As many as one in eight people in Wales are finding it a 'constant struggle' to keep up with their bills, according to the latest findings from the National Survey of Wales.
The National Survey collects detailed information on the views and experiences of people across Wales on a wide range of topics, involving face-to-face interviews with around 14,500 people a year. The latest report, for 2012-13, focuses on the issue of financial inclusion.
- 48 per cent of people interviewed said they had no difficulty keeping up with bills and credit commitments: but 33 per cent said it was a struggle from time to time; 12 per cent found it was a constant struggle; and 3 per cent said they were falling behind with some bills or credit commitments.
- Age is an important factor: 66 per cent of people aged 65 and over were able to keep up with their bills without difficulty, compared with 42 per cent aged under 65.
- Households with children, whether containing one adult or two, were the group most likely to struggle from time to time or constantly with their financial commitments.
- People in rented social housing were most likely to be experiencing financial problems.
- Levels of well-being were at their lowest where people were having difficulty keeping up with their bills or credit commitments.
Jeff Cuthbert, Welsh Government Communities Minister, said: 'These figures reveal once again that despite the improvements in the economy, many people across Wales face tough financial times and are struggling to deal with the realities of spiralling debt'.
Source: National Survey for Wales, 2012-2013: Financial Inclusion, Welsh Government
Links: Report | Welsh Government press release