Tap and Go blamed for millenNial debt
Debt problems amongst young people are growing because it’s too easy to spend money using contactless and online payments, so says research by the Uni of West London.

1 in 10
..would consider going back to cash to curb their spending
64%
..said they overspend because of the
ease of payments
1 in 5
...adults under the age of 45 struggle
to control debt because of the ease of
tap and go.
"Since 2014, financial institutions have pushed consumers to adopt digital payments”
- Researcher, Dr Yehia Nawar
According to a study by WorldPay, contactless makes it more likely for us to:
🤦♂️ Overspend
🤦♀️ Make impulse purchases
Bedtime Browsing: the rise in night time spending
🌚 😴
Sleepless Brits are spending more than ever in the middle of the night according to John Lewis who reports:
23% 1 in 15
increase in nocturnal purchases are made between
spending over the last year midnight and 6 am
Duvet covers and headphones make up the most popular early hours searches
According to Barclaycard research, the most common time to buy is:
10:18 pm

Many purchases are triggered by
TV shows ➡ ➡ ➡
💳 TOP TIPS TO CURB LATE NIGHT SPENDING 💳
Delete card details from your browser
Banish your phone from the bedroom and get an old school alarm clock
Use shop block apps which deny you access to shopping sites between set times e.g. SelfControl
Apply the 48 hour rule - See it, like it, wait 48 hours, still like it? THEN buy it..
closed pawnbroker chain leaves customers in the dark

A&B Pawnbrokers (Albemarle & Bond) and Herbert Brown have ceased trading according to their websites.
All 116 stores have closed according to Owner Speedloan Finance, citing "significant losses".
If your items are expired or due to expire, please note we will not take any action with your items until we speak to you"
⬇️ ⬇️ ⬇️ ⬇️ ⬇️ ⬇️
how do pawnbrokers work?
Customer "pledges" an item for period of time e.g. gold ring
Pawnbroker gives 50% to 60% of the item's value as a cash loan
Customer pays 7%- 8% interest pm
Pay back the loan and interest to get your item back
If customer can't repay loan at the end of the deal the pawnbroker sells the item and returns any surplus to the customer

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