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

News archive

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

31/08/2012 12:52:54

Can't afford to move? Redecorate

New research reveals an increasing number of home owners are turning their hand to DIY because they cannot afford to move.

On bank holidays this year, Britons spent £763,000 on DIY and home improvement, according to research by Quidco.

The costs faced by so-called 'second steppers' looking to move out of their first home are currently at their second highest on record, according to Lloyds TSB.

This represents an increase of £277,000 on last year, with spend on decoration up a sizeable 365 per cent in this period.

Britons are also trying to make savings by utilising their gardens, with nearly a quarter growing their own vegetables to reduce the amount they are forking out at the supermarket.

Commenting on the findings, Andy Oldham, managing director at Quidco, had the following financial advice: "Home improvement and DIY offers a great option for those looking for a change, but unable to stump up the cash required for a big move."

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