16th April 2015
Budgeting account provider thinkmoney.co.uk has claimed that a third of Britons are used to being completely skint with no money in their bank account or wallet and no ability to borrow.
The organisation’s research found a similar amount of people admitted that they have found themselves penniless at least once.
Those living in Wales, at 39%, Scotland, at 38%) and the West Midlands, at 37% are the most likely to run out of cash, the study revealed.
Interestingly, those in the 35-44 age group, at 40%, struggle the most to make ends meet every month, compared to only 22% of those aged over 55.
The most common reasons cited for running out of money are
Some 29% of people cited low disposable incomes as the primary reason they run out of cash, while 23% blamed unexpected bills and expenses and 10% pointed to redundancy and unemployment.
The figures show that men and women react differently to being penniless. A third of men say they feel depressed, compared with 20% of women and men are three times more likely than women to feel angry about their situation.
Ian Williams, a spokesman for thinkmoney, says: “The research shows that many families are struggling to make ends meet each month. For a third of people to find themselves penniless on a regular basis or even from time to time is alarming.”