On the whole, people in Britain are actually quite happy, compared with people in plenty of other countries. That’s a conclusion of some major research carried out by the OECD (Organisation for Economic Co-operation and Development). Basically, the research looked into a number of areas to give an...

Plans to ‘ration’ water usage by price could lead to higher water bills over the summer, Thisismoney.co.uk reports. Utility companies are considering changing the way they charge in order to combat the effects of climate change. Under the new structure, households could be charged more in the...

The average interest rate on a personal loan is now at its highest level for 11 years, according to Moneyfacts.co.uk – even though the base rate is still at an all-time low of 0.5%. Today, the average personal loan rate for someone borrowing £5,000 stands at 12.7%, compared with 12.3% a year ago and...

If you’re in an IVA (Individual Voluntary Arrangement), the terms of your IVA will say what should happen with any ‘windfalls’ you receive, such as a lottery win, an inheritance – or a PPI refund. PPI (Payment Protection Insurance) is designed to help people cover their financial...

In January 2011, the average family spent 8% of its income servicing its unsecured debt. Just five months later, this has escalated to 10% – an increase of a fifth. So says insurance group Aviva, which notes that while savings are rising, so are unsecured debt levels – and families are...

Demand for payday loans through moneysupermarket.com increased by 58% between 2nd and 12th May, compared with the same period in April, the comparison site has revealed. Tim Moss, the company’s head of loans and debt, said that the Bank Holiday period -when people tend to spend more than usual –...

CPI (Consumer Prices Index) inflation reached 4.5% in April, up from 4% in March, the Office for National Statistics (ONS) has announced. The increase adds weight to the Bank of England’s assertion that inflation is heading towards 5% in the coming months – and reflects the growing financial...

More than half of savers (52%) are concerned about how inflation could affect their savings, according to BM Savings. The company’s latest ‘Saving Britain’ survey also found that the average amount saved in the last three months fell to £754, down from £768 in the previous three-month...

This year, we could see 40,000 homes repossessed. That’s the prediction made by the Council of Mortgage Lenders (CML), the trade association whose members account for almost 95% of residential mortgage lending in the UK. But what does that figure of 40,000 really mean, as a percentage? How many...

Around 17 million UK adults (35 million people) feel they could be taking better care of their finances, according to a survey by Scottish Widows. Of these, 21% say they have too much debt to feel financially secure, while 32% feel they aren’t paid enough and 25% say they try not to think about money...