Average family energy bills have risen by 63% since 2021

Research from Nationwide shows how costs have soared for the typical British family since 2021 – from mortgage or rent payments to food, energy and fuel – with more than one in five households having less than £100 spare each month. Continued high costs have led to more than two-thirds (69%) of family households feeling…

Read more

Nearly three quarters over 50s say cost of living is biggest financial concern

14th December 2023 Consumer Collections | #cost of living

The rising cost of living is the main financial concern for there quarters of people (73%) over 50 according to new research by SunLife, rising to 78% for women. The research found that only 18% of retirees and 9% of non-retirees are free from money worries in 2023. After the rising cost of living, people…

Read more

33% of shoppers plan to haggle this Christmas

A new survey by Purbeck Personal Guarantee has underlined the impact of the cost of living crisis on shopping habits with 33% of shoppers plan to haggle this Christmas. 51% confessed they have haggled for an essential product or service this year. The research suggests that 21% in the survey think it’s fine to haggle…

Read more

Nearly half of people are kept awake at night by cost of living

With the country getting an extra hour in bed as the clocks go back this weekend, Aviva’s latest study reveals that over half (51%) of the nation say they are not getting the recommended seven hours or more sleep per night. On average, UK adults were found to be getting just under six and a…

Read more

Large segment of UK ill-equipped to cope with cost of living rise

Ordinary working families are bearing the burden of the cost-of-living squeeze. New data from Lowell’s Financial Vulnerability Index shows areas with a high proportion of working families have seen a worsening in financial health compared with the UK as a whole in the first half of 2023. Lowell has identified 133 constituencies which are more…

Read more

One in two school leavers reconsidered going to University due to cost of living

A new survey from The Open University (OU) has found that nearly one in two (49%) have reconsidered going to university in the last year, because of the rising cost of living. Nearly a third (31%) of school leavers believe university is not affordable, while a fifth (20%) are still unsure if they will go…

Read more

Millions of older people borrowing money and unable to pay bills

One in five (3.4 million) people aged 50-69 and one in twelve of over 70s (670,000) in the UK have had to borrow more money or use more credit than usual in the last month compared to a year ago, new research by Age UK has found. The analysis showed that 1.3 million over 50s have a…

Read more

Chancellor meets with regulators in plan to halve inflation

Chancellor of the Exchequer Jeremy Hunt agreed a new action plan with regulators to try to ensure consumers are being treated fairly and help those struggling to make payments. As part of the government’s plan to halve inflation this year, the Chancellor chaired a roundtable with CEOs from the Competition and Market Authority (CMA), Financial…

Read more

Two in five hit by unexpected bills

Two in five people (40%) have been hit by an unexpected expense in the past 12 months costing them £1,851, up £394 in a year.according to research by Hargreaves Lansdown. The unexpected bill was most common among those aged 18-34 – half of whom had an unexpected expense (49%). Half (49%) of people were able to cover…

Read more

UK consumers feeling rising cost of living more than European counterparts

Cost of living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index. The twelfth edition of EY’s survey of 1,000 UK consumers found that 62% of UK consumers say they are ‘extremely concerned’ by the cost-of-living squeeze, compared with 50% in the rest of Europe.…

Read more

CMA to investigate possible cost of living competition failures

The Competition and Markets Authority (CMA) is to investigate whether a ‘failure in competition’ means consumers are being overcharged for groceries and fuel. The CMA says that while the evidence shows that the majority of fuel price increases are due to global factors, such as the Russian invasion of Ukraine, indications are that higher pump…

Read more

Salaries not stretching far enough for young workers

New research from Standard Life has found that first salaries might not stretch as far as young workers hope as the reality of paying for necessities like utilities and council tax kicks in. The number of people making regular ‘everyday’ payments rises significantly among those aged 25 to 34, compared to those aged 18 to…

Read more

Cost of living crisis continues as a fifth go without heating

Latest ONS data has found that the cost of living crisis has seen as a fifth of households go without heating. The research found that around one in twenty adults (5%) reported that they had run out of food and couldn’t afford to buy more in the previous two weeks amd that almost half (49%)…

Read more

1 2 3 6