Debt nation: Why financial education must become a national priority

Britain is drowning in debt. Total personal debt now stands at £1.89trn, up £43bn in just a year. The average adult owes £34,811, which accounts for nearly 93% of the average annual earnings. Households paid £2,613 in interest alone last year, and insolvencies are rising by more than 318 cases per day. These aren't abstract numbers; they signal a structural weakness in our economy and a looming social crisis. This trend is hardly surprising. Debt, which actually is borrowing from your future self, was once reserved for big-ticket items like homes, cars, or education. Today, the ris...