Generous grandparents are planning to spend an average of £97 on each of their grandchildren this Christmas, according to the latest research from over 50s SunLife. The research found that one in seven said they planned to spend up to £30, and half up to £60, while 40% said they would spend more than £100…
Read moreLatest mortgage lending data from UK Finance has found that there were 93,630 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in Q3 2024, 3% fewer than in the previous quarter (96,090), but 8% higher than the same quarter in 2023 (87,010). The data also showed that there were 32,860 homeowner mortgages…
Read moreData from Barclays shows that spending on cards rose by 0.7% in October, marking a slowdown from the 1.1% rise recorded in September. Overall Retail spending grew 0.7% in October 2024, a slight fall compared to the year-on-year growth seen in September 2024 (1.1%). Nonetheless, this is a third consecutive month of growth for the sector as it…
Read moreConsumers are opting to spend more on experiences, with a poll from Barclays suggesting that consumers are increasingly choosing experiences over purchases. The spend data shows that consumers are predicted to spend a total of £178 billion on these activities between June and September this summer, averaging £3,322 per person (median consumer estimate: £701). While…
Read moreConsumer spending growth is at its weakest in more than three years, according to a report by Barclays. Despite falling inflation, the report found that higher council tax bills and the rising cost of broadband and mobile phones are eating into household budgets. The report found that consumer card spending grew just 1.0 per cent…
Read moreA sharp rise in debt repayments was recorded in April as cost-of-living pressures continue to bite according to research by Nationwide. The data showed that customers repaid unsecured debts of £735 million in April – a 25 per cent year-on-year rise, while the number of transactions to debt repayment increased by 14 per cent. Many…
Read moreNew analysis by Barclays found that grocery spending saw its smallest increase since June 2022, with a record 73% of consumers trying to cut the cost of their weekly shop. The analysis showed that consumer card spending slowed to 1.6 per cent growth in April, down from 1.9 per cent in both March and February,…
Read moreSpring optimism saw households spend more on the things they want in March as year-on-year essential costs began to fall, Nationwide’s Spending Report shows. The situation, likely aided by warmer weather and stabilising costs, saw discretionary spend increase across gardening, meals out and holidays at the same time costs reduced across areas including debt, utilities…
Read moreNew research by Hargreaves Lansdown has found that couples with children spend an average of £6,969 more every year than couples without. Over 18 years, assuming 3% inflation, this adds up to an eye-watering £163,175. The research also found that parents are less likely to have enough cash at the end of the month, enough…
Read moreHalf of consumers say they have cut non-essential spend in the first quarter of the year and consumers are four times more likely to save than spend, according to new research from KPMG UK. KPMG UK’s Consumer Pulse survey tracks the quarterly confidence and spending behaviour of 3000 consumers across age and income groups and…
Read moreNew research by the British Retail Consortium (BRC) has found that cash use has grown for the first time in ten years as shoppers keep a close eye on their budgets while prices rise, retailers have said. The research found that 19% of purchases were made with money last year with retail sales rising 4.3%…
Read moreResearch by TotallyMoney has found that almost 10 million (9.8 million) adults lack confidence to make financial decisions. Over the past two years, persistent inflation has driven household finances to the brink, with almost one in three adults (29%) saying they would be unable to cover an unexpected £100 expense*. At the same time, 11…
Read moreNew research by Hargreaves Lansdown has found that one in four spending more than they have earnt creating a risk of running up debts. The study also found that higher-income households are borrowing more as a percentage of their income – and have a bigger share of their borrowing on variable rates and are more…
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