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How to prepare finances to cope with price rises
Derin Clark

Derin Clark

Online Reporter
Published: 14/10/2021

In just two weeks’ time Chancellor Rishi Sunak will unveil the autumn budget, which could see more tax increases for UK consumers.

Already households are facing rising inflation and increasing energy prices, with income tax payments set to increase in the spring and suggestions that council tax will also be increased. This means even those who were fortunate enough to not have to rely on savings, go into debt or take repayment holidays over the past 18 months will likely have to revaluate their finances to prepare for the price rises. Here we look at how consumers can prepare their personal finances for the next 12 months.

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What you need to know before travelling abroad this autumn

The removal of the amber travel list, along with the reduction of the number of PCR tests fully vaccinated adults need to take while travelling overseas, is helping to boost the autumn half term tourist season. There are reports this week that some travellers who have received chargeback refunds from Ryanair flights are not being allowed to fly with the airline unless they hand back their refunds. We look at what consumers’ travel and credit card rights are and how to prepare for an autumn half term trip.

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Best savings, mortgage and loan deals 07.10.21

Every week we highlight some of the best personal finance deals currently available. These deals are selected based on their competitive rates and features that benefit consumers. We’ll include a selection of market leaders as well as new products entering the market.

This is only a selection of the financial products available. Those looking for a new savings, mortgage, loan or credit card deal should use our charts to compare the best deals.

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Which energy suppliers have gone bust?

As the energy crisis continues a growing number of consumers are finding that their energy supplier is going out of business, and many more are finding their energy bills are rising. Here we look at which energy suppliers have gone bust and what options are available to consumers whose suppliers are no longer operating.

Since the start of August 2021, a total of 10 energy suppliers have gone out of business, including Avro, People’s Energy and Green impacting more than 1.5 million customers in total. Customers who have been affected are automatically being moved to a different supplier by the market regulator Ofgem.

Below we reveal which energy suppliers have gone out of business since 1 August 2021 and which supplier customers are being moved to.

 

Original supplier New supplier
Symbio E.ON Next
Igloo E.ON Next
Enstroga E.ON Next
Avro Octopus
Green Shell
People’s Energy British Gas
Utility Point EDF
PFP Energy British Gas
Moneyplus Energy British Gas
HUB Energy E.ON Next

 

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Contactless payment to increase to £100 next week

On Friday 15 October contactless payments will increase to £100 from the current limit of £45. Contactless payments have more than tripled in the space of 18 months, with shoppers having a limit of just £30 in March 2020, which increased to £45 in April 2020.

The roll-out of the new £100 limit will begin on 15 October, however it may take some retailers longer to update all their payment terminals. Commenting on the increase, David Postings, chief executive at UK Finance, said: “Contactless payment has proved very popular with consumers and an increasing number of transactions are being made using contactless technology. The increase in the limit to £100 will allow people to pay for higher value transactions like their weekly shop or filling up their car with fuel. The payments industry has worked hard to put in place the infrastructure to enable retailers to update their payments systems so they can start to offer their customers this new higher limit.”

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Moneyfacts Consumer Survey opens today - take part for a chance to win £1,000

4th October 2021

Millions of financial services customers across the UK can now vote and have their say about how they feel about the services and products they have experience with, as the annual Moneyfacts Consumer Survey opens today.

Millions of financial services customers across the UK can now vote and have their say about how they feel about the services and products they have experience with, as the annual Moneyfacts Consumer Survey opens today.

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Premium bond winners for October 2021 revealed

1st October 2021

The latest winners of the National Savings & Investments Premium Bonds have been announced this morning, with two lucky winners winning £1 million each. Both winners purchased their winning bonds early in 2021.

The October winners of the National Savings & Investments Premium Bonds have been announced this morning,

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Free plan to help consumers take charge of their finances

29th September 2021

MoneyHelper has launched a free Couch to Financial Fitness plan designed to help consumers get better control of their finances

MoneyHelper has launched a free Couch to Financial Fitness plan designed to help consumers get better control of their finances

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Fraud helpline set up for consumers

29th September 2021

A new fraud helpline has been set up to help consumers protect themselves against scammers

A new fraud helpline has been set up to help consumers protect themselves against scammers

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What you need to know before travelling abroad this autumn

13th October 2021

The removal of the amber travel list, along with the reduction of the number of PCR tests fully vaccinated adults need to take while travelling overseas

The removal of the amber travel list, along with the reduction of the number of PCR tests fully vaccinated adults need to take while travelling overseas

Read More
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How to prepare finances to cope with price rises

14th October 2021

In just two weeks’ time Chancellor Rishi Sunak will unveil the autumn budget, which could see more tax increases for UK consumers

In just two weeks’ time Chancellor Rishi Sunak will unveil the autumn budget, which could see more tax increases for UK consumers

Read More
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Premium bond winners for October 2021 revealed

1st October 2021

The latest winners of the National Savings & Investments Premium Bonds have been announced this morning, with two lucky winners winning £1 million each. Both winners purchased their winning bonds early in 2021.

The October winners of the National Savings & Investments Premium Bonds have been announced this morning,

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Which energy suppliers have gone bust?

7th October 2021

As the energy crisis continues a growing number of consumers are finding that their energy supplier is going out of business

As the energy crisis continues a growing number of consumers are finding that their energy supplier is going out of business

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