POUND NOTES
FRUGAL FRIENDS LEAVE BILL-PAYERS SHORT OF CASH, SURVEY FINDS
FOUR-IN-10 (40%) people have someone in their friendship group who doesn’t pay their share. The research, from mobile payments service Pingit, found more than half (54%) of people claim they have lent money to pals, never to see it again. On average, they’re down £74 over the past 12 months due to their friends.
SCHEME TO HELP BUILD SAVINGS POTS BEING TRIALLED AT WORK
WORKERS will be helped to build up a “rainy day” accessible pot of cash alongside their pension savings under a new initiative being trialled.
The “sidecar savings” trial is due to go live in some workplaces over the coming months, with workers starting to make contributions in 2019.
Timpson will be the first employer to roll the trial out within the organisation of over 5,600 workers. Employees do not have to take part and they will sign up if they want to.
The initiative has been launched by Nest Insight – the research arm of workplace pension scheme Nest.
HOUSEHOLDS ‘SITTING ON HIDDEN DEBT MOUNTAIN’
HOUSEHOLDS are potentially sitting on a £96 billion hidden debt mountain, with more than two-fifths of people owing sums which they have kept secret from their family, partner or friends, a government-backed body has found.
The Money Advice Service (MAS), which is urging people to talk about money, said the average hidden debt across the UK amounts to £4,164 per person.
It calculated that if the figures are projected across the UK adult population, the total hidden debt amount could be as high as £96 billion.
HAVE YOUR SAY ON NEW £50 BANK NOTE
PEOPLE have until December 14 2018 to say who they’d like to see on the Bank of England’s new £50 note.
The Bank wants it to feature someone who’s contributed to science and the chosen character will be announced in 2019.