FCA warns that eight million are struggling to keep up with bills

Almost six in ten UK adults are struggling to keep up with their bills, according to new research from the Financial Conduct Authority (FCA).

Almost six in ten UK adults are struggling to keep up with their bills, according to new research from the Financial Conduct Authority (FCA).

The research estimates that 7.8 million people were struggling to keep up with their bills - an increase of around 2.5 million people since 2020.

In addition, 60% of UK adults are estimated to be finding it a 'heavy burden' or 'somewhat of a burden' keeping up with bills.

One in four UK adults has said they were in financial difficulty or could find themselves in difficulty if they suffered a financial shock.

Some 4.2 million people have missed bills or loan payments in the six months before the survey took place.

Sheldon Mills, Executive Director of Consumer and Competition at the FCA, said:

'Our research shows that people up and down the country are struggling to keep up with their bills.

'If you are facing financial difficulty, you don't need to struggle alone. There is free debt advice available, and we have told firms that they must work with their customers to solve any problems with payment.'

Internet link: FCA website

Contact Us

T: 01604 718866
E: info@phm-accountants.co.uk

Social

Home | Privacy | Site map | Contact us | Accessibility | Disclaimer | Help | Diversity Report

© 2025 Phipps Henson McAllister. All rights reserved.

powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.

Phipps Henson McAllister are registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK, under reference number EWC008449569.

This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.