In the Family Investments report, 39 per cent of parents said that they did not understand or were unsure of the difference between child trust funds (CTFs), which could cost them and their offspring dearly. “Parents see cash as a…
According to IFA Promotion, there was a 13 per cent rise in demand this summer in the amount of people looking for advice on becoming debt free and other financial queries. In a sign that people are heeding calls to…
According to the Alliance Trust, London house prices are 4.4 times the average annual income compared to 2.6 times in 1970, while the existence of student loans and easier credit means that many FTBs have large debts. Shona Dobbie, head…
Continue reading the "Debt helping to make it harder to get a home" »
Scottish Widows claims that 44 per cent of households require two salaries to keep an acceptable standard of living up, yet a quarter of homes have no savings for emergencies to repay debt. “The majority of the population is walking…
Continue reading the "Britons walking “financial high wire”" »
In its bid to help consumers make better-informed decisions to avoid needless credit card debt, the association said that data sharing to help prevent over-indebtedness had increased. A summary box, as with credit card cheques, will be included by the…
According to MoneyExpert.com, PPI can be “an expensive add-on” that can make consumers accumulate excess credit card debt, with a £3,000 balance charging an annual fee of up to £540. Sean Gardner, chief executive of MoneyExpert.com, said that for those…
Looking at the fees major banks charge for going overdrawen, moneyfacts.co.uk found that the big four high street banks would add up to £30 of debt for anyone going £1 into the red for just one day. “While it cannot…
According to internet bank first direct, 53 per cent of adults are happy to talk about personal problems but only 22 per cent discuss debt worries. Television psychologist Mo Shapiro said: “Some people feel that they are defined by their…
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