More than half of those expecting their finances to get worse said this was due to higher energy bills, a survey for StepChange Debt Charity found
Some 41% of adults fear their financial situation will worsen this year, the StepChange Debt Charity reveals.
Their survey showed that 59% of those anticipating tougher times ahead blame it on surging energy costs. About one in six, or 17%, have constant money worries, and another 59% admitted they worry about finances often or sometimes.
Of these worried about funds, just over half, 53%, say their anxiety has escalated compared with last year. Women seem particularly plagued by these concerns, with 58% expressing greater worry than 12 months prior, as opposed to 48% of men.
Two-fifths (42%) of people with parental responsibilities anticipated their financial situation would worsen in the coming year, with more than half (54%) of them saying they worried more about money now than they did a year ago.
On Christmas day, StepChange saw nearly 4,000 seekers of debt advice flood its website. Vikki Brownridge, chief executive at the charity, said: “It’s clear that millions of people across the UK are feeling the weight of financial uncertainty.
“What’s concerning is how many are facing worries about their finances going into 2025, even more so than this time last year. These challenges are not temporary. They reflect the long-term financial pressures many are facing and without the right support, it’s only going to get harder for people to manage their finances.
“We know that debt is often a consequence of these mounting pressures, and for many, seeking help as early as possible can make a significant difference. If you are struggling, speak to your creditors who have a responsibility to support those in difficulty.”
Debt advice charities stand ready to assist with guidance on tackling debt and budgeting effectively. The survey was conducted by Censuswide with 2,000 people across Britain in December 2024.
