UK household finances came under increasing pressure in the last month according to research by Markit and YouGov. According to the Household Finance Index despite the growing economy people are increasingly worried about losing their jobs and higher costs of living. Of the two thousand households questioned as many as 30% stated that their finances [...]
Posts from ‘August, 2010’
1.2 Million People Using Payday Loans
The number of people in the UK taking out payday loans has quadrupled since 1996. This is despite some companies charging interest rates as high as 2,500% a year. With these high interests in mind there have been calls for the industry to bring in more safeguards to protect vulnerable lenders. These figures on payday [...]
Personal Insolvency Cases Drop 3 Percent
The number of people declaring insolvency in England and Wales has dropped for the first time since 2007. In the second quarter of this year (April-June) there were 34,743 personal insolvencies, a drop of 3% on the first quarter of 2010. However with insolvencies reaching a record high at the start of this year it [...]
Brits Changing Shopping Habits to Cut Costs
Over 80 percent of UK shoppers have changed the way they shop in an attempt to cut costs and reduce debt. This is the conculsion of a study by banking group Santander who looked into how the shopping habits of the UK public have changed during the current economic crisis. According to the research over [...]