Guilty borrowing, ethical investing, saying goodbye to an old friend and a very troubling price increase. All this and more in our weekly money and personal finance news round-up.
1. Guilty borrowing
Have you ever borrowed money from the Bank of Mum and Dad? If you have, there’s a good chance you feel guilty about it, say Yorkshire Building Society. Research found two thirds of 18 to 40-year-olds felt pangs of remorse when using their parent’s money to purchase their first home.
2. Bye to the round pound
You have just under a week left to spend your remaining round pound coins. Sunday 15 October is the last date to spend them in shops, but you will still be able to deposit them in banks and the Post Office after that date.
3. Junior investing
Many parents and grandparents are missing out on better returns for their children by not investing in stocks and shares Junior ISA. Research by financial services company OneFamily, found 90% are not using the savings product, but are taking low interest rates on standard savings accounts.
4. Missing out
Millions are not paying into workplace pensions because they earn under the £10,000 a year threshold, according to the Trades Union Congress (TUC). Around nine million people across low-paid industries including agriculture, hospitality and the arts are missing out on automatic enrolment.
5. Capping the price
The energy price cap is back on the agenda, following last week’s Conservative party conference. According to ministers, the energy market regulator Ofgem could receive legal backing to introduce a price cap this winter.
6. Ethical savings
The younger generation are more likely to want their pension pot invested ethically. A poll by YouGov, found 13% of 18 to 34-year-olds wanted their retirement savings invested responsibly, compared to just 6% of 45 to 54-year-olds.
Bad news everyone. The price of Netflix is going up. The streaming service will increase subscription charges by 50p for standard packages, and £1 for premium subscriptions starting immediately. The price of basic subscriptions will not change.