More Than 7 Million Britons Still Struggle to Pay Bills, Finance Watchdog Says.

According to the Financial Conduct Authority, approximately 7.4 million people in the UK are currently struggling to pay their bills, although this number has decreased from 10.9 million in January 2023. However, it is still higher than the 5.8 million recorded in February 2020 before inflation increased. The FCA's survey of 3,450 UK adults found that 5.5 million people had fallen behind on or missed payments for domestic bills or credit commitments in the previous six months. The FCA also noted that renters, single adults with children, adults from minority ethnic backgrounds, and those living in the north-east of England were more likely to experience financial difficulties. This data highlights the ongoing financial struggles faced by many households in the UK. [Extracted from the article]