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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Inflation causing misery for Brits

30/07/2008

New research from Legal & General has suggested millions of people are experiencing "increasing misery" due to the higher costs of living.

According to the study, only 57% of people earn more than they spend on debts and bills. In total, nearly 5.3 million people are now living beyond their means.

Director of wealth customer marketing at the Legal & General, Jonathan Latham, said people facing debt management problems should carefully review their spending habits.

"If you are struggling financially, don`t bury your head in the sand but speak to an adviser who can help you manage your financial situation," he said.

However, the figures also show an increase in consumers putting money aside for the future, with twice as many people saving than spending. According to Mr Latham, "careful budgeting" will allow people to save, even if it is a small amount.

The study found women, older people and singles are faring best in the credit crunch.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according