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Recent studies show that British residents spend more than 2 years of their lives, worrying about the condition of their personal finances.

An interesting new survey conducted by the co-op bank has found that the British public exhausts more than 14 billion collective hours through worry each year, over issues of credit commitment.

Accordingly, rash decisions to take out certain forms of credit such as personal loans, and high interest credit cards are the most common cause for concern, with approximately 1 in every 4 borrowers feeling as if they did not apply enough thinking time to affordability, before committing to finance.

A representative for the bank commented that an alarmingly high number of people within the UK are compromising their health, as extreme levels of worry prevent them from having a good nights rest and from also following the daily routines of their lives. It is of the up most importance for people within these types of situations to seek immediate help and assistance with their finances, and to realise that worrying alone will do little towards resolving their predicament.

A separate study has also found that the typical British household is indebted by more than £60,000.