In a recent study, MoneySupermarket found that savings habits of UK residents have changed drastically during the past year. One-half of respondents to the survey indicated that they had reduced or stopped saving money. They are doing so for many reasons, most of which pertain to financial burdens placed upon them by the struggling economy. ...

It seems no one in the UK is protected from financial difficulties. Recently revealed data indicates that the younger generation is facing the same miserable financial situation as their older counterparts. According to official figures, more UK residents age 25 to 34 are resorting to Debt Relief Orders (DROs) for insolvency than any other age ...

Between June and the end of August, UK unemployment jumped 114,000. At 2.57 million, it is the highest it has been in 17 years. For the seventh month in a row, the number of jobseeker allowance claims increased, reaching 1.6 million. Fears have resurfaced that the UK may be headed for a double-dip recession but ...

In the past, the retirement years were characterized by financial wariness. Retirees spent time gardening, fixing up their homes, and saving money for their children to inherit. Change is in the wind, with modern-day retirees living a more active lifestyle. It is becoming more common for retired parents to purchase a luxury automobile or jet-set ...

About a year ago, several heads of state, the IMF, and the Eurozone developed a financial bailout plan for Greece. Through their bridging loan, Greece was able to avoid immediate default. It is one year later and Greece is not able to repay the money, putting the countries that backed the loan in a difficult ...

Some of us dream of new careers but fewer implement this idea. The longer we have to plan for a new career, the better. Taking time to try out different possibilities and do some role-playing allows a person to identify whether this is really the new career of choice. Some people find that after volunteering ...

A recent survey of more than 400 small and medium sized business (SMB) owners yielded several interesting results. For one, these companies spend 13 business days on average managing their expenses. The majority of those surveyed said they spend more time managing their expenses than performing activities related to new business. The focus on expense ...

Fellow UK member state Portugal is in quite a pickle. On Wednesday, the country’s Prime Minister announced that a financial bailout is being sought from the European Commission due to skyrocketing debts and trouble raising money within international markets. Portugal now joins Ireland and Greece in requesting assistance from the International Monetary Fund and European ...

Results from a moneysupermarket.com survey revealed that in 2010, one in six residents of the UK did not pay at least one of their bills. Approximately four million people skipped a credit card payment, an action that can inflict serious damage on their credit rating. The survey showed that in all, eight million people admitted ...

On Tuesday, the UK was focused on Barclays, which beat expectations with an annual pre-tax profit totaling £6.07 billion. This represents an impressive 32 percent increase from last year and exceeded the £5.5 billion forecast from analysts. In addition, the company reported a 30 percent decrease in bad debts to £5.7 billion. In spite of ...

Small investors are known for entering the market just before the bubble bursts. During the latest run, they seem to have been wiser. Seeking relief from low savings account interest rates, private investors made £7.5 billion in net investments during 2010. This was the fastest rate of purchase during the last 100 years, edging past ...

Former Royal Marine sniper Christopher Farrell was among the contestants on the last season of the BBC1 show, The Apprentice. The 29-year-old is now in trouble with the law. It turns out this is not the first time but it is the first occasion on which he has been accused of fraud. On Friday, Mr. ...

With their excellent credit in hand, lawyer Brian O’Donnell and his wife Mary Pat, purchased properties in the UK during the property boom in Ireland. In the process, they bought several trophy buildings in London. It has now come to light that the couple owes over €800 million, or £670 million, to banks throughout the ...

The latest UK unemployment figures have just been announced and yes, you guessed it, they are on the rise yet again. With local councils up and down the country also announcing, on a seemingly weekly basis, that they are also laying people off this could well be one heck of a tricky year. With so ...

The new year has brought with it a six to 13 percent increase in train fares across England. Popular commuting routes have been most heavily affected, with a Canterbury to London trip experiencing a 12.7 percent increase in season prices. There are several things that affected commuters can do to deal with the rising costs ...

Halifax, the largest mortgage lender in Britain, reported that average home prices fell to £162,435 during November 2010. This is a 1.3 percent decrease from October 2010 and a 1.6 percent decline from November 2009. Before 2011 is over, the typical price of a British home may drop by one-quarter, to £150,000. To blame for ...

With the new year comes the resolution to become more financially sound. Holiday overspending leads to renewed determination and a plan regarding financial stability. The government warns of a rocky road in 2011, with food, gas, and energy prices increasing and a real reduction in take-home wages. Consumers must make extra effort to shore up ...

The UK home is once again being viewed as a residence rather than an investment. Research shows that homeowners now remain in their properties longer than they have in the past. Compared to statistics from the start of the credit crisis, UK homeowners are spending double the length of time in their current homes before ...

A leading think-tank determined that during the first five months of 2011, Britons will spend each penny earned to pay taxes. Tax Freedom Day is the celebrated date when those in the country begin working to fund themselves rather than the tax man. In 2011, this day will be May 30, an extension from May ...