Managing your money
At the moment we are all experiencing a ‘credit crunch’ and a recession. With your help on Understanding Society, we are uniquely placed to be able to see the effect the financial situation is having on people in all
types of circumstances.
29% of you said you were ‘living comfortably’ and 34% of you were ‘doing alright’. However, a quarter of you are ‘just about getting by’ and around one in 10 are finding things difficult.
Those living in Scotland seemed to feel better off; 36% said they were living comfortably, compared to 29% in England and 24% in Wales.
Almost one-quarter of people (23%) thought that looking ahead they would be financially better off one year from now. A similar proportion (21%) thought they would be worse off. Those living in Scotland were less pessimistic, with just 11% saying that they would be worse off, compared to 18% in Wales and 22% in England.
Almost one-quarter of people thought that looking ahead they would be financially better off one year from now. A similar proportion (21%) thought they would be worse off.
With the data from Understanding Society we will be able to see what impact the recession is having on people’s lives in the longer term, which types of people remain relatively unaffected and which are most badly affected by the financial downturn.
Comments
Paying the bills
Posted by: Scott - over 2 years ago
Fascinating and subjective. One person's 'just getting by' is another person's 'doing alright'. As for 'living comfortably', age, expectation, social situation and so many other factors mean that this category is so difficult to define. Interesting that despite the relatively negative image of the Scots which is portrayed in the national press, the collective mindset is optimistic.