A survey of 2,000 adults has found that 43 per cent are now more likely to seek support if they are struggling financially due to the prolonged period of rising costs. The increase in prices of essentials such as energy and food, coupled with the growing number of people grappling with these costs, has prompted 74 per cent to face their own financial difficulties.
However, since opening up about their financial struggles, as many as 33 per cent of those who have done so report feeling less stressed. Furthermore, 31 per cent have felt more in control of their energy spending since they spoke to their energy supplier and had a smart meter installed. "Having a smart meter helps me stay in control of my energy bills as I know what I'm spending day-to-day, but this research shows that four in 10 people worry about paying theirs. If you're worried about your energy bills, an important first step is to speak to your energy supplier."
The research found 78 per cent of adults are open - at least a little bit - to talking about financial worries with friends. Slightly more will discuss issues with family, and half would have such a discussion with colleagues.