Cost of Living News
Stories on how broader economic changes can affect students and young adults — filtered for things that have a direct impact, such as food prices and rent inflation.
38 articles
British Heart Foundation shop closures
You might think charity shop closures are a minor issue, but for students looking for affordable second-hand shopping options, this could be a big deal. The British Heart Foundation is shutting down 150 shops across the UK. This move comes as the charity faces an exceptionally challenging trading environment.
Key takeaway: The British Heart Foundation's decision to close 150 charity shops will reduce second-hand shopping options for students on a budget.
Borrow household items for free with new library
The 'Library of Things' in Leamington offers a range of household items for borrowing, from tools and equipment to household essentials. This initiative aims to help people save money and reduce waste. The library is run by volunteers and is open to anyone in the community.
Key takeaway: You can now borrow household items for free in Leamington, saving you money on everyday essentials.
Rising fuel costs drive Indians to electric cars
The increasing cost of fuel in India is making electric cars a more attractive option for many buyers. This trend could have implications for the UK market, where fuel prices are also on the rise. Electric car sales are expected to grow in the coming years.
Key takeaway: The UK could see a similar surge in electric car sales if fuel prices continue to rise.
Lloyds IT glitch hits payments
If you're a Lloyds customer, you might have struggled to make payments today. An IT glitch affected Lloyds, Halifax, and Bank of Scotland apps, leaving thousands unable to send money. The bank has apologised and is working to resolve the issue.
Key takeaway: Check your account and contact Lloyds if you're having trouble making payments.
Water outage fail: what it means for students
A recent report found that South East Water failed to adequately communicate with customers during outages last winter, leaving tens of thousands without water. The company's communication was its greatest failing, with fewer than one in 10 customers satisfied with how the crisis was handled. This lack of communication has significant implications for students in the affected areas.
Key takeaway: South East Water's poor communication during outages last winter has left a bad taste in customers' mouths.
Summer essentials: what students really bought in May
Despite the rising cost of living, students are prioritising comfort and leisure purchases, with cooling bedroom fans and outdoor gear among their top buys. The heatwave has driven demand for products that help students enjoy the sunshine while staying cool. From camping gear to skincare, we explore the summer essentials that made the cut.
Key takeaway: Students are splashing out on summer essentials to beat the heat and enjoy the sunshine, with cooling fans and outdoor gear among their top purchases.
ScottishPower sends customer £8,400 energy bill by mistake
A ScottishPower customer received an incorrect energy bill for £8,400, which is nine times their normal annual payment. The company apologized and corrected the mistake. This incident highlights the importance of checking energy bills for errors.
Key takeaway: Energy bills can contain errors, and customers should always check their bills carefully.
Free meal cut hits community cafe users
The cafe has seen numbers rise from about 60 to more than 90, highlighting the growing issue of food poverty in the area. The increase comes as the cafe's free meal service has been discontinued. This rise in users is a clear indication of the struggles many face in affording basic necessities.
Key takeaway: The discontinuation of a free meal service at a community cafe in Boston has led to a surge in users, highlighting the growing issue of food poverty.
Retirement savings gap revealed
The amount needed for a comfortable retirement is higher than many people think, with experts warning that a significant gap in savings could lead to a financial 'cliff edge' for many Brits. This gap could have serious implications for students and young adults who are just starting to think about their retirement savings. The pensions industry body has called for increased awareness and action to address this issue.
Key takeaway: The financial 'cliff edge' in retirement could affect anyone who hasn't saved enough for a comfortable post-work life.
Water firm fined £1.8m over parasite outbreak
The £1.8m fine is a surprise given the water firm's claims of prioritising customer safety. The outbreak occurred in Devon, leaving many people affected. The incident highlights the importance of water safety.
Key takeaway: A water firm has been fined £1.8m for a parasite outbreak.
High salaries don't guarantee financial security
A recent study has found that people earning high salaries may still feel financially squeezed due to increased personal spending and higher taxes. This has significant implications for UK students and young adults. The study highlights that bigger salaries don't necessarily lead to financial security.
Key takeaway: Earning a high salary doesn't guarantee financial security due to increased spending and taxes.
DVLA revokes driving licence after voluntary surrender
A person with a spinal cord injury surrendered their driving licence to the DVLA, but instead of simply accepting the surrender, the agency revoked it. This has made it much harder for the person to get their licence back. They are now facing additional hurdles, including a medical driving assessment.
Key takeaway: The DVLA's decision to revoke a driving licence after voluntary surrender can cause significant difficulties in getting it back.