Today Britain has been confirmed as a nation of borrowers, where being in debt is a ‘fact of life’ for a quarter of people, with almost a third completely oblivious to the amount they owe on their credit cards. Alarming new research indicates that at least 56% of the population are overdrawn at some point during the year, with a fifth in the red at least once a month.

One in ten people claim to have no cash left in their bank account by the end of the month, perhaps an explanation for the high level of borrowing that exists, with a quarter still relying on their parents to bail them out with bills.

A reluctance to seek financial advice has been exposed amongst a third of us who fail to get guidance from anywhere. But with one in four claiming they rely on their credit card, to some extent, this could be an issue; and what can be done to make us Brits get a grip on our finances?