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round-up of the last week's money and financial news

Money news round-up

With the debt of Christmas weighing on our minds and the majority of us are still trying to adjust to being back at work, we look at the week’s top stories. From the fall in new car sales, how long it will take to save for your first home and a ‘latte levy’, here’s what dominated the news.

1. New Year debt

Money Advice Trust this week gave us the cheery news that an estimated 7.9 million people expect to fall behind with bills in January. With lack of planning as one of the main causes, there’s no better time to start preparing for Christmas 2018 and stop yourself from putting all those presents on the plastic.

2. The brakes are on for new car sales

For the first time in six years, new car sales have fallen with a lack of confidence and confusion being partly to blame. Figures report that sales were down by 5.7% from 2016 and Diesel being the worst affected with a drop of 17.1%.

3. Divorce Day

Relationship charity Relate get ready for ‘Divorce Day’, the first working Monday in January, where issues caused by the stress of Christmas come to a head.

With 42% of marriages now ending in divorce, an increase of 24% in calls is expected this month.

4. The reality of saving for your first home

Nationwide have revealed that it will on average take first-time buyers eight years to save a typical 20% deposit for their first home and nearly 10 years if you want to buy in London. 

And finally…

#LatteLevy was the hot topic as MPs called for a 25p tax on disposable coffee cups, as it was revealed the UK throws away 2.5 billion cups each year, with half a million a day being littered.

However, Pret is hoping to spearhead a change in people’s habits by offering a 50p discount to customers who bring in reusable cups and Starbucks will be trialling a 5p charge on the use of paper cups in 20-25 London stores from next month.

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