Quids in! magazine has published its latest reader survey findings as a report, and the results are deeply worrying. Tenants of social housing are caught in a spiral of poverty which is affecting their health and wellbeing. Access to mainstream financial products has fallen alarmingly in the last two years. Large numbers of people are still digitally excluded with no access to the internet at home or at work, and almost half of working age readers report having had their benefits cut in the last two years.
Key findings include:
Quids In! readers are getting poorer and their health and wellbeing are suffering as a result
- 52% said they were struggling to pay bills
- 52% said money worries had caused them to feel frightened, anxious or depressed (up from 45% in 2012)
- 51% of readers had turned off their heating despite being cold (up from 44% in 2012)
- 37% reported skipping meals due to financial constraints (up from 33% in 2012)
- 30% of readers reported that they had become physically ill through money worries (up from 21% in 2012)
Mainstream financial products are becoming increasingly difficult for readers to access. Payday loans, doorstep lenders and credit unions are filling the gap
- Just 48% of readers use bank accounts, a huge drop when compared to the 85% reported in 2012 – and access to home contents insurance, credit cards and post office accounts all also showed significant falls over time
- 6% of readers had taken out a loan from someone calling at their home
- 6% took out a payday loan – tripling the use compared with Quids in!’s previous research in 2012
- 6% used a credit union (up from 4% in 2012)
Digital inclusion remains a top priority
- 26% of Quids in! readers reported having no internet access on any kind of device
Benefit cuts are biting deeply
- 11% of our readers are in work but claiming benefits
- 43% of working age readers said they had had their benefits cut in the last 2 years
- A quarter of our readers not in work reported having faced or experienced sanctions from Job Centre Plus
Press: Click here to download the executive summary, and a copy of the Quids in! logo and a sample cover
