January 2016

Consumer borrowing is at highest rate in a decade

The amount of money that the British public is borrowing is growing at a pace not seen since before the financial crisis in 2008. 

 
Figures show consumer credit rose by 8.3% in the year to November, with an increase on borrowing on credit cards up by £411m according to Bank of England figures.
 

Annual real term wages worth £2,270 less than in 2008

Despite 2014-2015 seeing the first real term wage increase for several years, with the average annual wage increasing in real terms by £435 per annum across most of the UK, the TUC says that UK workers are still £44 a week worse off now than they were before the economic crisis. 
 

Facing the financial facts on the 'most depressing day of the year' as Blue Monday approaches

January is one of the busiest times of the year for Debt Advice charities. At Debt Advice Foundation, calls to the charity’s helpline almost double in January in comparison to December. 

 
All the bills that were there before Christmas are still there, but now there are some new ones; recent BarclayCard research revealed that consumer spending rose by 4% in December in comparison to last year.