Almost three in 10 first time mums (28 per cent) have been forced into the red, racking up an average of almost £2,500 of debt because of maternity leave, according to a new study by uSwitch.com, the independent price comparison and switching service. The financial burden of maternity leave forces one in ten (10 per [...]
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4.5 million Brits always in the red
Four and a half million Brits are permanently overdrawn and over 17 million have gone into the red over the last 12 months according to research from MoneySupermarket.com. The research found over one third of Brits (35 per cent) have used their overdraft in the last twelve months, with those aged 18-34, (49 per cent) [...]
Capital One offers balance transfer service for those with poor credit
Capital One has launched its new ‘Balance Card’ which offers those with a poor credit rating the chance to transfer existing debt to a card offering zero per cent until September. With a fee of just two per cent this new card could give breathing space to those who need it the most, says uSwitch.com. [...]
Big freeze fortnight costs households £1.6 billion
British households will be forking out £1.6 billion extra, collectively, on their energy bills as a result of turning up the heating during the recent “Big Freeze” according to MoneySupermarket.com. The comparison site found over a third (38 per cent) of energy users are concerned about being able to afford their energy bills as a [...]
Halifax launches longest fee-free balance transfer offer
New customers transferring their balance to Clarity will benefit from a 2.9 per cent p.a introductory rate for 16 months, with no balance transfer fee. The typical balance transfer fee charged by major providers currently stands at around 3 per cent. On a balance of £1,500, this equates to £45. Customers transferring a balance of [...]
Eight million Brits missing bill payments
Research from MoneySupermarket.com has found that over one in six (17 per cent or 8 million Brits) missed a payment for at least one bill in the last 12 months, potentially putting their credit profiles at risk, with credit cards coming out on top as the most missed payment. With many consumers expected to apply for [...]
Payday firm warns against rogue operators
Consumers need to be on their guard against unscrupulous payday loan lenders who are stealing money from people’s accounts. The warning comes from Ferratum, Europe’s largest provider of payday loans, which says the growing demand for the loans is paving the way for rogue operators. Ian Porter, sales and marketing manager with Ferratum UK, said: [...]
Economic confidence grows
YouGov’s latest HEAT (Household Economic Activity Tracker) index shows economic confidence is on the up. but concerns remain. The increase in sentiment was driven, almost entirely, by shifts in attitude – away from the negative and into the neutral. Increased positive sentiment did not account for the rise in index score. Worries about national unemployment [...]
Cost of raising a child: £218,000
The cost of raising a child from birth to their 21st birthday now totals a record £218,024. This equates to £10,382 a year, £865 a month or £28.44 a day. The report, from LV=, shows the overall cost of raising a child has increased by 3.3 per cent in the last year with education [...]
Britain: a nation of complications
Britain is a complicated place to live according to new research, which shows over half the population believe their lives are too complicated. And it’s money, work-life balance and family issues that are causing all that complication. Car insurance provider Admiral MultiCar found that 52 per cent of people think their lives are too complicated. [...]
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