June 2018

Report from Money Advice Service links mental health and debt

Over half of adults questioned have experienced mental health concerns due to financial worry

 
According to research from the Money Advice Service more than 55% of adults have struggled with their wellbeing because of money problems at some point in their lives.
 

Consumer spending rises 5.1 per cent year on year in May

BarclayCard say good weather caused rise in non-essential expenditure

 
Barclaycard has released a report that claims the hot weather over the early May bank holiday encouraged shoppers to head out and about, with an increase in consumer spending of 5.1%.
 

Report highlights high cost of rent-to-own

FCA investigation finds rent to own consumers paying hundreds more for appliances

 
The Financial Conduct Authority has released a report on rent to own (RTO) retailers, as part of their investigation into high-cost credit. RTO companies provide household appliances that are in effect “rented” for a period of time, with buyers making weekly or monthly payments until the full amount of the credit agreement has been settled.