The era of debt-fuelled consumer spending is over, a financial expert has claimed, pointing out Britain’s consumer debts of nearly £1.5 trillion.
Tim Moss, head of loans at moneysupermarket.com, seemed to be talking himself out of a job by claiming consumers can no longer afford to fund purchases on borrowed money.
Consumers must face up to their [...]
Financial pundits have praised Halifax’s new Clarity credit card for its simplicity, but warned it may not be the best deal for customers looking to borrow money long term.
Moneynet.co.uk welcomed the Clarity’s easy to understand fees, with no complex introductory offer and just one rate of interest for purchases, balance transfers and cash withdrawals.
“It’s a [...]
Young people are plunging themselves into unmanageable debt because they not being adequately educated on how to handle their finances, moneysupermarket.com has claimed.
The price comparison site said the failure of Britain’s schools to offer education on money matters is putting a generation of young people at financial risk.
“Financial education has been on the agenda so [...]
Insurers need to “change their approach” to older travellers, moneysupermarket.com claimed this week.
A spokesperson for the price comparison site made the comment after research found that British travellers can see travel insurance premiums more than double after their 65th birthday.
Multi-trip policies in Europe increase by up to 174% for travellers aged 65 or older.
Worldwide equivalent [...]
Over 14 million Brits are using credit cards to fund everyday expenses, according to research by moneysupermarket.com.
The price comparison site said the reliance on debt to pay for day-to-day purchases is a “worrying trend”.
Purchasing goods online is the most popular use of credit cards, with 56% of credit card holders using their card for internet [...]
Brits are fed up with the consumerism and money concerns that have invaded Valentine’s Day, a day that should be about celebrating love.
Research by moneysupermarket.com found nearly a fifth (17%) of Brits are planning not to bother with Valentine’s Day because they don’t like the idea of it.
“The anti-Valentine vibe is definitely in the air [...]