What's The Average Personal Debt in the UK?

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In this video, we explore the current state of personal debt in the UK. We discuss the various forms of personal debt and identify the factors contributing to the rising levels of personal debt in the country.

With data from multiple sources, including the Office of National Statistics and The Commons Library, we offer insights into patterns and changes in UK personal spending habits.

Additionally, we provide tips for managing personal debt, including creating a budget, considering debt consolidation, and seeking help from organizations like StepChange and the National Debtline.

Read more about the Average Personal Debt in the UK here: https://www.moneynerd.co.uk/average-p...

The information provided in this video is for editorial purposes only and not intended as financial advice. Free debt counselling, debt adjusting and providing of credit information services are available from MoneyHelper, an independent service set up to help people manage their money. You can find out more by contacting MoneyHelper. MoneyNerd is not associated with MoneyHelper, we just think they're great.

MoneyNerd does not give specific debt advice and we recommend that you always discuss your personal situation with a qualified adviser that works for a company that is authorised and regulated by the Financial Conduct Authority. With your consent MoneyNerd may pass you on to a trusted debt counselling company or insolvency practitioner. MoneyNerd Limited is an Introducer Appointed Representative of Pacific Financial Solutions Ltd who is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 688034) and is classed as a debt counselling firm. Their in house IPs are Jason Bowen who is authorised to Act in the UK by the Institute of Chartered Accountants of Scotland (ICAS). Licence no. 22150 and Laura Stewart who is authorised to Act as in the UK by the Insolvency Practitioners Association (IPA). Licence no. 23590.