Fresh survey results underline the depth of Britain’s financial crisis, showing 9% of UK adults have relied on food banks while 63% have been forced to give up life’s small pleasures.
Commissioned by hotukdeals, the survey of 2,000 people paints a stark picture of households under pressure. More than half (59%) said they have felt worried about money in the last six months, with 30% losing sleep at least once each week. Nearly one quarter (23%) reported financial stress has sparked family or relationship arguments.
Treats that were once considered part of everyday life are now seen as out of reach, with restaurants, takeaways, and leisure activities among the first to go.
The study found that 32% of respondents have stopped eating out, and 28% have cut back on takeaways.
Entertainment has also taken a hit, with 26% saying they no longer visit cinemas, theatres, or concerts.
Holidays are proving equally unaffordable, with 26% reporting they have cancelled trips or chosen not to travel.
The research concludes that almost one in eleven adults in Britain have turned to food banks or community pantries over the past year due to mounting cost-of-living pressures.
Key Findings:
- Food bank Britain: 9% (almost 1 in 11) of UK adults have used food banks in the past year, specifically due to cost-of-living pressures
- Nation gripped by money worries: 59% have worried about finances in the past 6 months, with 21% worrying “a great deal”
- Eating out is now a luxury: 32% of Britons have given up eating out at restaurants, and a further 28% have given up takeaways
- Entertainment sacrificed: 26% have stopped going to the cinema, concerts or theatre; 26% have given up or cancelled holidays
- Mental health toll: 16% of those suffering from financial stress avoid opening bills or bank statements, and 7% have needed medication or therapy
Commenting on the findings, Ben Smye, consumer expert at hotukdeals, said: “These findings reveal the hidden mental health crisis behind the cost-of-living headlines. When people are losing sleep weekly and experiencing panic attacks over money, it’s clear the impact goes far beyond bank balances. The financial crisis has become a public health concern.”
The psychological toll is equally alarming. Beyond the headline figure of 59% experiencing financial worry, the research reveals a nation under severe mental strain. Nearly one in four respondents (23%) with money worries admitted that they have caused arguments with family members or partners, while 16% have become so overwhelmed they avoid opening bills or checking bank statements entirely.
When asked what they would do with an unexpected £500, almost one in five (19%) said they would immediately put it towards essential bills or debt, a telling indicator of how many households are operating on a financial knife-edge.
The survey also uncovered the creative and sometimes desperate lengths people are going to make ends meet. When asked about unusual money-saving methods, responses ranged from the mundane to the heartbreaking, with many turning to online surveys and reducing holiday plans. Multiple respondents specifically mentioned “doing lots of free things” and limiting holiday frequency, highlighting how the crisis has fundamentally altered leisure and family time.
Ben added: “While we love hearing about and sharing creative ways to save money at hotukdeals, it’s worrying when people have to go to extreme lengths to save. One respondent shockingly said they didn’t eat for 3 days to save money, and while that is certainly not the norm, it’s extremely sad to hear.”
On the positive side, when asked about whether they would need to go into debt to maintain their current lifestyle, 81% of respondents said they wouldn’t. Of those, 37% said they would have to cut back on expenditure to avoid going into debt, but 43% said they would not need to change anything. However, 6% said they already have gone into debt and a further 7% said they probably would.