‘It’s time to talk’ as personal debt levels across Ayrshire revealed

dailyrecord.co.uk:

Ayrshire residents are being encouraged to talk about money worries as new figures have revealed debt levels across the region.Analysis from personal insolvency provider Carrington Dean has flagged personal debt levels across the country, with debt experts encouraging Scots to talk about finance troubles this Stress Awareness Month.Carrington Dean’s data shows that, in 2022, the average level of unsecured debt in East Ayrshire stood at £16,137.58 and North Ayrshire stood at £13,977.75, compared to the national average for Scotland of £16,133.Average debts in South Ayrshire stood some £600 above the national average at £16,811.02- seeing the council area rank number eight on the ‘top 10’ highest debt levels in the country.The Shetland Islands were found to have the highest levels of personal debts, with average debts standing at £24,180.The cost of living crisis is continuing to have a significant impact on personal finances, alongside increased energy costs.And from this month, people in Scotland are facing varied council tax rises of at least four per cent.Graeme MacLeod, director of compliance at Carrington Dean, said: “While doctors are calling on the Scottish Government to reverse the freeze on mental health budgets, it’s important we recognise there’s another solution to helping ease the impact of the crisis in the meantime that doesn’t cost a penny- it’s time to talk.“In my experience Scots are fiscally conservative.

Many of us inherit a stiff upper lip when it comes to discussing our finances.“We’re often taught from a young age that no one should know how much you have, or don’t, and that talking about money is uncouth.Graeme said this attitude “can only exacerbate money troubles” and that “there’s no place for