MONEY MORSELS
Mobile shopping
MORE than half of all online shopping sales are now done on a smartphone, according to research by the Interactive Media in Retail Group. It analysed UK retail sales between last November and this January and found that 51 per cent of them were made through handheld devices rather than on a computer or a laptop, up from 40 per cent a year before.
Risky car tactics
A FIFTH of parents are insuring their children’s cars in their names in order to reduce the cost of the policy, according to comparison website GoCompare. However, this practice, which is known in the industry as ‘fronting’, is illegal and could leave mum and dad with a criminal record.
Savings soar
THE state pension today makes up less than half of retired workers’ income because employees are saving more for their old age, according to the Office for National Statistics. By contrast, 40 years ago the payout made up two-thirds of a retiree’s income.
Funeral plans
SOME 183,500 funeral plans were taken out in 2015, an increase of almost a quarter on the year before. The average plan costs £3,550 and around 88,000 paid out last year, according to funeral plan provider Golden Charter.
Love hurts
PEOPLE aged between 50 and 59 are most likely to fall victim to an online dating scam, according to Action Fraud. They accounted for a quarter of the 2,700 online dating crimes reported last year and victims each lost an average of £10,000.
Mortgage boost
NATIONWIDE is making it easier for people who work into retirement to have a mortgage. It will now take into account any income that you earn on top of the state pension up until the age of 70.
Credit card cost
THE average interest rate on credit cards has hit an all-time high of 21.6 pc, according to research by data analysts Moneyfacts. Borrowers could save hundreds of pounds by moving their debt on to an interest-free balance transfer card. Halifax has a 40-month deal with a 2.85 per cent fee.
Pension sign-up
STAFF at large companies who opted out of a workplace pension are to be given another chance to sign up. Pension firm Aegon says if you did not join the scheme last time in 2012, you will have missed out on around £762 from your employer and the Government.
Pricey pets
AN INSURANCE tax hike has cost pet owners an average of £10.33 since its introduction in November. The Association of British Insurers is warning against further increases in this month’s Budget.