Miserable Monday is set to live up to its name as more people fear losing their job and a finance expert predicts a rise in the number of firms going bust over the next few months.

On the day the Government injects many more billions into the ailing banking system, and the Royal Bank of Scotland announces record losses, a survey has found that 28 per cent of Kent residents are worried about their job.

More than half - 56 per cent - say they feel worse off, and a whopping 68 per cent say they dread the weekly shop.

Today is officially the most depressing day of the year because any pre-Christmas spending binge is coming home with the arrival of credit card bills, and for those in work, there is still at least a week to payday.

According to The Money Shop Monitor, a quarterly barometer of the nation’s cash-related habits, the best efforts by Kent retailers to lure shoppers could not lift spirits, as only five per cent of customers indulged in retail therapy to get through January.

The survey found that one in four Kent people - 27 per cent - have decided to stay at home this year rather than book a holiday, with only six per cent prepared to make other sacrifices to enable them to cruise to sunnier climes.

Andrew Bryan of The Money Shop, the UK’s leading instant cash provider said: "For many the week before pay day is notoriously difficult for those with bank balances left barren after the festive season

"Oour research reveals consumer confidence is still at rock bottom."