Revealed: 8 Million Commuters Borrowed Money to Get to Work in the Last 12 Months

Millions of commuters have had to borrow money in order to get to work, with a shocking number of people having to use pay day loans.

With the cost of living crisis only getting worse, businesses need to be aware of the impact it is having on commuters as a study has uncovered the struggles millions are facing in simply finding the money to get to work.

The study, conducted by iCompario, has shown that commuters using all types of transport have had to borrow money to get to the workplace. More than 50% of commuters who drive to work had to borrow money in the last 12 months. Other commuters have also been affected, with one in four bus commuters funding their fares by borrowing money and a quarter of train commuters also borrowing money in the last year (30.40%).

Table Ranked by Reason (who had to borrow money):

Reason / % of people:

Car (Fuel) - 52.01%

Train (Ticket) - 30.40%

Bus (Fare) - 28.68%

Taxi (Fare) - 23.71%

The impact of this has been felt nationwide, with 44% (the equivalent of over eight million commuters) revealing they have borrowed money to commute to work in the last 12 months. Unsurprisingly, two-thirds of young commuters (62%) were more than three times as likely to borrow money than those aged 51-55 (19%).

Newcastle has the highest rates of commuters borrowing compared to anywhere else in the UK, with half of commuters looking for alternative ways to fund their commute (50%). London came in second with just under half of commuters (49%) needing to borrow cash in the last 12 months. Greater London had the highest rates of borrowing than any other regions across the UK 59.54%. In contrast, Plymouth is the city seen to have the least number of commuters needing to borrow money, with just under one in five having to borrow money to get to work (17%).

The ways in which commuters are borrowing money have been uncovered, with 44% having to lend from family and relatives. Furthermore, over a quarter of commuters went into their overdraft to fund their commute in the last 12 months (27.53%) and shockingly, one in seven commuters turned to pay day loans (15%) to pay for their fares over the last twelve months.

It could be argued that following this study, businesses should now investigate ways to address these issues around commuting costs, saving their employees from borrowing. One example might be to adopt fuel cards for colleagues, cutting the cost of fuel on people’s ventures into the workplace. Additionally, reminding people of the benefits of car sharing, a cost-effective way to get to work, is another method that could hopefully reduce the number of commuters having to borrow money just to get to work.

Table Ranked by City (who had to borrow money):

City / % of people:

Newcastle - 50.91%

London - 49.10%

Liverpool - 48.15%

Birmingham - 47.69%

Belfast - 47.67%

Manchester - 47.66%

Southampton - 47.50%

Edinburgh - 42.22%

Bristol - 40.48%

Sheffield - 39.02%

Leeds - 38.03%

Glasgow - 36.59%

Brighton - 35.71%

Norwich - 35.71%

Cardiff - 32.35%

Nottingham - 30.51%

Plymouth - 17.39%

Andrew Davies, iCompario Spokesperson, commented: “These figures show an alarming trend in the UK, where rising costs are creating in-work financial difficulties and commuters feel they must turn to other people or even payday loans just to get to work. Employers can look to help their employees by promoting car shares or cycle-to-work schemes in order to address this trend. These actions may seem small but can have positive consequences over the long-term for those who are impacted most by the current cost of living crisis.

“Fuel cards for employees are just one way that employers can look to provide support for those travelling to work by road. It’s crucial that employers continue to look at ways to best support their staff so that they can keep their business moving forward.”