Can I get my debts written off?
Find out which debt solution is right for youGet started
Answer a few simple questions
See if you are suitable
Understand your next steps
If you're skint, you're not alone. We found that over half the UK knows what it feels like.
Being skint can be the worst feeling in the world. It's not just about not being able to treat yourself - as most of us know, being truly skint can mean serious problems when there are bills to be paid, food to be bought, kids' clothes to be replacedâ€¦
When we did some research to find out how common it is, we got some worrying results.
It turns out that 3 in 5 know what it's like - which means 30 million people across the UK have been penniless at some point in the past. 10 million are skint 'from time to time' or 'regularly' today.
And that's truly skint:
- No money in the bank
- Nothing in the purse / wallet (or next to nothing)
- No other way of getting some money
Of course, it doesn't really help to know how many others find themselves in this situation, but it does mean there are organisations with plenty of experience helping them - like Debt Advisory Centre. If you're struggling with debts and other money worries, you can talk to a debt adviser on 0800 195 2714.
Age & location play a big part
We're not all equally likely to run out of money.
As you might expect, some parts of the UK do a lot better than others. We asked people all over the country and found that:
- While 33% of the people in Northern Ireland said they'd never been skint,
- 49% of the people in the South East of England said that.
Age makes a big difference too:
- The 55+ age group stood out for two reasons. People in this group were:
- by far the most likely to say they'd been skint in the past, and
- by far the least likely to say they found themselves penniless these days.
- People between 25 and 34 were three times as likely to run out of cash.
So what makes people penniless?
People run out of cash for different reasons. The top 5 reasons we discovered in our research:
Who said this the most?
|How many skint people said this||Age||Gender||Region|
|1||My income's only just enough for me to live on||31%||People aged 55 or over||Women||People in Northern Ireland|
|2||Unexpected bills & expenses||16%||People aged 25-34||Women||People in Wales|
|3||I've overspent||15%||People aged 35-44||Men||People in the East Midlands|
|4||I've lost my job||11%||People aged 45-54||Men||People in Yorkshire & the Humber|
|5||I'm trying to keep up with my debts||11%||People aged 35-44||Men||People in Northern Ireland|
How does it make you feel?
Everyone reacts differently to this kind of stress, but your gender might be more of an influence than you thought.
|Emotional impact of being skint||Who's more likely to feel this way?||How much more likely?|
What can you do about it?
It depends why you're skint. Earning more isn't always possible - and neither is spending less.
But millions of people run out of cash because they're trying to keep up with their debts. If your debts are taking up money you need for life's essentials, did you know your lenders might agree to accept smaller payments?
You'd still need to pay as much as you can afford each month, but knowing you've got enough left for the things you really need could make a huge difference to your stress levels.
We could help you negotiate those lower payments. Call us on 0800 195 2714 and find out what we could do to help you.
by Emily BancroftBack to blog home