A fifth of people in their 40s have had to turn to loans or credit cards to "keep their heads above water", price comparison website moneysupermarket.com has said.
Rising rents and mortgage costs have forced seven per cent of people to take out a personal loan in the past year, while nine per cent have had to increase credit use over higher housing costs.
The research from the website found that 2.3 million households have had to spend far more on their credit cards.
It also warned of a £30 billion "mortgage migraine" this month as deals come to an end and people face higher monthly repayments.
Tim Moss, head of loans and debt, warned against using loans or gathering interest on a credit card to solve mortgage and rent worries.
He advised shopping around for heating, electricity, food and insurance and suggested renting rooms or house sharing to earn more money.
A Bank of England credit conditions survey found that lenders had cited housing market expectations and changes in their "appetite for risk" as reasons for the decline in credit availability.
Lenders also expect the credit crunch to "tighten" over the next three months.
source moneynews.co.uk
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