Low income consumers are typically paying £174 a year on extra credit costs from high street lenders by building up charges as they juggle their finances, a report warns today.
One in seven Britons has turned to a pricey payday loan or sky-high unauthorised overdraft to cover rent or mortgage costs in the last year, a worrying study from charity Shelter has found.
There has been a "seismic collapse" of private sector pensions and fresh incentives are needed to boost retirement savings as auto-enrolment nears, a report warned today.