A decade of low pay has driven working families deep into the red, and in nominal terms, household debt has risen 1.5 times faster than wages since 2010. according to new analysis published by the TUC. Real wages in the North East still haven’t recovered to their 2008 levels – the longest pay squeeze in centuries.…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew by 8% in September, compared with the same month last year. In Q3 2019 as a whole, new business grew by 4% compared with the same quarter in 2018. In September, credit card and personal loan new business together…

Global provider of secure payment products and customer contact solutions, Eckoh has announced that it has partnered with global payments technology provider Mastercard to offer the Pay by Bank app (PbBa) as an alternative payment capability for contact centres. PbPa was created by Vocalink, a Mastercard company and meets PSD2 standards and requirements for strong…

Consumer spending grew by just 1.5 percent in October, narrowly falling behind the current rate of inflation, as consumers remained cautious with their spending according to new data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, shows that essential spending grew slightly by 0.2 percent, bolstered by a 1.5…

A third of young adults use their credit card to pay bills according to new survey findings from 118 118 Money. The research shows that the credit cards are used to purchase holidays (53%), clothes (50.9%) and food (47%). A number even admitted to paying their monthly mortgage or rent payment with a credit card (4%).…

Unexpected payments cost consumers £17 billion every year according to Lowell, which commissioned the research. The research also showed that one in five were left in debt after an unexpected bill, with a tenth having to move back in with their parents because they couldn’t afford to pay for their home. John Pears, UK Managing…

Here is an overview of The Money Charity’s latest statistics for October 2019: Personal debt in the UK People in the UK owed £1,650 billion at the end of August 2019. This is up from £1,604 billion at the end of August 2018, an extra £876 per UK adult over the year. The average total…

Credit card spending in September 2019 reached was 10.1 per cent higher than in September 2018 according to the latest Household Finance Update from UK Finance, with over £11 billion spent on cards. The level of credit card borrowing grew by 3% in the year to September 2019. Repayments have remained in line with credit…

Consumers say banks should track their personal data to help them avoid debt problems according to a new report published by the Money and Mental Health Policy Institute, supported by Barclays. It explores how banks and building societies could monitor customer data to spot signs that people are at risk of falling into debt, such…

New research by StepChange reveals many households are struggling to cope financially, with women, younger adults and single parents disproportionately affected. Nearly a quarter (24%) of Welsh adults are showing at least one sign of financial distress according to new analysis by the debt  harity. This includes 8% of the Welsh population experiencing severe debt…