Young adults are attempting to stave off debt by relying on their parents for financial backing, a study has revealed. The average ‘savings sap’ is up this year, from £11,800 to £13,660, according to the Scottish Widows Savings and Investments…
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Workers on a low income have been hit much worse by the recession than those earning significantly more – leaving them more susceptible to debt – research has shown. The Resolution Foundation found that those on smaller wages are more…
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The average UK household debt is almost £60,000, new figures released today show. Including mortgages, the actual figure stands at £58,040 – according to statistics released by Credit Action – while the amount needing to be paid back by the…
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Britons wary of falling into debt saved money on their holidays last year by booking directly, research has shown. A study by Santander Cards has revealed that a collective £4.92 billion was saved as the public tightened their belts. An…
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New changes will make Debt Relief Orders (DROs) available to a wider range of people, an expert has said. The Department for Business, Innovation and Skills has announced that the alterations will take effect from April 6th. Tom Howard, a…
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Families in debt are not improving their financial situations in 2010, research has shown. Vox pops conducted by Adfero show that January was the second consecutive month when families were no better off than the previous year. The findings are…
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Customer spending is expected to remain at a relatively low level over the coming months, according to a CBI survey of high street retailers. Debt worries, credit card bills and loan repayments might be contributing factors to forecasted prudence in…
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The benefits of store cards are often outweighed by high interest rates, an expert has noted. Tom Howard, spokesperson for the Consumer Credit Counselling Service, explained the products can be marketed as a means to obtain a promotional discount, but…
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