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A round-up of the last week's money and personal finance news.

Money news round-up

While Europe sizzles in a heat wave, the UK is struggling with a bit of a cold-snap. Thankfully, we can wrap ourselves in the warm blanket that is our weekly money news round-up.

1. Expensive electric

British Gas became the latest of the ‘Big Six’ energy firms to increase prices. The 12.5% rise on electricity will start from the middle of September. The good news is there are still plenty of ways to save on your energy bills.

2. Rates don’t rise

Something that’s not been going up recently is interest rates. The Bank of England kept them at 0.25%, meaning there has not been a rise in interest rates for a decade. 

3. Generation debt

The 25-34 year olds are one of the groups most vulnerable to financial shocks, according to research by insurer LV. Around two thirds of this age group do not have enough in savings to cope with a sudden drop in income.

4. Where the first-time buyers go

Are you a first-time buyer struggling to get on the housing ladder? Then you need to head to Southampton, Norwich or Nottingham, according to Post Office Money. These, along with Liverpool and Plymouth, are the most affordable cities in the UK.

5. Podgy pooches

We Brits love our dogs, but one in five think their pet is overweight and nearly half don’t know how much exercise their furry friend needs. This research by M&S Bank also found one in ten fail to meet the recommended requirements for walking their dogs.

And finally…

Retailers back increasing the contactless payment transaction limit, according to Barclaycard, with one in five thinking the limit should be £100. The current limit is £30.

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