Money Matters

Money Matters

The latest updates and advice from the finance and business markets

PEER PRESSURE ‘ADDS NEARLY £900 A YEAR TYPICALLY TO BILLS’
Parents who cave in to pressure from their children to buy them the latest ‘must have’ item so they can keep up with their peers, estimate this adds nearly £900 to their annual household spending typically, a survey has found.

The research from Sainsbury’s Bank looked at the extent to which parents feel under pressure to buy their children expensive items, invest in hobbies or throw big parties so they can have the same as their children’s friends and acquaintances.

Technology, such as phones and tablets, is the main driver of pressure on parents, with 44% of parents feeling under pressure to buy their children the latest gadgets, the research among more than 2,000 people found.

WOULD-BE PARENTS ‘DELAY FAMILY PLANS DUE TO MONEY WORRIES’
Money worries are forcing many would-be parents to delay plans to start a family for three years or longer, a report has found.

Some 45% of 25 to 34-year-olds, who plan to have children, said they will put off starting a family for at least three years.

Half of these people were delaying starting a family for this length of time due to money worries, making this the top concern according to the research from the Centre for the Modern Family, a think-tank set up by Scottish Widows.

SIGNS OF CONFIDENCE RETURNING TO HOUSING MARKET, SURVEYORS FIND
There are signs of confidence returning after a ‘wobble’ following the vote to leave the EU – surveyors have found. A net balance of 5% of surveyors reported house prices rising rather than falling last month, according to the Royal Institution of Chartered Surveyors (Rics), marking the lowest reading in three years.

But Rics also says comments from some agents “suggest activity has picked up after an initial wobble, while others cite the Brexit vote as having only a modest or even negligible impact thus far”.

NEARLY TWO-FIFTHS OF BRITONS ‘STRUGGLE TO PAYDAY’
Women are more likely than men to cut their spending if their financial situation hits a crisis, a survey suggests.

Asked how they would cope with a hole in their money situation, 60% of women would tighten the purse strings, while 55% of men would cut back on their spending.

The survey of more than 2,000 people was carried out for insolvency trade body R3.

Across the survey, 39% of Britons admit they often or sometimes struggle to make it to payday.