𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

An additional note on that extra £200 that the average Brit has in their disposable income.

The report says most people plan to use it to improve their long-term financial resilience rather than on extra spending or lifestyle changes.

“Consumers reported year on year increases in spending on loan repayments (+4%), credit card repayments (+14%) and private and workplace pensions (+17%) since 2024,” the report added.

“Our latest MoneySuperMarket Household Money Index shows that energy spending fell over the past year, however bills may climb again this winter following the October price cap change. That’s why it’s worth reviewing your tariff and considering a fixed-rate deal if it suits your needs,” said Lis Barton, Chief Customer Officer of Mony Group.

MoneySuperMarket have run their Household Money Index report and it shows an uptick of 8 per cent spending by UK households compared to last year on essential bills and everyday expenses.

Brits are spending £55.26 a day on those, MSM say, with Londoners now spending above £2,000 a month on those essential costs for the first time since they started the report two years ago.

It wasn’t all bad news in the report, however.

The average person’s disposable income rose from £684.70 to £900.91 (32 per cent up) meaning people have more than £200 extra to spend or save a month, the report claims.

That’s in part due to rising salaries outpacing inflation over a period earlier this year.

NS&I say the two £1m winners in this month’s draw are from York and Shropshire.

Over £401m in total was handed out in prizes, in what marked the 69th anniversary since the Premium Bonds prizes first began.

From tomorrow you can check whether you’ve won a prize via the usual methods:

To check prizes on the NS&I website Bond holders will need their Premium Bonds holder’s number. For those using the Premium Bonds app they can use their holder’s number, or their NS&I number.

If you already know yours then here’s the two winning numbers:

Both winners held the max of £50,000 in PBs.

Credit score firm Experian are to factor in rental payments for the first time.

It means renters will see their payments history reflected in their score – while the bands are also set for an expansion and overhaul, report PA.

Scores will now go up to 1,250 instead of 999, with the five bands given new names and colours.

Experian say there won’t be any change to someone’s ability to get credit just on account of these alterations.

Ryanair has revealed soaring earnings after hiking airfares and earlier aircraft deliveries helping it fly more passengers.

The low-cost airline reported a pre-tax profit of 2.9 billion euro (£2.6 billion) for the first half of the financial year, 40% higher than the same period last year.

It flew 119 million passengers, 3% more than last year, after improved Boeing aircraft deliveries meant it could carry extra passengers.

Ryanair has been impacted by slower production following strikes among Boeing workers in late 2024.

A quick check in on the stock markets this morning with the FTSE 100 up 0.15 per cent.

Midweek last week saw the index hit another new record high.

Here’s some morning analysis from one of our regular industry experts:

“The FTSE 100 got off to a solid start with oil helping to grease the wheels of the index,” said AJ Bell investment director Russ Mould.

“The decision by producers’ cartel OPEC+ to pause further output hikes at the start of next year, amid concerns about a glut of supply, helped give oil prices a lift and, in turn, boosted UK market heavyweights BP and Shell.

“Prudential was among the top FTSE 100 risers as it continued to ride the wave of goodwill engendered by a strong set of third-quarter numbers last week. Precious metals miner Fresnillo shares ticked higher as gold prices stabilised after their recent sell-off.

“Elsewhere in the mining sector, there was pressure on share prices on signs of slowing Chinese economic growth and weaker factory activity across Asia as US tariffs take their toll. Vodafone was the top faller on the FTSE 100 after investment bank UBS downgraded its recommendation on the stock to ‘sell’, citing several competitive risks.”

Rachel Reeves is thought to be looking at hitting the top third of earners as part of an attempt to fill a black hole in the public finances of up to £50bn.

It’s sometimes hard to keep pace with everything around interest rates, how much it has all changed and the wider impact it has.

This chart helps display the rate of change, at least: post-Covid we had basically a zero rate for a long period, but the cost of living crisis across 2022 and 2023 saw interest rates shoot higher in quick succession as the BoE tried to stem inflation, which hit 11%.

Since last year the base rate began to decline, we’ve had five cuts in total.

Three this year came in February, May and August.

Thomas Pugh, chief economist at tax firm RSM UK, is one of those who thinks the MPC will remain prudent for now.

“Financial markets have gone from pricing in less than a 25% chance of another rate cut by the end of the year to a two-thirds chance now, due to a lower inflation peak and rumours of a less-inflationary budget,” he explained.

“We doubt this will be enough to tempt the Monetary Policy Committee (MPC) into a rate cut next week. We expect a 3-6 vote for a hold. But it throws the door wide open to a rate cut in December, especially if the budget is deflationary.”

Not everyone is immediately convinced, of course.

Plenty still think it’s more likely that the BoE will persist with their cautious approach so far and at least wait for one more monthly set of data to be taken in before opting to cut.

Matt Britzman, senior equity analyst at Hargreaves Lansdown, points to the money market still being split on December at the moment.

“London stocks have a touch higher this morning as investors brace for a pivotal week at the Bank of England. Rates are widely expected to stay at 4% on Thursday, but the real debate is whether policymakers deliver a cut in December, with odds hovering near 50-50. With stubborn inflation and slowing growth, expectations for the year ahead are in the balance.