IVA News

Economists are predicting that the figures released by the Office for National Statistics on Wednesday will show the number of people out of work has surged to a 17 year high. It is also predicted that figures will reveal youth unemployment has passed 1 million for the first time since records began.

http://www.dailymail.co.uk/money

Aol Money – Ten ways to save on food

According to the British Retail Consortium (BRC), food prices have been pushed up by 4.9% since last May. Consumer magazine Which? looks at how you can cut the cost of your weekly shop.

http://money.aol.co.uk/2011

Telegraph – Value of private pensions falls by nearly a third in three years

Research has revealed that people with private pensions will be 30% worse off than those with similar savings who retired in 2008 as a result of falling stock markets and poor interest rates.

http://www.telegraph.co.uk/finance

The CCCS welcomes new figures which reveal a dramatic fall in the number of people who are hiding debt from their partners. The number of people contacting the charity for debt advice who say their partner is unaware of their financial problems has fallen by over 3,000 in just 3 years.

http://www.cccs.co.uk/Portals

Telegraph – Household spending at lowest level for 10 years

Official figures reveal that the amount people are spending on essentials such as petrol and day-to-day groceries has fallen to its lowest level in more than a decade.

http://www.telegraph.co.uk/finance

Daily Mail – Families ‘will ration heating’ this winter – and some are set to turn it off altogether

Figures show that more than 1 in 4 households are already struggling to pay their energy bills. There is concern that many strapped-for-cash households will refrain from turning on their heating when the cold sets in as they are worried about the size of their bills.

http://www.dailymail.co.uk/money/bills

Figures reveal that consumers paying just the minimum repayments each month towards a £2,000 credit card balance will take 22 years to pay of what they’ve borrowed. They will also face paying an extra £2,275 in interest by doing so.

http://www.telegraph.co.uk/finance

Guardian – Cheapest energy deal rises beyond £1000

Energy customers are feeling the pinch as the cheapest energy deal soars to over £1000 a year. Experts urge households to sign up to fixed-term deals or a cheap internet tariff to save money this winter.

http://www.guardian.co.uk/money

Daily Mail – Shoppers spend £4,000 on credit cards each year, study shows

A report by Standard Life has revealed that just over half of UK adults own credit cards, spending an average of nearly £4,000 a year. The news comes just as David Cameron urges households to pay down their debts.

http://www.dailymail.co.uk/money

Today the Prime Minister will urge Britons to pay off their debts and to adopt a ‘wartime spirit of can-do optimism’ in the face the Government’s austerity drive.

http://www.dailymail.co.uk/money

Guardian – Stress now commonest cause of long-term sick leave

According to a recent report, stress over workloads, management skills and potential redundancies has become the most common cause of long-term sick leave in Britain.

http://www.guardian.co.uk/business

Telegraph – Pensioners pay £100 a week in taxes

Figures have shown that the average UK pensioner is paying 27% of their income on taxes, adding up to an annual tax bill of more than £34 billion. Experts warn people to taxes into account when saving for their retirement.

http://www.telegraph.co.uk/finance/personalfinance

According to new research, it seems that the tough economic climate has made almost half of the population change their attitudes towards borrowing money. Two fifths of Brits surveyed have re-evaluated their approach to debt, choosing not to buy something if they cannot immediately afford to pay for it.

http://www.walletpop.co.uk/2011

Guardian – Pay-day loans: making money from other people’s misfortune?

The economic downturn has seen high streets around the country lined with payday lenders. But with extortionate interest rates of up to 4,200%, many people think regulation in the industry is overdue.

http://www.guardian.co.uk/money

Telegraph – Children face university costs of £100,000

According to new research, rising inflation will mean that today’s young children will pay £100,000 on university costs and £80,000 on a deposit for their first home at the age of 25. Experts urge new parents to make the most of Government-backed tax-efficient savings schemes.

http://www.telegraph.co.uk/finance

The demand for food handouts has risen by 20% as ‘ordinary’ working people fall on hard times. The number of Britons who cannot afford food has risen from 29,000 per day to 35,000.

http://www.dailymail.co.uk/news

Telegraph – Energy firms flout rules by charging you to switch

With energy price hikes now in full swing, many customers are choosing to switch their provider to find the best deal. Some energy firms have been found to flout Ofgem rules by charging energy customers to leave their service.

http://www.telegraph.co.uk/finance

Independent – Trouble ahead for today’s pension dropouts

It’s no surprise that 35% of pension scheme members have frozen their contributions because they are struggling to cope with the rising cost of living. But what impact will this have on their financial future?

http://www.independent.co.uk/money

A survey from moneysupermarket.com has revealed that 1 in 4 Brits, around 13 million people, say they are worried about receiving bills. With inflation on the rise, ‘bill phobia’ is only set to get worse.

http://www.walletpop.co.uk/

Guardian – Co-buyer websites seek discounts for all

Consumers are finding new ways to bring down the cost of goods. Many are taking advantage of the numerous group buying websites which have recently launched, such as BuyaPowa, which bring down prices as more people join the deal.

http://www.guardian.co.uk/money

Telegraph – Four in ten middle earners feel ‘poor’

According to a survey by MyVoucherCodes.co.uk has revealed that the majority of middle earners consider themselves poor, with only 1 in 5 middle earners feeling ‘well off’ despite most earning above the national average wage.

http://www.telegraph.co.uk

Soaring household bills, rising National Insurance and dramatic cuts in child tax credits is forcing 600 mothers to give up their jobs every week, figures have shown. With childcare costs on the rise and benefit cuts only set to get worse in the next year this figure is likely to increase.

http://www.guardian.co.uk/money

Guardian – UK has worst quality of life in Europe

According to research by uSwitch, the UK has been labelled as the worst place to live in Europe for quality of life. With the fourth highest retirement age, third lowest spend on health and paid holiday below the European average, 1 in 10 Britons are considering emigrating.

http://www.guardian.co.uk/money

Telegraph – Buy to let: rising rents cause problems for tenants

According to the Money Advice Trust, the number of calls it has received regarding rent arrears has risen by 84%. As the demand for rental property increases, soaring rent appears to be putting a strain on tenant’s finances.

http://www.telegraph.co.uk/finance

According to figures from leading supermarket Asda, the rising cost of living has left families with a disposable income of just £162 a week – 7.9% less than this time last year. Experts believe families are facing the biggest squeeze since the 1920s.

http://www.guardian.co.uk/money

Telegraph – A third of Britons stop pension payments

There has been a fall in the number of people who are able to pay into their pensions as a result of the rising cost of living, figures have shown. Experts warn that putting pension contributions on hold will leave many struggling to cope financially when they reach retirement.

http://www.telegraph.co.uk/finance

Daily Mail – Cost of living squeeze wipes £782 off family budget in a year – a worse fall than in the last recession

A study has shown that families are typically £728 worse off than they were last year. The decline is said to be worse than that suffered during the 2008 recession.

http://www.dailymail.co.uk/money

Consumer organisation Which? has reported two payday loan companies to the OFT. The organisation uncovered examples of unfair practice, including misleading claims about APR and lax website security.

http://www.guardian.co.uk/money

Independent – Confidence in pensions slumps to new low

According to the National Association of Pension Funds, six in ten people are not confident that their pension will give them enough money to live on during their retirement years.

http://www.independent.co.uk/money

Daily Mail – Tesco emerges as unlikely provider of silver lining to Britain’s cash-strapped householders

Last week Tesco supermarket announced that it was launching a massive price war, The Big Price Drop. Reduced supermarket prices may offer a long awaited lifeline to struggling households whose finances are buckling under the pressure of rising energy bills and high inflation.

http://www.dailymail.co.uk/money