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

Money news round-up

The clocks have gone back, Halloween and Bonfire Night have passed and the weather’s definitely getting more wintery. Yes, we’re officially now in the run-up to Christmas. But before you run off to start buying wrapping paper and presents, take a minute to catch up on the money news headlines.

1. A helping hand

If you’re looking to get back to work after having a baby, turn to the grandparents. A report by the University of Birmingham, found there was a 26% increase in women returning to work when their parents or in-laws helped with childcare. However, rising retirement age means this option might not always be available, as grandparents face increasing pressure to stay in work.

2. Spending spree

We’ve all got used to the rounds of pre-Christmas sales over the last few years and in 2017 Brits are expected to spend £3 billion on Black Friday and Cyber Monday alone, according to GoCompare. That’s an average of £108 per household, with clothes, electronics and toys topping our shopping lists.

3. Missing out

The pension pots of gig economy workers could be boosted by £75,000 if they were able to take advantage of a workplace pension. Research by the Pensions Policy Institute and Zurich Insurance found five million workers have no access to auto-enrolement pensions. 

4. Cost of a lifetime

We all know household bills are expensive, but do you know how much it could cost you over a lifetime? According to Comparethemarket.com, it’s £686,000! That’s £11,379 a year, per household on bills including energy, water, mortgage and insurance.

5. Hotel of Mum and Dad

It’s no longer just the Bank of Mum and Dad, apparently, they’re now hoteliers as well. Research by the Office for National Statistics found 3.4 million 20 to 34-year-olds are living at the Hotel of Mum and Dad. This is the highest level since record began. 

6. Suffering savers

Last week’s big news was about the interest rate rise. Many were hoping this would mean an increase on their savings, but it turns out many might be worse off. So far 17 of 150 providers have increased the interest rates of savings accounts.

And finally…

Has your broadband or landline gone wrong? Well, following a new Ofcom review, you will start to get automatic compensation for every day the problems are not fixed. So far, BT, Sky, TalkTalk, Virgin and Zen, which cover 90% of the UKs landline and broadband customers, have signed-up.

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