Britons owe more, pay less in interest. Will it last?

Each Briton is spending, on average, £1001 a year on debt interest repayments, 3.79% of average earnings. Between us, that’s more than £50 billion at an annual rate. That might sound like a lot but it’s actually at the lowest

October Money Stats – Mortgage arrears on the rise again

Today the UK’s leading financial capability charity The Money Charity releases The Money Statistics, giving an overview of the financial situation facing people in the UK. The Money Stats are out today and figures show that after years of steady falls,

Vote for The Money Charity’s work with parents!

Vote here by April 22nd! At The Money Charity we know that life’s big changes transform not just how you live, but your finances. Having a child is a wonderful thing, but it is also a leap from one financial

INSTANT ACCESS SAVINGS INTEREST AT RECORD LOW

The Money Charity’s Money Stats are out today. New figures show that the average rate of interest for instant access savings accounts is at a record low of 0.37%. It’s not good news for savers and means that if a

Low levels of financial capability adding 4% to UK firms’ payroll costs

Today The Money Charity is in Personnel Today explaining why firms should invest in the financial capability of their employees. With money worries being linked to poor mental health, strained personal and professional relationships and low levels of job satisfaction, there

Borrowing falls for the first time since 2011

The Money Statistics are out and for the first month since December 2011, the amount we owe in mortgages, loans and credit card debt has fallen. People in the UK owed £1.455 trillion at the end of December 2015, this

Student to borrow more and get less

  Frozen student loan threshold means graduates will pay £306[1] more a year by 2021 Bigger loans from next year mean graduates will pay back for even longer Rent rises in average halls mean that even with bigger loans, students

2015/16 Student Moneymanual out today!

Today, The Money Charity, the UK’s leading financial education charity, announced the official launch of the 2015/16 edition of The Student Moneymanual. With their 2015 report Not free at the point of entry: the reality of paying up-front for university

Why we need to keep pension tax relief

Over the summer the Treasury asked interested groups and people from around the country to have their say on how pensions ought to be taxed. We responded by defending the current principle of up-front tax relief on money you put

University students ‘Set up to fail’

At 28% of universities a student from a low-income background in England would have to pay more than half of their support on even the cheapest accommodation In some parts of the UK, the cheapest available university accommodation leaves the