Single people slashing spend to make ends meet

24th October 2023 Arrears and Recoveries | #spend

Singles are forced to spend around a third more on housing per person than their couple counterparts – despite living in cheaper accommodation. They also spend more per person on fixed costs like food and communications according to research by Hargreaves Lansdown. The research found that individuals have to cut costs wherever they can, so…

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Four in ten use credit to cover essentials as consumer spending grows

Inflation and rising bills mean households are spending 12% more on essentials than they were a year ago, with almost four in 10 people having to use credit cards to cover these costs, research by Nationwide Building Society data shows. The monthly Spending Report analysed around 208 million debit card, credit card and Direct Debit…

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Three quarters of consumers concerned about funds for festive shopping period

13th October 2022 Consumer Collections | #spend

Almost three-quarters of consumers are concerned about having enough funds to manage the festive shopping period, according to a new report from fintech platform Trust Payments. The survey of 2,000 residents in the UK to find out their spending habits, purchase patterns and financial concerns found that not only is the festive season a concern…

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Consumers cut back spending as inflation hits household budgets

15th July 2022 Arrears and Recoveries | #spend

Research by EY shows that consumers are cutting back their spending as inflation hits household budgets. Over a third (37%) of low and middle-income consumers are now only buying essential items, with this an increase of 11% compared to February, while 32% have switched to cheaper brands to try and save money. While almost half…

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Consumer card spending grew 13.7% in February

9th March 2022 Consumer Lending | #spend

Latest data from Barclaycard has revealed that spending on essential items rose 12 per cent in February. This increase was largely driven by an 11.2 per cent rise in spend on fuel, likely due to climbing prices at the pump, as well as the easing of work-from-home guidance encouraging more Brits to commute. While supermarket…

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Consumer spending slowed in January with Plan B restriction keeping consumers at home

9th February 2022 Consumer Lending | #spend

Data collected by Barclaycard reveals that growth in spending on debit and credit cards slowed in January as Plan B restrictions kept consumers at home. The analysis showed that spending increased by 7.4% in January compared with pre-pandemic levels in January 2020, the lowest level of growth since April 2021. Fuel spending rose by 6.7%,…

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Quarter of families plan to spend less on Christmas due to rising living costs

17th December 2021 Consumer Collections | #spend

Almost a quarter (23%) of UK families with children living at home are set to spend less on Christmas compared to last year, as the rising costs of living and household bills, alongside the ongoing effects of the pandemic, hit household budgets. According to comparethemarket.com’s latest Household Financial Confidence Tracker,two-fifths (41%) of families feel their financial wellbeing…

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Consumer spending grew 13.3% in September

13th October 2021 Banking and Loans | #spend

Consumer card spending grew 13.3 per cent in September compared to the same period in 2019, as consumers enjoyed the last of the summer sun. However, ongoing supply chain shortages and rising food and energy prices have hampered consumer confidence. Data from Barclaycard has revealed that spending on essential items increased 14.4 per cent –…

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