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7m UK adults living in 'extreme financial stress'

By Daniel Culpan

19 June2021

stress Some 7 million working adults in the UK are living on a financial 'cliff edge', despite being unable to claim state support, according to a study of employed households' finances commissioned by the Guardian.

These 3.6 million households in Britain, unlike the 'squeezed middle', have little or no money set aside in savings, no equity in their homes and struggle to stretch their monthly income in order to feed themselves and their children.

The report found that as a result, these vulnerable households are living in 'extreme financial stress', unable to get by on their current incomes and giving them no assets to fall back on. This means that even something such as a large fuel bill could push many of these families into debt worries and other financial problems.

Bruno Rost, head of Experian Public Sector, who used a combination of 400 database variables and government research to flag the most financially 'at-risk' working households, said this group are "traditionally proud, self-reliant, working people".

Furthermore, the research revealed that 2.2 million children live in families who are struggling to cope financially, despite one or both adults earning a low to middle income.

Image iStockPhotos / PhaticPhotography

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Tags: debt, poverty, stress, employment, Experian, living cost, recession, inflation, Government

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