COST OF LIVING CRISIS.. MISERY GROWS

One in three people who have been building a deposit for a home say they have decreased or stopped saving for this goal due to rising living costs. According to the TSB survey, 83 per cent said they have worries about their personal finances.

More than four million UK household have resorted to buying lower-quality food and selling possessions to make ends meet. Households earning more than £100,000 a year were the only group who did not report an increase in serious hardship.

More than one in 10 students are using food banks because they cannot make ends meet. The survey of more than 3500 university students by the National Union of Students found that a third of them were living on less than £50 per month after paying their rent and bills.