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More than nine million UK adults borrow money to pay for food - research

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More than nine million UK adults borrow money to pay for food - research

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Published by Max Salsbury for 24dash.com in Communities and also in Bill Payments, Housing

More than nine million UK adults borrow money to pay for food - research More than nine million UK adults borrow money to pay for food - research

More than nine million people in the UK say they borrowed money to pay for food last month, according to research published today.

The shock figure for February is based on data from a survey carried out for the Debt Advisory Centre, which revealed that 18.7% of respondents said they had to borrow to buy groceries. This is a three-fold increase on the same survey last July when 6% of UK adults said the same.

Debt Advisory Centre Ian Williams said: “It’s very worrying that people have to borrow to pay for food at all, but the fact this figure is rising so sharply is a real cause for concern.

“Borrowing to pay for food is a danger sign that your household finances are out of control. If one of the reasons for this is that you are already struggling to make debt repayments then borrowing more will make matters worse. Either way, people should certainly seek expert debt advice.”

Borrowing cash to pay for food was most common among young people – as it was eight months ago. However, while in July 2013 18% of 18 to 24-year-olds revealed they had done this, this figure had climbed to a third (33.6%) of this age group.

And it’s not just the young; the percentage of 25 to 34-year-olds who say they have borrowed to pay the grocery bill in the last month has more than doubled (from 11% to 23.3%) over the same period, while the percentage of 35 to 44 year-olds increased by more than three-fold (6% to 21.8%).

Across the country, borrowing money to cover the food shopping was highest in London, where 25.6% of respondents revealed they had done so. In comparison, people living in the South West were least likely to rely on borrowing to pay for their food shop – although the number who said they did was still high, at 14.4%.

OnePoll questioned a nationally representative sample of 1,822 adults aged 18 and over between 25th February and 7th March 2014.

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