Britain's working class getting deeper into debt
25/04/08
A new study has recently found that an increasing number of people are taking out both secured and unsecured loans in the UK in order to attempt to try and get rid of their working class status.
This alarming study has found that this group of people are doing this in order to try and get used to a middle class lifestyle but in the process of doing so are getting deeper in debt.
The study which was carried out by moneysupermarket.com found that six million of the people who are claiming the middle class status are earning as little as £15,000 annually. In order to change their appearances, the study suggested that as many as a quarter of the UK’s population were using a variety a loans, credit cards being a very popular one. As a result of this building debt amongst this group, the debt has built up to around £13,000 per person.
There is a large gap between earnings between the working class and middle class, with the earlier earning around the region of £23,000 and the later earning £33,000 on average according to the research.
Despite the credit crunch it is alarming to see just how much people will get themselves into debt. A lot of this is to keep up a certain lifestyle and what sort of image they portray in front of others.
