According to new research, one in four workers admitted that their financial situation has a negative effect on their health.
The Post Office’s Current Account Footprint Report revealed that 15% of workers say they often run out of money towards the end of the month. When this happens people often rely on credit cards, overdrafts and savings.
27% of those asked said that the lack of money leading up to payday causes them stress, while 25% say it causes them sleepless nights.
The survey highlighted how 17% of people were struggling to pay for day-to-day expenses 3 weeks after payday.
The head of financial services at the Post Office, John Wilcock said “It is a concern that we are becoming ‘pay day’Britain, just counting down to the next pay cheque.
“However, the bigger worry is that so many workers are struggling to balance their income versus their outgoings every month.”
If you’re struggling with payday loans, credit cards or other debts you should speak to a financial solutions provider who can discuss the options available to you.
The Debt Advisor can advise on all kinds of debt solutions such as Debt Management Plans (DMP), Individual Voluntary Arrangements (IVA) and Bankruptcy.
Call today on 0800 0851 825 to speak with an advisor. If you’re calling from a mobile you can reach us on 0161 868 2500.
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