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A Third of Brits are used to being penniless


A third of people in the UK are used to being completely penniless, with no money in their bank accounts or wallets, and no ability to borrow money.
Research from bank account provider ThinkMoney shows that a third of Brits find it a regular occurrence to have no access to money, and a further third of people claimed they have found themselves penniless at least once.

People claimed that they run out of money during the month for a number of different reasons, such as low disposable incomes (29%), unexpected bills and expenses (23%), overspending (16%), redundancy and unemployment (10%) or by miscalculating their budget (6%).

Worryingly, a third of men and 20% of women claimed that they feel depressed when penniless. A whole 40% of those in the 35-44 age group struggle the most to make their money stretch through the month, compared to only 22% of those aged over 55.

Ian Williams, a spokesman for Thinkmoney, said:
“The research shows that many families are struggling to make ends meet each month. For a third of people to find themselves penniless on a regular basis or even from time to time is alarming.
“Managing budgets has become an ordeal for many people with an unexpected bill having a huge impact on their ability to cope. This can leave people feeling depressed, upset and angry and can put families under strain.”

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