More than a third of Brits "stressed out by cash concerns"

Unpaid billsMore than a third of UK adults worry about money every day, according to new research from MoneySupermarket.

And three quarters of those with money worries believe their financial stress will get worse in 2014 - even though the economy is forecast to improve.%VIRTUAL-SkimlinksPromo%

In fact, the performance of the UK economy seems to have little impact on how stressed individual Britons are about their finances.

The new figures indicate that some 18.4 million people are stressed out by cash concerns today, up from just 15 million in 2011 – when the recession was in full flow.

And for most people, their immediate financial situation is the reason for their concern. One in five of those who responded to the survey cited this as the main cause of stress, while 17% said it was their future financial situation that was worrying them.

Clare Francis, editor-in-chief at MoneySupermarket said: "Even though the state of the economy has improved in 2013, anxiety about money is still on the rise for many adults, and there is a real fear that 2014 will continue to be difficult."

Rising living costs are a big factor. More than half of the respondents said the rising cost of living was a key factor in increasing their stress burden.

Francis said: "Some costs have fallen, such as petrol and diesel, but many bills are higher than they were a year ago.

"The recent round of energy price hikes for example, has pushed more people into fuel poverty and millions of people simply can't afford to adequately heat their homes."

She is urging people to ease the financial strain by making sure they are not paying over the odds for products and services such as car and home insurance and energy.

"Often, small changes can mount up to sizeable savings," Francis added. "So even if you think you've cut back in every way you can, take another look at your outgoings as there are probably other things you can do to free up some cash."
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