Financial drains such as mortgages, utility bills, taxes and credit card debt cost the average Briton £954 every month, yet monthly take-home pay is only an average of £1,070. “Millions of Brits are living on the edge by failing to…
Continue reading the "Pay packets provide just £27 a week" »
The charity says that debt levels have risen by a third amongst its clients since 2003, so that the average is now £13,153 – 17.5 times their average monthly income. “For many there is little prospect of their income increasing…
Continue reading the "Citizens Advice sees Brits dig deeper into debt" »
The study for Equifax showed that 53 per cent of students want the current ban on the Student Loans Company sharing information with commercial providers to end. “By putting student loan information on credit files we could be giving graduates…
Continue reading the "Students want student loan information shared" »
Research for loans company cahoot shows that 39 per cent of Britons owe money to family or friends, totalling £65 billion. John Goddard, managing director of cahoot, said that while borrowing from family was common, it had its dangers: “Problems…
Continue reading the "‘Grey market’ loans hide deeper debt" »
MyCallcredit says that even though debt is seen as a “taboo” by many, it should not prevent people struggling with debt taking action before their lives are affected. “People need to manage their finances and prioritise their debts to make…
Continue reading the "Control debt – Don’t let debt problems drift" »
According to a study by the Alliance & Leicester, those who use online banking have a clearer financial picture as 44 per cent check their account at least twice a week, compared to three per cent who use face-to-face banking.…
Continue reading the "Internet bankers keep tabs on finances" »
Research for IFA Promotion shows that less than a fifth of Britons have savings stored “for a rainy day”, with 43 per cent being forced to turn to families for help. David Elms, chief executive of IFA Promotion, commented: “Our…
Continue reading the "Lack of savings leaves Brits at risk" »
The Consumer Credit Counselling Service (CCCS) has published a report on lifestyle spending after it saw a 257 per cent rise in calls for advice from those earning over £30,000 since 2003. Helen Saxon of the CCCS, the report’s lead…
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