More than 300,000 people in Wales urgently need debt advice and a further half a million are financially precariously placed, according to the Money and Pensions Service (MaPS).

The research reveals approximately 36 per cent of Wales' population either require debt advice or are at risk.

It further highlights certain demographics that are even more susceptible, including those aged 18-34 who tend to be low-income earners earning under £30,000 annually or in temporary employment.

Lee Phillips, Wales manager at MaPS, said: "These figures show over a third of people in Wales are either urgently in need of debt advice or fighting to stay afloat.

"Many of them are struggling on alone without the help they so desperately need."

MaPS urges individuals who fall within these categories to utilise their free online debt advice locator tool, which allows them to access assistance from local and national agencies.

Mr Phillips stresses that seeking advice is paramount and without judgement, saying, "MoneyHelper will help you find free debt advice.

"You won’t be judged and you could join the thousands before you who’ve turned things around.

"Many people wish they’d acted faster, but no one ever says they got debt advice too soon."