Scots Expect Cost of Living Crisis to Worsen in 2023

People in Scotland are generally expecting to see the cost of living crisis worsen over the course of 2023.

According to recent polling, as many as 71 per cent of Scots anticipate seeing their personal finance pressures intensify rather than ease off this year.

The figures are from the advisory and advocacy organisation True North, which enlisted the polling firm Survation to get a sense of current perspectives among Scottish households.

In addition to worrying about how much further their money will need to go this year, many Scots are already struggling to cover their monthly outgoings and manage their debts.

Survation’s data suggests that only 32 per cent of people living in Scotland never had to worry about how they would pay their energy bills over the past six months.

Clearly, therefore, most people did at some point struggle to pay their energy bills, with that stressful situation apparently now a regular occurrence for roughly one in four Scottish residents.

More generally, 50 per cent of the people polled by Survation recently said they have either ‘sometimes’, ‘often’ or ‘all the time’ struggled to pay their household bills in the past six months.

At the same time as the cost of living crisis is taking a toll on the finances of households across the UK, more and more people in Scotland are being pushed into serious debt problems.

Increasingly, individuals and families are finding that their incomes can barely cover their outgoings and, for many, that means an increased reliance on debt.

Charities and campaign groups have been consistently warning that the cost of living crisis will continue to push people into problem debt situations for as long as it continues.

Claimants of Universal Credit are particularly vulnerable to inflationary pressures and rising bills, with charities including Citizens Advice Scotland having called on government policymakers to do more to help and support people on benefits who can’t manage their debts.

If you live in Scotland and you are worried about your personal debt situation then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.