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6 Conclusion
6 Conclusion
This course has explored personal debt within the UK. In Section 2, we examined overall
levels of debt, before going on to explain how debt affects different households in different
ways. Specifically, low-income households and families with children are more likely to get
into difficulties, mostly linked to unsecured debt. We also noted how the number of people
with debt problems increased in the late 2000s as circumstances in the economy led to
many households having their available incomes reduced. Section 3 also explored the
different costs associated with debt and highlighted the role of APR in making cost
comparisons. The position of debt as a liability and the interrelationship between such
liabilities and expenditure was explained in Section 4. Section 5 investigated the issues
related to funding a purchase through debt, and again highlighted the role of an
individual’s social and economic circumstances in shaping available choices.
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