Savings & Money News

Levelling up from the ‘broke college student’ stereotype: How to save money when you’re in college

Savings & Money News admin -
(Commonwealth Union)_How often have we heard “oh man, I am so broke” by a college student, and how often...

A wealth advisor’s response to one of the most-asked questions by homeowners with some extra cash

Savings & Money News Veronica Elishya -
TORONTO (CU)_Just a few weeks ago, the Bank of Canada increased its benchmark rate by half a point, its...
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BNPL plans to become less appealing

Savings & Money News Veronica Elishya -
LONDON (CU)_Over the past few years, particularly since the beginning of the pandemic, consumers in the United Kingdom have...

Reforms to hit poor and minority ethnic people!

Savings & Money News Veronica Elishya -
LONDON (CU)_The government of the United Kingdom has proposed several reforms to the student loan system, which the Department...

Borrowers could get run over by Savers in the driver’s seat 

Savings & Money News Veronica Elishya -
OTTAWA (CU)_The Bank of Canada last week, hiked its benchmark rate by half a point, but could consider event...

Halifax tempts savers with ‘supersized’ prize draw

Savings & Money News Veronica Elishya -
HALIFAX, West Yorkshire (CU)_Bank of England’s decision to raise its base rate back to the pre-pandemic level of 0.75...

Here’s how you can maximise benefits on your savings account

Savings & Money News Veronica Elishya -
between 3.5 per cent and 4 per cent per year at most banks. This savers’ struggle is not limited...

Everything has gone up, absolutely every single thing!

Savings & Money News Veronica Elishya -
OTTAWA (CU)_After years of relative stability, inflation in Canada has been on a  roller coaster ride during the pandemic,...

Brits can now consider turning to savings clubs for those big-ticket items

Savings & Money News Veronica Elishya -
LONDON (CU)_As many households in the United Kingdom struggle with what has been described as a “cost of living...

How to Structure a Salary in India: Key Components

Savings & Money News Michael Alfonsia -
Organizations pay salaries to their employees in exchange of the services obtained. These salaries often have different components, such...

How to keep those pandemic-era savings habits now that you’re returning to office

Savings & Money News Veronica Elishya -
(CU)_Since the beginning of the pandemic two years ago, saving money has been one of the few silver linings...

A few tips for ‘desperate’ households amid cost of living crisis

Savings & Money News Veronica Elishya -
(CU)_Martin Lewis is one of the best-known consumer finance journalists in the UK. His Money Saving Expert newsletter is...

Concerns that low-income households turning to expensive forms of lending

Savings & Money News Veronica Elishya -
LONDON (CU)_Consumers in the United Kingdom are currently struggling with rising living costs, with some of them forced to...

Base lending rate retained at 7% despite uncertainties in global economic outlook

Savings & Money News Veronica Elishya -
NAIROBI (CU)_Just when we though the worst effect of the pandemic are behind us, China one again reported a...

Spring Statement: Fuel duty, income tax, NI cuts amid record-high inflation

Savings & Money News Veronica Elishya -
LONDON (CU)_United Kingdom’s Chancellor of the Exchequer Rishi Sunak on Wednesday (23) unveiled the contents of his Spring Statement...

Which credit cards offer more value for money?

Savings & Money News Veronica Elishya -
TORONTO (CU)_If you are researching credit cards, you may have come across cards offering rewards in two ways: cash...

Chancellor faces tough calls to take urgent steps as household incomes on course to collapse

Savings & Money News Veronica Elishya -
LONDON (CU)_Before Russian President Vladimir Putin sent his troops into neighbouring Ukraine in late-February, inflation in the United Kingdom...

Cut back on clothing, shoes, jewellery, avoid traveling, eating out…

News Veronica Elishya -
WELLINGTON (CU)_Amid another COVID-19 outbreak triggered by the new Omicron variant, consumers in New Zealand cut back on their...

Canadian dollar no longer a petrocurrency?

Savings & Money News Veronica Elishya -
TORONTO (CU)_Amid escalating conflict between Russia and Ukraine over the recent weeks, the United States, together with the UK...

Why is India so keen on setting up a rupee-rouble payment scheme?

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_Over the past month, the United States, together with several political allies, imposed sanctions on a host...

Rishi Sunak looking to quell concern over rising tax burden in landmark speech

Savings & Money News Veronica Elishya -
LONDON (CU)_Households in the UK are currently under mounting pressure owing to rising inflation and higher energy bills, and...

How do you get the most out of BNPL schemes without finding yourself in a pile of debt?

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_Amid the COVID-19 pandemic, a significant number of consumers in New Zealand, particularly those with tight finances, increasingly...

Bank of Uganda takes another step in promoting a shift towards a cashless economy

Savings & Money News Veronica Elishya -
KAMPALA (CU)_Over the past two years, the COVID-19 pandemic led a major shift in payment trends across the globe,...

You don’t have to cut up your credit cards. Advice for people struggling with impulsive shopping.

Savings & Money News Veronica Elishya -
HAMILTON, Ontario (CU)_For those consumers who have never been good at formal budgeting, and use their main bank account...

For those looking for a higher yield on your savings, a move up the risk ladder is in order

Savings & Money News Veronica Elishya -
TORONTO (CU)_In this era of ultra-low interest rates, a decent return on high interest savings accounts is a things...

Shoppers to flock to dollar stores amid mounting price pressures

Savings & Money News Veronica Elishya -
HALIFAX, Nova Scotia (CU)_Everything seems to be getting more and more expensive. From food and gas to housing, prices...

Kiwi workers to miss out on $521 in their savings each year

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_The Minister of Commerce and Consumer Affairs of New Zealand, David Clark, recently revealed that he had ordered...

Government looking at rewarding younger generations after a decade of stagnant growth

Savings & Money News Veronica Elishya -
CANBERRA (CU)_After a decade of stagnant wage growth, the Australian federal government’s top economists say the nation could enjoy...

Canada’s main inflation gauge glowing a brighter shade of red…

Savings & Money News Veronica Elishya -
OTTAWA (CU)_Last month, the Bank of Canada (BoC) opted against raising its benchmark interest rate, despite inflation surging well...

Calls to share views on adopting a digital currency

Savings & Money News Veronica Elishya -
NAIROBI (CU)_Over the recent years, several central banks across the globe have launched what are known as central bank...

Here’s some advice to debt-burdened Canadians during this RRSP season

Savings & Money News Veronica Elishya -
OTTAWA (CU)_Canadian households are currently under pressure, amid a record high inflation, the ongoing housing crisis and the economic...

Minimum wage hike highlights problems with New Zealand’s tax system

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_Last week, the government of New Zealand announced plans to increase the minimum wage from the current $20...

What does RBI’s policy mean to borrowers and depositors?

Savings & Money News Veronica Elishya -
MUMBAI (CU)_During its bi-monthly monetary policy meeting held on Thursday (10 February), the Reserve Bank of India decided to...

Guess how many UK households are to be classed as destitute this spring!

Savings & Money News Veronica Elishya -
LONDON (CU)_Over the past two years, the government of UK launched a host of measures to assist UK households...

A few quick ways to tackle painfully high interest rates on credit cards

Savings & Money News Veronica Elishya -
TORONTO (CU)_It is no secret that credit cards charge painfully high interest rates. Usually their rates vary between 20...

Unions call for increased support as number of universal credit claimants more than double

Savings & Money News Veronica Elishya -
LONDON (CU)_UK household budgets are currently under mounting pressure, as food, rent and other prices continue to increase at...

Kiwibank lifts deposit rates but you won’t be seeing a real return on your money this year

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_Kiwibank this week, lifted its rates on nine and 12-month term deposits, going ahead of most of its...

BoE upped the base rate in December, but only a handful of savers have felt the benefit

Savings & Money News Veronica Elishya -
LONDON (CU)_In December last year, the Bank of England decided to lift the base rate to 0.25 per cent,...

Move to minimise Post Office Savings Bank related fraud

Savings & Money News Veronica Elishya -
MUMBAI (CU)_The Department of Posts of India recently announced plans to minimise Post Office Savings Bank related fraud cases,...

UK households facing ‘heat or eat’ decisions

Savings & Money News Veronica Elishya -
YORK (CU)_Over the past few months, households in the UK have been struggling with a fuel stress, as energy...

BNPL is convenient. But what if you don’t factor the recurring payments into your budget?

Savings & Money News Veronica Elishya -
(CU)_Over the past few years ‘Buy now, pay later (BNPL)’ has swept the eCommerce sector across Europe, North America...

The new system boosting various currencies in Africa

Savings & Money News Veronica Elishya -
ACCRA (CU)_The Pan-African Payments and Settlement System (PAPSS) is a centralised payment and settlement infrastructure focused on intra-African trade...

As the ATO steps up surveillance, here’s how to avoid crackdown on SMSF early withdrawal scam

Savings & Money News Veronica Elishya -
CANBERRA (CU)_Over the recent months, the Australian Taxation Office (ATO) has been looking out for self-managed super funds (SMSFs)...

Major payment company, together with four others, fined £31.5m

Savings & Money News Veronica Elishya -
LONDON (CU)_The Payment Systems Regulator recently concluded an investigation which uncovered anti-competitive practices followed by five payment companies. The...

Experts warn of a new ‘generation precariat’ as cost of living crisis hits hard on people’s pockets

Savings & Money News Veronica Elishya -
LONDON (CU)_UK inflation in November jumped to a whopping 5.1 per cent,  its highest rate in a decade. According...

Good news for HDFC customers using InstaAlert services

Savings & Money News Veronica Elishya -
MUMBAI (CU)_InstaAlerts services introduced by HDFC Bank is a service which is largely relied on by customers. It enables...

Young Indians struggling with jargons, overload of information when handling their rainy day funds

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_The economic downturn brought about by the pandemic underscored the need to save for an emergency situation....

Credit cards ditch classic look as customers move from swiping to contactless tapping

Savings & Money News Veronica Elishya -
(CU)_The pandemic, which launched a digital transformation across the globe, led a major shift in payment trends in the...

SBI announces adjustments to rules on IMPS transactions

Savings & Money News Veronica Elishya -
MUMBAI (CU)_The Immediate Payment Service (IMPS) of the Reserve Bank’s National Payments Corporation of India is a payment system...

Increased borrowings reflecting bullish consumer mindset?

Savings & Money News Veronica Elishya -
LONDON (CU)_ UK households are currently facing a cost of living catastrophe, coping with prices pressures which reached a...

Desperate employers throwing cash at applicants in Canada

Savings & Money News Veronica Elishya -
FREDERICTON, New Brunswick (CU)_Many businesses in service jobs like retail, food and accommodation in Canada are trying to make...

Women face a bleak economic picture in 2022

Savings & Money News Veronica Elishya -
LONDON (CU)_Three years ago, the government of the United Kingdom compelled all companies and certain public sector bodies in...

With the New Year comes new changes

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_As we enter a new year, several money-related changes are expected in India. Here's a look at...

UK households to face the ‘year of the squeeze’

Savings & Money News Veronica Elishya -
LONDON (CU)_UK household budgets are currently under mounting pressure as a result of historical price pressures and the economic...

Largest crypto exchanger unveils savings account

Savings & Money News Veronica Elishya -
(CU)_The crypto-ecosystem is steadily evolving despite growing concerns and repeated warnings issued by financial experts and policymakers. With these...

Bitcoin could become ‘worthless’, investors warned

Savings & Money News Veronica Elishya -
LONDON (CU)_Since early 2020, the  market capitalisation of crypto currencies have grown tenfold to about $2.6 trillion. In the...

Where did all the ₹2,000 money go?

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_Back in November 2016, the government of India decided to demonetise the ₹500 and ₹1,000 banknotes that...

Forget the idea of a long and enjoyable retirement…its history

Savings & Money News Veronica Elishya -
have made national insurance contributions for at least 10 years during their working lifetime. The payment is capped at...

A major policy shift in BoC’s monetary policy framework

Savings & Money News Veronica Elishya -
OTTAWA (CU)_Every five years, the Bank of Canada (BoC), together with the Ministry of Finance, publishes a new monetary...

Revisions announced on cash deposit and withdrawal charges

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_India Post Payments Bank (IPPB) is a division of Indian Post, owned by the Department of Post...

Clarity on the new $5,000 note

Savings & Money News Veronica Elishya -
KINGSTON (CU)_In July 2012, the Bank of Jamaica (BoJ) issued a new $5,000 commemorative banknote, in celebration of the...

Credit card rates hit 20-year high!

Savings & Money News Veronica Elishya -
LONDON (CU)_In March last year, the Bank of England (BoE) brought its base rate down to a record low...

Millions of card details are sold for less than $2. Here’s what you can do to stay safe.

Savings & Money News Veronica Elishya -
(CU)_A recent study has found that hundreds of thousands of Aussie card details are found of the dark web...

Paytm’s new card-on-file tokenisation facility

Savings & Money News Veronica Elishya -
NOIDA, Uttar Pradesh (CU)_Seeking to secure customer payment cards from online fraud, the Reserve Bank of India (RBI) recently...

A blueprint to save cash

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_The COVID-19 pandemic has led to a major shift in payment trends across the globe, as the global...

The latest clampdown on cryptocurrencies in Nigeria

Savings & Money News Veronica Elishya -
cryptocurrency in Nigeria, particularly among younger individuals. Although some use these digital assets for day-to-day transactions through apps, for...

Halifax’s Kids’ Saver account was once a best-buy. That may not be the case anymore…

Savings & Money News Veronica Elishya -
LONDON (CU)_Earlier this month, the Governor of the Bank of England signalled that a hike in its base rate...

Survey reveals disconnect between financial literacy of Canadians and their confidence

Savings & Money News Veronica Elishya -
WINNIPEG (CU)_In this day and age, financial literacy is considered an essential skill alongside reading and writing. Experts this...

A crackdown on cryptocurrencies, with certain exceptions

Savings & Money News Veronica Elishya -
MUMBAI (CU)_In March last year, the Supreme Court of India revoked a ban on cryptocurrencies imposed by the Reserve...

Are rate hikes a cure for price pressures?

Savings & Money News Veronica Elishya -
TORONTO (CU)_Over much of spring and summer central bankers of Canada were arguing that the current record high inflation...

Government contemplates regulating latest form of consumer debt

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_ Over half a decade ago a new way to pay, called buy now, pay later (BNPL), swept...

Crypto craze in India sets off alarm bells

Savings & Money News Veronica Elishya -
MUMBAI (CU)_In March last year, the Supreme Court of India revoked a ban on cryptocurrencies imposed by the Reserve...

British pensioners living abroad face a frightening future

Savings & Money News Veronica Elishya -
LONDON (CU)_In late October, the Office for National Statistics of the United Kingdom confirmed that more than 10 million...

Finance ministry approves interest rates proposed by EPFO board

Savings & Money News Veronica Elishya -
NEW DELHI (CU)_The Finance Ministry of India gave the green light for the interest rate proposed by the Employees'...

Savings habits acquired during the pandemic are now under threat

Savings & Money News Veronica Elishya -
TORONTO (CU)_Since the beginning of the pandemic in early-2020, saving money has been one of the few silver linings...

A financial expert’s advice to Kiwis spending millions of dollars in credit card costs each day

Savings & Money News Veronica Elishya -
AUCKLAND (CU)_Last month, the Reserve Bank of New Zealand (RBNZ), published a report on credit card spending across the...

Central Bank’s new mandate gets a thumbs up from consumers

Savings & Money News Veronica Elishya -
MUMBAI (CU)_The Reserve Bank of India recently issued a new regulation under which customers are disallowed to make recurring...

Premier announces minimum wage hike as Ontario heads for election

Savings & Money News Veronica Elishya -
TORONTO (CU)_Over the recent weeks, the government of Ontario has rolled out a number of worker-friendly policies across the...

New study exposes severe lack of transparency in forex transactions

Savings & Money News Veronica Elishya -
MUMBAI (CU)_In the present day, most people in India are unable to know for sure the actual costs of...

Why BoC could wind up choking off Canada’s recovery?

Savings & Money News Veronica Elishya -
OTTAWA (CU)_The Bank of Canada (BoC) this week, ended its bond-buying stimulus programme and altered its timeline for a...

Brits bombarded with ‘buy now, pay later’ deals pile up multibillion-pound debt

Savings & Money News Veronica Elishya -
LONDON (CU)_Amid the COVID-19 pandemic, consumers in the United Kingdom, particularly those with tight finances, increasingly relied on the...

Parliamentary committee calls for extension of debt rights to taxpayers

Savings & Money News Veronica Elishya -
CANBERRA (CU)_The Australian Parliament's standing committee on tax on revenue recommended a host of changes to taxation practices followed...

Many Kiwis are living payday to payday

Savings & Money News Veronica Elishya -
AUCKLAND (CU)_The COVID-19 pandemic, which affected the lives and livelihood of millions of people across the globe, underscored the...

Nigerian President reaffirms safety of new digital currency

Savings & Money News Veronica Elishya -
ABUJA (CU)_Earlier this week, Nigerian President Muhammadu Buhari launched the country's first ever central bank digital currency (CBDC), after...

RBNZ avoids being accused of ‘crying wolf’

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_ For several months now, analysts have been anticipating an increase in the official cash rate (OCR) of...

Spending cuts despite manifesto-busting tax increases!

Savings & Money News Veronica Elishya -
LONDON (CU)_United Kingdom's Chancellor of the Exchequer Rishi Sunak is poised to usher in the highest level of tax...

Most Canadians are not comfortable with any adjustments

Savings & Money News Sarojini P -
OTTAWA (CU)_Rising prices were a key issue during the campaigns leading up to Canada's federal election last month, as...

Cost pressures force financial regulator to tighten policy settings

Savings & Money News Veronica Elishya -
SINGAPORE (CU)_As many countries across the globe begin to recover from the economic downturn brought about by the pandemic,...

Vice President clarifies views on exchange rate

Savings & Money News Veronica Elishya -
ABUJA (CU)_Earlier this week, Nigeria's Vice President Yemi Osinbajo participated in a two-day retreat hosted by the federal government...

Kiwis gear up for a cashless future

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_As digital innovations continue to take charge of the way we make payments, many central banks around the...

BT overcharged millions of its customers, but it’s not getting away with it

Savings & Money News Veronica Elishya -
LONDON (CU)_A few years ago, United Kingdom's media regulation Ofcom launched an investigation into multinational telecommunications company BT Group...

South Africans are being too cautious following the pandemic

Savings & Money News Veronica Elishya -
JOHANNESBURG (CU)_Since the beginning of the COVID-19 pandemic last year, millions of people across the globe have been confined...

Notes and coins play a crucial role in trade in West Africa, but authorities are concerned

Savings & Money News Veronica Elishya -
LAGOS (CU)_For many many years, notes and coins have played a crucial role in trade and economic activities in...

Bank of Canada to ensure a full economic recovery

Savings & Money News Veronica Elishya -
OTTAWA (CU)_Over the past few months, many economies across the globe have been starting to recover from some of...

Numbers confirm what we knew all along

Savings & Money News Veronica Elishya -
CANBERRA (CU)_The federal government of Australia, on Wednesday (29 September), confirmed that the projected figures for the budget deficit...

20 years ago people could live off returns on savings. That’s not the case anymore…

Savings & Money News Veronica Elishya -
WELLINGTON (CU)_Over the recent months, banks across New Zealand have been increasing, the interest rates offered on term deposits,...

Ex-PM denounces ‘morally indefensible’ decision

Savings & Money News Veronica Elishya -
LONDON (CU)_In March last year, the government of the United Kingdom introduced a £20 rise in universal credit and...

Federal Bank sets out to cash in on consumer credit demand ahead of the festive season

Savings & Money News Veronica Elishya -
MUMBAI (CU)_Over the recent past, there has been a noteworthy increase in the demand for credit cards, particularly during...

Student loan repayments is not the way to save on tuition fees!

Savings & Money News Veronica Elishya -
LONDON (CU)_Ahead of its review on comprehensive spending next month, the government of the United Kingdom is preparing to...

It is time to stop accepting near-zero returns on your rainy day fund

Savings & Money News Veronica Elishya -
AUCKLAND (CU)_Last month, New Zealand reported its first community COVID-19 case in six months linked to the growing outbreak...

Calls for a test run before full launch of e-Naira

Savings & Money News Veronica Elishya -
ABUJA (CU)_The Central Bank of Nigeria (CBN) is just a week away from launching its much-anticipated e-Naira, as the...

Pumping in more dollars to boost FX supply

Savings & Money News Veronica Elishya -
ABUJA (CU)_In late July, the Central Bank of Nigeria (CBN) announced its decision to completely cease  forex sales to...

PM Johnson unveils plan to ‘put the NHS back on its feet’

Savings & Money News Veronica Elishya -
LONDON (CU)_Earlier this week, the government of the United Kingdom unveiled plans to tackle NHS COVID backlogs and overhaul...

You don’t have to memorise lengthy credit card numbers anymore

Savings & Money News Veronica Elishya -
MUMBAI (CU)_Every year, people across the global lose billions of dollars as a result of credit card fraud and...