A fresh inquiry has brought to light the alarming consequences of the
rising cost of living on the daily lives of many Britons. According to a
recent survey by YouGov, nearly two million people in the UK go without
food for a whole day at least three times a month because they don’t
have enough money.
The study also revealed that a staggering 9.6 million Britons live in
households facing “serious financial difficulties.” These distressing
findings show the harsh reality faced by many as they struggle to make
ends meet in a tough economy.
Among those experiencing financial hardship, a significant 61 percent
said they couldn’t keep their homes warm and comfortable in the past six
months. Additionally, nearly two-thirds of households reported reducing
social interactions with friends and family (64 percent), and the same
number found themselves participating less in hobbies and activities
they enjoy (61 percent).
The financial strain caused by the high cost of living has had severe
consequences on healthcare access and affordability. About 46 percent of
people have had to delay dental treatments because of the cost.
Alarmingly, almost one in five (19 percent) of those facing serious
financial difficulties admitted to avoiding doctor’s appointments, while
18 percent couldn’t afford necessary medical equipment or medications.
A concerning 35 percent of all Britons revealed that they can’t afford a
balanced diet for at least one month, and this number rises to a
staggering 82 percent among those most affected by the economic pressure
on household budgets. One-third of Britons say financial worries cause
them to have poor sleep at night, and 35 percent say their financial
situation is negatively impacting their mental health.
Furthermore, 27 percent reported that money concerns have had a
detrimental effect on their physical health. People are also cutting
back on takeaways, holidays, and shopping at cheaper supermarkets.
Respondents said that saving money has become the “new normal,” with
only 26 percent stating that they haven’t tried to save money recently.
Overall, people’s financial well-being has worsened compared to when the
first survey took place at the beginning of the pandemic in April 2020.
There has been an 11 percentage point decrease in the number of
financially secure households (from 37 percent to 26 percent). The
survey of 6,540 adults was conducted between April 24 and May 3 and
commissioned by the charity abrdn Financial Fairness Trust for its
Financial Fairness Tracker series.
The data has been further analyzed by the experts at the Personal
Finance Research Centre at the University of Bristol. Mubin Haq, CEO of
abrdn Financial Fairness Trust, expressed his concern, saying, “The
cost-of-living crisis is seriously affecting the health-related
decisions millions of people are making. It’s shocking that people are
regularly delaying dental treatments, skipping medications, and going
hungry because they can’t afford these essential things. Short-term
savings can have long-lasting consequences on the nation’s health. This
comes at a high cost and could also impact the labor market if people
can’t work due to poor health.”
Professor Sharon Collard, a specialist in personal finance at the
University of Bristol, also commented on the worsening levels of food
insecurity caused by rising living costs. She stated that the number of
people who can’t afford to eat healthily or even have three meals a day
is worrying. While the government has taken steps to support those who
are most vulnerable, these figures show that more needs to be done to
help. Relying on food banks is not a sustainable long-term solution.
Editors comment:
Dear reader, when confronted with such dire circumstances that afflict
the hearts and homes of countless souls, it becomes our solemn duty to
ponder upon the possible avenues that may lead us to a more
compassionate and just world for all. Let us, then, embark upon a
journey of the imagination, and envision the ways in which this
distressing situation could be addressed with the utmost regard for the
welfare of every needy individual upon this vast and teeming planet.
First and foremost, it is imperative that the powers that be, the
leaders and lawmakers, acknowledge the gravity of the cost-of-living
crisis and the immense suffering it inflicts. They must set aside their
differences, their political games and posturing, and join hands in a
united front to enact policies that alleviate the burdens borne by the
vulnerable among us. A concerted effort, grounded in empathy and an
unwavering commitment to social justice, is the need of the hour.
One approach, noble and worthy of consideration, would be to implement
measures that ensure fair wages for every laborer toiling in the fields,
factories, and offices of our world. Let us banish the scourge of
exploitative working conditions, where meager pay suffocates dreams and
saps the vitality of the workforce. A dignified livelihood, a just
compensation for one’s toil, should be the birthright of every
individual, regardless of their station in life.
In tandem with this pursuit, dear reader, lies the necessity to
establish a comprehensive safety net that catches those who stumble in
the face of financial hardship. Let the institutions of society provide
robust support to those who find themselves ensnared by the merciless
grip of poverty. Adequate access to affordable housing, nutritious
sustenance, and essential healthcare should not be viewed as luxuries
reserved for the fortunate few, but rather as fundamental rights
afforded to all, irrespective of their station or circumstances.
To achieve this noble aim, it falls upon the privileged among us, those
who possess an abundance of wealth and resources, to bear a greater
burden in the pursuit of a fairer and more equitable world. Let them
contribute their fair share, for in the grand tapestry of humanity, it
is their duty to ensure that no thread goes unattended, no voice goes
unheard.
Education, dear reader, is another vital key that can unlock the doors
of opportunity and emancipation. Let us invest in the minds of our
youth, regardless of their background or birthright that they may grow
to become architects of their own destiny. Scholarships, vocational
training, and access to quality education should be made available to
all, nurturing talent and kindling the flames of ambition that burn
within each human heart.
Lastly, but by no means least, let us foster a spirit of empathy and
compassion among all people. Let us recognize that our fates are
intertwined, that the suffering of one diminishes the joy of all. In our
pursuit of wealth and progress, let us not lose sight of our shared
humanity. Charity, in all its forms, be it a warm meal offered to a
hungry stranger or a comforting hand extended to those in distress,
should be the guiding light that illuminates our path forward.
In contemplating these suggestions, let us not dismiss them as mere
flights of fancy or utopian dreams. Nay, they are the building blocks
upon which a more equitable and humane society can be constructed. It is
our collective responsibility, as denizens of this precious planet, to
work towards a world where the cost of living does not devour the hopes
and aspirations of the downtrodden, but rather uplifts and empowers
every individual, fostering a society where the worth of a human being
is measured not by the weight of their wallet, but by the strength of
their character and the breadth of their compassion.
14th June 2023
The Oracle’s Apprentice