Personal Finance News

22 Jan

DIY: The Home Renovations That Don’t Need Planning Permission

Trying to figure out which projects you can do without planning permission can be a bit of a minefield, but don’t panic. As a rule of thumb, most structural changes are subject to building regulations, but some ‘bigger’ renovation projects can be done without planning permission if you adhere to the set size regulations. Whether […]

21 Jan

Extortionate minimum repayment trap leaves borrowers thousands out of pocket, warn credit experts

Research from credit experts TotallyMoney and MoneyComms reveals how just making minimum repayments on credit card balances costs customers thousands in interest and takes over two decades to clear. Only making the minimum repayment each month will take over 26 years to clear a credit card balance Customers expected to lose a staggering £3,775 due to interest Fixing monthly repayments to the first […]

14 Jan

Credit experts warn of holiday pitfalls as 5.2 million jetsetters snap up January bargains

Credit experts TotallyMoney have advised that those booking holidays could protect themselves under Section 75 of the Consumer Credit Act by using a credit card, meaning customers could get their money back should something go wrong. The advice comes at a pivotal time for holiday makers with Flybe at risk folding, following the devastating collapse of Thomas […]

14 Jan

Kids received a record £273 pocket money in 2019

RoosterMoney, the pocket money app, reveals that kids received a new high of £273 pocket money (£5.25 a week) last year, up 7.5% from 2018, and encouragingly they saved 38% of it. This is in stark contrast to the latest statistics showing adults are only managing to save 6.8% of their income. Children are picking […]

12 Jan

70% of people still unaware of Open Banking

Open Banking has the potential to improve the way in which consumers manage their finances. However, two years on from its introduction, Which? has found nearly three quarters (73%) of people still haven’t heard of Open Banking. Of the just over one in four people (27%) who had heard of Open Banking, only 4 per […]

2 Jan

Holidaymakers rush to book holidays this January

This January will be the most popular month for people to book holidays for the coming year according to new research from Sainsbury’s Bank Travel Insurance. The study indicates that around 6.4 million people across the nation are looking to book getaways then. More than three quarters (76%) of UK adults will go on holiday […]

29 Dec

Consumers forced to clear debt over a year early due to lenders’ 0% balance transfer squeeze

Research by credit experts TotallyMoney and MoneyComms warns that lenders are putting the squeeze on introductory 0% interest cards for balance transfers. Consumers looking to take charge of their debt in the new year may struggle to find a deal that lasts long enough to clear their debt interest-free. The maximum term for interest-free transfers […]

23 Dec

Record-breaking fraud prevented in run up to Christmas

23 Dec 2019 A record-breaking number of transactions are being processed in the run up to Christmas as shoppers rush to finish last minute shopping. Since Black Friday, NatWest customers have spent £11,816million. This is coupled with a record number of fraud attempts, with NatWest flagging and preventing 39,181 fraudulent transactions, preventing debit and credit customers from […]

19 Dec

Parents plan to splash out an average £108 on stocking fillers

19 Dec 2019 New research from Charter Savings Bank reveals that parents are collectively spending £2.45 billion on stocking presents for their children this Christmas, with parents splashing out an average £108 on stocking fillers during the festive season. The growing spending on stocking fillers highlights the enduring importance of the Christmas stocking tradition – just […]