Most Scots ‘Run Out of Money Before Payday’

June 12, 2017

A majority of Scots sometimes find themselves having run out of money in the days before they receive their pay checks.

That’s according to a study commissioned by Scotland’s Citizens Advice charity, which found that 51 per cent of Scots run out of money before being paid at least “occasionally” and 15 per cent do so on a very regular basis.

The research sheds light on some of the financial problems being faced across the country and has led Citizens Advice to suggest that “for most Scots debt is just a fact of life”.

Worryingly, only 42 per cent of the respondents to the charity’s survey said that they understand their rights with regard to debts and their debt management issues.

The figures also show that 55 per cent of Scots would be unable to pay off an unexpected bill worth £100 or more without resorting to some form of borrowing or dipping into their savings.

Meanwhile, the comparative figure for an unexpected bill worth £250 or more is apparently as high as 69 per cent.

People in full time jobs and older people are reportedly less likely than others to find themselves in debt but there are now understood to be a great many Scots who earn a regular and reliable income but nonetheless find themselves struggling with debt problems.

“This study shows that for most Scots debt is just a fact of life. It also shows that debt is not just an issue for people who are on low incomes,” said Citizens Advice Scotland’s policy manager Keith Dryburgh.

“Many working Scots on reasonable salaries occasionally need to borrow money to get them from one payday to the next.

“While many of these people would not regard this as a crisis situation, our research also finds that many people are vulnerable to financial shocks, like being unable to pay a sudden bill without getting into debt or using savings.”

If you live anywhere in Scotland and are finding it difficult to cope with your debt management problems then Scotland Debt Solutions can help. Contact one of our offices directly to arrange a free and confidential consultation.

John Baird

Insolvency Adviser

Tel: 0800 063 9250

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