It doesnt take an exceptional circumstance or life event to put financial strain on a person. For many, all it takes is putting down a deposit for childcare or repairing a car needed for work or paying for a funeral.
These are real examples of challenges that can interrupt a persons ability to pay bills on time, causing a chain reaction of debt which, compounded by rising interest rates, can be difficult to recover from. One in seven (13%) people in the United Kingdom has no savings and one third (33%) of UK savers said they would struggle to cover a months worth of living expenses if they lost their primary source of income, leaving millions of adults without a financial safety net, according to a 2024 Money.co.uk report.
Its crucial th…
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