What’s driving the growth?
Monzo’s success isn’t just down to having a flashy app. The bank has deliberately expanded beyond basic current accounts into areas that matter to everyday savers: savings accounts (now used by 3.5 million people), pensions, and investment accounts (650,000 accounts). This diversification means you can manage more of your money in one place, which many people find convenient.
The bank’s lending business has also grown significantly, with its loan book reaching £2.6 billion. Customer deposits have surged 55% to over £25 billion, suggesting people trust Monzo with their money.
Is Monzo right for you?
Monzo offers a free current account and a paid subscription tier (1.6 million customers now pay for premium features). The bank is competing directly with established names like Revolut (13 million UK customers) and newer challengers like Chase.
The key question: does Monzo offer better value or features than your current bank? Compare their interest rates on savings accounts, lending rates if you need a loan, and pension/investment fees against your existing provider. A digital bank’s lower overheads often mean better rates, but don’t switch just for the brand name.
Business banking boost
If you’re self-employed or run a small business, Monzo’s business banking division is growing fast too, with 905,000 customers. This might be worth exploring if you need a simpler, more affordable alternative to traditional business accounts.
Next steps
Visit Monzo’s website to compare its savings rates, investment charges, and loan terms against your current provider. If the numbers stack up, consider switching — but make sure you’re comfortable with mobile-first banking and understand the security features.
]]>These scams are becoming increasingly sophisticated. Fake boutiques use convincing tactics to look legitimate: professional photos, fake “family backstories” about why they started the business, and carefully chosen names that sound upmarket and exclusive. But once you’ve paid, the clothes that arrive are often poor quality counterfeits that bear little resemblance to what was advertised.
How to spot the fakes
Watch out for these warning signs. Prices that seem too good to be true usually are — genuine designer pieces don’t sell at a fraction of their usual cost. Check the shop’s history: legitimate businesses have a track record. Look for red flags in their story: vague “family heritage” narratives, brand-new accounts with thousands of followers, or inconsistent posting patterns.
Ask yourself: can you find independent reviews of this shop elsewhere? Do they have a physical UK address and a proper customer service number? Scammers rarely do. And be cautious of shops that only accept payment methods you can’t dispute, like bank transfers or cryptocurrency.
What to do if you’ve been caught out
If you’ve already paid and received counterfeit goods, act quickly. Report the seller to Instagram and the platform where you found them. Contact your bank or payment provider immediately — if you used a credit or debit card, you may be able to dispute the transaction and get your money back.
Report it to Action Fraud (actionfraud.police.uk or 0300 123 2040), which investigates consumer scams across the UK. Keep all evidence: screenshots of the advert, order confirmation, photos of what arrived, and any messages with the seller.
Remember: if a deal looks too good to be true, it probably is. Stick to established retailers with verifiable reviews and proper customer protections.
]]>P&O Cruises, which operates seven ships departing from Southampton year-round, now requires all passengers to have specialist cruise travel insurance in place before setting sail. The company states on its website: “You will be denied boarding, at your own expense, if you’re unable to confirm you have arranged insurance.” You’ll need to bring either a printed or digital copy of your insurance documents as proof.
This isn’t just a suggestion — it’s mandatory. And it’s worth understanding why, because standard holiday insurance won’t cut it.
Why cruise insurance is different
A standard travel insurance policy designed for land-based holidays often won’t cover the specialist risks of cruising. Cruise holidays require more comprehensive cover, particularly for medical emergencies at sea. Your regular travel insurance may have limited cover and won’t protect you if you need medical evacuation from the middle of the ocean — which can cost tens of thousands of pounds.
What to look for in cruise insurance
When shopping for a policy, P&O recommends checking that your insurance:
Importantly, if you have any pre-existing medical conditions, you must declare them to your insurer. If you don’t, you risk not being covered and having to pay for treatment yourself.
What you should do now
If you already have a booking, check your insurance documents immediately. If your current policy doesn’t specifically mention cruise cover, contact your provider to ask what’s included, or shop around for a specialist cruise insurance policy. Many comparison websites can help you find quotes quickly.
Don’t leave this to the last minute — arrange it as soon as you’ve booked your holiday. It’s a small extra cost that protects a significant investment in your break.
]]>Lewis made the point on his BBC podcast: if you’re keeping debts hidden from a partner and you have any joint accounts or credit agreements together, those debts can drag down their credit score too. It’s not just about trust — it’s about protecting each other financially.
The timing of this warning matters. New figures from Money Wellness show that one in five people seeking debt advice are married or in a civil partnership. In the first three months of 2026 alone, the organisation helped over 100,000 people. Around Easter, they saw a 13.3% surge in enquiries — a clear sign that UK households are under enormous pressure.
Rising energy bills, higher food and fuel costs, and mounting interest rates have left many families struggling to make ends meet. Money Wellness director Sebrina McCullough warns that advisers are “seeing people reach breaking point.” If costs keep rising, winter could be especially difficult for vulnerable households.
The good news? There are practical steps you can take right now. Start by having an honest conversation with your partner about your financial situation — no olive tree secrets allowed. Then, get a clear picture of what you’re spending. Money Wellness recommends using a budgeting calculator to compare your income against essential costs like rent, mortgage, food, and travel.
Once you know where you stand, prioritise paying essential bills first — rent or mortgage, council tax, utilities. Only then tackle high-interest debts like credit cards or payday loans.
If debt is weighing on you, don’t suffer alone. Money Wellness offers free, professional advice. You can also contact StepChange (0800 138 1111) or Citizens Advice for confidential help. The sooner you act, the better protected your finances — and your credit score — will be.
]]>With temperatures forecast to hit 28°C in southern England this bank holiday weekend, many of us will be eyeing up new outdoor seating. Aldi’s middle aisle refresh on Thursday, May 21 is bringing garden furniture at prices that make a real dent in your wallet compared to what Dunelm and B&Q are charging.
The chair deal that stands out
Aldi’s Folding Recliner in black or grey is priced at just £24.99. It’s a space-saving seat with multiple reclining positions that lock in place. The same style of chair at Dunelm — the Helsinki Reclining Sun Lounger Chair — costs £35, making Aldi’s version £10 cheaper. Even Dunelm’s bundle deal of two chairs for £65 (£32.50 each) still costs more per seat.
The string chair steal
If blue garden chairs are more your style, Aldi’s Garden Design String Chair at £25 looks strikingly similar to B&Q’s Beliani Garden Chair Rattan Blue, which costs £114.99. That’s a saving of almost £90 on an essentially comparable piece of furniture.
What you should do
If you’re thinking about buying garden furniture, it’s worth checking what Aldi has in stock before heading to more expensive retailers. Aldi updates its middle aisles every Thursday and Sunday, so you can plan ahead. Visit Aldi’s website to see the full Specialbuy range coming on May 21 and May 24.
That said, while Aldi’s prices are hard to beat, do check the product descriptions carefully. Look at weight limits, material durability, and warranty information to make sure the cheaper option will actually last. Sometimes paying a bit more upfront saves money in the long run.
With the cost of living pressures many households face, these kinds of deals matter — especially when you can save significant money without compromising on comfort or style.
]]>Katie Perrior’s observation about Austin, Texas tells an important story. Whilst she watched dozens of construction cranes dotting the American skyline, the clear message was simple: capital doesn’t pause for political drama. Money flows to where conditions feel stable and opportunities are clear, regardless of what’s happening in government.
For everyday British households, this matters more than you might think.
When investment dries up or slows, it affects jobs, wages, and the cost of living. Construction projects create employment. Business expansion means career opportunities. Infrastructure investment can improve local services and property values. But all of this requires confidence — and confidence needs certainty.
The UK has faced months of political transition and debate. Whilst Westminster works through its priorities, investors elsewhere aren’t waiting around. They’re deploying capital in countries with clearer rules and faster decision-making. That’s a real risk to the British economy.
What does this mean for your finances? In the short term, slower investment can mean fewer new job openings, weaker wage growth, and less pressure on inflation to fall. Property development might stall, affecting housing supply and prices. Over time, sluggish investment erodes living standards.
The broader point is that political stability matters to your pocket. Businesses need confidence to hire, expand, and invest in their people. Households benefit when the economy grows steadily.
This isn’t about which party is in power — it’s about decisiveness. Clear policy, fast decision-making, and stable rules create the conditions where investment happens naturally.
If you’re job hunting, looking to buy a property, or hoping for wage growth, remember that economic momentum depends on business confidence. And business confidence depends on government moving quickly and clearly.
Keep an eye on major policy announcements from Westminster. They’re not just political theatre — they directly affect your employment prospects, property values, and long-term financial security.
]]>What are gilts, and why should you care?
Gilts are bonds issued by the UK government to borrow money. When gilt yields rise, it makes borrowing more expensive for everyone: the government, businesses, and you. Higher gilt yields feed directly into higher mortgage rates, more expensive loans, and lower returns on savings accounts. So when they move, your finances feel it.
The real culprit: inflation, not politics
Recent commentary has suggested that uncertainty over Labour’s fiscal plans — particularly around potential changes signalled by figures like Andy Burnham — is driving up gilt yields. But this misses the point. The economist Tomasz Wieladek argues that inflation is the true driver here. When inflation stays stubbornly high, investors demand higher returns on government bonds to compensate for their money losing purchasing power. It’s simple maths, not political betting.
This matters because it means gilt yields aren’t about to drop just because of a Labour reshuffle or policy clarity. They’ll come down when inflation comes down — which, frustratingly, takes time.
What this means for your wallet
If you’re on a standard variable mortgage, rising gilt yields typically lead to higher monthly payments. First-time buyers face steeper borrowing costs. Savers might see marginally better interest rates on cash savings, though inflation often outpaces these gains.
The message: focus on inflation trends, not political headlines, when trying to predict interest rate moves. And if you’re worried about your mortgage or savings, speak to your lender or a financial adviser about your options — don’t wait for political certainty that may never come.
For more on how inflation affects your finances, visit the Office for National Statistics website or speak to StepChange if you’re struggling with debt.
]]>The broadband company is targeting customers currently with Sky, BT or TalkTalk. Instead of taking the TV, you can opt for a £125 bill credit instead, which might be more useful depending on your situation.
This kind of offer is fairly common in the telecom market – providers often compete hard for new customers by throwing in freebies or discounts. But before you jump at it, it’s worth thinking about whether switching actually saves you money overall.
Do the maths first
A free TV sounds brilliant, but the real question is: am I getting a better deal on my monthly bills? Compare Virgin Media’s standard package prices against what you’re currently paying. Sometimes these promotional offers come with higher monthly costs that cancel out the savings, or they’re only cheap for the first year.
Check the small print carefully. How long does the offer last? Are there early exit fees if you need to leave the contract? What happens to your bill after the promotional period ends?
Is the free TV actually worth it?
If you already have a decent smart TV, the £125 bill credit might be more valuable to you. That’s real money off your bills, whereas a free TV you don’t need just takes up space.
Also consider: if you take the TV, will you actually use it? Some of these promotional sets aren’t premium models, so if you have specific requirements for picture quality or size, you might find it doesn’t meet your needs.
What to do next
Compare Virgin Media’s full contract terms with your current provider using comparison websites like Uswitch or MoneySupermarket. Look at the total cost over the contract length, not just the headline offer. Check customer reviews for service quality – a cheaper deal means nothing if the service is poor.
Remember, this deadline is this month, so if you think switching makes financial sense, don’t delay. But don’t let the time pressure push you into a decision you haven’t properly thought through.
]]>What is the SNP proposing?
The SNP wants to introduce maximum prices on essential food items in Scotland. The idea is simple: if supermarkets can’t charge above a certain level for basics like bread, milk, and eggs, families will spend less on their weekly shop and have more money for other essentials.
It sounds appealing when you’re struggling with a £50 weekly food bill. But economists – including those at the Institute for Fiscal Studies – have serious concerns.
Why are experts sceptical?
Price caps can have unintended consequences. Supermarkets might respond by stocking fewer cheap items, removing products entirely, or pushing up prices on non-capped goods to make up lost profits. Suppliers could also decide it’s not worth selling to Scotland if their margins shrink too much. The result? Fewer choices and potentially empty shelves.
History shows price controls rarely work as intended. During the 1970s energy crisis, price caps led to shortages and queues. More recently, rent caps in some countries have reduced the supply of rental housing.
What could actually help?
Rather than price caps, most experts suggest better solutions: stronger action on inflation, support for low-income families through benefits like Universal Credit, and targeted help with energy bills (which often hit household budgets harder than food).
If you’re struggling with grocery costs right now, check whether you qualify for help. The Household Support Fund provides grants for food and essentials, and you may be entitled to more Universal Credit than you realise.
The bigger picture
While the SNP’s heart may be in the right place, evidence suggests price caps create more problems than they solve. Instead of waiting for political solutions, explore what support is available to you now – visit gov.uk to check your eligibility for benefits and cost-of-living payments.
]]>Here’s what’s happening and why it matters for your money.
The jobs market is cooling
Fewer vacancies mean more competition for the roles that are available. Whether you’re actively looking for work or thinking about a career move, this is a sign to act sooner rather than later if you’re considering a job change. It’s also a reminder to keep your CV up to date and stay alert to opportunities.
Your wages aren’t keeping pace with prices
With wage growth slowing and the cost of living still high — especially energy bills — many households are finding their money doesn’t stretch as far as it used to. This energy-led price shock means your heating and electricity costs remain a serious concern, even as other pressures build.
What you can do right now
If you’re employed, this is a good time to review your household budget. Look for areas where you can cut costs — energy-saving measures, switching suppliers, or finding cheaper alternatives for regular purchases. Every pound saved helps when wage growth is weak.
If you’re unemployed or worried about your job security, make sure you understand your rights. If you lose your job, you may be eligible for Universal Credit or other support. Contact the Department for Work and Pensions (DWP) to check what you can claim, and don’t leave money on the table.
If you’re in work but worried about redundancy, start building an emergency fund if you haven’t already. Aim to save enough to cover three months of essential expenses.
Where to get help
For benefits advice, visit gov.uk or call the Universal Credit helpline. For budgeting support, StepChange offers free debt and money advice. And if you’re job hunting, your local job centre or recruitment agencies can help you navigate a tighter market.
The job market will likely remain challenging in the short term, but planning ahead and staying informed will help you weather this uncertainty.
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