increase on the 66 per cent from 2012.

Analysts from the group have attributed the spike in Brits booking foreign holidays to improved job security combined with higher financial confidence.

While this has caused the number of people taking domestic breaks to reach the lowest point in four years, says the figure still stands at 45 per cent – down only slightly from 56 per cent in 2013.

Those who wish to go on holiday to an overseas destination should now be looking for the excess cash that will allow them to escape Britain should the weather take a turn for the worst.

BDRC highlights that last January was the wettest in 250 years for the UK – and that it is “no surprise” that people are planning to escape their home nation over the next 12 months.

Over 10,000 Brits at risk of losing their homes last year

More than 10,000 people who sought help from the Citizens Advice Bureau (CAB) last year were at risk of losing their homes, a new report reveals.

According to, the report from CAB shows the number of people afraid of losing their property last year increased by a quarter. Moreover, almost 87,000 individuals reported problems of social housing rent arrears; a rise of about a tenth compared with the previous year.

CAB believes that there are several reasons why Brits are struggling so much to keep up with their rent. Wage rises are still below inflation and there is a huge lack of affordable properties on the housing market. Welfare reforms haven't helped much either, such as benefit cuts for people with spare rooms – also known as the bedroom tax. In fact, a fifth of Brits who got hit by the bedroom tax at the end of last year were struggling to keep up with their rent.

Gillian Guy from CAB says in order to maintain demand the UK needs to build more affordable properties.

“The steep rise in arrears, possession orders and help with housing debt suggests thousands cannot make end meet and need help to keep a roof over their head,” she explains, reports

Over a fifth of Brits afraid they will never afford to move

Some 21 per cent of Brits believe they won't ever be able to afford to move or buy their own house, a new survey reveals.

According to, the survey from Gocompare shows over half of the UK wants to move house, but many think the costs are far too high for them. On average, Brits wanting to change their location have been waiting 3.6 years to do so.

Unsurprisingly, young people between the ages of 18 – 34 are most worried they'll never have enough money to move or buy their own place. Moreover, Londoners are the most keen to make a change, as 62 per cent wish to move. Some 44 per cent of Brits in the capital believe they'll be able to change their residence in the next year, reports

Around 16 per cent of Brits say the actual cost of moving and buying a home is what is holding them back the most and another 16 per cent say prices are too high in the area they want to live in. Ten per cent are too concerned about whether they can hold down their current job or earn enough money and 14 per cent struggle to save sufficient cash for the deposit. Even if they can afford the initial costs, 15 per cent believe they won't be able to afford to maintain and run their own home.

Ben Wilson from Gocompare says it's a great time to buy a home, but many still can't afford to.

“Our survey suggests the high costs associated with buying and moving home, together with the requirement to put down a bigger deposit, are preventing many people from realising their property dreams,” he explains.

Nearly a third of Brits put saving on the backburner

Almost 15 million Brits are digging themselves into deep financial trouble by not making any effort to save money.

This has been suggested by a new infographic from investment group AJ Bell, which highlights the real troubles that families could face if they don't start preparing for the future.

A survey from the firm's Youinvest arm shows that nearly a third of the population – or 31 per cent – are not making any savings and can effectively rule out planning for big events like their wedding, an overseas holiday or lavish purchases like a new car.

In addition to this, half of Britain (50 per cent) are not participating in a non-state pension scheme at their workplace, which could leave them without a solid foundation to fall back on following their retirement.

Indeed, according to a rundown of the infographic at, saving

Over a quarter of Brits stressed by their financial situation

Some 28 per cent of Brits are currently worried about their personal financial situation, a new survey reveals.

According to, the survey by ComRes for BBC Breakfast shows that the majority of Brits still aren't feeling the impact of the economic recovery. In fact, three-quarters believe their financial situation will not improve over the next year and seven in ten already feel negative about how much money they have.

Some 19 per cent of Brits aren't earning enough to cover their monthly spending, meaning they are at real risk of driving themselves into debt. Respondents say they are most concerned about the rising cost of food shopping and utility bills this year.

Only 40 per cent of those surveyed think they'll get a pay rise this year, reports One in four expect their wage rises to go above the rate of inflation.

Figures from the treasury indicate that two-thirds of Brits have seen their wage increases beat inflation every year since 2006, with the exception of 2011.

However it isn't all bad news, as almost a third think their finances will improve overall in 2014. Two-thirds of people also report that they don't spend all their wages every month and are able to put something away into their savings account.

Four in ten Brits to seek loan within next three months

Four in ten Brits (40 per cent) believe they will require urgent financial assistance within the next three months as the cost of living weighs heavily on their shoulders.

This is just one of the many shocking findings unearthed in a Channel 5 survey on UK debt, which shows that millions of Brits would have to take out a loan to pay their bills just one month after leaving their job.

Cited by, the survey also revealed that while four in ten people can envisage applying for a loan in the coming months, one in ten is so close to a financial meltdown that they're currently living week-to-week just to get by.

What's making matters worse is a lack of people willing to take responsibility for their financial plight. Just 38 per cent of the group surveyed by Channel 5 said it was up to the individual to keep on top of their finances, which heaps the pressure on lenders.

Christian Guy, director of the Centre for Social Justice, has attributed the survey readings to years of increased borrowing brought on by the rising cost of living. says results from the survey have been released in the lead up to Channel 5's 'The Big “Can't Pay” Debt Debate', which airs tonight (March 17) at 10pm.

Guy Davis, the channel's commissioning editor of factual programming, promised a “raw, passionate and relevant” review of the current situation.