According to new research by online bank Marcus by Goldman Sachs, almost three fifths (59%) of consumers in the UK feel pressured to overspend in social situations, which is costing us an average of £270 a year. The most common reasons why people said they felt pressured to overspend in social situations was because it…

Experian has launched “Credit Limits” for balance transfer cards, a new, industry-first service so consumers can make more informed credit choices. Experian says currently, people looking to switch their existing debt to a balance transfer card do not know whether they’ll be able to transfer the amount they would like to until they complete the…

One in five people who check their credit report find an error, new research from Which? has revealed. The consumer champion surveyed more than 1,000 people to establish their understanding of credit reports and scores, and uncovered a significant number of people finding errors in their reports, many of which went uncorrected. The survey also…

Consumer spending in November grew by just 0.9 per cent year-on-year, representing a decline in real terms when accounting for inflation, as restrained expenditure continues ahead of Christmas according to new data from Barclaycard. The data showed that spending on essentials showed no movement whilst spending on non-essentials was up 1.3 per cent, presenting a…

New data from StepChnage has revealed the effect of Christmas on people’s finances, with nearly seven in 10 (68%) unable to comfortably afford this festive season and nearly a third turning to credit to help fund Christmas shopping. The survey asked 1,533 people who use social media and will be celebrating Christmas this year about…

Recent research carried out with over 2,000 UK university students by smart thinking money app, Yolt has found that 69% of students suffer from anxiety as a result of thinking about money. A clear majority of UK university students say that there should be more access to financial education in schools (87%) and that their…

As consumers get ready to hit the shops to buy their Christmas presents – be that on the high street or online – three in four plan to do so with a specific budget in mind. However, research by Lloyds Bank has shown that, despite their good intentions, nearly half (48%), still expect to overspend.…

Bank of England (BOE) figures show consumer debt levels rose to an all-time high of £225 billion last month, increasing by £1.3 billion between September and October according to the BOE’s latest statistics. The net flow of consumer credit was above the £1.1 billion average since July 2018. The figures reveal that banks and building…

Financial stress among European consumers is rising with almost half (45%) say their bills are rising at a faster rate than their income, thus negatively affecting their general wellbeing according to Intrum’s latest edition of its European Consumer Payment Report. The report says that borrowing culture is on the rise. An increasing number (24%) have…

A combination of challenging situations are bringing high pressure on young people aiming to manage their money well and achieve financial wellbeing, according to the November 2019 Money Statistics, produced by The Money Charity.The November report draws a number of statistics related to young people together into one page, giving a clearer cumulative picture of…

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