Europe UK (Commonwealth Union) – Impacts of the economic crisis brought about as a result of the pandemic lockdowns together with the debt, continue to be reflected across the UK.
Around 19 percent of households are delaying dental treatments due to concerns about affordability. Roughly 35 percent of households experienced at least one instance in the past month where they couldn’t afford a nutritious, balanced diet. A similar percentage of households, about 33 percent, reported experiencing poor sleep at night due to financial worries, while 35 percent stated that their financial situation was negatively impacting their mental health. Additionally, 27 percent of respondents mentioned that their financial situation was adversely affecting their physical health.
The findings from researchers are particularly worrisome for individuals classified as being in “serious financial difficulties,” which accounts for approximately 9.6 million individuals across the UK. Among this group, 1 in 5 individuals had gone without food for an entire day on at least three occasions in the past month. This situation arises directly from the necessity of reducing expenses to save money.
The Financial Fairness Tracker, conducted by Abrin Financial Fairness Trust and analyzed by experts from the University of Bristol, has been tracking the financial circumstances of households since the beginning of the pandemic. The study encompasses a sample of approximately 6,000 individuals.
The findings reveal the severe impact of the cost-of-living crisis on individuals with the lowest incomes, as various indicators of well-being, which have implications for both physical and mental health, have declined since the onset of the pandemic. Among those experiencing serious financial difficulties, a staggering 61 percent of households reported their inability to maintain a warm and comfortable home in the past six months. Similarly, a significant proportion indicated that they were reducing social interactions with friends and family (64 percent) and engaging less in hobbies and recreational activities (61 percent).
