According to research commissioned by Gocompare.com, 53 percent of Brits now prefer to use cards to pay for the majority of their purchases as opposed to cash.
According to Family Action, their new ‘Birthdays on the Breadline’ report has revealed that 44 percent of the British parents surveyed are unable to afford a birthday party for their child. Amongst families on lower incomes, this is reportedly the case for 51 percent of respondents.
According to research commissioned by the Debt Advisory Centre, equivalent to four million adults in the UK are in debt to at least one of their utility providers.
According to MoneySupermarket, a poll of 3,760 of their website users has revealed that just 18 percent of respondents feel that they will be better off as a result of yesterday’s Budget. These findings come despite Chancellor George Osborne’s reported attempts to ‘give something back to consumers’ by increasing personal tax allowances to £10,000, freezing intended fuel duty rises, and helping with childcare.
According to a survey commissioned by Gocompare.com, 45 percent of Brits do not have a household budget in place at the moment, with many relying on overdrafts and credit cards in order to get by until the end of the month.
According to research commissioned by thinkmoney, millions of Brits have resolved to ‘manage their finances more effectively’ in 2013.
According to the Post Office Consumer Credit Report, in January 35 percent of credit card holders will use these cards to pay for ‘daily essentials’.
According to the Money Advice Trust, the true extent of festive spending often becomes apparent in January when the Christmas credit card bill arrives.
According to LV=, their research has revealed that 89 percent of respondents feel nostalgic for Christmases of old. The protection specialist found that on average, it is felt that Christmas is ‘most magical’ at the age of nine, when respondents’ anticipation of the day was at its greatest.
According to new research commissioned by Scottish Widows, one in five Britons are having to borrow money from family members to assist with buying Christmas gifts, whilst 44 percent will reportedly receive some form of financial help from their relatives in order to ‘see them through’ the festive season.
According to Legal & General, their new research has shown that there is a significant gap between economic reality and peoples’ ideas of ‘financial comfort’.
According to Citizens Advice Bureaux (CAB), there has been a ‘worrying increase in the number of serious debt cases relating to payday loans’. In fact, when it comes to the amount of clients who are receiving casework assistance with several debts – including a payday loan debt from the last four years – the Citizens Advice service has reportedly experienced a ten-fold increase.
Following the Bank of England’s announcement that the Consumer Price Index has increased, MoneySupermarket.com is advising consumers to check their savings rates even more to ensure that their returns are being maximised.
According to the Bank of England, there was a £1.7 billion increase in total lending to individuals in September – not including student loans. The average increase during the previous six months was reportedly £0.6 billion, whilst the twelve month growth rate stood at 0.7 percent.
According to a survey commissioned by Gocompare.com, 44 percent of respondents admitted that it will be necessary for them to 'actively manage the amount of heating they use'. Nevertheless, the price comparison site's findings have also shown that four fifths of respondents have not switched energy suppliers in the last twelve months.
According to new research conducted on behalf of MoneySupermarket.com, 30 percent of respondents with children under the age of 18 have either borrowed or taken money from their child’s savings account or piggy bank, with two thirds having done so in the last year.
According to research commissioned by Saga Savings, 32 percent of respondents over the age of 50 are financially supporting a member of their family, with 14 percent supporting more than one.
According to research commissioned by MoneySupermarket.com, 18 to 34 year olds have had to significantly adjust their finances in the last year – more so than any other age group. What’s more, they have reportedly had to rely on expensive forms of credit, which has put them at risk of extra fees and interest charges.
According to new research commissioned by Santander, in a typical month, 28 percent of Brits are paying their household bills with money that they have borrowed via overdrafts, credit cards and loans.
According to research conducted on behalf of Bright Grey, 28 was the average age at which their respondents (aged 35 and above) realised that they needed to commence long-term financial planning. Such long-term financial provisions include saving for a property deposit and taking out a pension plan.
According to MoneySupermarket.com, this summer’s UK events – such as the Olympic Games – have resulted in many consumers spending more money than they had intended to.
According to new research conducted by uSwitch.com, the average household income stands at £2,504, which is £1,435 a month short of the £3,939 required in order to feel financially secure. The price comparison and switching service has also revealed that for 61 percent of respondents, the difference between their actual income and their dream income is so extensive that they do not feel secure at all.
Post Office is advising UK holidaymakers to avoid credit card charges whilst overseas this summer. This advice comes following research by Post Office Credit Card, which has revealed that unnecessary credit card fees could amount to £135 million.
According to research conducted on behalf of Bright Grey, people across the country are wasting more than £1,431 million per month on ‘unnecessary and frivolous spending’. The protection specialists have suggested that this represents the fact that irrespective of the current economic climate, the nation isn’t necessarily being financially careful.
According to M&S Money, their new research has revealed that the average family incurred £1,800 worth of unexpected costs in the last twelve months. It has been highlighted that these costs, relating to property and children for example, could put people in the red if they don’t have any savings.
According to Bright Grey, their Financial Safety Net research has revealed that despite the double-dip recession, 50 percent of the UK adults surveyed would give £10 to their family each month if it was affordable. Furthermore, it was found that 24 percent would give £10 to charity if they could afford to do so.
According to M&S Money, a vacation in London is 25 percent more expensive than the average overseas beach holiday. However, 54 percent of Brits are reportedly opting to stay in the UK this summer, with 26 percent believing it to be the cheaper option.
According to Aviva, 33 percent of UK families and 65 percent of single parent families are unable to save any more money because they have already ‘cut spending to the bone’. When it comes to the 67 percent of families who feel that they could afford to set some extra money aside, it was found that the typical ‘affordable amount’ per month is £53 or £636 on an annual basis.
According to a Which? survey, more than 60 percent of respondents who have taken out payday loans have done so in order to pay household bills or to purchase essentials such as food and nappies.
According to Money Advice Trust, since 2007 there has been a 150 percent increase in the number of calls to National Debtline regarding telephone debts.
According to the cashback site, Quidco, their research has revealed that some ‘savvy shoppers’ have changed their buying habits when it comes to items that are becoming more expensive. Quidco is urging more consumers to do the same in light of the fact that many people’s finances are reportedly still tight.
According to Bright Grey, their latest financial safety net report has revealed that Brits only consider themselves to be in ‘serious financial difficultly’ when their debts have reached the sum of £14,416.
According to the cashback and voucher site, Quidco, the number of people signing up for gym membership is significantly higher immediately after the Easter period. This is believed to demonstrate the guilt that is felt by many of those who have eaten several chocolate eggs.
According to Santander, their analysis of more than 2.7 million credit card transactions has uncovered a ‘surprisingly stereotypical’ difference in male and female spending behaviours. It was found that the average male credit card holder spends 15 percent more than the average female credit card holder.
According to MoneySupermarket’s ‘Real Budget Report’, three quarters of Brits claim to have limited their household expenditure in the last year and a third have had to reduce the amount spent on both luxuries and necessities.
According to research commissioned by MoneySupermarket.com, the equivalent of 4.5 million Brits are ‘permanently overdrawn’ and more than 17 million have found themselves in the red in the last year.
According to research commissioned by Sainsbury's Finance, 42.3 percent of credit cards now offer a reward incentive of some sort. In contrast, this figure reportedly stood at 27.4 percent two years ago. Findings have shown that cashback is offered by 22 percent; a points or voucher system is offered by 68 percent; and Air Miles are offered by 10 percent.
According to the Department for Culture, Media and Sport, the 'Holidays at Home are Great' campaign that has been launched today is the biggest domestic tourism campaign that there has ever been. It has been reported that the aim of the campaign is to boost tourism across the UK by offering 20.12 percent discounts on restaurants, attractions, accommodation and transport throughout the country.
According to Standard Life, an extra 5.3 million UK adults have begun adopting ‘money saving habits’ in the last three years. Examples include using the internet to seek out the best deals, using online voucher codes, and reviewing utility providers. It has been revealed that 91 percent of us have been encouraged to engage in ‘financially efficient behaviours’ in response to the challenging economic conditions.
According to research conducted by MoneySupermarket, equivalent to 47 percent of Brits have either stopped saving or have been saving less in the last twelve months.
When it comes to bills and debt repayments, Legal and General’s latest MoneyMood Survey has revealed that approximately 250,000 UK households are now coping better than they were at the end of 2011. However, findings have also shown that households that are continuing to struggle with their finances are, on average, £100 short each month.
According to MoneySupermarket.com, their research has uncovered that 17 percent of Brits have missed at least one bill payment in the last year, with credit card repayments being most commonly missed. It has been highlighted that by missing payments, consumers could be putting their credit profiles at risk.
According to an annual ‘Cost of a Child’ report from LV=, it now costs £218,024 to raise a child from birth until they reach the age of 21. This is reportedly equivalent to £10,382 per annum or £865 per month.
According to research commissioned by MoneySupermarket.com, UK consumers’ greatest financial concerns for the year include the high cost of utility bills, petrol and food. In fact, it has been revealed that anxiety regarding the impact of day-to-day bills is double that of other concerns, such as unemployment.
According to Santander Credit Cards, there has been a four percent (on average) decline in credit card expenditure over the past year. New analysis of customer spend data has revealed that despite a 1 percent increase in the overall number of transactions made by each regular card user, the value of these transactions has fallen.
According to research commissioned by the Money Advice Trust, 2011 saw an increase in the number of people being helped by free debt advice agencies in the UK. In fact, this figure reportedly stood at 1.54 million last year, compared to 1.4 million in 2010.
According to a survey conducted by first direct regarding financial regrets, UK adults were unhappier with their finances last year than they were in 2010, at 48 percent and 36 percent respectively. ‘Not paying off more debts’ reportedly moved to second place in the rankings, with ‘not saving enough’ ranking at number one.
According to a survey conducted by Post Office Home Insurance, 74 percent of respondents – equivalent to 36 million Brits – are planning to stay in with their family and friends on New Year’s Eve.
According to new research from Barclaycard, when it comes to buying Christmas gifts, 15 percent of Brits will feel ‘most panicked’ on December 20th as they search for last minute presents for their friends and family.
According to Barclays, their figures indicate that £46.9 billion will be spent this month. This equates to £17,540 worth of sales every second, which marks a four percent increase from December of last year.
According to American Express Platinum Cashback Credit Card, many people manage their finances in order to purchase food and drink for Christmas Day, and to buy presents for their nearest and dearest. However, the company’s research has uncovered that unexpected, expensive ‘hidden extras’ may come as a surprise during the course of the next couple of months.
According to Sainsbury’s Finance, interviews with a random sample of 2004 adults have revealed that the equivalent of 1.9 million people are intending to take out new credit cards in the next year due to the expiration of the interest free period on their balance transfers. An additional 867,000 people are also reportedly planning on taking out new credit cards because the interest free period on their purchases has expired.
According to Moneysupermarket.com, 60 percent of consumers are already concerned about how they will fund Christmas this year. Despite the festive season being a few months away yet, UK households are reportedly ‘struggling against the rising cost of living and the resultant squeeze on their wallets’.
According to research from Moneysupermarket.com, one in four people are paying off non-mortgage debt with more than 40 percent of their wages each month. The comparison site has highlighted that a significant proportion Brits are therefore regularly ‘eating into their available income’, which consequently leaves them with less money to fund rising bills and increasing living costs.
According to R3, 47 percent of individuals are ‘concerned about their debts’. Compared to this time last year, there has reportedly been a seven percent increase in the level of concern regarding debts.
According to Norwich and Peterborough Building Society (N&P), an online survey has revealed a ‘massive under-estimation of the cost of using debit cards abroad’. In fact, it was found that 31 percent of the holidaymakers questioned admitted to overspending during their last foreign holiday.
In light of the announcement regarding further energy price increases, Moneyextra.com has highlighted that it will be important for consumers to spend their money more wisely in all areas. It has been pointed out that the price hikes ‘will no doubt put a tighter squeeze on household budgets’. Therefore, consumers are being advised to stay out of debt by acting now to reduce their bills.
According to Clydesdale and Yorkshire Banks, ‘parents are raiding their children’s piggy banks when they need a little extra cash’. In fact, their research revealed that 57 percent of the parents surveyed ‘don’t think twice’ before borrowing money for their children.
According to R3, the number of people who are experiencing ‘financial distress’ has reached the highest level recorded by the trade body’s Personal Debt Snapshot.
According to Consumer Credit Counselling Service (CCCS), the UK’s leading debt charity, the average person who seeks help from them has to work until 4pm on Wednesday each week in order to earn enough money to repay their unsecured debts alone. These individuals then have the rest of the working week to earn the money that they need to meet their basic living expenses, such as their mortgage.
According to the latest Aviva Family Finances Report, families are struggling to save in the face of inflation and unsecured debt. The report, which was undertaken to gain an understanding of the financial needs of customers who live as part of a family, also revealed that the next six months are causing ‘major financial concerns’ for families.
According to moneysupermarket.com, demand for payday loans through their website has increased by 58 percent compared to the same period in April. A combination of factors has reportedly led to the increase – the rising cost of living and the recent run of costly bank holidays.
According to Scottish Widows, ‘Brits are burying their heads in the sand when it comes to their finances’. In fact, the second annual Scottish Widows Priorities of Life Index has revealed that 17 million adults are neglecting their finances, despite their best intentions. For 21 percent, this financial neglect is reportedly due to having ‘too much debt to feel financially secure’. Furthermore, 32 percent said that they are not paid enough and 25 percent said that they ‘simply try not to think about money in their day to day lives’.
According to R3, it takes an average period of 33 months for newlyweds to pay off their wedding bills. The insolvency body’s new research also uncovered that young couples are most likely to spend the greatest sum of money on their big day. In fact, it was found that 20 percent of respondents between 18 and 24 years of age spent in excess of £10,000 on their wedding. In contrast, just 7 percent of those between 45 and 54 years of age reportedly spent over £10,000, and no newly wedded respondents over the age of 65 spent in excess of £2,500 on their big day.
With the Royal Wedding fast approaching, Family Investments has pointed out that parents who are currently dreaming of their own child’s wedding day may be considering how they would meet the expense of the big day when the time comes.
As the Royal Wedding fast approaches, Baigrie Davies has offered high earning, young newlywed couples some advice – in the form of a ten point financial plan – to help set them up for a ‘better future’.
With the Royal Wedding just around the corner, many engaged couples will currently be planning their own big day, which could potentially cost them tens of thousands of pounds. Therefore, moneysupermarket.com has been looking at how couples can ‘generate some extra bang for their buck by paying for their special day with the right credit card’.
According to moneysupermarket.com, high inflation has put a strain on consumers’ finances and has caused nearly one in ten Brits to stop saving this year.
According to Consumer Credit Counselling Service (CCCS), thousands of people have been seeking debt advice at night.
According to uSwitch.com, their new research has revealed that 41 percent of respondents are now ‘concerned about their own financial position’ following this week’s budget, with 36 percent now feeling worse off.
According to Coventry Building Society, there is a ‘stark contrast’ between parents’ expectations vs. reality when it comes to providing their children with financial support. The building society is therefore highlighting the importance of taking ‘simple steps’, such as setting money aside on a monthly basis, to prepare for significant events in their children’s lives.
According to unbiased.co.uk, 2010 was a ‘record year for consumers repaying their debts, but savings levels suffered as a result of it’.
According to research commissioned by moneysupermarket.com, equivalent to 23 percent of Brits with savings are using this money to fund ‘everyday household bills and spending’. This comes at a time when the cost of living is rising along with levels of unemployment.
According to research commissioned by Gocompare.com, 22 percent of the 3,000 UK adult consumers surveyed will carry a credit card debt throughout 2011. In fact, it was found that 7 percent of respondents will still be paying for last Christmas beyond June of this year. Figures from the British Bankers Association reportedly show that the UK’s total credit card balance stands at £61 billion.
According to LV=’s annual Cost of a Child Report, the cost of bringing up a child until they reach 21 years of age has now exceeded £210,000, which is equivalent to £836 per month. This reportedly marks a 50 percent increase on the cost recorded in 2003.
According to moneysupermarket.com, credit card users who let debt sit on their existing credit card are wasting £2.3 billion per annum in interest payments.
According to a quarterly survey conducted by R3, 43 percent of respondents are expecting their financial situation to worsen during the course of the next six months. This reportedly marks a 13 percent increase on the last quarter.
According to new research from unbiased.co.uk, Brits will spend the first 45 days of 2011 working to pay off the interest that has built up on their debts before they can commence repaying the actual debt itself.
According to Consumer Credit Counselling Service (CCCS), the charity has experienced a ‘sharp rise’ in the number of people receiving online counselling for their debt problems.
According to the fourth annual Post Office Consumer Credit Report, more than 11.5 million people turned to their credit cards to fund day-to-day living costs in January. In fact, it has been revealed that 43 percent of credit card users paid for their groceries with their credit cards.
According to Moneyfacts.co.uk, the average credit card rate has hit a thirteen year high.
According to new research by The Co-operative Insurance and housing and homelessness charity, Shelter, 28 percent of ‘struggling Brits’ are finding that their monthly outgoings are greater than their income.
According to Scottish Provident’s Financial Safety Net report, Britons only view themselves as being in ‘serious financial difficulty’ when their level of debt exceeds £15,837. The ‘debt threshold’ is reportedly slightly lower, at £14,424, amongst those over the age of 55. However, it is reportedly greater, at £16,646, amongst 18 to 34 year olds.
According to new research commissioned by Gocompare.com, when it comes to the twenty most common financial products, 25.9 percent of respondents have never switched any of them. This is reportedly equivalent to 12 million UK consumers never having switched products such as car insurance, energy provider or credit card.
According to new research commissioned by Santander Credit Cards, the equivalent of more than 2.8 million credit card holders will be shifting £2.8 billion worth of debt onto new credit cards this year.
According to first direct, ‘a large proportion of the population regret not taking a longer term view of their finances’. This comes following a survey of 1,000 UK adults, which uncovered that 53 percent feel that their biggest regret in 2010 was that they didn’t pay off debts more quickly. Furthermore, 37 percent reportedly stated that failing to set money aside for retirement earlier is their ‘biggest financial woe’. In addition, 18 percent of respondents were found to regret spending too much during the Christmas countdown.
According to a survey conducted by ICM on behalf of Lloyds TSB, 57 percent of British banking customers are ‘more confident about how they manage their finances than ever before’.
According to moneysupermarket.com, loyalty to your main bank may be more costly than it seems – despite ‘existing customer only’ deals, which are reportedly ‘not always the best available’. Consequently, the comparison site is urging consumers to shop around and check their rates on a regular basis, to ensure that their money is working as hard as possible for them.
According to the Office for National Statistics, UK tourists parted with £66.4 billion on domestic trips and £50.1 billion on trips abroad in 2006. With regard to the latter, £34.4 billion was spent overseas while £15.7 billion was reportedly spent in Britain on air fares for UK airlines and the services of travel agencies, for example.
According to new research commissioned by Skipton Building Society, three key factors appear to be motivating Brits to save money – ‘homes, heirs and happiness’.
Despite the challenging economic environment, four million British women are ‘in the grips of shopaholicism’ according to new research conducted by uSwitch.com.
According to research conducted by unbiased.co.uk, Brits are reverting to repaying their debts; a behaviour that hasn’t been witnessed since the start of the financial downturn. The professional advice website has pointed out that this comes as economic reports warn of a double dip recession. Brits have reportedly ‘let savings nose-dive’ and have returned to repaying more debt than they are borrowing, which was last the case in the fourth quarter of 2008.
According to a new report by Consumer Focus, the number of people taking out ‘expensive payday loans’ has increased fourfold over the last four years.
According to Aviva, the ‘Babyboomer generation could disrupt the typical view of retirement’. New research has revealed that 43 percent of those who have retired view this as the beginning of a ‘new, exciting stage of life’. It was found that 23 percent would like to spend this time travelling around the world, while 49 percent would like to spend a greater amount of time on their hobbies (with 60 percent hoping to make money from these hobbies). In addition, 62 percent of retirees reportedly intend to ‘get into shape’ in order to enjoy a more lengthy and healthier retirement.
According to new research from uSwitch.com, 67 percent of consumers have been left feeling ‘worse off’ as a result of the Budget. However, it was revealed that while 51 percent now have less confidence when it comes to their personal finances, 42 percent have a greater level of confidence in relation to the country’s finances.
At a time when many people are looking to make savings by holidaying in the UK, new research from Tesco Travel Money has revealed that it ‘would be wise to look further afield’ for that bargain break. The cheapest deals can reportedly be found in Eastern European countries such as Bulgaria, Poland and Hungary.
According to the Bank of England, there was a £1.5 billion increase in total net lending to individuals in May. The twelve month growth rate reportedly increased from 0.8 percent in May to 0.9 percent.
According to research commissioned by R3, 44 percent of individuals who ‘freely admit to struggling with their debt’ do not believe that their problem is significant enough to require assistance; therefore they have not set about seeking advice.
According to research conducted by Defaqto, the average interest rate of an unsecured personal loan has risen from 8.8 percent in 2007 to 12.9 percent today.
According to an analysis conducted by moneysupermarket.com, missing a credit card repayment or making a late repayment could lead to hundreds of pounds worth of additional interest charges. Furthermore, cardholders could be left with a ‘blip’ on their credit profile.
According to new research conducted by uSwitch.com, the freezing winter and a ‘lack of significant price cuts’ have caused UK households to fall into deeper debt with energy suppliers.
According to moneysupermarket.com, whilst savings rates are low and inflation is rising, savings could be better used by reducing credit card debts. It has been highlighted that only a few savings accounts generate enough interest to offset the effects of inflation.
A study conducted on behalf of F&C Investments, which involved questioning 3,000 Britons between 35 and 45 years of age, has revealed that over half ‘do not feel fully in control of their finances'.
According to Caxton FX, credit card interest rates are at their highest level for twelve years. Therefore, the foreign exchange company is highlighting the importance of planning that Easter holiday money.
According to Moneyfacts.co.uk, growing competition within the credit card market at the end of the 1990s resulted in rates beginning to fall.
According to The Children’s Mutual, the cost of supporting 18 to 30 year old children is expected to go beyond £30,000.
According to research conducted by moneysupermarket.com, one in five Brits carries in excess of three credit cards.
According to research by Santander Cards, unnecessary foreign exchange fees to the value of £122 million were incurred by Brits who used their credit cards abroad last year.
Research conducted by Clydesdale Bank has revealed that couples could have expected to spend a substantial sum of £550 on Valentine’s Day, which equates to £4.9 billion.
According to research conducted by Santander, the typical British traveller significantly relies upon cash to pay their way whilst overseas – irrespective of whether trips are for business or pleasure.
According to credit action, the sum of personal debt in the UK stood at £1,459 billion at the end of November 2009, which represented a 0.7 percent increase across the preceding twelve months.
According to Santander Cards, 10 percent of Britons are intending to take advantage of introductory balance transfer periods during the first quarter of 2010 – by moving over £3.2 billion pounds between credit cards.
According to Aviva, Brits spend 26 times longer on their Christmas shopping than they do on searching for the best retirement income deal.
According to Engage Mutual, a survey of 3,000 parents has revealed that in excess of one in five have been borrowing from their children’s savings accounts.
According to Direct Line Home Insurance, people are not as security conscious during the festive period.
According to research conducted for Pay Pal, 41 percent of city dwellers surveyed have been shopping online to a greater extent during the past 12 months – irrespective of the fact that shops are within easy access.
According to Andrew Hagger of Moneynet.co.uk, consumers who do not keep an eye on the balance of their current account throughout the Christmas and New Year period could be making a ‘costly mistake’.
Further to research conducted by Clydesdale Bank, it has been estimated that approximately £1 billion will be withdrawn from the 6,000 ATMs in Scotland throughout December.
According to Bright Grey, Brits are under the impression that they could survive for an average of 10 months if they were to become unemployed.
According to money.co.uk, 30 million British adults are likely to commence the New Year with a collective £8 billion dent in their household finances.
With Christmas just around the corner, moneysupermarket.com has offered ‘ten top tips’ for those who are looking to reduce spending over the festive season.
According to Confused.com, non-repayment was the reason behind one in five accounts being closed by providers in the UK.
According to an estimate by Sainsbury’s Finance, the annual cost of running a car has risen by approximately 2.68 percent since last year.
According to new research conducted by AXA, 24 percent of UK adults are hiding some form of debt from their partner or family.
According to a survey by Confused.com, 40 percent of people will not contemplate applying for a credit card due to concerns that a refusal will adversely affect their credit score.
Research from Abbey Savings has revealed that 28 percent of UK parents have no savings, whilst 36 percent are reliant on savings for day to day living and to pay bills. 20 percent of those parents with no savings, have less than £1000 for an emergency.
According to research from Confused.com, 19 percent of Britons are set to visit Christmas Markets abroad this year.
According to new research by Confused.com, 77 percent of those in their early 50’s are not concerned about the possibility of having their credit card applications turned down.
According to research conducted by moneysupermarket.com, 31 percent of credits card users do not intend to settle their outstanding balance during the course of the next six months.
According to Gocompare.com, holidaymakers who stay in a holiday home belonging to them, a friend or a family member, ignore travel insurance.
According to research conducted by Aviva, 65 percent of people who have made lifestyle changes to combat the effects of the recession will revert back to life as it was.
According to Scottish Provident, 35 percent of Brits are under the impression that the State welfare system provides an ‘adequate safety net for a modern standard of living’.
According to a report conducted for Bright Grey, 25 percent of Brits are finding their finances tight when it comes to paying their monthly bills. This equates to 12 million individuals, and could increase to 18.8 million if bills were to rise by £50 a month.
New research by Abbey Savings has revealed that since January of this year there has been a 26 percent increase in the amount of money set aside by the average saver each month.
According to research by Tesco Travel Money, 34 percent of Brits planned to reduce their holiday expenditure this year.
Sainsbury’s Finance have revealed that the number of people who plan to purchase a new vehicle in the next six months has hit a seven year low.
Recent research from Halifax has revealed that 73% of students at university are working in order to help fund their studies.
According to new research by LV= home insurance, in excess of 8 million British adults have shared their PIN with someone else during the course of the past year. This has been to allow another person to make a purchase, or to withdraw money from a cash machine. Findings reveal that 34 percent of Brits have been asked to do this and that 24 percent of the PIN holders in question have fallen victim to fraud.
According to new research conducted by NS&I (National Savings and Investments), the recession has resulted in 63 percent of the population becoming more financially savvy. Of these, 48 percent are reported to know precisely how much money is sitting in each of their accounts. In relation to the entire population, this applies to 46 percent. An additional 33 percent know approximately how much money they have in their bank account and savings – give or take £50.
According to new research conducted by the Halifax, the average student’s term time living expenditure has seen a 5 percent rise from 2008 to 2009.
New research from Santander Cards has revealed that people are cutting their average budget by £256 per person per week.
According to uSwitch.com, should those students entering university education this September chose the wrong current account, they may collectively end up paying £30 million in interest payments.
Natwest recently published its latest Student Living Index where Brighton was revealed as being the most cost effective university town in which students live.
According to MoneySavingExpert.com, 18 percent of couples anticipate that a week’s holiday in a foreign country will set them back between £402 and £1,002.
According to new research by Sainsbury’s Travel Insurance, 63 percent of British holidaymakers are planning to spend their summer break in the UK.
According to research by moneysupermarket.com, most Brits who are looking to cut back on insurance to make savings would only cancel “unnecessary” policies.
New research from Sainsbury’s Travel Insurance has revealed that Britons intend to take a total of 56 million holidays this summer, spending a total of £43.86 billion on them.
The Children’s Mutual recently reported that over 5.5 million young people in the UK obtain finance help from their parents to fulfil aspirations and dreams.
Research from Tescocompare.com has shown that 14.6 million people have reduced spend by up to £100 per month on their credit cards.
According to an analysis conducted by Virgin Money Credit Card, the first quarter of 2009 saw a 25 percent increase in the amount spent on going out.
According to the Scottish Widows Savings and Investment Report, the current economic environment is having an impact on UK savings patterns.
According to the annual Halifax Unsecured Personal Loans review, it would seem that home improvements and cars are not the only motivating factors behind seeking finance.
According to research by moneysupermarket.com, the nation is divided regarding the Government’s car scrappage scheme.
News from confused.com has revealed the levels of debt within UK homes, with people owing more than they earn within a year.
Recent research by Halifax Current Accounts has revealed that wedding goers in Britain are spending £624.10* attending loved ones weddings.
Moneysupermarket.com has advised making larger repayments in order to pay off debts faster and more economically.
According to Abbey Savings, typical British savers presently set aside an average of £120 per month.
According to a Halifax Savings Report, based on data from the company’s deposit savings database, the average balance of female savers in the UK equates to virtually 40 percent of their annual gross earnings. In contrast, the average balance of male savers in the UK has been recorded at just 23 percent – 17 percent less.
New research from Abbey Credit Cards has revealed that Brits are now opting for a ‘no frills’ approach to spending in a bid to get through the credit crunch. This has involved people stepping away from grandiose or complex purchases.
According to new research by Halifax Credit Cards, financial transparency is not always prominent in relationships.
To help people find out just what their money management style is, Norwich and Peterborough Building Society (N&P) is launching an online survey to assist people in establishing what kind of money managers they are. Advice is also offered in a bid to help them gain a greater level of control over their hard earned cash.
According to uSwitch.com, their regional recession index has revealed that Britain’s rural and industrial areas have been subject to the greatest impact of the recession.
According to moneysupermarket.com, workers that are not able to stay in credit are now going into their overdrafts 20 days after pay day – an entire week earlier than in 2007.
According to new research carried out by Fairinvestment.co.uk, 63 percent of Brits have found that their finances have become tighter since the onset of the recession.
According to Unbiased.co.uk, 2008 saw a shift from saving to debt repayment - this comes as a result of the advice website’s new ‘Savings Brake’ research.
According to new research conducted by Halifax, the number of internet users that utilise online banking has risen from 29 percent in 2003 to 49 percent in 2008.
According to uSwitch.com, the recession combined with the weak position of the pound in relation to other major currencies is causing holidaymakers to struggle when budgeting for their travels.
According to a study conducted by MORE TH>N, the currently challenging economic conditions are not only adversely affecting our personal finances but our pets too.
As many Brits choose to spend the Easter break at home, as opposed to going abroad and losing out on the pound to Euro conversion, it may pose the ideal opportunity to conduct a financial review.
According to the Citizens Advice Bureau (CAB), many of the people that are turning to them for debt advice will never be able to pay off the money that they owe.
According to Sainsbury’s Finance, the currently challenging economic conditions are not only having an impact on us but on our pets too. It would seem that approximately 4.64 million pet cats and dogs are feeling the effects as owners curb their spending.
According to Unbiased.co.uk, the nation worked for the first 83 days of the year merely to cover the interest on debts.
According to The Children’s Mutual and the Social Issues Research Centre (SIRC), many parents may be set for rather unattractive finances in the future.
According to new research conducted by Abbey Savings, it would seem that the British are intending to save their way through the recession.
According to recent news from USwitch, UK consumers are forking out around £98 billion in interest on their personal debts.
According to Halifax credit cards, shoppers are spending an average of £41 on flowers and over £170 on jewellery for Valentine’s Day.
According to the annual survey conducted by LV=, titled ‘Cost of a Child’, parents could spend £193,772 on raising a child from birth to 21 years of age. This equates to £9,227 annually, £769 monthly, or £25 daily.
According to new research conducted by online payment provider, PayPal, it would seem that the current economic climate is having a negative effect on relationships nationwide.
According to Abbey Credit Cards, their new research indicates that the credit crunch is having a significant effect on British dining habits. It would seem that 56 percent of Britons are refraining from frequenting eateries as often in favour of eating at home.
According to Sainsbury’s Finance, an estimated 250,000 personal loans, with a total value of £2.93 billion, could be taken out for debt consolidation purposes during the first quarter of 2009.
According to Moneyfacts, the cost of unsecured personal loans is rising and it would seem that those of a lower value have been subject to the highest increases.
According to Saga Platinum credit card, the British public is tightening the purse strings this Christmas, with each adult intending to spend £435 on gifts compared to £516 in 1999.
According to Halifax credit cards, 32 percent of Brits planned to make New Year resolutions for 2009.
New research conducted by CreditExpert.co.uk has revealed that the current economic climate may have reduced the general tendency to avoid discussing personal finances.
Recent news from LV has revealed that 5.4 million children are aware of the credit crunch and its impact as we approach Christmas.
The ever-increasing cost of energy proved to be a major bone of contention for many British people last year.
According to new research conducted by Abbey, over 3 million Britons (7 percent) look set to move in excess of 7 billion pounds between credit cards this quarter. This is expected as a result of people taking advantage of introductory balance transfer periods.
According to research conducted by Engage Mutual, over a quarter of parents with children over the age of 25 are giving them financial support, with 31% still providing hand-outs.
The third Monday in January marks blue Monday.
According to research conducted by MoneyExpert.com, the number of personal loans on offer has practically halved since the beginning of 2008.
Recent news from Abbey reports that disposable income has dropped 29 per cent compared to two years ago. The majority of Brits are regularly having to make sacrifices in the run up to payday and current accounts are empty on average 5 days before pay day. As Christmas draws closer, 29 million say that they will have to make sacrifices.
Recent news from Go Compare.com has revealed that passing time with family and getting fit are lowering on the priority list.
In their Christmas poll, Fairinvestment.co.uk recently revealed that more than a quarter of people questioned are not anxious about money in the run up to Christmas, despite unemployment and living costs rising.
Recent research from Halifax has revealed that many of us anticipate our stockings be filled with money rather than traditional gifts this Christmas.
Halifax recently examined how consumers’ spending habits are changing for this Christmas in the midst of the credit crunch.
According to research conducted by Family Investments, many children are likely to be disappointed this Christmas morning.
Recent news from Moneyexpert has revealed that store card rates have grown by one per cent in the last six months.
In the midst of the credit crunch, many Brits would appear to be planning a more frugal Christmas this year.
Christmas is coming and the credit crunch is biting; a combination which has left many people planning more frugal festivities this year.
According to the Office for National Statistics, the number of working-age people in workless households between April and June 2009 stood at 4.8 million.
As the possibility of a fifth interest rate rise in under a year looms large, home buyers are becoming more prudent in the steps to reduce the risk of mortgaging their homes to their financial limits.
According to new research from Prudential, British adults who are expecting pay rises and bonuses are running up debt before they even receive the money in their bank accounts.
A recent vote by The Bank of England’s Monetary Policy Committee was made to raise the official Bank Rate paid on commercial bank reserves by a quarter percentage points to 5.5%.
New research from Scottish Widows reveals that people would rather talk about sex and health than money. The research revealed that nearly nine out of ten keep their salaries a secret from their friends and two out of three don’t even tell our families how much we get paid.
According to new research by Engage Mutual, today’s under 25’s are anticipating buying their first home before their grandparents did. Growing financial limitations mean those under 25 are delaying moving out of the family home by three years and getting married by four and a half years, compared to their older counterparts. One third of Britons under 25 predict waiting until they are at least 24 before affording to move out.
The last base rate rise has left a quarter of mortgage holders struggling with repayments or having to sell or remortgage.
AA Legal Services recently commissioned a survey among 2,600 elderly parents and adult children to delve into attitudes towards inheritance.
Scottish Widows have recently revealed that almost half of UK households, 11 million homes, depend on more than one salary to cover the bills and maintain an acceptable standard of living.
According to the latest Personal Credit Index survey from CreditExpert.co.uk, the online credit report monitoring service form Experian, has found that approximately 6 million Brits would only start worrying about their debts if they passed £15,000.
As a result of the Competition Commission’s enquiry in March 2006, the store card market is set to change.
With recent temperatures befitting more Mediterranean countries, it seems that the spending habits of Brits across the country are following a similar route to our soaring temperature.
It seems, according to new research from Yorkshire Bank Mortgages, that new homebuyers are likely to face a financially fraught first year.
Abbey Savings has recently found that a number of Brits are not making any plans for retirement.
Recent news from Alliance and Leicester has revealed that those in their early 30s have the highest borrowing of any age group and also have a tendency to miss repayments.
Find.co.uk recently published their top tips for spring cleaning finances.
According to recent news from Unbiased.co.uk over 7.5 million people are only saving money for short-term goals and about 3 million are describing themselves as ‘frivolous spenders.’ Research conducted by Unbiased.co.uk has shown that there are five types of spenders in Britain, these being Frivolous, Bargain, Occasional, Credit and Random. 7.5 million consumers only look at their financial situation in the short term.
News from MoneyExpert.com released in January reported that over a million missed bills were due during the first month of the year.
A recent study from Goldfish credit card shows that more than half of UK credit card holders possess credit cards that fail to provide them with any perks.The total number of perk-less cards in use is estimated to be 20 million which lack in any reward scheme or reduced promotional interest rates on balance transfers or purchases.
In the last three years more than six million people have opted to consolidate their debts in order to get their borrowing under control.
Recent research from uSwitch reveals British women’s spending habits.
An annual survey from American Express Insurance Services shows that the number of holidays abroad is set to rise for the third year in a row.
Recent research from MoneyExpert.com shows that one in every seventeen British adults has five or more credit cards in their wallets.
Recent news from APACS reported that there were a record number of transactions on plastic cards in December. There are said to have been 250 transactions per second throughout December with spending on plastic reaching £31 billion. With debit card spending rising significantly, this did in fact make up the majority of plastic spending over the festive month.
Alliance and Leicester recently reported that up to 12 million Brits failed to save anything in 2006.
In the first three months of 2007 card spending is predicted to rise by 68% say Morgan Stanley Card Index. This is compared to the same period last year and repayment figures are now at their highest since 1998.
Recent research from Abbey shows Britons believe they are managing their finances well, with 86 per cent stating they manage their finances well or very well.
Recent news from Direct Line Home Insurance revealed that Brits are set to spend £5.5 billion in the January sales.
With less than a quarter of transferred credit card debt being paid by borrowers during the interest free period, M&S Money are urging them to look beyond short-term interest free deals.
Recent news from MyCallcredit stated that January is payback time for the UK’s 31 million plus credit card users who spent an estimated £11.4 billion on credit cards over the festive season. This is an average of £360 per cardholder.
Recent research from American Express shows that families in Britain are spending almost £450 a year celebrating their children’s birthdays.
Recent news from Halifax revealed that 38% of New Year sale shoppers will spend at least £50 each in the January sales.
Clydesdale Bank recently reported that Scottish children received £190 million in cash over Christmas. As half of parents struggle financially in January, 1 in 10 will end up borrowing money from their offspring.
As the new academic year has begun, parents and students alike have begun worrying about impending debt, Halifax offers some helpful money advice to help students through their time at university.
A new study from MasterCard Worldwide has shown that when looking to take out a new credit card, three quarters of European customers look for one that offers rewards.
According to F & C Asset Management in a recent press release, up to a third of Britons are set to make financially related new year resolutions for 2007.
In the run up to Christmas, Alliance & Leicester warned that spending on credit cards could leave consumers up to £1500 out of pocket.
As A level students get their results, the 2006 NatWest Student Money Matters survey shows that this years freshers expect to pay £33,512 for degrees lasting 3 years.
New figures from moneysupermarket.com show that million of Brits are potentially facing big credit card bills each year by selecting the incorrect credit card product.
The latest research from Fidelity International shows that those collecting their A level results in 1998 could have already saved £6,400 towards retirement.
Sainsbury’s Bank recently revealed that it is important for parents to shop around for the best deal when looking to fund education fees.
Research has found that the burden of being in debt is meaning workers are delaying their retirement plans.
Research from moneysupermarket.com has highlighted the growing bill British holidaymakers are racking up on holidays.
With summer fast approaching and the belt-tightening first quarter of the year slowly passing, it is estimated by Morgan Stanley Credit Card that credit card spending is set to double.
The latest ‘Schools Sums’ index from the Norwich Union has shown that parents across the UK are set to spend £129 billion over the next 11 years.
Recent reports show that the number of young people becoming addicted to credit continues to grow.
Poor spending practices by Brits that lead to many consumers spending their money on luxury material possessions rather than clearing their overdrafts could spell an increase in the need for debt consolidation.
A recent survey by Prudential UK shows that 1.4 million pensioners are surviving on an income of £5,000 or less a year.
Research conducted by market analysts Mintel in December 2005 suggests that the UK is gripped by a borrowing culture.
There may be a distinct need for English consumers to take stock of their finances given the new research that they have some of the highest rates of personal debt in Europe.
Customers who use cash machines in convenience stores may find themselves in a position where they have to consider debt consolidation.
According to recent figures from Morgan Stanley, credit card spending was set to rocket over the next 3 months, the home and car being primary reasons.
Britons struggling with high utility bills, credit card debt and huge overdrafts have also been hit by a considerable rise in taxes since Labour came to power, new research has indicated.
Too many Britons are failing to consider their finances, instead worrying about matters which they cannot control, it has been claimed.
New research by market analysts Mintel has revealed that consumer spending has reached an all time high in the UK, with over £1 trillion being spent last year.
The government has announced the recipients of a multi-million pound grant for helping people with debt problems.
New research has indicated that the debt crisis in the UK may not be as bad as has been feared.
Working mums in the UK and Ireland struggling due to low maternity pay may want to consider taking out secured loans to help them with their finances.
If you have trouble juggling your monthly credit and store card payments, a debt consolidation loan may help solve your problem.
Every year, the amount being spent on credit card penalties grows, with a significant amount down to late payments. A secured loan can help.
