Welcome!

News Feed Item

Baines & Ernst Release Personal Debt in the UK 2014 Infographic

MANCHESTER, England, September 3, 2014 /PRNewswire/ --


- A snap shot of how personal debt is affecting people in 2014, compared to 2013 statistics

In 2013, Baines & Ernst - a leading financial solutions company - published the Infographic "Personal Debt in the UK", which provided a visual insight into debt in the UK.

The Infographic illustrated several key areas of concern for people in the UK, including debts that caused the most worry and factors that contributed to debt problems.  

Has the financial outlook for people in the UK changed in 2014? 

"Whilst the economy may be moving in the right direction, we know people are still struggling to keep up with debt repayments as the cost of living continues to rise," says Shaz Sulaman, Joint Managing Director at Baines & Ernst.

Using the statistics released by ComRes in their publications: "R3 - Personal Debt Snapshot - Wave 13", Baines & Ernst has created a brand new Infographic "Personal Debt in the UK 2014". The information was gathered from interviews with 2,013 GB adults and showed that 51% of people were worried about debt in some way; this is up 21% compared to the previous year. So what factors are driving people into debt?

Reliance on credit grows 

865 people answered multiple choice questions relation to why they felt like they were struggling. 59% of people said rising food costs; 52% said rising energy prices and 38% said rising transport costs.

Reliance on credit has grown significantly since last year. 1,030 polled said they were worried about credit card debt at 43%; overdraft debt at 22% and bank loans at 17%.

Perhaps the most startling insight is that out of 1,030 people polled, 9% admitted that they were worried about payday loan debts - this is up 200% compared to last year.

Statistics released by Money Charity show that outstanding personal debt in the UK stood at £160 billion at the end of April 2014; this is up from £156 billion compared to 2013.

"Turning to credit in order to write off existing debts could lead to further financial problems in the future.

"25% of those polled expected their financial situation will worsen in the next six months, if you cannot afford to repay your credit card or store cards in full every month and continue to spend, your situation can easily spiral out of control. There are many debt help solutions available, from budgeting advice to debt repayment plans that make getting out of debt more affordable, so we would urge those who are worried to seek help as soon as possible," says Shaz Sulaman, Managing Director at Baines & Ernst.

Links:

Baines & Ernst - http://www.bainesandernst.co.uk/

debt in the UK - http://www.bainesandernst.co.uk/infographics/personal-debt-in-the-uk/

Shaz Sulaman - http://www.bainesandernst.co.uk/shaz-sulaman/

Personal Debt in the UK 2014 - http://www.bainesandernst.co.uk/infographics/personal-debt-uk-2014/

Money Charity - http://themoneycharity.org.uk/debt-statistics/


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...