Youngsters ditch pints for savings as cost of living woes stunt spending September 26, 2022 Flocks of youngsters are ditching pints and nights outs en masse as the cost of living crunch sinks in. According to PwC’s consumer risk survey, 18-34 year olds are making major cuts to consumer spending, with 69 per cent either reducing or stopping eating out, 57 per cent ditching subscriptions to their streaming/TV services, and [...]
Queen mourning period gave tourism and retail big boost, says payment firm SumUp September 22, 2022 The Queen’s death and funeral may have led to 10 days of national mourning, but it also gave Britain a welcome tourism boost, according to payments firm SumUp. SumUp, which provides 4m small and medium-sized firms and other organisations with payment devices, said the industry experienced a spike in the last fortnight. It released data [...]
Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]
UK consumer confidence falls into negative territory for first time since 2020 September 15, 2022 Confidence among UK consumers has fallen into negative territory for the first time since June 2020, according to a survey. The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research (Cebr) fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the pandemic. [...]
Economists warn UK to face blackouts under Liz Truss energy plan September 8, 2022 Economists today warned prime minister Liz Truss’s decision to freeze energy bills for everyone in the UK at £2,500 raises the risk of blackouts. Experts at the economic think tank the Institute for Fiscal Studies (IFS) said energy supplies may run dry due to the government propping up energy spending. “Households, businesses or governments… will [...]
Almost half of Brits stop saving and paying into pension due to short-term money problems September 7, 2022 Almost half of Brits have stopped saving, investing and paying into pensions because of short-term financial pressures. With soaring inflation, rising interest rates and an impending increase in energy bills, 46 per cent of those polled by NerdWallet say they’ve cut back on long-term money planning. Among those who are cutting back, 43 per cent [...]
The price cap freeze: It’s not good, but it’s not the worst September 7, 2022 With the Liz Truss facing a host of bad options, a transparent freeze on the energy price cap might be the least bad of the lot.
WATCH: Martin Lewis left exasperated after ex-minister suggests putting foil on radiator to save cash September 5, 2022 Martin Lewis was left exasperated, after former minister Edwina Currie proposed putting foil behind the radiator to save cash this winter. The founder of MoneySavingExpert responded to the former Tory minister’s money-saving tips during the cost of living crisis, after she said it “doesn’t help” for him to label the issue a “catastrophe”. Hosting ITV’s [...]
Londoners defaulting on debt faster than rest of UK as borrowing used to meet rising costs September 5, 2022 Londoners are defaulting on their debts faster than the rest of the country, as Brits are forced to borrow more at higher rates to keep up with soaring inflation. Figures released by the Urban Institute in its Financial Vulnerability Index showed households increased borrowing in spite of interest rates going up, in a bid to [...]
Staggering 9 in 10 Brits now struggle to make ends meet with retirement poverty fears growing for millions September 4, 2022 Nine in ten people across the UK are now struggling to make ends meet, with only one in ten saying they don’t have any financial concerns, according to fresh data shared with City A.M. this morning. The shock figures raise fears around people’s financial future as well as their present as the rising cost of [...]