Finance

A recent report from the Trade Union Congress showed that unsecured borrowing increased sharply over 2016 to that point that, by the end of the year, each household owed an average of £12,887 - the highest amount on record. The Bank of England separately issued their own statistics, according to which the average amount of unsecured debt per household comes in rather lower, at £7,089 - but this is due to them not counting student loan debts towards the total....

The average Brit would be worth £1.2 million more over a lifetime if they didn't have bills to pay, a new study has revealed. On average families shell out an eye-watering £19,187.37 every year on mortgages or rent, insurance, gas and electric. That means over the course of the average adult lifetime of 60.3 years, they will pay out a staggering £1,156,938.41 in direct debits or written cheques. The biggest chunk of that goes on bills - amounting to around £520.22...

It seems that if you are beneath retirement age you are now worse off in modern Britain. They say never get old, but that might not apply anymore, especially if you want a few more quid in your pocket. Research by the Resolution Foundation found that pensioner incomes dwarf those of working-age, who are struggling to make ends meet. Retired people are more likely to own their own home and have substantial pension pots. Weak economic growth has, for working-age...

With the number of people reporting on suffering with stress relating to financial circumstances, there’s no wonder that people are looking for alternate ways to supplement or boost their income. If you’re in a similar situation, you don’t have to panic! Here are four simple ways that you can control your income and not let your financial situation affect your stress levels: 1. Have Multiple Income Streams The chances are, you may be struggling for money at the end of...

The rich get richer and the poor get poorer appears to be the mantra of HMRC as a parliamentary watchdog has claimed they offer advice to the super-rich, so they can pay less tax. It isn't the politics of envy, it is simply unfair. It is feared that this will undermine the entire tax system, and lead to those further down the chain, possibly those on self-assessment, feeling the system is broken, and why should they pay their fair share....

Dundee, Glasgow, Edinburgh, Aberdeen and Falkirk are the top five cities in the UK for fuel poverty, according to an infographic published by MoneySuperMarket. Scottish residents who are considered fuel poor struggle to pay their annual energy bills by an average of £437 per year. The shortfall is much less (an average of £371.00 per year) for those in other parts of the UK. MoneySupermarket further explains that many parts of the United Kingdom are wasting more than £100.00 each year...

Opposition parties have pushed for the PM to disclose her finances and wealth after it was discovered she had set up a “blind trust” to handle her investments. A “blind trust” allows a way for a person to keep a stock and share portfolio away from the public gaze and a private matter. The use of this type of financial arrangement, might feel like a one rule for us and one rule for them, to the general public struggling to...

PM May’s first major interview of 2017 sent the pound into free fall after she made comments hinting at a “hard-Brexit.” She told Sky News that the UK will not try and keep “bits of EU membership.” During the interview she said: “Often people talk in terms as if somehow we are leaving the EU but we still want to kind of keep bits of membership of the EU. We are leaving. We are coming out. We are not going...

Managing money stress: 8 top tips to help manage your finances Almost half of people in the UK are said to be suffering from stress in some form and the most common cause of this stress is money. Yet, if you are feeling that money is an issue for you then you don’t need to suffer in silence. There are things you can do to wrest back control. Here are eight top tips for you to try… Have a spending...