Does your neighbour have a brand new car so you have to go running out to buy one? Keeping up with the joneses can lead to spiralling debt. 37% of individuals in the UK who are in debt will simply not admit they have a problem and many will not change their lifestyle due to wanting to keep up with their neighbours. Debt help is available if they want it in the form of consolidation loans, iva help or bankruptcy.

I think rather than being one of the 66% who worry what their neighbours think, I would want to change my ways and clear my debt. If individuals continue on as they are, while struggling from month to month to maintain their lifestyle, and keep up the pretence of everything being ok, then of course debts will continue to spiral out of control and there will come a time when the facade is broken and the truth will come out.

There is no shame in admitting you are having problems and the sooner you seek help the easier it may be to get a plan drawn up that, providing you stick with it, will get you out of the red.