Banking trade organisation UK Finance says more than five million Britons led a close to cashless lifestyle last year as contactless debit cards became the number one form of payment. Another two million Brits were using cash no more than once a month as the country continued to drift away from paying for things in …
Millennials – young people born between 1981 and 1996 – are wrong to be gambling on early inheritance of thousands of pounds to unlock the door to buying their first home says a new report by wealth manager Charles Stanley. The survey found that 1 in 7 expects to inherit money before they are 35, …
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A joint report by two British charities claims the five week wait for the first payment under the controversial Universal Credit is driving vulnerable people into debt. The StepChange debt charity and the Trussell Trust also claim the government’s system of advanced payments is not working. Not a solution Both charities say the emergency loans …
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Money worries are one of the biggest causes of stress in today’s world – even if you’re in steady employment. A recent survey by investment bank Close Brothers found that 77% of the 5,000 people they spoke to said money worries were affecting their work and with millennials (born between 1981 and 1996) the figure …
Thames Water boss Steve Robertson has been sacked for failing to turn round the embattled firm while a record leaks problem continues to plague the UK’s biggest water company. Former telecoms executive Mr Robertson is stepping down with immediate effect with company chairman Ian Marchant taking temporary control. A source closed to the company said …
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The government is cracking down to stop high pressure bullying tactics being used to sell funeral plans to vulnerable people ‘in a highly emotional state’. A spokesman for the Treasury said there were ‘widespread concerns around the conduct of funeral providers’ and particularly of the sales tactics they use to get customers to sign up …
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New rules which have just been introduced by UK communications regulator Ofcom aim to save consumers thousands of pounds by making sure they know when their contracts have expired. Broadband, Pay TV, mobile and landline customers will all benefit because now their suppliers must tell them that their contracts are finished as well as offering …
Debt is a part of modern day life. We all have it to a greater or lesser degree, but what is your personal attitude to it? New research has shown that the average total debt per person in the UK, excluding student loans, is £6,936. This includes two credit cards with a total balance of …
Britain’s peers have said more should be done to help young people to buy their first home. The House Of Lords select committee on intergenerational fairness and provision has told the Financial Conduct Authority (FCA) that more should be done to help first-time buyers to set foot on the housing ladder. More support The Lords …
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A scheme to refund victims of bank scams is now in force – but not all banks have signed up to it. New protection for anyone conned into transferring money to fraudsters from their own accounts has started with eight banks covering 17 brands. They are: Barclays HSBC – including First Direct and M&S Bank …