Policies for the Management of Household Debts in the UK
It’s been a tough few years for people in the UK. The pandemic meant that income was reduced, and households struggled as a result. Now, thanks to several different reasons, energy prices are increasing and the cost of living is also rising. As such, it is hardly a surprise that it’s becoming harder and harder for people to manage their household debts effectively. The number of households that have money worries has soared over the past 12 months or so. Research has revealed that nearly half of the population of the UK are finding it difficult to keep up with their household bills and loan repayments. This is up massively from the previous year. There are a number of different ways that you can try to deal with this and these are going to be outlined in more detail below. Here are some main policies you should consider when managing your household debts in the UK. The first thing that you should do is recognise that there is a problem. This is because a lot of households wait too long