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Houses on hill

In the news: this week's top stories

It’s been a sad week for Generation Rent with many admitting they don’t think they will ever be able to buy. In other news, a study has revealed we are happier talking about sex than money. Read on to catch up on the headlines of the week.

1. Almost half of Generation Rent think they’ll never buy

Millions are facing up to the idea they’ll never be able to afford their own home with house prices now higher than ever.

According to Post Office Money 45 per cent of renters - around nine million people – don’t believe they’ll ever be able to buy. The biggest barrier to buying a home is the deposit. Many also worry they couldn't cover an interest rate rise.

2. Energy consumers swap from Big Six to independents

Consumers are moving from the Big Six energy giants  to cheaper independent suppliers. New findings from Cornwall Energy show that independent suppliers now hold 13.4 per cent of the market, a 50 per cent rise over the year from 9 per cent last year.

First Utility continues to be the fastest-growing and now holds 4 per cent of the gas and electricity market with 765,000 households. Figures show the Big Six firms - British Gas, EDF, E.on, NPower, Scottish Power and SSE - have lost 660,000 customers in the last 12 months.

3. Balance transfers confuse consumers

Consumers are often left confused by ‘0 per cent’ balance transfer offers and only one in 20 understand the true cost, according to findings from Which?

It's estimated consumers pay around £334 million in balance transfer fees each year but, when asked, seven in ten incorrectly thought the transfer was completely free.

4. Young adults could face a lifetime of debt problems

Today’s 17-24 year olds are increasing facing problem debt, according to Citizens Advice.

Young people now have an average unsecured debt of £12,215 because of formal loans – like bank and payday loans – and borrowing from friends and family.

5. UK consumers are more happy to talk about sex than money

We are more likely to reveal bedroom secrets than the size of their salary, according to a new study.

University College London has found that people are seven times more likely to tell a stranger how many sexual partners they've had, whether they've had an affair, and whether they've ever contracted a sexually-transmitted disease than talk about their income.

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  • craig cowley / 28 September 2015

    What do I think I've been tracking this money and I Las 12 27 week I have no money from Jobcentre I have a broken back I have an illness now I am stressed out online and you know this but not I don't want feelings I don't want millions I just want enough motorcycle motorcycle I just want what I am old are is mine