Financial news

• UK drivers complain as car insurance renewal costs rise up to 70%

  25-06-2023 17:58
  
  Latest financial pain in cost of living crisis comes from steep price increases for motor coverCar insurance is the latest household bill to go through the roof, with angry motorists complaining that prices are shooting up by as much as 70% when their policy comes up for renewal.While fuel prices have dropped back from 2022’s record highs the latest inflation bulletin from the Office for National Statistics (ONS) showed a new source of financial pain, with the price of car insurance up 43.
  
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• UK billpayers may pick up tab for green levies as energy price cap ends

  25-06-2023 14:01
  
  Minister hints at government uncertainty as Jacob Rees-Mogg warns against ‘sly’ reintroduction of chargesConsumers are in line to pay an extra £170 in green levies as the government’s energy price cap comes to an end for most billpayers.John Glen, the chief secretary to the Treasury, said on Sunday that ministers were considering what to do about the levies, which the government has paid since last year and are designed to fund schemes such as subsidised home insulation.
  
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• ‘There’s a lot of anger’: the mortgage trap ensnaring the Tories in their heartlands

  25-06-2023 11:00
  
  In Selby, site of a key byelection, hardship may be opening the door to Labour even in comfortable Conservative North YorkshireStevie Jackson was striding purposefully across Selby’s pretty marketplace on a warm Thursday lunchtime when she heard the news. As she stared down at her phone, her sunny disposition gave way to a look of anxiety. The Bank of England had just increased interest rates by another 0.5 percentage points, a record 13th consecutive rise and probably not the last.Jackson
  
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• Margaret Thatcher’s dream turns to dust: the days of easy home buying are over

  25-06-2023 11:00
  
  As mortgage rates rise, many Britons now see owning a home as a risky and unattractive prospectIn 1981 Margaret Thatcher told the Tory party conference “The family is the basic unit of our society and it is in the family that the next generation is nurtured”.The then prime minister added: “Our concern is to create a property-owning democracy and it is therefore a very human concern. It is a natural desire of Conservatives that every family should have a stake in society and tha
  
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• Child’s play: how to cut the cost of buying toys in the UK

  25-06-2023 11:00
  
  From old favourites such as charity shops to borrowing or renting, there are ways to save money
  The cost of living crisis is putting pressure on every aspect of household finances but children still need toys to play with. However, rather than buying new play sets and games, more and more parents are finding thriftier and more sustainable ways to keep their children entertained. Here’s how. Continue reading...
  
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• Finally some good news with state pension set for second inflation-busting hike next year

  25-06-2023 10:41 via express.co.uk
  
  Today's out-of-control inflation is inflicting pain on mortgage borrowers but state pensioners and savers are set to benefit.
  
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• 'Stop panicking!' BoE urged to calm down on interest rate hikes or trigger recession

  25-06-2023 09:24 via express.co.uk
  
  Economists are urging the Bank of England to pause interest rate hikes as they are now doing more harm than good.
  
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• Common mistake families make can mean 'significant and unexpected' inheritance tax bill

  25-06-2023 09:01 via express.co.uk
  
  Some people will make a will to take advantage of inheritance tax spousal exemption.
  
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• The defunct energy firms sending out life-wrecking bills from beyond the grave

  25-06-2023 09:00
  
  Former customers get demands for thousands from administrators – and have no clear way of challenging themThe life-changing bill came out of the blue. Jane Morrison-Ross was informed by a debt collection agency that she owed £10,260 to Together Energy, which ceased trading in February 2022. It gave no indication of what the charges were for.It turned out that she was being invoiced for the four years after she left the billing address. She submitted proof of her residency but to no a
  
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• Pensions warning as savings can lose thousands of pounds to ‘high’ inflation

  25-06-2023 09:00 via express.co.uk
  
  Pension savers should make sure they continue to contribute towards their retirement savings as even small amounts can go a long way, an expert told Express.co.uk in an exclusive interview.
  
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• Dave Ramsey explains how man, 66, with £23,500 saved can get by in retirement

  25-06-2023 08:01 via express.co.uk
  
  Dave Ramsey has answered a listener's question on how he can get by in retirement, despite having less than £30,000 in savings.
  
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• 'Takes away stress!' Nurse shares 'safety net' that helps her make over £400 a month

  25-06-2023 05:01 via express.co.uk
  
  As bills continue to rise for many, Britons are turning to side hustles as a way to generate extra income.
  
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