Tagged: cost of living crisis

January 30, 2024 @ 7:47 am By Omar Faridi  |  

The Prince’s Trust NatWest Youth Index 2024, released recently, finds half (49 per cent) of 16–25-year-olds in the UK think the cost of living crisis has had a worse impact on their life than the pandemic. As noted by the Natwest Group, it shows young… Read More

January 6, 2024 @ 10:28 am By Omar Faridi  |  

New data from Nationwide shows that cash usage continues “to rise as many households respond to the cost-of-living crisis by budgeting with physical money.” That data also shows where the building society is “the last remaining branch in town, the growth in usage is at… Read More

December 1, 2023 @ 4:11 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released key findings from the 26th edition of the Reality Check: Paycheck-To-Paycheck research series. The Seasonal Financial Distress Deep Dive Edition “examines the impact of seasonal spending on consumers’ ability to… Read More

October 31, 2023 @ 9:40 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, released key findings from the 27th edition of the Reality Check: Paycheck-To-Paycheck research series. The Savings Deep Dive Edition “examines consumers’ ability to preserve their savings in the current economic… Read More

October 23, 2023 @ 10:43 pm By Omar Faridi  |  

The scale of Christmas / holiday spending cutbacks due to the cost of living is highlighted in new research from KPMG UK – which shows consumer intention “to cut back on buying gifts, groceries and socializing.” Over 2600 UK consumers were surveyed for KPMG –… Read More

September 22, 2023 @ 6:06 am By Omar Faridi  |  

Global fintech SumUp has launched 7AM payouts in the UK, a feature giving merchants near-instant access to their money. As the UK cost of living crisis persists, SumUp has responded by “working with merchants to ensure they get their money faster, to help manage cash… Read More

September 4, 2023 @ 9:17 am By Omar Faridi  |  

Plend‘s ‘Financial Inclusion Report notes that the impact of a cost of living credit crunch’ is far-reaching. The update touches on the effects of “the cost of living crisis, personal and household finances, and the resulting impacts on access to financial services in the UK.”… Read More

August 28, 2023 @ 11:04 pm By Omar Faridi  |  

The increased cost of doing business is “preventing the UK’s 5.5m small and medium-sized businesses from going green,” new research finds. With core inflation rates at 6.8% – the highest in 31 years – protracted high costs could be delaying SME owners’ plans “to green… Read More

June 25, 2023 @ 12:35 pm By Omar Faridi  |  

Research from Vodeno/Aion Bank has recently revealed just how embedded banking adoption is “significantly boosting brand loyalty for companies, with consumers more likely to use embedded banking products from brands as a result of the cost-of-living crisis.” The European Banking-as-a-Service (BaaS) provider’s study “revealed that… Read More

June 4, 2023 @ 11:12 am By Omar Faridi  |  

Consumer demand for travel, leisure and other experiences remains strong despite the increase in cost of living according to Paysafe (NYSE: PSFE) research. The payments platform found “that 51% of consumers are still prioritising spend in these areas over other discretionary spending.” The research also… Read More

May 21, 2023 @ 9:18 am By Omar Faridi  |  

Analysis from online pension provider, PensionBee, reveals that pension savers put significantly more money “aside for their retirement at the start of 2023 than they did in the latter part of 2022, despite persistent levels of high inflation.” The average quarterly contribution amount “for female… Read More

May 2, 2023 @ 7:30 pm By Omar Faridi  |  

Backbase, which claims to be the global leader in Engagement Banking, has released a new report titled, “Banking Disruption: Australians’ Shift in Focus towards Credit Unions, Mutuals and Second Tier Banks”, which highlights the ways Australians are engaging with the top 10 banks online and… Read More

March 30, 2023 @ 11:22 am By Omar Faridi  |  

New research from Payoneer (NASDAQ: PAYO) shows almost half (46%) of surveyed freelancers around the world “have seen an increase in demand for their work from global businesses compared to 2021, and over half (55%) have taken on more work in response to the rising… Read More

February 4, 2023 @ 5:37 pm By Omar Faridi  |  

The Nuon Protocol has announced the launch of its mainnet for the NUON flatcoin: the world’s “first” cryptocurrency “linked to an unbiased cost of living index.” Decentralized and overcollateralized, Nuon will “go live on the leading Ethereum scaling solution, Arbitrum.” The concept of a flatcoin “has… Read More

January 16, 2023 @ 7:25 pm By Omar Faridi  |  

For the past 17 years the World Economic Forum’s Global Risks Report has warned about “deeply interconnected” global risks. Conflict and geo-economic tensions have “triggered a series of deeply interconnected global risks,” according to the World Economic Forum’s Global Risks Report 2023. These include energy… Read More

January 4, 2023 @ 9:08 pm By Omar Faridi  |  

As new CommBank research reveals top financial New Year’s resolutions for Australians, CBA’s Chief Behavioral Scientist explains “some practical strategies to help achieve New Year’s goals.” With cost of living pressures top of mind, new consumer research released by Commonwealth Bank reveals Australians are “looking… Read More

December 29, 2022 @ 2:05 pm By Omar Faridi  |  

As searches for financial wellness skyrocket, financial therapist Megan Ford offers advice to consumers on how to look after their mental health – and their money With the news covering inflation, recession and the cost of living crisis more, it’s no wonder Americans are “feeling… Read More

December 26, 2022 @ 11:47 am By Omar Faridi  |  

The team at Landbay notes that 2022 started with rising inflation and the Bank of England base rate “followed suit with interest rate increases.” That scenario has “continued throughout the year with steeper rises than many had predicted.” Inflation is “at a 40-year high of… Read More

December 21, 2022 @ 8:07 pm By Omar Faridi  |  

Flexible working practices are “key” to helping workers weather the cost-of-living crisis, especially older people who now find themselves “unable to afford to retire.” according to an update from Sonovate. Based on a survey of 4,500 people and 500 business owners, Sonovate’s ‘Future World of… Read More

November 12, 2022 @ 3:18 pm By Omar Faridi  |  

Globally, rising inflation, a higher cost of living, and slower wage growth are impacting the lives of people right around the world. A recent report suggested that many consumers are turning to physical cash to help manage their finances amid the cost-of-living crisis. But Muhannad… Read More