According to a recent report from Credit Action, every adult in the UK now owes an average of £30,228 including their mortgage – that’s 126% of average earnings.
The impact of these debts can go far beyond just affecting spending power and wealth, with relationships and health also being jeopardised. And it’s not just one group of society that’s feeling the effect; the recent recession has brought these problems to a wider section of the population.
Statistics suggest that more couples have been looking to professional counselling to ease relationship problems caused by financial worries. According to The Telegraph, there was a 59% increase in enquiries received by the relationship charity Relate’s advice helpline in 2008 compared with 2007, including twice as many calls related to money arguments. These figures may well have increased in 2009/10 as the recession continued.
It has also been reported that the economic downturn can have an effect on health and can increase the risk of a stroke.
Earlier this year, a leading psychologist reported that the risk of suffering real mental and physical health problems, including the likelihood of a stroke, is higher during a recession.
If you are experiencing debt problems, seeking professional debt advice is recommended. There are a number of debt solutions designed with you in mind that will offer real help to turn your debt around and take the strain out of your financially-induced relationship and health worries.