Advertorial: Third of British adults £50 away from financial breaking point has recently carried out ‘Affordability Tipping Point’ research - which basically looks at the point where household outgoings overtake household income.

It found that one in five adults have reached their ‘Affordability Tipping Point’ - and 36% think that they’re only £50 or less per month away from it.

Many are cutting back where they can, but 44% have increased their use of credit to help them make it through the month. 24% are using credit cards more, 17% are taking advantage of their authorised overdrafts and 13% have turned to their family and friends for handouts.

And regardless of income, 79% of UK households are now on a budget. Different people said that different things have had the biggest impact on their finances, including rising food costs (30%) and increasingly expensive utility bills (25%).

An expert from - who wrote this article - said: “Families everywhere are finding it difficult to get by month to month. If you’re in this situation, tightening your budget can help, so find some time to sit down and go through how much you spend per month - and what you spend your money on. Then look at how much money comes into your household each month, and assess whether you have anything left over. If you do, it might help to put this in a ‘rainy day’ savings account.

“If you have very little (or nothing) left over, see whether there are any areas of spending where you can cut back. Sacrificing life’s little luxuries for a while could help you to get your finances back on track. You could work out how much you can spend per week (after your bills and essential costs), take that amount out of a cash machine, and commit to spending no more than that. You could even make it a game, by seeing how far you could cut down on your spending.

“Some people, however, will already be past their ‘Affordability Tipping Point’, and seriously struggling with debts. In this case, it can’t hurt to seek expert advice. Talking to a debt professional could put you on the right track and help you regain control of your finances.”