Market Research RSS Feedshttp://www.djsresearch.co.ukMarket Research RSS FeedsSat, 26 May 2018 13:05:23 BST Pensioners have an average of £3,500 in credit card debts, survey reveals Pensioners have an average of £3,500 in credit card debts: Debts are mounting for British pensioners as they turn to credit cards to pay unexpected bills, a survey has found. The research, on behalf of equity release provider, Key Retirement, also found that almost 20 per cent of retirees are struggling to pay the debt back. Unanticipated bills were found to be a major cause of credit card debt, with 18 per cent saying this was the reason they had to go into the red. The most common reason for credit card spending was for car repairs with just under half of respondents (49%) having to turn to their plastic to pay the bill. Other reasons were cited as home repairs (39%) and helping their children out financially (19%). While the average balance owed was £3,500, this figure was greater in the West Midlands where debts amounted to £4,700. Pensioners in the north west and north east amassed slightly less at £3,900. Paying back the money The survey also found that of all the retirees spending on credit cards, 61 per cent believe they will be able to settle the debts quickly, while 29 per cent anticipate that time frame will be closer to five years. Six per cent of respondents are unsure if they will ever be able to repay the money owed. Dean Mirfin of Key Retirement said: "It is not possible to plan for everything and sometimes an unexpected bill will mean having to rely on credit cards to fund it. "The problem then compounds itself if people cannot clear the balance and get caught by another surprise bill. 'Unfortunately, it all adds up, which means a serious financial burden in retirement. People need to get help and look at all their assets which should include their property if they are a homeowner.' http://www.djsresearch.co.uk/blog/article/Pensioners-have-an-average-of-3500-in-credit-card-debts-survey-reveals-04173 http://www.djsresearch.co.uk/blog/article/Pensioners-have-an-average-of-3500-in-credit-card-debts-survey-reveals-04173 People facing retirement still supporting family members, survey finds A survey by financial services provider, Prudential, found that almost a third (31%) of people planning to retire this year are still supporting family members financially. The poll found that while children are the most likely to be given financial support from parents, grandchildren and even older generations are also being helped ' with an average spend of £4,320 a year. Just under a quarter (23%) of those expecting to retire in 2018 help their families with university tuition fees and money towards living expenses. Others (22%) are helping children with a financial boost to help them buy their first home. Monthly spending Soon-to-be retirees predict they will pay out around £360 per month to family members, with 19 per cent putting that figure at over £500 ' money that 27 per cent of respondents say goes towards travel expenses and other living costs such as food. The average number of family members being supported by those planning to retire this year is three, the poll of 1,000 found. 'Increasing financial pressure faced by people of all ages, such as the cost of university education and the rising cost of buying a home, means that providing financial support to family members continues well in to retirement,' said Stan Russell, a Prudential retirement income expert. 'While it's understandable so many people want to financially support family members, it is important to make sure they have enough money set aside themselves to cover their own living costs and don't put their retirement at risk,' he added. http://www.djsresearch.co.uk/blog/article/People-facing-retirement-still-supporting-family-members-survey-finds-04171 http://www.djsresearch.co.uk/blog/article/People-facing-retirement-still-supporting-family-members-survey-finds-04171 Half of self-employed ‘seriously concerned’ about pension Half of self-employed 'seriously concerned' about pension: Concerns over lack of savings is a big worry for just under half of self-employed people, a survey has revealed. Forty-six per cent of self-employed respondents who took part in the poll of 1,000 are 'seriously concerned' about their retirement savings, with 38% 'seriously concerned' with their current pension savings. Those questioned in the survey also took part in focus groups across the UK conducted by cross-party think-tank, Demos, supported by the Independent Professionals and the Self Employed (IPSE). Happy in self-employment despite pension concerns It found that despite being worried over pension forecasts, eight in ten were happy with being self-employed, with seven out of ten having no plans to leave their current working situation. Alan Lockey, head of Demos' Modern Economy Programme, said: "The rise of self-employment is one of the biggest changes to the modern economy in the last couple of decades. "We need to think pragmatically about whether we should actively encourage it ' it could be that it is the British solution for a more flexible, less rigid approach to life and work in the future, as it already is for millions of people. "That means we need a new deal to boost security for the self-employed and by far the most urgent problem is dealing with a looming pensions and savings crisis." http://www.djsresearch.co.uk/blog/article/Half-of-self-employed-seriously-concerned-about-pension-04172 http://www.djsresearch.co.uk/blog/article/Half-of-self-employed-seriously-concerned-about-pension-04172 Brits are cracking down on their personal finances, according to recent survey http://www.djsresearch.co.uk/blog/article/Brits-are-cracking-down-on-their-personal-finances-according-to-recent-survey-04132 http://www.djsresearch.co.uk/blog/article/Brits-are-cracking-down-on-their-personal-finances-according-to-recent-survey-04132 Recent survey shows that young women are more likely to struggle financially http://www.djsresearch.co.uk/blog/article/Recent-survey-shows-that-young-women-are-more-likely-to-struggle-financially-03884 http://www.djsresearch.co.uk/blog/article/Recent-survey-shows-that-young-women-are-more-likely-to-struggle-financially-03884 Survey reveals finance jobs to be moved out of Britain as a result of Brexit http://www.djsresearch.co.uk/blog/article/Survey-reveals-finance-jobs-to-be-moved-out-of-Britain-as-a-result-of-Brexit-03847 http://www.djsresearch.co.uk/blog/article/Survey-reveals-finance-jobs-to-be-moved-out-of-Britain-as-a-result-of-Brexit-03847 Workforce survey reveals how employment legislation has increased business costs http://www.djsresearch.co.uk/blog/article/Workforce-survey-reveals-how-employment-legislation-has-increased-business-costs-03810 http://www.djsresearch.co.uk/blog/article/Workforce-survey-reveals-how-employment-legislation-has-increased-business-costs-03810 Insurance sector behind in customer service, suggests poll Insurance sector behind in customer service, suggests poll: New findings from a survey of 1,025 UK adults, conducted in June 2017, suggests that the insurance sector is now the fourth worst sector in terms of customer service quality. This contrasts starkly with the banking sector which, in part due to an improved mobile and digital offering, has improved results from the previous year. http://www.djsresearch.co.uk/blog/article/Insurance-sector-behind-in-customer-service-suggests-poll-03776 http://www.djsresearch.co.uk/blog/article/Insurance-sector-behind-in-customer-service-suggests-poll-03776 Survey finds financial service providers are more optimistic Survey finds financial service providers are more optimistic: According to the most recent CBI/PWC Financial Services Survey, optimism in the financial services industry has become more positive following four consecutive quarters of decreasing positivity. http://www.djsresearch.co.uk/blog/article/Survey-finds-financial-service-providers-are-more-optimistic-03607 http://www.djsresearch.co.uk/blog/article/Survey-finds-financial-service-providers-are-more-optimistic-03607 Small businesses not prepared for tax digitalisation, survey finds Small businesses not prepared for tax digitalisation, survey finds: A recent financial services survey by the leading membership association of independent chartered accountancy and law fims, UK200Group, has revealed that 65 per cent of its members' SME clients are not using software to manage their accounts at the moment. http://www.djsresearch.co.uk/blog/article/Small-businesses-not-prepared-for-tax-digitalisation-survey-finds-03547 http://www.djsresearch.co.uk/blog/article/Small-businesses-not-prepared-for-tax-digitalisation-survey-finds-03547 Survey finds Brits’ bad money saving habits affecting Christmas budget Survey finds Brits' bad money saving habits affecting Christmas budget: According to a recent personal finance survey, Britain's bad saving habits have left many with a small Christmas budget. http://www.djsresearch.co.uk/blog/article/Survey-finds-Brits-bad-money-saving-habits-affecting-Christmas-budget-03413 http://www.djsresearch.co.uk/blog/article/Survey-finds-Brits-bad-money-saving-habits-affecting-Christmas-budget-03413 Survey finds one fifth have less to give as inheritance than they expected Survey finds one fifth have less to give as inheritance than they expected: According to a recent survey by Co-op Legal Services, 21 per cent (or one fifth) of people over the age of 50 said that they have less money than they expected to give as an inheritance to their loved ones after they pass. http://www.djsresearch.co.uk/blog/article/Survey-finds-one-fifth-have-less-to-give-as-inheritance-than-they-expected-03356 http://www.djsresearch.co.uk/blog/article/Survey-finds-one-fifth-have-less-to-give-as-inheritance-than-they-expected-03356 Survey finds many people hit 40 with no retirement savings Survey finds many people hit 40 with no retirement savings: Recent market research, conducted behalf of the pension provider, Zurich, has revealed that more than 1,000,000 British people hit the age of 40 with no money set aside for their retirement. http://www.djsresearch.co.uk/blog/article/Survey-finds-many-people-hit-40-with-no-retirement-savings-03312 http://www.djsresearch.co.uk/blog/article/Survey-finds-many-people-hit-40-with-no-retirement-savings-03312 Survey reveals under-30s are unwittingly ruining their credit rating Survey reveals under-30s are unwittingly ruining their credit rating: According to new finance market research by online credit score provider, My Credit Monitor, a whole generation of youngsters are destroying their credit scores without even realising. http://www.djsresearch.co.uk/blog/article/Survey-reveals-under-30s-are-unwittingly-ruining-their-credit-rating-03255 http://www.djsresearch.co.uk/blog/article/Survey-reveals-under-30s-are-unwittingly-ruining-their-credit-rating-03255 Survey found Brexit damaged business confidence Survey found Brexit damaged business confidence: According to a recent survey by Deloitte, business confidence amongst Chief Financial Officers at some of the United Kingdom's largest businesses (including FTSE 350 companies) has been damaged as a result of the UK's vote to leave the European Union. http://www.djsresearch.co.uk/blog/article/Survey-found-Brexit-damaged-business-confidence-03205 http://www.djsresearch.co.uk/blog/article/Survey-found-Brexit-damaged-business-confidence-03205 Survey finds gender pay gap prevalent in pocket money amounts The 2016 Halifax pocket money survey, which is conducted annually, has revealed that there is a gender pay gap which is prevalent within children's pocket money. http://www.djsresearch.co.uk/blog/article/Survey-finds-gender-pay-gap-prevalent-in-pocket-money-amounts-03149 http://www.djsresearch.co.uk/blog/article/Survey-finds-gender-pay-gap-prevalent-in-pocket-money-amounts-03149 Survey finds 50 per cent of parents borrow from their kids’ savings A recent survey by Nationwide Building Society has discovered that approximately 50 per cent of parents borrow from their kids' savings to pay for things such as the window cleaner, parking, taxis, takeaways and school trips. http://www.djsresearch.co.uk/blog/article/Survey-finds-50-per-cent-of-parents-borrow-from-their-kids-savings-03102 http://www.djsresearch.co.uk/blog/article/Survey-finds-50-per-cent-of-parents-borrow-from-their-kids-savings-03102 Millennials prefer cash over digital payments, survey finds According to a recent survey by a direct debit facilities management company, First Capital Cashflow, the United Kingdom still has a long way to go before it becomes a cashless country. http://www.djsresearch.co.uk/blog/article/Millennials-prefer-cash-over-digital-payments-survey-finds-03058 http://www.djsresearch.co.uk/blog/article/Millennials-prefer-cash-over-digital-payments-survey-finds-03058 Millennials are most worried about tax season, survey finds A recent finance survey has revealed that millenials are the most worried group when it comes to filing taxes. http://www.djsresearch.co.uk/blog/article/Millennials-are-most-worried-about-tax-season-survey-finds-03001 http://www.djsresearch.co.uk/blog/article/Millennials-are-most-worried-about-tax-season-survey-finds-03001 33% of 18-24 year olds scared to check their bank balance A new survey has found that around a third of students admit they are afraid to check their bank balance; a growing concern for student unions across the UK. http://www.djsresearch.co.uk/blog/article/33percent-of-18-24-year-olds-scared-to-check-their-bank-balance-02952 http://www.djsresearch.co.uk/blog/article/33percent-of-18-24-year-olds-scared-to-check-their-bank-balance-02952