The first and most important step is to organise your finances, while developing a clear insight into your cumulative debt levels and precise fiscal circumstances.
We often think of the coronavirus pandemic as a health crisis, but there’s no doubt that its most tangible negative impact may ultimately be felt by the economy/
Personal debt levels had certainly increased by the end of March 2021, at which point Brits owed a total of £1.712.9 billion to creditors. This number had increased by £27.1 billion year-on-year, with this equivalent to an extra £511 per UK adult during this time.
With this in mind, you may need to take proactive steps to improve your personal finances. Here are some ideas to help you on your way:
Create and Adhere to a Budget
The first and most important step is to organise your finances, while developing a clear insight into your cumulative debt levels and precise fiscal circumstances.
The key to achieving both of these objectives lies with budgeting, as you look to accurately estimate your incoming and outgoings over a weekly or monthly period (depending on how you’re paid).
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It’s crucial that you’re accurate and deal in pence rather than pounds when budgeting, as this will outline the exact amount of disposable income that you have each month and enable you to spend within your means.
By maintaining this over time, you can also begin to consistently pay off any accumulated debts and increase the amount that can be committed to savings every month.
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Become Financially Literate and Recognise Lifestyle Inflation
Developing an understanding of finance (particularly the function of debt and interest rates) can be highly beneficial to your fiscal security, while you should also build knowledge pertaining to the wider financial infrastructure in the UK.
You’ll also need to be aware of the concept of “lifestyle inflation”, which is built on the principle that your spending increases as you earn more money. This can lead to disproportionate spending over time, which is why long-term budgeting is such an important tool in your armoury.
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Create Passive Income Streams to Boost Your Earnings
Given the socio-economic impact of the coronavirus, speculating to accumulate may be the best course of action for finance-oriented Brits.
The key is to seek out passive income streams where possible, so that you can maintain a full-time job and optimise your earning potential over time.
Through this platform, you can also build knowledge and leverage detailed analytical tools, while utilising the demo account feature to practice and hone your strategies in a simulated marketplace for a period of up to six months.
Business
Aldi announces ‘special’ 62-hour closure of all its 1,000+ stores across UK – this is why
Emily Sergeant
Aldi has announced that it’ll be closing the doors of all of its stores across the UK for 62 hours next month for a ‘special’ reason.
Christmas is always known to be one of the busiest periods of the year for the retail industry, and Boxing Day has a reputation for being the ultimate day for shopping deals and discounts in the UK – but this year, just like it has done on several years in the past, Aldi has made the decision to close all of its stores nationwide on this bank holiday.
The supermarket retailer says it wants to thank its colleagues ‘for all their hard work’ throughout the year by giving them some extra time to spend with their families.
This means that all Aldi stores will be closed on both 25 and 26 December.
That’s not all though, as stores will also be closed on New Year’s Day, and will reopen once again on Friday 2 January 2026.
Aldi has announced a ‘special’ 62-hour closure of all its UK stores / Credit: Aldi UK
Opening hours at different Aldi stores across the UK will vary in the lead-up to Christmas, so it’s important to check the times for your local store, but the retailer has confirmed that most branches will be operating extended hours to ‘ensure customers can stock up ahead of the big day’
In the interim period between Christmas and New Year, stores will reopen as usual on Saturday 27 through to Tuesday 30 December, with reduced hours also likely on New Year’s Eve.
Speaking on the decision to shut up shop for a full 62-hour period this festive season, Rebecca Heley, who is the Communications Director at Aldi UK, said: “Christmas is a special time, and we want to ensure all of our colleagues have the opportunity to relax and enjoy it with their loved ones.
“That’s why all Aldi stores will be closed on Boxing Day this year.
“We know how hard colleagues work to deliver an amazing Christmas for our customers, and this is one small way of saying thank you.”
Featured Image – Aldi UK
Business
UK’s best and worst parcel delivery companies named following new research
Emily Sergeant
Some eye-opening new research has revealed the best and worst parcel delivery companies in the UK ahead of Christmas.
With the festive season fast approaching and many already in the process of Christmas shopping, Citizens Advice has released its annual parcel league tables, ranking the UK’s five major delivery companies in order from best to worst based on their overall performance.
From chasing missing parcels, and battling arduous complaints systems, to even having accessibility requests ignored, Citizens Advice found through its latest research that more than a third (37%) faced issues with their most recent delivery – which works out to roughly around 15 million people, a new record.
The research – which was carried out in a ‘snapshot’ one-month period – reveals that the rate of parcel problems remains at the highest levels seen in half a decade.
Now in its fifth year, the charity’s league table looks at the top five delivery companies by parcel volume and measures their performance against criteria to determine who is the best.
The criteria each company is measured against includes customer service, delivery problems, and how well they meet accessibility needs, such as people needing louder knocking or longer to answer the door.
This year’s parcel league table shows Royal Mail scored the highest with 3.25 out of five stars overall, while Yodel slips to the bottom with just two out of five stars.
UK’s top 5 parcel delivery companies
Royal Mail – 3.25 out of 5 stars
Amazon Logistics – 3 out of 5 stars
DPD – 2.5 out of 5 stars
Evri – 2.5 out of 5 stars
Yodel – 2 out of 5 stars
Citizens Advice found through its new research that accessibility was the worst performing area overall, and this is despite Ofcom’s new condition requiring firms to give disabled consumers the opportunity to report their accessibility needs.
There was also customer service failures, with almost half (47%) of the people who had a problem with their initial delivery going on to have further issues trying to resolve the problem.
Research found that the most common problems customers faced with their last delivery include the driver leaving before they had time to get to the door (29%), their parcel being left in an insecure location (24%), and parcels arriving late (24%).
The UK’s best and worst parcel delivery companies have been named / Credit: Evri (Press Picture)
“Ofcom has passed the parcel of responsibility for long enough,” commented Dame Clare Moriarty, who is the Chief Executive of Citizens Advice.
“We’ve been doing the work of the regulator for five years now by holding parcel companies to account and speaking up for consumers who are bearing the brunt of persistently poor service.
“Our league table has tracked parcel problems from warehouse to doorstep. We continue to see millions of people chasing lost parcels, having their accessibility needs ignored and hitting a brick wall when they try to complain.
The Manc -
28th October 2020 
