Money-saving mobile apps cited as key to financial wellbeing

Money-saving mobile applications that allow Brits to shave valuable pounds off the price of everyday expenses really are worth their weight in gold.

That's according to one of Britain's biggest savers, Sandra Purser, who relies on discounts and various cost-cutting techniques to earn a living.

Ms Purser's frugality has caught the attention of thisismoney.co.uk, who allowed the Norfolk stay-at-home mum to compile a list of her best ways to save money.

She believes that smartphone and tablet owners can always drive down the cost of living due to the sheer amount of money-saving apps on the market. Ms Purser points to the example of Shopitize, which sends through notifications for saving money on groceries such as cereals, crackers, cheese and soap.

Shopitize.com says both Android and iOS users can save at least

Money issues to fuel onset of generation rent

Rising house prices and a lack of available finance will force Britain to become a nation of renters, according to a new survey.

A report from Halifax shows that half of Brits believe the next generation will see households focusing on renting quality property rather than attempting to purchase their own homes.

One of the least optimistic groups in the survey turned out to be the youngest, as one in five 23 to 27-year-olds said they had no plans to move out of their rented accommodation.

A review of the study at aol.co.uk attributes this to a reluctance among younger Brits to live in a poorer-quality house while they save up enough money to purchase a home.

Meanwhile 57 per cent of prospective homeowners say they would love to purchase their own property if only the finance was available.

Craig McKinlay, mortgages director at Halifax, says Britain is heading for a period where the aspiration to own a nice home will simply be replaced by one to never own one outright.

He told moneyfacts.co.uk: “It seems that people are now beginning to accept a lifetime of renting and this would not only change the way the property ladder looks in the future, it could even bring into question whether or not it will exist at all for some people.”

Brits hit by rising cost of moving house

Shocking figures reveal that Brits are now required to pay an average

Public sector workers wait for big improvement in wages

Workers in the public sector are being forced to wait patiently for a sizeable increase in their wages as private employees speed ahead.

The latest Household Finance Index from Markit indicates that UK households are actually under the least amount of financial pressure in over five years. However, this does take into account a huge rise in wages for private sector employees.

According to thisismoney.co.uk, Markit recorded a 1.9 per cent increase in wages over February compared with the same month in 2013, with inflation hitting 1.7 per cent.

Though while private sector workers saw above average growth in their salaries, those from the public sector saw an increase of just 0.9 per cent over the year to February.

Markit is also claiming that public sector workers are a lot more pessimistic about their financial prospects than employees of private companies.

Public sector professionals are being forced to carry a degree of optimism into the future after seeing limited change in their pay over the last 12 months. In the meantime, workers in thriving private sectors such as IT and manufacturing are said to be the most optimistic about their finances going into the next year.

Reuters.com says Markit's Household Finance Index displayed a reading of 43.1 in April, up from 41.9 in March thanks to a combination of lower inflation and the possibility of higher pay.

UK property market "out of control" amid fears of housing bubble

Analysts are warning that yet more growth for house prices across Britain could spell trouble for people wanting to get their first foot on the property ladder, reports theguardian.com.

New data from the Office for National Statistics (ONS) shows the average price of a home in Britain rising 1.9 per cent over February, which allowed year-on-year growth to hit 9.1 per cent.

First-time buyers have been dealt a hammer blow over the last year and are now facing up to the prospect of spending an average of

Four in ten families 'one paycheque away' from losing homes

Just one paycheque worth of savings stands in the way of four in ten families (44 per cent) losing their homes if made redundant, according to new research.

Cited by bbc.co.uk, a survey of 7,500 working adults indicates that a huge proportion of families would have just one month to get enough money together to keep their accommodation after becoming unemployed.

A further 29 per cent would be plunged into even deeper trouble if ever they lost their jobs, being immediately unable to afford their mortgage or rent, with this proving just how close some families are to a financial collapse.

The study comes courtesy of housing charity Shelter, which is demanding the government provide better short-term financial support for families with children under the age of 18.

Liz Clare, a helpline adviser at Shelter, says that families are putting themselves at risk by failing to save up enough money to aid them in the event of bad luck. However, Ms Clare believes addressing this issue is easier said than done.

“Sky-high housing costs and stagnating wages mean that saving is becoming a thing of the past for many people.” she told scotsman.com.

“Most of us simply don't have enough money in the bank that we can rely on for long enough to get back on our feet.”

The Department for Work and Pensions (DWP) currently spends

Coupons and discounts the key to big savings for super scrimper

One of Britain's most effective super scrimpers has let loose the secret behind her saving – claiming that discounts and coupons allow her to free up

Britain awaiting "real austerity", says BCC director

Brits have been told that the nation's recent economic meltdown will pale in comparison to the “real austerity” that's about to come.

Speaking at the annual meeting of the British Chambers of Commerce (BBC) on Monday (March 31), John Longworth, director-general at the group, said the government's failure to make improvements in areas like infrastructure and education is due to carry serious repercussions.

Cited by thisismoney.co.uk, he said the coalition's plan to rebalance the economy by increasing exports has failed and that Britain risks the fate of becoming a “bit-part player” in the economy unless things start to change.

However, Mr Longworth says that due to the failings of the current government, the worst is yet to come.

“Contrary to popular opinion, we haven't really seen austerity in the way, for example, as has been applied to many countries around the eurozone,” he commented.

“The next stage will require more belt tightening, possibly even real austerity in some quarters.”

According to britishchambers.org.uk, Mr Longworth says the next government will face “very hard choices” as a result of previous regimes ducking big changes to Britain's rail network, airports and motorways.

The BCC head went on to urge some of the bigger businesses to loosen their purse strings in an attempt to alleviate some of the strain.

More Brits stump up extra cash for overseas holidays, but some miss out

New figures show a rise in Brits planning overseas holidays for this year as the economy shows clear signs of improvement, reports heraldscotland.com.

Research firm BRDC Continental surveyed more than 1,000 Brits to find that over three-quarters (78 per cent) are planning on taking at least one foreign break over the course of 2014.

This is a rise on the 73 per cent who planned on doing the same last year and a huge increase on the 66 per cent from 2012.

Analysts from the group have attributed the spike in Brits booking foreign holidays to improved job security combined with higher financial confidence.

While this has caused the number of people taking domestic breaks to reach the lowest point in four years, travelmole.com says the figure still stands at 45 per cent – down only slightly from 56 per cent in 2013.

Those who wish to go on holiday to an overseas destination should now be looking for the excess cash that will allow them to escape Britain should the weather take a turn for the worst.

BDRC highlights that last January was the wettest in 250 years for the UK – and that it is “no surprise” that people are planning to escape their home nation over the next 12 months.

Nearly a third of Brits put saving on the backburner

Almost 15 million Brits are digging themselves into deep financial trouble by not making any effort to save money.

This has been suggested by a new infographic from investment group AJ Bell, which highlights the real troubles that families could face if they don't start preparing for the future.

A survey from the firm's Youinvest arm shows that nearly a third of the population – or 31 per cent – are not making any savings and can effectively rule out planning for big events like their wedding, an overseas holiday or lavish purchases like a new car.

In addition to this, half of Britain (50 per cent) are not participating in a non-state pension scheme at their workplace, which could leave them without a solid foundation to fall back on following their retirement.

Indeed, according to a rundown of the infographic at youinvest.co.uk, saving