Credit card spending did not see a rise The levels of savings seen in the UK fell in July to £7.1bn, down from £9.8bn the month before, while credit card spending did not increase. £1.4bn in mortgage debt was repaid by individuals, only the second time this has happened in the last ten years. Children […]

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Inflation could be causing the real value of savings to fall NatWest conducted research which found that the majority of parents and guardians in the UK who are setting aside money for their children, are doing so with cash. This could be damaging for their savings as their money may not grow in value, especially […]

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New research from the Nottingham Building Society has revealed the impact of the coronavirus pandemic on how much Brits plan to spend on their Christmas shopping. Even before the recently announced Tier 4 restrictions on London and the South-East, 19% of people said that they expect to spend ‘significantly’ less this Christmas than they did […]

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John Lewis has announced plans to axe a further 1,500 head office jobs in an attempt to return to profit. The retailer said on Wednesday that it plans to cut the additional jobs as part of a target to annually save £300m. “Our partnership plan sets a course to create a thriving and sustainable business […]

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NatWest (LON: NWG) has beat analyst expectations in the third quarter after posting a pre-tax profit of £355m. Boosted by the number of loans issued during the pandemic, the lender’s profit was well above the expected £75m loss. Looking towards the end of the year, NatWest has said that provisions are likely to be at […]

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Writing on week sixteen of lockdown, RBC Wealth Management’s Managing Director and Head of Relationship Management – Annabel Bosman – tells us this is an ideal time to start teaching children about the world of money management and financial skills. Having had to juggle a busy work life and childcare, Bosman tells us how she […]

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A survey by price comparison specialists money.co.uk has found that 71% of UK households have managed to save money during lockdown – slashing spending by an average of £2,879 each across the 13 weeks that Brits were told to stay at home during the peak of the pandemic. The average weekly saving of £221.50 was […]

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A report by SWNS Digital has revealed that UK smart meter owners have managed to save a combined total of almost £270 million on energy consumption alone since 23 March. Across a study of 2,000 smart meter-owning Brits, each household estimated a £39.50 reduction in energy fees during the last three months of lockdown. This […]

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U.S. banking giant The Goldman Sachs Group, Inc. (NYSE:GS) has been forced to turn away customers from its easy-access online savings account, Marcus, after a £21 billion surge in deposits threatened to overtake regulatory limits. The company decided to temporarily halt new applications following fears it would reach the Bank of England’s £25 billion cap, […]

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With new offerings entering the field of play each year, it can be difficult to know which financial vehicle to choose as the home for your money. Today, loan and investment services company Zopa provided news on their Innovative Finance ISA, which it believes could offer a viable alternative to the traditional stocks and shares […]

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