The FCA presents the findings from a survey undertaken in January 2024 to understand the financial impact of the increased cost of living on adults across the UK.
Key findings include:
Since January 2023 there has been an improvement in the number of people finding it hard to manage the higher costs of living, although challenges remain for some groups.
The cost of living continues to have an impact on the financial lives of some adults in the UK. In January 2024:
- 7.4m (14%) felt heavily burdened by their domestic bills and credit commitments
- 5.5m (11%) had missed any of these bills in the previous 6 months
- 14.6m (28%) were not coping financially or finding it difficult to cope
- 5.9m (11%) had no disposable income