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Finance

‘So stressed!’ PIP claimant ‘left with no money’ after energy bills more than tripled

Graham lives in the UK, but cannot work due to several health conditions and so receives both PIP and Universal Credit. Living alone, he struggled to afford his energy bills which were £50 a month. However, now these have more than tripled, and he is extremely worried about how he will cope.  Graham told Citizens […]

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Finance

‘It’s amazing!’ Woman, 64, explains how she makes extra £800 per month

Starting a side hustle is an increasingly popular endeavour, with more people taking on an extra job to make more cash than ever before. Research suggests having a side hustle can increase peoples’ incomes by 20 percent on average, and bolster the economy. Appearing on ITV’s Tonight programme, one woman described how she has been […]

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Finance

TSB savers get ‘another boost’ as bank hikes interest rate to 1.25% on popular account

To open the account, people must be 18 or over and a UK resident. They will need proof of ID documents such as a driver’s licence or UK passport. Additionally, they will require proof of address which could come in the form of a utility bill or bank statement. The rate of 1.25 percent on […]

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Finance

‘Little-known’ pension tax rules could see you save on ‘punitive’ 25% tax charge

Many pension savers will have put aside money for years in order to reap the rewards of their diligent saving later down the line. As such, a devastating outcome is additional tax payments, which individuals will be keen to avoid. Even if a person has retired, they are not out of the woods when it […]

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Finance

Rishi Sunak’s ‘admirably audacious’ move means Britons reckon with ‘increased tax burden’

The Chancellor of the Exchequer only recently announced millions of people will see their National Insurance bills cut due to a threshold change. From July 6 onwards, the threshold at which people start paying the tax is being raised to £12,570. It was a decision which has been widely welcomed, however, some experts have suggested all may […]

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Finance

Tesco Clubcard warning as your vouchers may soon expire – the key date to bear in mind

Millions of people across the country hold a Tesco Clubcard, a loyalty card which the supermarket states helps people to “get the very best value”. With exclusive deals and discounts, the card continues to be as popular as ever. However, there is a very important looming deadline which Clubcard holders will need to bear in […]

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Finance

‘Is it fair?’ Pensioner ‘millionaires’ rise to 3 million – triple lock increase questioned

New analysis of Government data has shown the rising number of wealthy over 65s throughout the UK. In 2008/2010, there were 846,000 over 65s recorded as living in households with over £1million in housing and pension assets. However, just a decade on, and this picture has drastically transformed. Now, there are a total of 3,137,000 […]

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Finance

TV licence fee shake-up plans could see property-rich pensioners ‘pay more for licence’

The TV Licence may be changed in the future, with Culture Secretary Nadine Dorries describing the fee as “discriminatory”. She also appeared recently on LBC, and discussed the potential alternatives to chart a path forward. Ms Dorries told the radio station the Government would be considering a number of options, and added: “Germany doesn’t have […]

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Finance

DWP update as £326 cost of living payment date confirmed – when will you get yours?

The Government states nearly one in four families will be eligible for this payment. In total, millions across the UK are to receive at least £1,200 this year to help with rising costs.  Mr Sunak also commented on the latest update, and said: “I know that people are worried about rising prices, which is why […]

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Finance

‘Think twice!’ Pension savers at risk of damaging retirement by £15,000 – take action

Wage stagnation and rising living costs are set to wreak havoc on those saving for retirement, according to a new study. It means an average earner in their thirties is now on track to see their pot reduce by £15,000 by the time they retire. Scottish Widows has shown increasing financial pressures are worrying Britons, […]