More than a third of people ‘have cut social activities amid high living costs’
Some 13% of people are already behind on bills and 42% have borrowed money to cope with rising costs, according to Christians Against Poverty.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.People’s social lives are shrinking as they search for ways to cut back on their living costs, according to a debt help charity.
More than four-fifths (84%) of people surveyed across the UK in August said they have been financially affected by the cost-of-living crisis.
Nearly (49%), reported their bills and costs have risen by between £101 and £500 a month, Christians Against Poverty (CAP) said.
Over a third (37%) have cut out socialising and leisure activities.
Six in 10 (61%) have reduced their energy use to save money, 46% are shopping around more and using cheaper supermarkets and 16% are skipping meals, the survey of more than 2,200 people found.
With a tough winter ahead, 13% of people are already behind on bills and 42% have borrowed money to cope with rising costs.
Of those who have borrowed money this year, 40% have borrowed £1,000 or more, with 15% borrowing more than £3,000 during 2022.
Over a third (36%) of those with debts expected to take over a yearto repay the debts they have already built up in 2022, while 13% do not know how long it will take them to pay their borrowing back.
CAP’s director of external affairs, Gareth McNab, said: “People are facing a personal and growing debt crisis.
“Low income households have been hit the hardest and are being left with little choice but to borrow to pay for essentials. Many will be forced to take on a lot more debt during the colder months just to survive.”
He added: “Living shouldn’t cost everything. But for millions, it does.”
Many will be forced to take on a lot more debt during the colder months just to survive
The Government recently announced the energy price guarantee, which will reduce the unit cost of electricity and gas so that a typical household in Britain pays, on average, around £2,500 a year on their energy bill, for the next two years, from October 1 2022.
It has also announced support including a £400 discount for households, plus additional targeted support.
Measures including a raft of tax cuts were also set out in the mini-budget on Friday.
The pound has since plunged to an all-time low against the US dollar amid hammered market confidence in the economic plans. Experts have warned the pound’s plunge will send the cost of goods higher, potentially worsening the cost-of-living crisis.
CAP said the people it has helped include a man who previously worked on an oil rig who is now unable to work due to ill health.
The man, who receives Universal Credit, said: “CAP have been brilliant as they put your mind at rest and give you all the advice you need but with the bills increasing now, it’s getting worse.
“I’m really frightened about the gas bill coming.”