Spending Habits
Changing the way we pay - contactless celebrates its 10th year
To coincide with the 10th anniversary of the UK’s launch of contactless technology, UK Finance has published the latest usage figures.
Consumers’ inflation concerns reached 43-month high over the summer
Inflation worries have reached their highest level since January 2014 as consumers continue to feel the impact of rising prices and sluggish wage growth, according the latest Lloyds Bank Spending Power Report.
2017 wedding season to cost guests £27.5 billion
As the 2017 wedding season gets underway, new research from American Express reveals that nearly a third (31%) of Brits will attend at least one wedding this year, spending an average of £432.
Parents contribute over £1,480 a year to their adult children’s living expenses
The financial pressure put upon young people by the rising cost of living means that many are turning to their parents for help, receiving an average of £123.60 a month (£1,483.20 a year) to help towards their expenses.
2017 planning: how to keep on top of your finances
When many of us decide on our New Year resolutions, managing our money better is often a major focus – and why shouldn’t it be?
Brits set to spend £1,500 each to have themselves ‘a wonderful Christmas time’
With stockings to fill, turkeys to stuff and seasonal breaks to be had, Brits intend to spend nearly £1,500 (£1,484) each this festive season.
A cut in VAT could plough billions into UK businesses
Research from commercial insurer NFU Mutual has found that two thirds of consumers would increase spending if a reduction in VAT is announced in the Autumn Statement.
Spending declines by half between early and later retirement
New analysis of income and average expenditure statistics by Aegon has found that spending falls by half amongst those aged 50-65 to those aged 75 and over.
50 Days to Christmas... but half of Brits yet to hit the shops
With 50 days to go, the countdown to Christmas is now definitely on. However, research from American Express shows that many Brits are yet to catch the Christmas spirit with over half (54%) still to start their seasonal shopping and of these, 22% are planning to delay it until December.
UK retail sales to grow an estimated 2.5.% in December 2016
As Brits start to turn their minds towards filling this year’s stockings, Mintel estimates that total UK retail sales will grow 2.5% in December 2016 to reach £42.2 billion.
Playground pressure sees parents spend nearly £350 to kit the kids out for school
Parents’ purses may have taken a hit over the recent school holidays, but there is now one more cost to plan for.
Brexit uncertainty puts Brits on hold
New research from Gocompare.com suggests that uncertainty about the fallout following the UK’s decision to leave the EU means that many Brits are putting their lives on hold.
Peer pressure costing parents £6 billion a year
Nearly half of parents (48%) feel compelled to make ‘peer-pressured parental purchases’ for their children such as smartphones, fashionable clothing and expensive parties, according to research from Sainsbury’s Bank.
Brits spend nearly a week's salary to attend weddings
With wedding season upon us and people gearing up to attend their nearest and dearest's big day, new research from American Express reveals guests are set to spend £479 per wedding this year. This is just £24 less than the UK average weekly salary.
Decline in UK essential spending slowed in May
Consumer spending on essentials fell once again in May, though the pace of decline was at its slowest since March 2015, according to the latest Lloyds Bank Spending Power Report.