spending

One in three people overspent even before prices rocketed

10th March 2022 Arrears and Recoveries | #spending

New ONS data has indicated that one in three people (35%) were spending more than we made, even before the pandemic, so the cost-of-living squeeze is set to cause enormous problems. More than half (57%) of single people of working age overspent before the pandemic: a higher percentage than any other household type with 43%…

One in four will struggle to afford Christmas this year

10th December 2021 Arrears and Recoveries | #spending

Rising living costs, reduced incomes, and cuts to support among the easons more people than last year will turn to borrowing to pay for the festive season according to research by StepChange debt charity. The report says that this Christmas will be a time of financial distress for many households, with more people expecting to…

Inflation puts brakes on consumer spending

7th December 2021 Consumer Collections | #spending

With inflation surging to a ten year high, consumers’ financial optimism has taken a hit for the second quarter in a row, according to TransUnion’s latest Consumer Pulse study. In stark contrast to the renewed positivity seen earlier this year, consumers have significant concerns about the future state of their household finances, with confidence dropping from…

Two-fifths of consumers plan to spend less this Christmas

6th December 2021 Consumer Collections | #spending

Two-fifths of people plan to spend less this Christmas according to research by AJ Bell. The research found that theEast Midlands is the spendiest region. Whilst the average spend on presents is £100-£250, with 28% of people saying that’s their budget, while 26% plan to spend between £250 and £500. Just 5% of people say…

Christmas spending spree unlikely

17th November 2021 Consumer Collections | #spending

A study by the Institute for Fiscal Studies (IFS) suggests there is unlikely to be a Christmas spending spree despite consumers having around £150 billion of savings, with much of the money people have saved during the pandemic likely to remain in bank accounts until there is an upturn in the economic outlook. A survey…

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