The Resolution Foundation has predicted that the coronavirus crisis will see Britain’s 15-year squeeze on household incomes prolonged, with pay cut by £1,200 annually within the next four years.  The Foundation’s report ‘Here Today, Gone Tomorrow ‘shows that the Covid crisis is causing immense damage to the public finances and permanent damage to household finances…

Women approaching retirement are facing a confidence conundrum: they are the most anxious about being able to afford a comfortable retirement yet are the least likely to consider alternative funding options to plug the gap. A new report published by the Equity Release Council (the Council) and finance specialist, Key, titled The Pension / Property…

Consumers are more than twice as likely to feel anxious about their finances than they are to be content with them, leading to sleeping problems and distraction at work. A survey of 2,000 consumers revealed the average person loses almost 22 hours of sleep each year thinking about their money woes in the middle of…

The amount spent by consumers on Black Friday has soared by 20% in three years according to the latest spending data from Lloyds Bank. Last year, when Black Friday fell on payday for many, customers spent in excess of £718m. Looking at the longer-term historical trend, and taking into account that 2020 Black Friday will…

One in three people has got into debt since the start of the pandemic, according to a new report by national poverty charity, Turn2us. The findings also reveal how families with three or more children are twice as likely to run out of money as families with only one child. The report, which was co-designed…

The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…

Average spending on credit cards has levelled after previous months’ increases, whilst rates of one missed payment fell according to new analysis by FICO. The analysis of card trends for September 2020, highlightedthe continuing impact of Covid-19 on household finances even while furlough and payment holidays remained in place during the month. Stacey West, principal…

Older homeowners are using their property wealth to clear debt and help family with nearly three-quarters of the £884 million released going to boost their finances and support relatives,  according to new analysis from equity release adviser, Key. Figures from the company’s Quarter 3 (Q3) Market monitor report highlight that the market has returned to…

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