Struggling Scots urged to seek cost of living advice

People struggling with household bills have been urged to seek help as a survey reveals 600,000 feel a “heavy burden”.

Research by the Financial Conduct Authority (FCA) shows 14% of Scottish adults are finding it difficult to keep up with their domestic bills or loan payments.

The Financial Lives survey also found that around 400,000 people had missed a bill or a loan payment in at least three of the six months to May this year – around 8% of adults.

Advice Direct Scotland, which runs the national debt advice service moneyadvice.scot, said people who are in financial difficulty should get help.

A snapshot of the latest Financial Lives survey was published days after analysts at Cornwall Insight warned average annual energy bills could go above £4,000 when the UK Government’s Energy Price Guarantee ends in April. Colin Mathieson, of Advice Direct Scotland, said: “This new survey from the Financial Conduct Authority shows the impact that the costof-living crisis is having. It is important that people realise they do not have to struggle alone.”