Everyday in the UK
Personal Debt in the UK
The population of the UK grew by an estimated 151 people a day between 2020 and 2021.
- On average, a UK household spends £4.13 a day on water, electricity, and gas.
- 271 people a day were declared insolvent or bankrupt in England and Wales in June 2023 to August 2023. This was equivalent to one person every 5 minutes & 19 seconds.
- In Northern Ireland in July 2023, there were 3.5 insolvencies per day. In Scotland in the three months to March 2023 there was 21.2 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 2,347 debt issues every day in the year to July 2023.
- 6.7 properties were repossessed every day in April to June 2023 in the UK, or one every 3 hours and 35 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance increased by 20.5 a day in the year to June 2023.
- The number of people unemployed in the UK increased by 658 per day in the twelve months to July 2023.
- 1,109 people a day reported they had become redundant in May to July 2023.
- Net lending to individuals and housing associations in the UK grew by £42 million a day in July 2023.
- Government debt increased by £339 million a day in the three months to August 2023.
- Borrowers paid £180 million a day in interest in July 2023.
- It costs an average of £24.44 per day for a couple to raise a child from birth to the age of 18.
- For a lone parent family, the cost of raising a child comes to £29.50 per day.
- 43.8 mortgage possession claims and 8.6 mortgage possession orders were made every day in England and Wales in April to June 2023.
- 247.7 landlord possession claims and 62.2 landlord possession orders were made every day.
Arising from the current climate
The UK has undergone a significant degree of political and financial turmoil over the past few years. The pandemic and ongoing cost of living and energy crises, among other events, have affected the lives and finances of many people across the UK. Following are some striking statistics, curated over the last few weeks to reflect the situation as it evolves:
£22 billion
The amount that households in the UK owe in bill debt (not including water or rent arrears) (Citizen’s Advice).
17%
Percentage of adults who have £0 or less (meaning they are using an overdraft) left in their bank account the day before payday (TopCashback).
46,431
The number of people with energy debts who contacted Citizens Advice for help in the first six months of 2023, a 17% increase on the same period last year. Those who contacted Citizens Advice for help had debts averaging £1,711 (Citizen’s Advice).
7.0%
The inflation rate for housing, water, electricity, gas and other fuels in August 2023. This is down from 26.1% in March 2023 (ONS).
27%
The percentage of people who are currently behind on at least one household bill (Citizen’s Advice).
2/3
The proportion of 18-24 year olds who report that they have lowered their career expectations due to worries about the cost of living, the state of the UK economy and their own mental health (Princes Trust).
44%
The percentage of young people living at home who report that they were unable to move out because they were needed to help their families pay the household bills (Princes Trust).
Statistics Source: http//www.themoneycharity.org.uk
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