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LATEST NEWS & EVENTS 'Four in ten people struggling to make ends meet'  A warning over personal insolvency rates has been issued as it emerges that four in ten people struggle to make it to payday. According to insolvency trade body R3, 38 per cent of people in the UK are finding it hard to make their earnings last all month. For those struggling, the financial hardship begins on the 19th of the month - down from the 20th a few months ago. R3 president Steven Law said the findings are "extremely worrying", adding that it is clear that those facing financial difficulties are not planning how to spend their pay. "The main reasons of spending on non-essentials and credit card payments demonstrates people's extravagant spending straight after payday, causing strain at the end of the month," he added. Heating bills increasing in the winter and Christmas spending may also be contributing to the hardship, Mr Law noted. R3 recently warned that the main issue seen by corporate insolvency experts as a concern for businesses is the plan to end the Time to Pay tax scheme. Posted by Gaby Hamerton 
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