Archives for April 2007
A&L: Vast majority of households have manageable debt
The majority of households in the UK have manageable levels of debt, according to latest research from Alliance & Leicester.
As reported yesterday, the bank’s Borrowing Monitor found people in debt are most likely to be in their 30s. The monitor also stated that the rest of the population have average, but well-controlled borrowing.
However, the […]
People in 30s ‘more likely to be in debt’
New research suggests that consumers in their 30s are more likely to be in debt than those from other age groups.
Alliance & Leicester’s latest Borrowing Monitor suggests that people in their 30s are more susceptible to missing debt repayments than those in other age groups.
It also found that they have larger average unsecured debts, […]
Families in need of a ‘debt reality check’
British families are in serious need of a financial “reality check”, according to research.
The latest Alliance Trust Financial Reality Index suggests that despite financial conditions worsening for families, consumer spending has maintained a steady rate of 2.5 per cent.
Findings were based on three factors, including the country’s general background, household budgets and net wealth.
The […]
Britons have ‘lost their senses’ over financial issues
As Britons have become more affluent, they have started to behave more erratically when dealing with their finances, according to one expert.
MP Phil Willis, former education spokesperson, told the House of Commons yesterday that younger people face a “complex financial picture”.
He argued that financial education should be taught as a core skill alongside literacy […]
Inflation rates ‘may lead to increased debt problems’
Rising inflation rates could lead to increasing numbers of consumers being faced with debt problems, according to experts.
Speaking on Radio 4’s PM programme, Citizens Advice officer Lisa Colclough warned that high inflation figures could lead to more debt-faced consumers seeking help from the agency.
Her comments follow yesterday’s announcement that the consumer price index inflation […]
Financial risks Brits are prepared to take
Britons are increasingly taking risks when it comes to dealing with their finances, according to new research.
Data from Travelodge states that using credit cards on the internet was voted the number one risk a person was willing to take.
Other financial hazards included not saving for retirement (number eight), gambling money (number 13) and dipping […]
Schoolchildren given lessons on ‘dangers of debt’
Children in Jersey are to be given lessons on the dangers of entering a debt lifestyle.
Jersey Consumer Council deputy chairman Alan Breckon has introduced the new scheme aimed at year-11 students.
The local education department has accepted the proposals, which aims to prevent the situation of children leaving school with little knowledge of dealing with […]
Baby boomers ‘torn between financial commitments’
People aged between 55 to 64 in Britain are being financially stretched by having to support their adult children as well their elderly parents, according to research.
A new survey from engage Mutual Assurance suggests that a significant number of people in the baby boomer age bracket are having their finances stretched.
It found 60 per […]
Apacs: Credit card statement education needed
Consumers need to gain greater understanding on reading their credit card statements, according to one institution.
Research from Apacs suggests that only half of adults thoroughly check their statements, prompting the payments association to release an informative guide.
The information, entitled Understanding Your Credit Card Statement, aims to explain everything consumers need to know about terms […]
British towns ‘unaffordable for workers’
British towns are unaffordable for about 70 per cent of the country’s workers, according to a new report.
Data from Halifax suggests that average house prices in 363 out 517 towns in Great Britain are beyond employees’ finances.
The figure marks a 65 per cent rise from that of last year, with nurses and firefighters facing […]