Britons worried about debt
Debt worries are occupying an increasing amount of time for the average Briton, according to new research from the Co-operative Bank.
Cumulatively the population spends 13 billion hours every year wringing their hands about debt, with the average person alone spending up to two years worrying about the problem.
Around half of those surveyed on behalf of the Co-op said they were either 'concerned or deeply concerned' about increasing levels of debt, while 80 per cent were 'troubled' about their level of savings.
Scott McPhail, savings product manager at the Co-operative Bank, said: "It is worryingly clear from the research that the vast majority of UK adults are deeply concerned about their finances, with rising levels of debt and inadequate saving provisions responsible for countless sleepless nights nationwide."
Those at an undergraduate level and those who had recently graduated were among the biggest worriers, unsurprising given the level of debt the average student finishes university with.
Credit Action puts this average debt at £12,363.
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