IHS Markit’s UK Household Finance Index (HFI) hit 47.6 in February, from 44.6 in January, as UK households’ perceptions of their financial wellbeing rose to its highest-ever levels. The Household Finance Index rises to 47.6, from 44.6 in January as UK households foresee a solid improvement in their financial health over the next 12 months.…

The proportion of people with a job who live in poverty went up for the third consecutive year in 2018 to a record high, with about 14 million struggling to make ends meet according to a report by Joseph Rowntree Foundation (JRF). The report shows that rising levels of employment have failed to translate into…

Poverty rates fall from 35 per cent to 18 per cent when people move into work – but even sustained employment does not eliminate in-work poverty for too many households, highlighting the need for wider support, according to new research published today (Tuesday) by the Resolution Foundation in partnership with Clarion Housing Group. With almost…

In the year up to November 2019, UK households borrowed almost as much as the Government, demonstrating that debt remains both a private and public sector issue, according to the January 2020 Money Statistics, produced by The Money Charity. The latest data available from the Bank of England and ONS shows that UK households borrowed almost…

Here is an overview of The Money Charity’s latest statistics for January 2020 Personal debt in the UK People in the UK owed £1,669 billion at the end of November 2019. The average total debt per household, including mortgages, was £59,982 and per adult was £31,643, around 111.6% of average earnings. Net mortgage lending rose…

IHS Markit UK has published its latest Household Finance Index which has shown that optimism in households has risen to a 12-month high in January. Whilst living costs continue to rise at a historically weak rate the report has found a deteriorating appetite for major purchases The Household Finance Index (HFI) – which measures households’…

A new research report from StepChange Debt Charity, ‘Problem debt and the social security system’  has indicated that the Government should take steps to reform the design flaws within the system that are causing people to experience destitution. The research findings reveal that half (52%) of the charity’s clients who are in receipt of support…

The impact of Universal Credit (UC) will be felt very differently in different places: something currently being ignored amid growing debates about how to level up economic outcomes across Britain, according to new Resolution Foundation research. The long and winding road report notes that the new parliament will be a critical period for Universal Credit’s…

UK cardholders spent £51 billion on debit cards in October 2019, up two per cent on the same month the previous year, according to UK Finance’s latest Card Spending Update. There were 1.6 billion transactions on debit cards in October 2019, 9.3 per cent more than in October 2018. This reflected a total spend of…

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