`Coping classes` focus on debt

The `coping classes`, worried about how they`d cope with a lengthy period of unemployment, are focused on debt.

So says a report by Friends Life, a `leading provider of life insurance, investments and pensions`. It explains that the coping classes, earning between £25,000 and £50,000, are being hit particularly hard by spending cuts in the public sector.

Fully 84% of them are determined not to get any further into debt over the next six months, while 52% are determined to reduce the level of debt they`re carrying today.

Almost 75% are `putting plans in place` to make sure most of their debt is gone within ten years, as The Telegraph puts it.

David Hynam, a Friends Life executive director, said: "Five years ago the Coping Classes were comfortably off, but the recession and the effects of public spending cuts seemingly tilted against them has changed their status."

A spokesperson for debt management company Gregory Pennington commented: "Any major fall in income can make it so much harder for a household to keep up with its financial commitments, so a focus on reducing debts is a sensible way of responding to worries about job security."



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