How bad is the cost of living crisis in the UK?

Around one in seven, or 7.4m, UK adults struggled to pay their bills and credit repayments in January, according to a survey by the City regulator, as the cost of living crisis continued to bite.
While the figure was up from 10.9m people in January 2023, it’s still above the 5.8m recorded in February 2020, immediately before the COVID-19 pandemic hit and the cost of living squeeze began.
The Financial Conduct Authority (FCA) surveyed 3,450 UK adults who had previously completed its main Financial Lives survey in May 2022.
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Produced by: Larissa Howie, Scarlett Wild, Emmanuel Nwosu

[@havebadday7850]

The cost of living in the Uk is beyind ridiculous.

[@stuartfitch7093]

London is a false economy. People think that by moving there they will be richer but that's often not the case. They may earn more but end up less wealthy.
Take the people on this video asked about their rent as an example. They are probably on something like £70 per year but pay half of that out in rent alone.
Compare that to me. I live in a northern town. I have a decent paid job for the town I live in, £30k per year. But house prices are way lower to start with as is the general cost of living. I have a sole person mortgage. My mortgage repayments are around 1/8th of my after tax income despite only being on £30k per year and being less than half way through my mortgage. This is because local property prices are so low in relation to local wages even though the local wages are low compared to wages elsewhere in the country.

[@BattleBecause]

No one cares about your northern nightmare. You're stuck in the middle of nowhere.

[@leanatale7251]

We can't afford to feed our 5 children, me and my partner have been unemployed since leaving school, we are both heavy smokers and love a drink, not to mention the 2 XL bully dogs cost a fortune to feed, recent cost of living payments were owed to our local dealers, this government has done nothing for us.

[@liamb8644]

You deserve everything xxx

[@IDRIS-wl3qy]

I agree that many people buy things on loans. Why anyone needs a brand-new car is beyond me. The only loan you need is for your mortgage.

[@triston9618]

This is a joke right?

[@cannibalronny7314]

using a condom would have been cheaper,children are aliability

[@MagnifiedLiverpool]

Fake.