UK money news stories - 27 November 2024

Premium Bond rate cut to 4%

NS&I has announced a third cut to the popular savings bonds this year. The prize rate is being slashed from 4.15% to 4% from the January draw lowering your chances of winning one of the high value prizes. So should you ditch them?

Black Friday 'deals' exposed as duds

Nine out of ten Black Friday deals are cheaper or the same price at other times of the year, according to an investigation by consumer group Which? It’s also revealed the different tactics used by retailers and how they can confuse even the savviest of shoppers. 

Energy price cap to increase by 1.2% from January 2025

The new energy price cap’s been announced pushing up the average bill to £145 a month from January next year. But how does the price cap work and how can you save money on ever increasing energy bills? 

Shoppers can save money with loyalty cards, watchdog says

Supermarket loyalty cards do represent genuine savings, according to the competitions watchdog, but people should still shop around. It found little evidence of shops inflating prices to make promotions look like a better deal but said the loyalty price isn’t always the cheapest.

What was it like buying your first home in 1974 vs 2024: How much harder is it to get on the ladder now?

House prices have surged by more than 2,500% in the past 50 years while wages have failed to keep pace. Analysis shows how much trickier it is to buy a home in 2024 compared to the 1970s.

Gambling slots online to be limited to £5 per spin

Addiction to online gambling slots has soared since the pandemic and as part of the Government’s plan to tackle it, a £5 spin limit will apply to adults aged 25 and over, and a £2 spin limit for anyone between 18 and 24.

When will you retire? How to check when you could afford to stop work

One in three adults say they’ll retire between 66 and 70, whereas almost a fifth reckon they’ll stop working before the age of 60. If you’re not sure, you can try this calculator to find out when you can afford to retire and how much money you’ll need for the retirement you want.