Three-quarters of Brits rely on credit to make ends meet, Scottish Friendly finds

The friendly society found low wage growth and rising inflation, currently sitting at 2.9%, had led to younger people being particularly dependent on credit with one in five millennials saying they were more likely to use credit than they did a year ago, compared with 17% from generation X and 11% of baby boomers. Figures from the British Bankers' Association recently found personal debt growth in major UK retail banks had slowed in May to 5.1% from 6.4% in April. It also found the annual savings growth rate to have slowed to its lowest level in six years, at 2.6%. In March, the Finan...