The impact of unexpected costs on people across Wales has been revealed in a new survey.

The cost-of-living crisis has many people living on the edge of financial security, with 46 per cent of people in the UK having less than £1,000 in savings and 25 per cent having £200 or less.

Recent research by Moneyboat shows that Brits have to pay £479.09 per year, on average, on unexpected car repairs.

Over half of people are either very worried or fairly worried about the impact an unexpected car repair cost would have on their savings.

Only 29 per cent are confident that they currently have enough money saved for an unexpected car repair.

Interestingly, London residents pay the most each year, with car repairs in the capital costing £541.30 a year, on average.

The survey also shows the impact of unexpected costs on Wales residents.

Concerning confidence on having enough money saved to pay for an unexpected cost, 26 per cent were very confident, 49 per cent were fairly confident, and 22 per cent were either not very confident or not confident at all.

In terms of response to unexpected costs, 37 per cent of people said they would turn to their partner or spouse for support, while 35 per cent would ask their parents for help.

The research has also highlighted how much Wales residents have had to pay on average in the past year for selected unexpected costs: £114.20 for school uniforms, £154.10 for pet costs, £110.10 in fines, £441.80 for car repairs, £524.60 for home repairs, and £295.40 for dental treatment.

These findings help to shed light on the current financial stress faced by many individuals and families in Wales, and the UK at large.