Self-employed workers in healthcare sector likely to clock up nearly 40% more personal debt

Freelancers working in healthcare are likely to clock up nearly 40 per cent more personal debt than those in permanent roles, according to new research from a national free debt advice provider.

PayPlan, which has helped millions of people overcome their debts, has conducted an in-depth national study alongside OnePoll into the attitudes and anxieties of self-employed workers in a variety of industries.

The research indicates that freelancers and those who work for themselves in healthcare are more likely to experience serious personal money problems, than both employed and unemployed people.

As well as healthcare professionals, the research indicates freelancers in sport and leisure, marketing, and those in retail were also particularly affected.

Freelancers under 65-years-old owe on average 36.4 per cent more personal debt than those who are not self-employed.

The study also reveals that over half (50.4 per cent) seriously worry about their personal finances, either often or all the time – regardless of whether or not they are currently in debt.

PayPlan has launched a free online portal for those in self-employment, across any profession, offering advice and support for those who want to solve their debt problems but keep their businesses trading.

Jane Clack, money adviser at PayPlan, has been in debt before as a self-employed businesswoman, so knows just how hard it can be.

She explains:

More and more people are deciding to work for themselves, perhaps in the hopes of taking control back of their lives, their working hours, and their personal finances.

However, the results show that, financially, self-employed healthcare professionals are even more at risk, and thousands may already be struggling without admitting it to anyone. We want to encourage those people to open up about their money concerns, and that’s why we’ve created a free online advice portal especially for those who are self-employed – whatever their profession.