Tagged: cost of living crisis

Younger UK Consumers Say Cost of Living Crisis Had Worse Impact on Lives than Pandemic – Survey

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

UK’s Nationwide Reveals Cash Usage Is Rising to Deal with Cost-of-Living Crisis by Budgeting with Physical Money

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

Living Paycheck to Paycheck Cuts Across All Income Brackets, with 75% of Consumers Earning Less than $50K Annually – Survey

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

US Consumers Deplete an Average of 67% of Savings Once Every 4 Years – LendingClub Report

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

UK Consumers Expected to Cut Bank on Holiday Spending Due to Cost of Living Crisis – Survey

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

Fintech SumUp Introduces 7AM Payouts in the UK

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

UK Financial Inclusion Report Examines Impact of a Cost of Living Credit Crunch, State of Personal and Household Finances

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

Rising Costs Mean “Going Green” Deprioritized by UK SMEs, Research Report Claims

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

Cost-of-Living Crisis Is Leading Consumer Adoption of Embedded Banking, Report Claims

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

Experiences Reign “Supreme” During Squeeze on Consumer Finances, According to Paysafe Research

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

UK Savers Prioritize their Pensions Amid Rising Cost of Living, PensionBee Analysis Reveals

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

Half of Australians to Switch Banks for Competitive Interest Rates, Backbase Research Claims

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

Rising Cost of Living Is Leading to Collaborative Growth Opportunities for SMBs, Freelancers, Survey Reveals

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

Cost of Living-linked Digital Currency Launches on Ethereum Scaling Solution, Arbitrum

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

Global Risks Report: Tensions Peak between Cost of Living Crisis, Sustainable Climate Action

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

Over 90% of Australians have Set Financial Goals for 2023, CommBank Research Reveals

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

Stackin, a Financial Wellbeing App, Reveals its Sign-Ups Increased as Consumers Need Help with Money Management

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

UK’s Landbay Reveals that House Price Growth Is Now Falling as Demand Slows Due to Cost-of-Living Crisis

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

Workers See Flexibility as Key to Dealing with Cost-of-Living Crisis, Sonovate Survey Reveals

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

Muhannad Ebwini: CEO at HyperPay Says Fintech Solutions Can Help Us Deal with Cost-of-Living Crisis

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

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