One quarter of Brits consider suicide over money worries

Analysis from employee benefits provider GettaSub warns that just under one quarter of workers have considered ending it all over financial issues and money worries

by Patrick Sullivan, Political Editor on 8 August 2019 07:44

Debt-crisis

One quarter of UK workers have considered suicide in the first half of 2019 due to personal debts and financial worries, according to research from GettaSub, the short-term employee finance provider.

The research, which quizzed 2,000 workers across the country about their financial well-being revealed that 23 per cent have considered taking their own life due to financial fears at least once in the last six months.

Of this total, nine per cent said they have considered suicide more than once. Shockingly, the research also found that four in 10 people (41 per cent) admitted that they have lied about their money problems to their friends and family in the last six months, with two in 10 doing this more than twice.

Furthermore, almost a quarter of employees (24 per cent) have been chased by debt collectors for overdue payments, and one in 10 confirmed this has happened to them more than twice. Furthermore, the research also found that 17 per cent of employees have recently called a debt helpline and 16 per cent have consulted their GP due to financial stress.

Ann Marie Bell, director, GettaSub said: “It’s clear that hard-pressed workers are being pushed to breaking point by the rising cost of living. These findings should serve as an urgent wake-up call for employers to provide much stronger financial and personal support to staff.”

Yvonne Favourgue, Labour MP for Makerfield said: “Personal debt is a serious problem in this country, particularly for those on low incomes. It doesn’t take much for people to fall into a downward spiral of debt. It might be an income shock or an unexpected expense, perhaps just a broken washing machine or higher than normal utility bill. Any decent employer should have a vested interest in ensuring that their employees are not weighed down by debt.”

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