What are your top financial concerns?

Nearly nine in ten people are worried about the rising cost of living.

According to TransUnion, 85% of UK adults say inflation on everyday goods is one of their top three financial concerns right now.

This was followed by interest rates (54%) and fears of a possible recession (42%).

Bills and loan repayments are another big concern, with 49% of people expecting theirs to rise in the next three months.

Households cutting back on non-essentials

Unsurprisingly, these worries are leading to people spending less on treats and luxuries like eating out, holidays and entertainment.

Figures from TransUnion show that almost half (47%) have already reduced spending on non-essentials in the last three months.

And more than four in ten (41%) plan to cut back even more in the next three months.

What can you do to manage rising costs?

If you’re struggling with the rising cost of living, there are ways to ease the financial burden.

Check your benefits

You might be eligible for financial support from the government, so use our benefits calculator to find out what help you could get.

Review your spending

Take charge of your spending and see where you can make savings with our handy budget planner.

Tackle problem debts

If cost of living pressures have led to you falling into debt, then get in touch for confidential, practical and impartial debt advice.