Today’s money roundup explores finances and mental health and the latest online retail news.
Young Londoners struggling to save
Money is the biggest factor impacting the mental health of people in their 20s, according to a survey published today.
Over half (54%) said money was the major negative influence on their mental health.
Furthermore, it was ranked ahead of self-esteem (49%), body image issues (47%) and work pressure (37%).
Huffpost UK spoke to over a thousand twenty-somethings for their survey.
What are they struggling with?
The survey also showed almost two-thirds have less than £500 in savings, with a third having no savings at all.
Taxes: Interestingly 54% of those surveyed said they would pay higher taxes to support the NHS.
Nearly a third (30%) are happy to pay more for schools. Also, 28% are willing to pay for environmental improvements.
City News spoke to Londoners in their 20s, the majority of whom had no savings.
High rents: They cite high rental costs and the price of living in the city. Student debt and tuition fees are also the main reasons for not putting money aside.
ASOS returns outrage
ASOS shoppers have taken to Twitter to complain their accounts with the retailer have been deactivated.
The uproar comes following changes to the company’s return and refund policies, with the company blacklisting serial returners.
However, the company has introduced a system to flag people with unusual returns activity on their account, or who have returned clothes after wearing them.
This is a pattern seen across online retailers according to a survey by Barclaycard, with 1 in 4 businesses seeing an increase in volumes of returns in 2018.
It’s costing the industry £60bn a year in wasted delivery costs, damaged stock and stock being unavailable for resale leading to large numbers of unsold items at the end of the season.
ASOS is one of a number of retailers changing their policies. Boden and Amazon also adopt a similar approach.
Also, in response to the Twitter complaints, ASOS said shoppers were warned by email a month ago if they were at risk of blacklisting.
Sparks fly at energy plan
This morning we heard the first of Labour’s plans to renationalise power in Britain, creating a National Energy Agency which would own and maintain transmission infrastructure.
Labour leader Jeremy Corbyn and Shadow Energy Secretary Rebecca Long-Bailey announced the plans today. They hope it will usher in a “Green Industrial Revolution” and help tackle climate change.
They also outlined plans to install solar panels on all social and low-income homes to help reduce fuel bills and promote green energy, with interest-free loans for private homeowners to do the same.
The National Grid, who operate electricity and gas infrastructure in Britain, called the plans a “distraction”, saying they are “last thing” needed in the struggle to tackle climate change.
The company claims it would delay progress already made to switch to green energy.
Labour’s plans also propose paying less than market rate to buy back the National Grid, something legal commentators worry could contravene international law.
Chris Philp MP, Conservative Vice Chairman for policy, said the plans would “saddle taxpayers with debt” and that Labour had “no credible plan for how… they would pay for this.”
Sparks fly at energy plan
This morning we heard the first of Labour’s plans to renationalise power in Britain, creating a National Energy Agency which would own and maintain transmission infrastructure.
Labour leader Jeremy Corbyn and Shadow Energy Secretary Rebecca Long-Bailey announced the plans today. They hope it will usher in a “Green Industrial Revolution” and help tackle climate change.
They also outlined plans to install solar panels on all social and low-income homes to help reduce fuel bills and promote green energy, with interest-free loans for private homeowners to do the same.
The National Grid, who operate electricity and gas infrastructure in Britain, called the plans a “distraction”, saying they are “last thing” needed in the struggle to tackle climate change.
The company claims it would delay progress already made to switch to green energy.
Labour’s plans also propose paying less than market rate to buy back the National Grid, something legal commentators worry could contravene international law.
Chris Philp MP, Conservative Vice Chairman for policy, said the plans would “saddle taxpayers with debt” and that Labour had “no credible plan for how… they would pay for this.”
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HeadlineMoney roundup: The Londoners struggling to save, ASOS returns crackdown
Short HeadlineMoney: The Londoners struggling to save
StandfirstMost young people say money is the biggest factor affecting mental health. Asos cracks down on repeat returners.
Today’s money roundup explores finances and mental health and the latest online retail news.
Young Londoners struggling to save
Money is the biggest factor impacting the mental health of people in their 20s, according to a survey published today.
Over half (54%) said money was the major negative influence on their mental health.
Furthermore, it was ranked ahead of self-esteem (49%), body image issues (47%) and work pressure (37%).
Huffpost UK spoke to over a thousand twenty-somethings for their survey.
What are they struggling with?
The survey also showed almost two-thirds have less than £500 in savings, with a third having no savings at all.
Taxes: Interestingly 54% of those surveyed said they would pay higher taxes to support the NHS.
Nearly a third (30%) are happy to pay more for schools. Also, 28% are willing to pay for environmental improvements.
City News spoke to Londoners in their 20s, the majority of whom had no savings.
High rents: They cite high rental costs and the price of living in the city. Student debt and tuition fees are also the main reasons for not putting money aside.
ASOS returns outrage
ASOS shoppers have taken to Twitter to complain their accounts with the retailer have been deactivated.
The uproar comes following changes to the company’s return and refund policies, with the company blacklisting serial returners.
However, the company has introduced a system to flag people with unusual returns activity on their account, or who have returned clothes after wearing them.
This is a pattern seen across online retailers according to a survey by Barclaycard, with 1 in 4 businesses seeing an increase in volumes of returns in 2018.
It’s costing the industry £60bn a year in wasted delivery costs, damaged stock and stock being unavailable for resale leading to large numbers of unsold items at the end of the season.
ASOS is one of a number of retailers changing their policies. Boden and Amazon also adopt a similar approach.
Also, in response to the Twitter complaints, ASOS said shoppers were warned by email a month ago if they were at risk of blacklisting.
Sparks fly at energy plan
This morning we heard the first of Labour’s plans to renationalise power in Britain, creating a National Energy Agency which would own and maintain transmission infrastructure.
Labour leader Jeremy Corbyn and Shadow Energy Secretary Rebecca Long-Bailey announced the plans today. They hope it will usher in a “Green Industrial Revolution” and help tackle climate change.
They also outlined plans to install solar panels on all social and low-income homes to help reduce fuel bills and promote green energy, with interest-free loans for private homeowners to do the same.
The National Grid, who operate electricity and gas infrastructure in Britain, called the plans a “distraction”, saying they are “last thing” needed in the struggle to tackle climate change.
The company claims it would delay progress already made to switch to green energy.
Labour’s plans also propose paying less than market rate to buy back the National Grid, something legal commentators worry could contravene international law.
Chris Philp MP, Conservative Vice Chairman for policy, said the plans would “saddle taxpayers with debt” and that Labour had “no credible plan for how… they would pay for this.”
Sparks fly at energy plan
This morning we heard the first of Labour’s plans to renationalise power in Britain, creating a National Energy Agency which would own and maintain transmission infrastructure.
Labour leader Jeremy Corbyn and Shadow Energy Secretary Rebecca Long-Bailey announced the plans today. They hope it will usher in a “Green Industrial Revolution” and help tackle climate change.
They also outlined plans to install solar panels on all social and low-income homes to help reduce fuel bills and promote green energy, with interest-free loans for private homeowners to do the same.
The National Grid, who operate electricity and gas infrastructure in Britain, called the plans a “distraction”, saying they are “last thing” needed in the struggle to tackle climate change.
The company claims it would delay progress already made to switch to green energy.
Labour’s plans also propose paying less than market rate to buy back the National Grid, something legal commentators worry could contravene international law.
Chris Philp MP, Conservative Vice Chairman for policy, said the plans would “saddle taxpayers with debt” and that Labour had “no credible plan for how… they would pay for this.”
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