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The Latest Breaking News from abrdn Financial Fairness Trust

Wealth gap between younger and older households has shrunk – report

Much of the ‘wealth boom’ remains to be passed on down the generations in the form of inheritances and gifts, the Resolution Foundation said.

Evening Standard

Martin Lewis says town halls behaving like 'loan sharks' over missed council tax payments

Millions of people in the UK could have fallen into a council tax "trap", research indicated

Evening Standard

Martin Lewis launches attack on local councils: ‘Like loan sharks’

One woman received a letter on Christmas Eve saying that she needed to pay her council tax bill by Christmas Day

The Independent UK

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The UK’s coastal ‘ghost enclaves’ are the result of government failure on low-use homes

The UK has long been in the middle of a housing crisis. And yet, across the country, the number of low-use homes is growing.

The Conversation

UK middle classes ‘struggling despite incomes of up to £60,000 a year’

Insecure jobs and high housing costs make it hard to maintain decent living standard, says abrdn Financial Fairness Trust

The Guardian - UK

Young people’s reluctance to talk about money is putting them at risk – here’s how to help them

Credit is an everyday, and often essential, part of young people’s lives. Gaining access to credit for the first time is an important transition to adulthood that can enable you to study, earn and invest in your future.

The Conversation

Younger people could emerge as winners from rising interest rates – report

A ‘new normal’ of higher rates could end a wealth boom driving intergenerational inequality, the Resolution Foundation said.

The Independent UK

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2million of us now skip meals three times a month because of cost of living

9.6million people are living in homes in 'serious financial difficulties'

Wales Online

Future looks ‘risky at best for many workers hoping for comfortable retirement’

A fresh look at the UK’s retirement saving environment is long overdue, according to the IFS, which has launched a pensions review.

The Independent UK

Scottish households 'have lower financial wellbeing than the rest of the UK'

Latest research reveals a quarter of Scots find it a ‘constant struggle’ to meet their bills

Insider UK

Scottish women at greater risk of destitution amid cost-of-living crisis, report says

A NEW report has found shocking evidence that women in Scotland are suffering increasing hardship, destitution, and food insecurity due to a lack of…

The National (Scotland)

Simple change to Universal Credit savings rule could help more older people access benefits

An increase to the £16,000 savings limit could help people over 50 during the cost of living crisis.

Daily Record

People living with dementia ‘sitting ducks for financial abuse’

Report shows failures by government, financial services and retailers to protect people with dementia from scammers

The Guardian - UK

Disabled people are already cutting back on costs more than others – for many, the £150 cost of living payment won't do much to help

Even before the current cost of living crisis, disabled people were much more likely than non-disabled people to be in poverty and living on inadequate incomes. Now, spiralling living costs are adding to years of financial disadvantage. Our new analysis of YouGov survey data starkly illustrates the situation, showing that…

The Conversation

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Daily Record

DWP urged to change Universal Credit eligibility rules to help more people over 50 access benefits

A new report suggests an increase to the £16,000 savings limit could help people over 50 during the cost of living crisis.

The Independent UK

‘Serious leaks’ in households’ finances remain, despite new energy price cap

Households still face a long, hard winter, despite the new energy cap being set at £2,500, experts warned.

Daily Record

Households with a disabled person twice as likely to be struggling with cost of living crisis

New research suggests 66% of disabled households have avoided turning on the heating to save money.

The Independent UK

‘Severe impact’ of rising living costs on disabled households highlighted

Two-thirds of households containing people with disabilities have avoided turning on the heating, abrdn Financial Fairness Trust said.

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Daily Record

Testing Marks and Spencer's £25 budget menu that claims to feed a family for a week

The menu, which was created by Marks & Spencer and TV chef Tom Kerridge, was branded 'remarkable'.

Daily Record

DWP urged to change Universal Credit eligibility rules to help more older people access means-tested benefits

A new report suggests an increase to the £16,000 savings limit could help people over 50 during the cost of living crisis.

The Independent UK

Wealth gap between richest and those in middle is highest on record – think tank

Life’s milestones such as saving and getting on the property ladder are increasingly out of reach for some people, the Resolution Foundation said.

Daily Record

Millions of people selling possessions and buying lower-quality food due to cost of living crisis

Soaring energy bills and supermarket prices are hitting some groups harder than others.

Wales Online

4.4million homes buy lower-quality food, wash less and sell possessions

Major reports finds exactly what drastic steps people have taken to try to survive the costs of living crisis

The Guardian - UK

‘Worse than the pandemic’: price rises push more people into financial trouble

Study shows poorest hit hardest as 1.6m more UK households are struggling compared with late 2021

The Independent UK

Third of people saving for a home have cut back or stopped doing so – survey

The TSB found rising living costs are forcing people to rethink savings goals.

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