We asked people from across Scotland about their relationship with money, debt, credit, and planning for the future.
The study shows:
- More than half of Scots (51%) say they occasionally run out of money before payday, with 15% saying they do so ‘most of the time’ or ‘always.’
- 55% of Scots would be unable to pay a sudden bill of £100 without borrowing, using savings or cutting back on essentials. The equivalent figure for a £250 bill is 69%, and for £1,000 is 81%.
- Only 42% of Scots feel they understand their rights in relation to debt.
- Older people and those with full-time jobs are less likely to be in debt, but many Scots who are in work report that they often need to borrow to supplement their income.
- Those who are in work are just as likely to be refused credit as those not in work.