As of 2024, debt in the UK continues to rise at a much higher rate than the average household income. Contrary to popular belief, high borrowing is not confined to those with low incomes. The media has highlighted numerous cases of wealthy and famous individuals who have fallen into the debt trap. From royalty to former millionaires, various high-profile individuals have been named for spending beyond their means. It is a well-known fact that for most people, as their wealth increases, so does their level of spending.