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A round-up of this week's top money and personal finance news.

In the news - This week’s top money news

There’s just a month to go until the big day. So before you set out to grab a Black Friday bargain, take a minute to catch up on this week’s top money news.

1. Autumn Statement

The big news this week was Chancellor Philip Hammond’s first Autumn Statement and there was a range of announcements for workers, savers, renters, pensioners and Universal Credit claimers. 

2. Rapid borrowing

Christmas is always an expensive time of year, but it seems we’ve been spending up a storm well before the festive period. Borrowing on credit cards and loans went up at its fastest rate in a decade during October, according to the British Bankers’ Association (BBA). 

3. Heating up

It’s getting cold outside and many of us might be turning up the heating. But you might want to think twice before reaching for the thermostat. According to uSwitch, five of the Big Six energy companies have hiked the price of their cheapest fixed-rate tariffs since September. 

4. A dangerous bargain

We all want to bag a bargain this Christmas, but how much of a risk are you willing to take? Well, almost a third of British shoppers take a greater risk at this time of year buying presents on unfamiliar and unsecure websites, according to Financial Fraud Action UK.

5. The pensions gap

Around 25.5 million workers are in danger of not having a substantial enough pension income, according to the Retirement Income Adequacy study. The worst hit group are 35 to 54 year olds, who missed out on final salary pensions and only started workplace pensions later in their career. 

6. Beware bank transfer scams

More than £5.5 million has been reported lost to bank transfer scams in the two weeks since Which? launched its online scam reporting tool. The average loss was £1,200, but the largest amount was £400,000.

And finally…

We are all getting into the habit of using contactless payments to buyanything from our morning coffee to the weekly food shop. But what about contactless cash withdrawals? Barclays is introducing 100 contactless cash machines at 25 branches across the north of England, with a limit of £100. 

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