Over half of British households have been forced to make financial adjustments to cover essential costs in recent weeks, marking the highest level recorded this year, according to consumer champion Which?.
A survey found 52 per cent of respondents altered spending in the month to mid-October, impacting utility bills, housing, and groceries.
This equates to an estimated 14.8 million households nationwide, a peak not seen since December 2024.
Such adjustments include cutting back on necessities, dipping into savings, selling possessions, or borrowing, with low-income households particularly prone to reducing essential spending.
Positively, the proportion of households missing at least one essential payment – such as rent, mortgage, or utility bills – fell to 5.5 per cent from 7.7 per cent in September, affecting approximately 1.6 million homes.
Despite fewer missed payments, Which? warned that the overall rise in financial adjustments highlights a growing vulnerability to the cost-of-living crisis, especially ahead of colder weather and the expensive festive period.
A fifth (20 per cent) of people surveyed believe their household situation will get better over the next 12 months and about a third (34 per cent) think it will deteriorate.
When people were asked why they think their household situation will worsen over the next 12 months, the majority cited issues related to the cost of living, such as food prices, bills or inflation, the consumer group said.
Taxes and policies were also widely mentioned in the consumer insight tracker, with some people highlighting concerns about possible tax rises, Which? added.
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One woman from Scotland told researchers: “The cost of living is too high; it’s a struggle to make ends meet. Food shopping is stressful as everything costs so much and paying bills, the cost of everything is rising. I think this will keep continuing to get worse.”
Which? said that people who are missing or struggling to afford essentials, such as energy, credit card or mortgage payments, should speak to their provider immediately for help.
Rocio Concha, Which? director of policy and advocacy, said: “Our research shows that millions of households are struggling to cover the costs of everyday essentials such as utility bills, mortgage and rent payments and the weekly shop.
“With the festive season fast-approaching and the weather starting to get colder, the added pressures of Christmas shopping and keeping the house warm and cosy will only add to households’ financial stresses.
“We’d encourage anyone who’s struggling to seek free debt advice and to reach out to their bill provider for help.”
The survey among more than 2,100 people across the UK was carried out between 17 and 19 October.