Weekly Digest – 21 September 2022

Weekly Digest – 21 September 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Economic problems set to return to centre stage as mourning period ends

The Bank of England is set to announce its latest decision on interest rates this week, and Kwasi Kwarteng will debut as chancellor. Both events are significant, and with the mourning period following the death of Queen Elizabeth II ending, attention is set to turn back to Liz Truss and the state of the economy.

Imperial measurements survey under scrutiny

Over the summer, the Department for Business, Energy and Industrial Strategy (BEIS) conducted a government consultation to determine the appetite for returning to the imperial system of measurements. However, the survey seems to have been missing some key parts – such as the ability to indicate preference for the metric system.

Cost of living payments to begin this week

Six million people are set to receive a one-off £150 disability cost-of-living payment this week. Those who qualify will be paid automatically.

Public sector employees turn to buy now, pay later

A new analysis by the University of Edinburgh shows that one in 10 public sector and NHS staff turned to buy now, pay later services after being rejected by mainstream lenders. Experts warn it could lead to a debt crisis.

The Energy Price Guarantee explained

Many Britons were relieved when Liz Truss announced a £2,500 yearly price cap for the average household as of October 1, frozen until 2024. But some may end up paying more than that.

Financial literacy levels aren’t great among Gen Z – or any other generation for that matter

A recent financial literacy study by the TIAA institute and the Global Financial Literacy Center showed that Gen Z scored the lowest in answering finance-related questions correctly at 43%. The combined Baby Boomer and Silent Generation group scored the highest. However, they only answered a paltry 55% of questions correctly.

How to end a state pension deferral

This is Money’s pension expert Steve Webb answers questions about how to end your state pension deferral, and what benefits you may be entitled to. It can be found here.

Volkswagen hopes for €75bn valuation for Porsche IPO

The price would make it one of the largest European public offerings to date. The luxury carmaker is set to hit the Frankfurt stock exchange later this month.

Frugal is the new cool for the younger generation in China

While most millennials in China imagined a future with new cars, bigger apartments, and lush vacations, an interesting shift has taken place in the wake of the COVID-19 pandemic. Many younger Chinese are now embracing a lifestyle of minimalism and frugality.

Crypto falls ahead of anticipated rate hike

Bitcoin and Ether both crashed as the markets opened this week. The poor performance comes as investors turned shy in advance of the US Federal Reserve’s anticipated rate hike later this week.

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