Debt problems before payday
23/12/2010Millions of people in the UK are struggling to make it as far as their next payday without falling into debt problems.
National insolvency company R3 says that almost four in ten people are running out of funds for their spending early, each month.
According to the firm’s quarterly tracking research on the nations personal finances, this equates to more than 18 million adults across the country.
Of those who find it difficult to get to ‘payday' each month, their struggle tends to begin on the 19th of each month.
The major debt reasons said to be at the root of these debt problems is with spending on luxuries and the use of credit cards.
Kevin Still, Director of Atlantic Financial Management says: "December is a month where debt problems can be acute and being paid early can sometimes be a double edged sword when it comes to making funds stretch until the January pay day. We recommend that people don’t borrow more if their finances have become unmanageable, instead you should be seeking professional debt advice." 
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