New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…

New research from innovative equity release lender more 2 life has revealed that nearly a third (28%) of adult children (aged 30-55) have never discussed their parents’ financial circumstances as a family. These people describe their family as being ‘very private’ about their personal finances, suggesting that money matters are rarely or never discussed as a family.…

Unsecured debt has hit a new peak of £15,400 per household according to new analysis by the Trade Union Congress (TUC)  with a further threat of families being pushed further into the red, Debt levels are now higher than before financial crash. The new analysis  by the TUC shows that household debt rose sharply over 2018, with…

The Money Advice Trust has welcomed Lloyds, Santander and RBS’ plans to introduce controls for their customers over where they can spend their money, including allowing the blocking of gambling payments. The announcement follows on from the launch of similar controls by Barclays last month and work from Monzo and Starling in this same area…

Data from the latest report from the Bank of England data shows that the annual growth rate of consumer credit slowed in November 2018, but credit card lending was still 7.9% higher than a year earlier, with other consumer credit lending up by 6.6%. Commenting on the latest figures, StepChange Debt Charity CEO Phil Andrew…

Over one fifth of Brits (22%) say they feel most financially under pressure in January, following the excess of Christmas according to research from TDX Group, an Equifax company. The research indicates that of all the months in the year, January is the most financially difficult, with 26% of females flagging it as a pressure…

French Duncan LLP estimated that last year, approximately 12,000 people in Scotland became insolvent, the highest level since 2013. The firm says the figure could be even higher by the end of 2019, with rising household bills, food costs and stagnating wages contributing to an estimated 230 bankruptcies each week. Eileen Blackburn, French Duncan’s Head…

One in five British adults (20%) would find it somewhat difficult, very difficult or impossible to immediately pay an unexpected bill for an amount as little as £20, without assistance from an external source, according to new research from R3, the insolvency trade body, and ComRes. Around 1 in 20 (6%) of British adults said…

UK Finance has published its latest Household Finance Update for November 2018 which has revealed that £11.3bn of credit card spending in November was 7.5 per cent higher than November 2017. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.3 per cent. Personal borrowing through loans and overdrafts grew…

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