Quarter of public say they are ‘squeezed but coping’

A QUARTER of the public are “squeezed but coping”, according to new categories created by the polling company Yougov.

The firm used an algorithm to analyse 11,000 responses in a survey that asked participants how they were coping with the current cost of living crisis.

As a result, researchers believe they have identified five groups.

The most well-off are the “calm and comfortable”, constituting around one in five, who say they’ve not made any changes to their spending and have had no concerns paying their energy bills.

The “worried and suffering” have been hit hardest by the crisis, struggling to afford their food and bills, and are concerned about their financial position, employment and housing. Doing slightly better are the “cautiously hopeful strugglers”, making up one in seven of the population. While feeling the pinch and making cuts, this group have the “most positive outlook” about the economy and their own finances. They tend to be young, containing the highest number of students.

The squeezed but coping represent the “middle of the road” on most metrics, feeling the effects of the financial situation but managing so far.

They have made necessary cuts but are affording the essentials.

The “unsettled withstanders” sit just below the wealthiest cohort. About one in five fall into this category and while they have not yet felt the financial impact of the situation, they are very worried for the coming months.