6 in 10 Black people forced to borrow money in cost of living crisis by LeahMahon_
NEARLY 6 in 10 people from Black and ethnic minority backgrounds have borrowed money amid the cost of living crisis, according to a financial report.
A further 72% of people are currently struggling to pay off their loans, an increase from 50% in 2022. Robert Pasco, CEO and Co-founder Plend, said: “Plend’s latest Financial Inclusion Report illustrates that those from Black and racially minoritised backgrounds have been more negatively affected by the cost of living crisis than those from other ethnic groups in almost every area.
These extra costs put on households with low incomes who have to pay for essential products and services means they are finding it even harder to make ends meet. Overall, around 29% of Black and ethnic minority people said they felt locked out of accessing financial support amid the unfolding crisis.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Glasgow woman's 96 mile tribute after friend dies from wrongly diagnosed cancerGemma Trainer was just 27 years-old when she was mis-diagnosed with Melanoma, to later learn she was battling a very rare and aggressive form of cancer known as sarcoma.
Read more »
Severe Easter health service disruption amid four-day doctor strikeThe 96 hours of industrial action will include junior doctors across Lancashire and Cumbria.
Read more »
Orphan Black creator talks what to expect from 'very different' spinoffOrphan Black creator teases what to expect from 'very different' spinoff
Read more »
Simon Cowell looks slimmer than ever in all black as he poses with fanSIMON Cowell looked slimmer than ever in an all black ensemble as he posed with a fan. The media mogul cut a thin figure as he was spotted in Pasadena, California as he headed to filming on America…
Read more »