Moneyblog

There’s more doom and gloom for households today as new figures reveal the first decline in real earnings since September 2014. According to the Office for National Statistics (ONS), earnings growth slowed in the three months to March, at 2.1 per cent, compared to previous data which showed wages, excluding bonuses, grew at 2.2 per cent. This compares to inflation which jumped to 2.7 per cent in April. Meanwhile, the unemployment rate dropped to 4.6 per cent in the three months to March, and is now at its lowest rate since 1975. It was previously 4.7 per cent. It means that 1.54 million people are currently unemployed. While some analysts say that the

Ah, Chelsea. Or in my case, ah, Tatton. It’s that time of year again when the Royal Horticultural Society revs up for its slew of annual flower shows, allowing us green-fingered enthusiasts the chance to seek out the lesser-spotted Titchmarsh and the perennially pleasing Monty Don. It’s also a good time to do an inventory of our own gardens, not least the garden shed. You might not know it, but that building at the bottom of the lawn could be harbouring a shed-load of uninsured valuables. While a fair few sheds are home to nothing more than old pots, bits of string and rusty shovels, many are full of items that thieves

All publicity is good publicity, right? Wrong. The United Airlines controversy last month showed just how quickly poor crisis management can decimate company shares. And we financial journalists know as soon as we mention our job titles when making a customer complaint, we usually receive a positive outcome, such is the corporate terror triggered by a whiff of bad press. But now the internet is making it possible for anyone to kick up a stink in a most public fashion. Recent research from comparison site Gocompare found that UK companies have paid out £65 million in compensation to customers who took to social media to complain about services and products.

I am immensely cheered by the news that one of the worst perpetrators of cold calling has been fined a record amount for making almost 100 million nuisance calls. The Information Commissioner’s Office (ICO) has issued its highest ever penalty of £400,000 to Keurboom Communications after more than 1,000 people complained about recorded – also known as automated – calls. The calls, made over an 18 month period, related to a wide range of subjects, including all the old chestnuts of road traffic accident claims and PPI compensation. Some people received repeat calls, sometimes on the same day and during unsociable hours. The company also hid its identity, making it harder

As I watched the water creep across the kitchen floor, powerless to prevent a mini tsunami, I had an inkling of how it must feel to be the victim of flooding or burst pipes. By the third time the water invaded my kitchen, I was at the end of my tether. It later transpired that the base of my washing machine had broken in two (apparently not an uncommon occurrence) hence the folly of replacing the washers and hoping for the best. While this was a problem fixable with a mop, a packet of kitchen roll and a new appliance, it brought to mind the multitude of horror stories told

Aaron Lennon. Prince Harry. Jayne-Anne Gadhia, chief executive of Virgin Money. Each of these high profile people’s mental health has been in the spotlight in recent weeks and, thankfully, most of the public response has been sympathetic. But each has also faced a dark undercurrent of criticism that they’re not entitled to struggle with their mental health because they’re rich. The most prominent example was the coverage of footballer Aaron Lennon’s detention under the Mental Health Act. Some newspapers thought it fair to headline on his £55,000-a-week income, as if this ought to have made him immune to mental illness. But it wasn’t just the news media who told this

For every hard-working individual who has built up a pension pot to fund their retirement, there is a criminal trying to scam their way into stealing some of it for themselves. Pension funds are often the second largest source of wealth behind home purchases and, as a result, are a tempting target. Sadly, scams are not new to pensions. These are two of the most common forms. Pension liberation The victim is under the minimum age at which benefits can be drawn legitimately (age 55) and is promised access to their funds early, albeit subject to hefty charges. Investment scam The unsuspecting target is persuaded that current, legitimate, regulated pensions

I still feel bad about the beggar I ignored years ago. Fear of being mugged while fumbling for money has often kept me walking past beggars. But on that occasion I felt safe since I was with friends. Wimpishly, I took my cue from them. Later we compared notes – we’d all felt a strong urge to give. Some of us never give, others always do, and, some like me, agonise, summoning instinct to make snap decisions, then fretting we’ve made the wrong ones. Lately, I’ve been wondering if I should always walk on by, though reasons to give freely tug at my heartstrings. Contrary to urban myth, those asking

Exceptions aside, Spectator readers are not consumers of luxury for luxury’s sake. They are unassuming keepers of style, guardians of distinction – and firm of belief that any claim to sophistication demands a renunciation of bling. In fact, I can only assume that this is being read by a pious confederacy of cashmere-clad clones. You may recall the early noughties. It was a halcyon age. Everyone was flush with cash and casual credit was king. We were at our most acquisitive and if there was money to be spent, it was invariably on one thing – the obsession of the era, the latest ‘It Bag’. Just thinking about it turns

As lenders’ names go, The Bank of Mum and Dad is rather appealing. There’s instant brand awareness, the prospect of small or non-existent interest rates, and the likelihood that financial negotiations will end with a hug and a few happy tears. I’m a member of this institution. When I moved back up North following 14 years in London, I found the perfect house outside of Manchester. But I couldn’t sell my flat in the capital and was leaking money left, right and centre. A bridging loan was out of the question, as was anything resembling a deposit. So my Dad stepped in, loaned me a sizeable sum, and it all