More people are borrowing more and expecting to save less as the rising cost of living in the UK bites, official figures show.
According to a survey conducted in March, almost one in five (17%) said they borrow more than a year ago.
About 43% said they would not be able to save any money in the next 12 months.
At no point in the past two years has that number been higher, the Office for National Statistics (ONS) said.
Sharp increases in the price of basic necessities such as food and fuel have impacted household budgets in recent months. The main reason for the bottleneck was the rising cost of gas and electricity.
The ONS survey was conducted before a 54% increase in household electricity bills went into effect in April, but still takes into account the general trend of sharply rising prices as measured by inflation.
The survey also found that 23% of adults said paying their usual household bills was either very difficult or difficult in the previous month compared to the previous year.
That was a higher proportion than the 17% of adults who gave the same answer in November last year.
Although the steepest rise in energy bills has yet to happen, 43% of those paying energy bills said they are very or fairly difficult to afford.
The vast majority of people (87%) said their cost of living increased in the previous month. Figures showed those renting properties and people living in less affluent areas were hit harder.
“While rising household bills will affect most households across the country, they are more likely to disproportionately affect those in the most deprived areas,” the ONS said.
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