UK Money News
12th March 2008
Brits have become "financially overweight"
Britons' failure to pay sufficient attention to their finances has left 46 per cent of the adult population "financially overweight", according to a lender's study.
Employing an index akin to that used to calculate our Body Mass Index (BMI), Lloyds TSB calculates that 46 per cent of Britons are "financially overweight".
This is defined as when their debt is much greater than their level of savings.
Meanwhile, such is the financial plight of 12 per cent of those analysed that they are deemed to be "financially obese" - meaning they over-rely on debt to the extent that they tend to spend more than 25 per cent of their gross monthly income on unsecured repayment.
Commenting ion the findings Ian Larkin, managing director of consumer banking at Lloyds TSB, said: "Our physical health is something the nation is taking increasingly seriously.
"Most of us know our BMI, but our financial health seems to be less of a priority and often people have misapprehensions about the real state of their money.
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