Personal finance news
£218,000 to bring up a child
The cost of raising a child to the age of 21 has risen to £218,000, a report has found. Parents now spend around £10,382 a year – £865 a month or £28.44 a day – on their child’s upbringing, according to research by insurer and retirement specialist LV.
Last updated 3 February 2012
Published by http://www.cumberlandnews.co.uk
Average family debt rises to £8k
Families have added another £2,500 to their credit card and personal loan debts in the space of a year as they struggle with high-living costs, a report has warned.
Last updated 3 February 2012
Published by http://www.cumberlandnews.co.uk
Disposable income rises
The amount of money people have left to spend after buying essentials rose slightly in December. So-called ‘discretionary spending power’,which refers to the money left after bills, food and petrol have been paid for, increased by 0.4 per cent, equating to an average of about £4.
Last updated 27 January 2012
Published by http://www.cumberlandnews.co.uk
Typical car insurance quote up £50
The typical comprehensive car insurance quote for a consumer who shops around has risen by £50 in three months while cheaper deals are disappearing, the AA has warned.
Last updated 27 January 2012
Published by http://www.cumberlandnews.co.uk
‘Perfect’ pension storm
People retiring this year expect to receive £3,000 a year less than those who retired in 2008, a study from Prudential has found.
Last updated 20 January 2012
Published by http://www.cumberlandnews.co.uk
Bank overdraft charges baffle PhD student
High street banks have been accused of using overdraft penalty charges so baffling not even a maths PhD student can work them out.
Last updated 20 January 2012
Published by http://www.cumberlandnews.co.uk
Squeeze hitting charitable donations
Fewer people gave to charity in the north west than in any other British region last year, a study has found.
Last updated 13 January 2012
Published by http://www.cumberlandnews.co.uk
We’re on road to ruin
More than half of motorists in Cumbria and the north west have been forced to change their driving habits in a bid to save money this winter, according to research.
Last updated 13 January 2012
Published by http://www.cumberlandnews.co.uk
Arrears at three-year high
The number of people in rented accommodation who are in severe arrears has reached its highest level in three years.
Last updated 6 January 2012
Published by http://www.cumberlandnews.co.uk
£354k to up your game
A windfall of £354,000 would be enough to change the average person’s life for ever, a survey has found. The figure emerged in a study to mark the launch of new Channel 4 game show The Bank Job.
Last updated 6 January 2012
Published by http://www.cumberlandnews.co.uk
Families are £15 a week worse off
NEW year is not set to bring any immediate ease to the squeeze on household budgets – but experts are forecasting a possible glimmer of hope.
Last updated 30 December 2011
Published by http://www.cumberlandnews.co.uk
First-timers young but rare
The average age of a first-time house buyer in the north is now 28, a bank has found. Nationally, the average age of someone taking their first step on the property ladder has fallen from 30 to 29 in the past year.
Last updated 30 December 2011
Published by http://www.cumberlandnews.co.uk
Britons feel the squeeze
One in five households saw a drop in income during the last three months, a report has found. A survey by financial services group Deloitte uncovered the drop, which it put down to increased unemployment, people losing out bonuses, reductions in overtime and more part-time working.
Last updated 23 December 2011
Published by http://www.cumberlandnews.co.uk
First-time buyers a rarity
First-time buyers will remain an ‘endangered species’ in 2012, with more than half of them requiring deposits of at least £20,000, according to Rightmove.
Last updated 23 December 2011
Published by http://www.cumberlandnews.co.uk
Over-55s raid the piggy bank, but more of us are saving
The average savings pot among people aged 55 and over has fallen 27 per cent over the past year as more households dip into funds to meet day-to-day living costs.
Last updated 16 December 2011
Published by http://www.cumberlandnews.co.uk
Xmas debt is ever present
Nearly a third of people will ignore the economic turbulence and take on debt to finance their Christmas plans, according to a new report.
Last updated 16 December 2011
Published by http://www.cumberlandnews.co.uk
A frugal festive season
People are selling off last year’s Christmas gifts or going without heating to fund their festive spending this year, a survey from Barclaycard has found.
Last updated 9 December 2011
Published by http://www.cumberlandnews.co.uk
Luck runs out for pre-1919 houses
Houses built before the end of World War One have seen the biggest surge in prices over the last 25 years, but they have also suffered the most since the financial crisis, a study has found.
Last updated 9 December 2011
Published by http://www.cumberlandnews.co.uk
UK’s ‘astronomical’ living costs for family of four
Families with two or more children need to take home nearly £25,000 a year just to get by amid “astronomical” living costs, research has claimed.
Last updated 2 December 2011
Published by http://www.cumberlandnews.co.uk
A generation of generosity
Britain’s over-50s have been dubbed the “generous generation” after a report found that a third are providing financial support to their children and grandchildren.
Last updated 2 December 2011
Published by http://www.cumberlandnews.co.uk
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