A new survey conducted in the United Kingdom, Europe’s second-largest economy, revealed that more than 2.1 million families face difficulties in paying basic expenses, such as energy bills, loan repayments, and credit card fees.
According to research conducted by Which and published in the British media, more than half of families in Britain (55%) have made changes to their lifestyles to cope with increasing financial pressures.
These changes include cutting back on basic expenses, relying on personal savings, selling property, or even borrowing to fill the financial gap.
This represents a significant increase from 44% two years ago.
The research also revealed that eight out of 10 people believe their personal financial situation will deteriorate, and they feel pessimistic about the future of the economy.
In addition, most people surveyed expect an increase in the cost of fuel and food bills.
The economy is expected to deteriorate in the coming months, based on the opinions of more than half of Britons.