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UK families suffer from over £79,000 worth of unsecured loans and debt

By Sarah Engle, Wed 31 Aug 2011 - Published in Loans

The typical British family has unsecured loans and debt worth £79, 816, according to research by Aviva.

Its Family Finances Report highlighted that this average has gone up from the £73,690 figure recorded in January 2011.

Furthermore, many Brits are struggling to make any savings and investment because of rising living costs, with food prices increasing by up to 6.4 per cent and fuel and lighting bills rising by around 7.45 per cent.

On top of this, 95 per cent of UK households worry that they are not completely protected financially for the future.

Head of protection for Aviva, Louise Colley, added: "Faced with rising costs and largely static salaries, UK families are more worried than ever about their finances."

Terri Bodell, the Stress Doctor, recently noted that people with outstanding loans and debt should talk to someone trustworthy about their financial worries and problems to help reduce stress levels.