Citizens Advice Scotland survey reveals a quarter of Scottish adults find it ‘difficult’ to make ends meet on their current salary

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26th February 2020 11:38 - Financial Services

Citizens Advice Scotland survey reveals a quarter of Scottish adults find it ‘difficult’ to make ends meet on their current salary: A survey has found that many people in Scotland have concerns around their finances, with a quarter admitting they find it 'difficult' or 'very difficult' to cope on their current salary. 

The Citizens Advice Scotland (CAS) survey of more than 2,000 Scottish adults also found that a quarter (25%) said that 'most of the time or 'always' they ran out of money by payday which left them with no choice but to rely on overdrafts and credit cards.

It also found that three in ten people would like to be able to save money each month, putting £20 aside for a 'rainy day', however, they feel that this is simply out of reach due to their financial situation.

Similarly, a quarter (25%) would like to be able to put savings regularly into a pension pot, but can't afford to do so. 

In addition, 23% said they cannot afford to have the recommended levels of dental treatment due to financial difficulties, while 28% said that they cannot afford to maintain  the decorative upkeep of their homes owing to financial constraints. 

Of the respondents who said they 'always', 'most of the time' or 'sometimes' run out of money before the end of the month (47%)  seven in ten of these (71%) said this left them feeling 'stressed', while 62% said they felt 'anxious' and 56%, 'depressed'. Two fifths of respondents (42%) said they felt 'embarrassed' by their financial situation, while 36% felt 'ashamed' or 'angry' (30%). Just under a third (32%) said they felt 'tired' of having no money left by the end of the month, while 28% said they felt 'scared' by the situation. 

CAS Chief Executive Derek Mitchell said of the findings:

"If nearly half of Scots sometimes run out of money before payday and most of them experience depression, stress or anxiety as a result, we need to think seriously as a society about the wider impacts of low incomes. This situation isn’t sustainable.”

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