The Times newspaper has analysed the economic situation, explaining the current state and predictions for such matters as inflation, interest rates and house prices.
As many as 3.4 million credit card customers could take up to 31 years to pay off their balances thanks to rocketing spending and decreased minimum repayments, it has been claimed.
The Bank of England's monetary policy committee (MPC) has to walk a "tightrope" between inflation and giving borrowers leeway, Legal & General has said.