A report by AXA Avenue claims that Britons are increasingly torn between two tendencies: their “Dr Jekyll” side, which encourages them to save, and their “Mr Hyde” half, which tells them to finance their lifestyle on credit cards and credit…
Continue reading the "“Jekyll & Hyde” savings disorder exposed" »
Although declaring bankruptcy can clear debts within 12 months, financial advisers are keen to remind borrowers that they can face further financial problems for years to come. Insolvency can adversely affect a person’s credit rating for up to six years,…
Continue reading the "Bankruptcies have “massive repercussions for years”" »
The alarming findings reveal that 38 per cent of Britons have no savings whatsoever, while just 30 per cent have more than £3,000 put to one side should they suffer a loss of income. However, if this was to happen,…
Continue reading the "Savings fail to counter financial commitments" »
Mr Butler said that there was conflicting evidence to explain the 23,300 personal insolvencies witnessed in the first three months of 2006. He pointed towards “a lot of complete opposites happening”, such as mortgage arrears rising while the property market…
Continue reading the "Rising insolvencies highlight “massive puzzle”" »
Many supermarkets offer credit cards with loyalty schemes, but research from Moneynet.co.uk shows that customers could get a better deal elsewhere. The credit cards tend to have higher interest rates than traditional credit card providers and money saved on loyalty…
Continue reading the "Supermarket credit card schemes “don’t stack up”" »
A recent study carried out by the financial organisation urged people to start saving for their future before they passed the age of 30. But, according to Prudential spokesperson Anthony Frost, the difficulty of getting onto the property ladder and…
Continue reading the "Savings suffer due to different debt attitude" »
The proliferation of ‘rate tarts’ – those who move their debt from one zero per cent interest credit card to the next – will see some 5.8 million credit card holders move an average of £2,061 on balance transfers, according…
Continue reading the "Britons are bait for balance transfers" »
Despite the 73 per cent increase in bankruptcies since last year, economics analyst Lombard Street Research remains positive regarding the consumer outlook. “We remain optimistic on the UK consumer outlook,” said the firm’s Michael Taylor. “The recent surge in individual…
Continue reading the "Consumer confidence not affected by bankruptcies" »
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