- Tuesday, 12 May 2009The combination of a costly lifestyle and low income could be causing debt problems for many nurses, it has emerged.
Financial services provider LV= reveals that 32 per cent of all nurses in the UK reach the end of the month with no cash to spare.
But some fail to stay debt free, turning to credit cards to help meet costs until their next pay cheque arrives in their account.
The debt problems come in spite of cutbacks being made by many nurses on their day-to-day outgoings.
LV= notes that 45 per cent are budgeting more carefully on groceries, while 50 per cent have cut down their expenditure on eating out and socialising in an effort to remain debt free.
Head of partnerships Michele Alcock says: "Nurses across the UK are facing more and more financial challenges every day, which is concerning."
LV= recently predicted a "boom" in the number of people being blacklisted for access to credit in light of an expected increase in identity fraud.
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