Norwich Union points to the US where financial education is included and says that people are, on average, richer by a year’s earnings between the ages of 35 and 49. “It pays to get clued up,” said Miranda Lewis, senior…
Continue reading the "Brits would benefit from compulsory finance curriculum" »
From today, new customers will no longer be able to move existing credit card debt to Amex as it takes action against people who switch from one provider to another when introductory offers cease. Robert Kenley, head of cards at…
JP Morgan’s study shows only a fifth of Britons understand basic pension terminology, such as defined contribution (DC) or defined benefit (DB). “Confusing financial terminology is contributing to the UK pensions deficit and it is worrying that this is delaying…
Continue reading the "Pension debt derives from ignorance" »
According to accountancy giant PricewaterhouseCoopers (PwC), the amount of money consumers are spending beyond their means is to blame for the growing numbers of IVA applicants, website This is Money reports. “People are simply spending too much,” said report author,…
Experian believes that its new report will get rid of misconceptions about debt and the effect on individual credit ratings. “There are a number of myths about the credit reference processes that have been perpetuated over the years, leaving many…
Continue reading the "Credit report misconceptions uncovered" »
He labelled inflation expectations “not of serious concern yet”, although many people already fear an interest rate rise that could push them further into debt. His comments may fuel speculation that the governor is reluctant to increase interest rates from…
Its latest research shows that student loans are leading to high levels of debt that are set to lead to a decline in home ownership unless something is done. “While home-ownership remains a long-term aspiration for the majority, the reality…
Continue reading the "CML: Help needed for indebted first-time buyers" »
The Institute for Public Policy Research (IPPR) survey reveals that nearly five million parents need financial assistance for childcare, without which they risk being stuck in a debt cycle as they cannot afford to return to work. “Further investment in…
Continue reading the "Families failing to cope with childcare costs" »
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