Money Matters: Financial News February 2020
With our Money Matters post for February, we focus on the affects of Coronavirus on travelling, along with many other stories, news and articles of interest, brought to you by the Money Guru Squad.
- Coronavirus affects – travelling and travel insurance
- New chancellor appointed
- Net flow of consumer credit increased to £1.2 billion in Dec 2019
The Coronavirus outbreak has escalated around the world, with the worst hit areas including mainland China, Japan, Singapore, Taiwan, Thailand, Iran and Italy. Aside from health concerns, this is also leading to widespread disruption for travellers, who have been warned to check their flight plans and protect themselves with travel insurance.
After Sajid Javid’s resignation, there was also the appointment of Rishi Sunak as the new Chancellor of the Exchequer. He will present the new budget for 2020 on the 11th March, which will be the first since the General Election of 2019 that gave Boris Johnson’s Conservative Party a majority government.
The latest results from the Bank of England showed that the net flow of consumer credit rose to £1.2 billion from £0.7 billion in November. This is much more in line with the average of £1.1 billion, which was encouraging for the UK economy. However, this does not account for any recent economic developments which may show a downward trend into 2020.
Money Guru Highlights:
- What would you give up to save money? – a survey undertaken to see what the UK public would be willing to give up to save money in 2020
- Understanding your Payslip – we outlined the basics of understanding your payslip, useful for those who may be paying too much tax on a monthly basis
- How much would you spend on an engagement ring? – we undertook a survey to see how much people would be willing to part with on an engagement ring
- How to become self-employed – for those thinking of going freelance or starting their own business, we investigated the things you need to think about when becoming self-employed
Have you checked your eligibility?
Lastly, if you’re thinking of applying for a personal loan or credit card in 2020, always check your eligibility first. This will protect your credit score and narrow down your search so you don’t have to trawl through all of our products.
Start your comparison journey today by filling out moneymatcher – it will take less than 5 minutes and you can view your results for up to 30 days!
Written by Robert Bester
Published on 28th February 2020