Which? Consumer Insight - An online resource providing a uniquely detailed picture of consumers

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Five levels of financial difficulty

Cutting back only
6%
-1

In February 2020

6%

are cutting back

-1

lower than March 2019

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Using savings to cover spending & cutting back
4%
-1

In February 2020

4%

are using savings to cover spending & cutting back

-1

lower than March 2019

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Borrowing from friends/family, using credit or authorised overdrafts & cutting back
7%
0

In February 2020

7%

are borrowing from friends/family, using credit or authorised overdrafts & cutting back

lower than March 2019

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Using unauthorised overdrafts or payday loans
3%
0

In February 2020

3%

are using unauthorised overdrafts or payday loans

lower than March 2019

Compare this

Defaulted on loan, bill, or housing costs
7%
-1

In February 2020

7%

have defaulted on a loan, bill, or housing costs

-1

lower than March 2019

Compare this

Our squeezometer groups UK adults according to the financial difficulty they had in the past month. Respondents are grouped on the most severe difficulty they said they'd faced.

* Data are collected via online poll for approximately 2,000 respondents each wave. Results are weighted to be nationally representative.

Overall financial difficulty

28%

Feeling the squeeze

The percentage of households who are either cutting back their spending on essential items or have used an unauthorised overdraft, payday loan, or defaulted on a loan or housing costs in February 2020

-2%

Compared to March 2019

Tracker

The Which? Consumer Insight Tracker website is an online data resource, providing a uniquely detailed picture of today's consumers.

Five levels of financial difficulty

Cutting back only

In February 2020

6%

are cutting back

Using savings to cover spending & cutting back

In February 2020

4%

are using savings to cover spending & cutting back

Borrowing from friends/family, using credit or authorised overdrafts & cutting back

In February 2020

7%

are borrowing from friends/family, using credit or authorised overdrafts & cutting back

Using unauthorised overdrafts or payday loans

In February 2020

3%

are using unauthorised overdrafts or payday loans

Defaulted on loan, bill, or housing costs

In February 2020

7%

have defaulted on a loan, bill, or housing costs

Overall financial difficulty

28%

Feeling the squeeze

State of the economy in 2020

0.0%

3.9%

+1.7%

+0.1%

-0.1%