Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

20/08/2012 14:37:08

Bills Freedom Day celebrated

Today (August 20th) has been declared Bills Freedom Day after research revealed that it takes from January until this date each year for the average person to earn wages equivalent to their annual tax and housing expenses.

Bright Grey says this is equivalent to 150 days working for the state, 55 days working to pay for your home and 28 days working to pay off bills.

Despite this, Britons also spend almost ten days working to earn money to fund nights out - more than double what is dedicated to life, income protection and critical illness cover.

In response to these findings, Roger Edwards, managing director of Bright Grey, had the following financial advice: "Given that we have to work so long to cover the basic living costs it is worrying that we are willing to lavish ten days of our salary on going out and entertaining.

"We urge Britons to review their finances and really think about what they spend their money on so they can prioritise safeguarding their futures."

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