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…

Low-income households have seen the fastest rise in the use of consumer debt since the financial crisis, and are too exposed to financial shocks, according to new research published by the Resolution Foundation. The ‘An outstanding balance?’report explores changes in the use of consumer debt – including credit cards, store cards, mail order and hire…

New data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, has revealed that spending on essentials declined 0.9 per cent in December, with supermarkets contracting by 0.9 per cent compared with December 2018. Petrol expenditure also fell by 0.5 per cent. Many retailers also continued to see contractions in…

More than half of the UK consumers (almost 27 million), will head into 2020 in debt, with almost five million owing over £10,000 in loans and credit, according to a poll conducted by money.co.uk. Money.co.uk polled 2,018 people living in the UK, aged 16-64 years, and found that, not including mortgages, almost two thirds (63%) will…

According to new research by GoCompare, only 43% of consumers will start the new decade with their finances in good shape. Younger adults are the least optimistic about their finances.  Just 29% of 18 to 24-year olds and 26% of 25 to 34-year olds feel they are in good order.  In stark contrast, over half…

Here is an overview of The Money Charity’s latest statistics for December 2019: Personal debt in the UK People in the UK owed £1,665 billion at the end of October 2019. The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings. Net mortgage lending rose…

With the Conservative Party winning a majority of seats in the House of Commons the Federation of Small Businesses (FSB) says that the result of a majority government brings the hope of stability for small firms. FSB National Chairman Mike Cherry said “Small business owners will be hoping that today’s result helps to bring stability…

Household debts (excluding mortgages) are on the rise in the UK, according to the Office for National Statistics (ONS). Total household debt in Great Britain was £1.28 trillion in April 2016 to March 2018, of which £119 billion (9%), which suggests that average household debt rose to £9,400. £1.16 trillion (91%) was property debt (mortgages and…

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…

Set against a backdrop of unprecedented change – British small businesses are remaining stoic and are facing the next three months with renewed focus and a determination to succeed. New research from Hitachi Capital Business Finance shows that for the sixth consecutive quarter confidence levels have varied only by 1%, with the number of businesses…