A new report reveals that 4.3 million people in the UK have sought financial support from charities over the past three years, underscoring the deep impact of the ongoing cost-of-living crisis.
The most pressing concerns include affording essentials like food and energy (72%) and managing debt (48%). Despite this growing demand, only 5% of charities currently focus primarily on financial wellbeing, highlighting a critical gap in dedicated support services. The report commissioned by Lloyds Banking Group examines how charities support those who are financially vulnerable and how to strengthen that support. Read more here.