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- Adult children 'sponge savings off parents' - 25th February, 2009
Adult children are continuing to deplete their parents' savings despite the ongoing economic downturn, according to research conducted by Scottish Widows.
The pension provider found that more than half of parents with grown-up children have given or loaned their children a "substantial" sum of money - averaging £11,776- an amount which has increased by eight per cent since last year... - AA Personal Loans: Second-hand cars becoming more popular - 19th February, 2009
AA Personal Loans has conducted research which reveals that many people taking out car purchase loans in the UK are using them to buy second-hand cars rather than choosing brand new models.
The loans provider found that the average value of a car purchase loan has not increased since March last year, but 62 per cent of customers are now choosing to spend their personal loans on second-hand or ex-demonstration vehicles... - Citizens Advice to get extra funding - 17th February, 2009
Citizens Advice is to be given £10 million in extra funding in order to help it deal with the increased demand for debt counselling and unemployment advice caused by the recession.
The charity claims that it has seen a "large" increase in the number of enquiries linked to the economic downturn, handling 5.54 million requests for advice about issues such as mortgage arrears and benefits claims last year... - Government gives businesses cash-flow boost - 13th February, 2009
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Her Majesty's Revenue and Customs (HMRC) has announced that a government scheme to help businesses meet their tax payments has resulted in a cash-flow boost for companies in the UK.
The scheme, known as the business payments support scheme, has saved UK businesses more than £1 billion in total by providing a fast-track service which enables businesses to ask for more time to pay taxes they cannot afford... - Building society offers romantic tips for recession-hit Romeos - 12th February, 2009
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Cheshire Building Society has published a list of top tips for lovers looking to save cash without losing the romantic feel of Valentine's Day.
The building society, which provides cheap loans and buy to let mortgages, suggested cooking at home as opposed to going out to a restaurant, or exploring one of the many free art galleries or museums dotted around the country... - Recession 'causes couples to argue' - 11th February, 2009
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The recession has caused an increase in arguments between couples, a new survey has found.
PayPal, which conducted the poll, found that 32 per cent of couples in the UK admitted to having more arguments this year than last year. The extra arguments are mainly about money and household chores... - Lloyds TSB: Consumers increasingly predicting interest rate rises - 10th February, 2009
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Lloyds TSB has conducted a survey which reveals that a growing number of UK shoppers are preparing themselves for higher interest rates before the end of the year.
The bank's commercial division found that 24 per cent of those it polled in January are preparing themselves for higher interest rates, compared to 20 per cent who said the same in December.
Higher interest rates could be good news for consumers with money stashed in savings accounts, although they might affect the availability of cheap loans and buy to let mortgages... - Bank of England makes further rate cut - 6th February, 2009
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The Bank of England's monetary policy committee announced a further reduction to the base rate of interest yesterday.
This latest cut of 0.5 per cent brings the base rate of interest to one per cent, following previous reductions in November, December and January... - Base rate cut may not be enough, says expert - 6th February, 2009
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A financial expert has claimed that the Bank of England should begin looking at the other options available to stimulate the economy as yesterday's base rate cut may not be enough.
Trevor Williams, an analyst for Lloyds TSB, said that the impact of the base rate on the UK economy has been "almost entirely diminished" adding that the underlying economic woes "will not disappear overnight"... - Bob Dylan to advertise Co-operative Bank - 2nd February, 2009
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Bob Dylan, the folk-rock singer and anti-establishment icon, has given permission for one of his best-known songs to be used in an advertising campaign for the Co-operative Bank.
The bank, which bases its provision of cheap loans, buy to let mortgages and savings accounts on a strict ethical screening policy, has been granted permission to use the singer's 1963 classic Blowin' in the Wind...