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22% of Brits `struggling to make ends meet`

More than a fifth of Brits (22%) feel they have reached their `affordability tipping point` and wouldn`t be able to cope if their outgoings increased any further, according to research by moneysupermarket.com.

And 30% say their finances are so stretched that they couldn`t afford a £100 increase in their monthly living costs.

40% believe that the rising cost of petrol has had the biggest impact on their spending and budgeting in the last year - with the average price of a litre of unleaded petrol reaching 137p this week (according to petrolprices.com). Meanwhile, 23% say food prices are the biggest problem and 19% say it is rising utility bills.

An expert at the IVA Advisory Centre said: "It`s no secret that rising prices have had a big impact on many people over the last year, but this research really demonstrates the extent to which people have been affected.

"However, it`s important that anyone struggling to make ends meet doesn`t just accept it as though it`s inevitable. There is plenty of help available, and the right advice could make managing your finances much easier. And for people in debt, there are various debt solutions that could make their payments more affordable."