Help-to-Save Scheme officially launches A new savings account has been launched by the UK Government in a bid to encourage low-paid households to save for a rainy day. Via a Help-to-Save account, an estimated 3.5 million people on working tax credits or universal credits will be given a 50% bonus on every £1 saved over […]
Read MoreHalf of those who lend to friends and family say they won’t get it back According to price comparison site Finder, people across the UK loaned £16.6 billion to friends and family last year, but 55% don’t believe they will get all of their money back. The report states that 24.5 million had given out […]
Read MoreWhat changes financially after your wedding day? Marriage is falling out of favour, but we wondered, is there any benefit to getting married? Back in 2017, the Independent claimed that the average cost of a wedding was around £27,161, just short of the average yearly wage of £28,000 [Office of National Statistics] So what reasons […]
Read MoreOver 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. 38% pointed the finger at debt as the biggest financial issue linked to […]
Read MoreBarclayCard 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%. Non-essential expenditure increased 4.6%, its highest level of growth in 14 months. The data showed […]
Read MoreFCA 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 […]
Read MoreResearch finds older borrowers are failing to pay off debts before retirement age A new study commissioned by More2Life has found that overall debt for over-65s has grown to 35bn in three years and is expected to surpass last year’s figure of £78bn. This figure includes all types of secured and unsecured debt including mortgages, […]
Read MoreDebt Advice Foundation has been chosen as one of the latest beneficiaries of the Co-op’s local community fund We are asking for Co-op customers to help us raise money for our financial capability education programme, DebtAware. Over 10,000 children from 150 schools are currently receiving the charity’s free DebtAware money lessons, which seek to embed […]
Read MoreOnly 4 in 10 struggling with finances seek assistance A poll from Nationwide Building Society has found that most of those struggling with debt manage it alone. The lender commissioned the report to encourage people in problematic debt to ask for help earlier and they questioned over 2,000 UK adults. Of those interviewed 29% felt […]
Read MoreHave you had a call from us that you didn’t ask for? We have posted this previously but we have had an influx of new complaints today. Please be aware that a fraudster is calling members of the public pretending to be from Debt Advice Foundation. It has been reported to us that someone is […]
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