IT is a staggering figure.

Households in Hampshire and the Isle of Wight – traditionally seen as among the most affluent parts of the country – collectively owe £139 million, as we report today.

That is 40,000 families owing an average of £3,400 each.

Credit card payments, utility bill arrears and loans are all contributing to this debt mountain – and that’s before you take mortgage payments or rent into account.

Today children’s charities have warned that youngsters are the first to suffer because of it; stress, anxiety and even bullying have been cited.

But how do we break out of what has been described as a “toxic cycle of debt”?

Sadly there are no simple answers.

Help is out there for people struggling to make ends meet but it remains an issue of personal responsibility.

The fact is that there has never been a time when it was easier to spend money and less attractive to save.

Until that situation changes, the ticking timebomb of debt is not going to go away.