As prices rise across the board more consumers are turning to credit to cover everyday costs. Now around a third of us spend some of each month in the red, according to research from Hargreaves Lansdown. One in 10 also spend at least half of the month in the red and one in 20 are trapped in a never-ending cycle of debt.
The cost of living crisis has seen prices rise on most things we regularly buy, with significant hikes to energy and council tax bills. The Ukraine war has added to this financial pressure and things are going to get a lot worse before they get better.
