One in four Britons has debt other than mortgage. Shock! Whatever next? Grass to be declared green? Sky to be confirmed blue? Honestly, is this such a surprise? When property prices are so high, and people have mortgages which are worth four times their salary or more (or are paying equally astronomical sums in rent), then the only way for most people on typical salaries to have anything other than a most basic lifestyle is to borrow money. The trick, of course, is to carefully plan and manage your borrowings, and not rack up five figure sums on credit cards buying things you don’t really need. Anyone who does that must surely deserve all the hardship they get as a result. All it takes is common sense.
I don’t offer a solution, I just wonder why this is such surprising news.
separating the wanted from the unwanted