FT商学院

Credit crunch: how the cost of living crisis is pushing households to breaking point

Not-for-profit lenders are struggling to meet unprecedented demand from the poorest as they seek loans to cover basic costs

Russell Anderson is a man who has learned to live within his humble means. After a chronic illness forced him to retire as a coach driver three years ago, he managed to stretch his benefits to cover his bills, including rent and fuel.

Increasingly, he has found that balancing act harder to juggle. Anderson, who lives in rural Scotland, says the surging cost of fuel has made it too expensive to drive to his nearest Aldi, the low-cost supermarket he can afford, meaning he has to take a circuitous bus ride instead.