Latest Barclaycard data has revealed that spending fell by 7.2 per cent in March compared with the same month in 2019,  as the lockdown continued. However, spending on hotels, resorts and accommodation, as well as entertainment, showed early signs of improvement as consumers began to make plans for when restrictions are lifted. The report also…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in February 2021 by 26% compared with the same month in 2020. The retail store and online credit sector reported a fall in new business of 6% in February compared with the same month in 2020.  The credit…

New research by Key has indicated that retired households saw their average disposable incomes fall by 12% last year. The analysis shows average disposable incomes for retired people fell in the financial year ending 2020 from the previous year by nearly 12% with much of the cut coming from lower private pension income and investment…

Here is an overview of The Money Charity’s latest statistics for March 2021 Personal debt in the UK People in the UK owed £1,700.2 billion at the end of January 2021. The average total debt per household, including mortgages, was £60,999 and per adult was £32,087, around 107.6% of average earnings. Net mortgage lending rose by…

One in five consumers in the UK (20 percent), equating to an estimated 10.2 million people, say they are worried their finances will not fully recover from the impact of Covid-19, according to new research from the Money Advice Trust. The research, based on a poll of more than 2,000 adults conducted online by YouGov,…

Nearly a third (31%) of credit cardholders have been unable to repay their balance in full each month since the pandemic began, which can lead to further interest and debt accruing due to high APR rates, according to new research from comparethemarket.com. Among 25-34-year-olds, this figure increases to more than two-fifths (41%). Millennials are the hardest…

The divide between rich and poor is widening, as many consumers have grown their savings during the COVID-19 pandemic, while others are struggling to make ends meet according to new research by TransUnion. The research reveals the pandemic has given over a third (35%) of UK adults the chance to increase their savings and 16%…

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