UK Personal Finances and Spending
Over the past decade personal income growth in the UK has stagnated and inflation has eroded disposable income. Borrowing has been a real driver of growth in consumer spending, in spite of concerns over the strains that debts are placing on household finances. At the same time, while some consumers have been motivated to put money to one side, in anticipation of more tough times ahead, others have been less able than ever to build up a buffer.
This report utilises survey responses from more than 2,446 consumers, across 2017 and 2018. It looks at saving rates and how these are changing, at how common borrowing is, where consumers are borrowing from and how manageable their debts are. Most crucially it evaluates how consumer savings, debt levels and access to credit impact what they spend their money on, and particularly how it is causing them to reduce expenditure on their homes."
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