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48 per cent of the UK are 'just about managing' financially

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New report reveals which areas of the UK are struggling the most

New research from www.providentpersonalcredit.com reveals that almost half (48 per cent) of the UK consider themselves to be ‘just about managing’ financially.

The survey of 2,000 adults revealed that 15 per cent had to give up necessities like food and daily travel costs to pay for unexpected expenses, with a further 23 per cent of respondents saying they had to give up holidays and seasonal events like Christmas to pay for unexpected expenses. The survey results highlighted that it takes the average Brit 4 months to pay off their unexpected expenses, however five per cent of the UK are still paying them off after seven to nine months later.

Cities with the highest just about managing households

The nationwide research revealed which areas of the UK are considering themselves to be ‘just about managing’. Aberdeen top the list, closely followed by Worcester. But the changes in the areas since January is quite shocking. The full list can be seen below:

City Households that consider themselves JAMS Compared to January 2017 Percentage change
Aberdeen 72 per cent 47 per cent +25 per cent
Worcester 67 per cent 43 per cent +24 per cent
Plymouth 56 per cent 58 per cent -2 per cent
Wolverhampton 56 per cent 46 per cent +10 per cent
Gloucester 54 per cent 55 per cent -1 per cent
Newcastle 54 per cent 53 per cent +1 per cent
Birmingham 53 per cent 44 per cent +9 per cent
Edinburgh 53 per cent 39 per cent +14 per cent
Norwich 51 per cent 42 per cent +9 per cent
Bristol 50 per cent 58 per cent -8 per cent
Cardiff 50 per cent 28 per cent +22 per cent
Southampton 50 per cent 50 per cent
Portsmouth 49 per cent 44 per cent +5 per cent
Leicester 48 per cent 43 per cent +5 per cent
Chelmsford 47 per cent 63 per cent -17 per cent
London 47 per cent 49 per cent -2 per cent
Manchester 47 per cent 49 per cent -2 per cent
Cambridge 45 per cent 48 per cent -3 per cent
Glasgow 45 per cent 51 per cent -6 per cent
Liverpool 45 per cent 41 per cent +4 per cent
Sheffield 45 per cent 53 per cent -8 per cent
Leeds 41 per cent 36 per cent +5 per cent
Belfast 40 per cent 47 per cent -7 per cent
Coventry 38 per cent 70 per cent -32 per cent
Swansea 38 per cent 39 per cent -1 per cent
Brighton and Hove 36 per cent 45 per cent -9 per cent
Oxford 32 per cent 50 per cent -18 per cent
Wrexham 32 per cent 33 per cent -1 per cent

 

Unexpected expenses troubling Brits

One of the biggest unexpected expenses troubling Brits are cars – costing £226 on average a year in unexpected costs. With 54 per cent of respondents saying they’ve had at least one car related unexpected expense last year and 18 per cent of respondents saying they knew about the issue but left it to get steadily worse.

After general household bills denting another £248 a year in unexpected costs, other expenses that might be smaller but add up throughout the year include:

Pets – £76 on average annually

Christmas – £93 on average annually

Leisure – £111 on average annually




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