Financial distress
Nearly four million more people in the UK are struggling to manage financially since the cost-of-living crisis began. Financial distress affects wellbeing, relationships and people’s sense of security and control over their lives.
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People in financial distress may struggle to concentrate at work and be less productive, which can affect their earnings. This can also impact on their ability to keep a job or progress in their career.
The increase in money worries due to the cost of living crisis is costing the UK more than £19 billion per year. That breaks down into around £8 billion in reduced productivity or employment and around £11 billion in lost wellbeing.
