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Credit card charges: 4 in 5 Brits have money worries

Credit card charges may be one of the reasons why four in five Brits have money worries at the moment.

According to research by The Co-operative Financial Services, utility price hikes are the top cause for these woes.

Findings of the research also showed that 32 per cent of adults do not feel confident that they will be able to pay their bills every month.

John Hughes, director of retail banking at the bank, said: "The fact that 80 per cent of consumers are currently worried about money is a saddening yet unsurprising figure given the current economic climate and increasing cost of living.

"However the research findings also demonstrate some hope, nearly a third are continuing to overspend and this is something that can be addressed to help put money worries to bed."

The ways Brits are cutting down on their outgoings include spending less on nights out, or going out less and having house parties instead.

Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt.


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