Brits 'stressed out' by debt problems

Money problems are the number one cause of stress in Britain, according to a new survey.

Research from Mintel shows that 40 per cent of Brits are worried about their financial situation, while employment was another 'top five' concern in the list.

In fact, just 17 per cent of Brits say they are not experiencing any worry at all. This is perhaps unsurprising in the context of rises in unemployment and, indeed, household bills.

The study also shows that consumers are taking low cost options to escape their stress. Worryingly, however, one in five admits to turning to drink to deal with their woes.

Kevin Still, director of Atlantic, said that "loss of income and changes in financial circumstances are very common reasons for people starting Debt Management Plans (DMP) or Individual Voluntary Arrangements (IVA)".

"Debt problems are difficult to talk about," he added, "but taking debt advice is probably one of the best steps you’ll ever make."

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