Spending Habits
Well-off Brits bankroll the good life
Jet-setting, gourmet dining and sparkling wine: new research from Mintel finds that certain markets are flourishing as a result of the UK’s two-track recovery.
Recent upturn in UK essential spending falters
Consumer spending on essentials fell once more in April, with the pace of decline increasing for the first time since November, according to the latest Lloyds Bank Spending Power Report.
People still cautious about their finances despite wage increases and low inflation
New research to support the launch of Sainsbury’s Bank’s first ever ‘Family Finance Report’ reveals that, despite the emergence of green economic shoots, the majority of people in the UK are not feeling any better or worse about their finances this year than in 2015.
Households underestimate annual bills by £39 billion
As many British households feel the squeeze ahead of the January pay day and look to review their finances for the year ahead, new research from Santander Current Accounts reveals bill payers underestimated their main expenses – council tax, utilities and TV, phone and broadband - by an average of £1,459 last year.
Thrifty Brits expect to spend less this Christmas
Don’t expect too much in your stocking this Christmas as thrifty Brits rein in their spending habits in the lead up to this festive season.
Parents spend over £3,000 on Christmas presents per child up to the age of 18
Parents spend £3,186 on Christmas presents for each child, on average, up to the age of 18, according to the latest research from Halifax.
The cost of parking keeping over 50s away from local high streets this Christmas
Online shopping has been blamed for the demise of some high street shops, the cost of parking may have also played a part, according to research by Saga Car Insurance.
80% of Brits with bank accounts have used an alternative payment method in the last 12 months
Brits are switching on to new technology to manage their money and pay for goods and services according to a new research.
Parents spend £2.9 billion preparing kids for the new school year
Parents will collectively spend an eye-watering £2.9 billion preparing their kids for the new school year, according to research by Santander Credit Cards.
Brits fatigued by the high cost of shopping around for the lowest price
Over three quarters (79%) of Brits believe that there are so many options for shopping around to find the best deal that they feel bewildered and don’t always know who to trust, with 65% pinning this distrust on the overwhelming volume of price comparison sites.
Young, free but no spending spree
While many view the Millennial generation to have a carefree view of both commitments and finances, it seems the impact of the financial downturn on this generation is causing sleepless nights.
Pay-day millionaires’ struggle to make ends meet
Britain is a nation of ‘pay-day millionaires’ millionaires, with nearly one in 10 (8%) Brits spending more than three quarters of their salary within the first week of getting paid, according to new research from Confused.com.
Be your own Chancellor and reduce your annual bills by £3,500
Chancellor George Osborne will reveal the changes he’ll be making to the nation’s finances in the Budget on Wednesday, however MoneySuperMarket urges bill payers to take control of their own finances and fight back, regardless of what the Chancellor announces.
1 in 10 Brits have £10 or less left of their pay after paying their bills
Research conducted on behalf of thinkmoney shows that one in 10 adults (10%) in the UK has just £10 left to get them through the month after they’ve paid their essential bills, such as food, rent or mortgage and travel.
Spending power confidence returns to all time high as price pressures ease
The latest Lloyds Bank Spending Power Report shows a positive swing in consumer confidence in January, taking the overall index up by four points to its highest level (154).