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Pensions, scams and the cheapest areas to buy - Money news round up

Money news round-up

In the week where almost 750,000 people missed the tax return deadline and numerous scams seemed to be doing the rounds, we take a look out what was being talked about online and in the papers.

Pressure to get a smart meter

Citizens Advice have highlighted an increased amount of pressure from suppliers to install smart meters, with some households being given appointments without the chance to say no.

Chartered Trading Standards Institute (CTSI) has now got involved and asked industry body Energy UK to remind suppliers to not give the impression that smart meters are obligatory.

Which city is the most affordable?

With property prices at the highest since 2007, the 10 most and least affordable cities to buy have been revealed.  Oxford, Cambridge, Bath, Greater London and Winchester have all become out of reach for many, with property prices at least 10 times average annual salaries.

On the other end of the scale it seems the places to head to are: Stirling, Londonderry, Bradford, Lancaster and Durham. Here, property prices are five times or less above average annual salaries.

Beware of the scammers

Scams via social media have been on the increase with false ads using images of luxury items and promising high returns has resulted in thousands losing their money. Last year the UK lost £87,410 a day to these types of schemes.

Historically, over 55s have been most at risk to investment fraud, however the FCA found those aged under 25 were six times more likely to trust an investment offer they received via social media, compared with over 55s.

Retirement debt

New research from Prudential has revealed that one in five will retire this year with an average debt of £33,900 – a 40% increase on last year. Grandparents helping with house deposits, uni fees and the increased cost of living has been attributed to the rise.

The study also found that 38% are still paying off mortgages and 53% owe on credit cards.

And finally…

For those of us who can’t resist ‘bending the rules’ during a game of Monopoly, there’s now a cheaters edition. 

Featuring 15 new “cheat cards”, this new edition means not paying rent or moving your piece ahead when it’s not your turn are all acceptable moves – just don’t get caught, as it could mean fines and time in jail.

However, if no one manages to catch you out then cheaters are rewarded for their stealth with property or cash.

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