People turning back to cash as prices rise
Prices are currently rising faster than they have for 40 years.
Personal cash withdrawals, at £801m, were up almost 8% month-on-month and up more than 20% year-on-year. It also said it was partly due to more people choosing to have staycations, with recent research by the Post Office finding that 71% of Brits planning on going on holiday in the UK this year intended to take out cash before leaving.Martin Kearsley, banking director at the Post Office, said: "We're seeing more and more people increasingly reliant on cash as the tried and tested way to manage a budget.
"Cash has been in decline for well over a decade, the pandemic accelerated this, but now it's going back up, and that's absolutely because of the cost of living crisis," she said.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Cost of living: People fear 'awful winter' as bills continue to riseSky News viewers share their stories, with one saying that after bills, he and his partner are left with '£3 for three weeks to live on'.
Læs mere »
Cost of living: Families in NI 'should have more choice' on school uniformsFamilies in Northern Ireland should be given more choice over where to buy children's school uniforms, an ex-teacher and uniforms campaigner has said 👚👔 costofliving
Læs mere »
Cost of living: Minister urged to 'step up' over uniform costsUPDATE: The education minister and Northern Ireland Assembly must 'step up' over the school uniform costs, the children's commissioner says nichildcom
Læs mere »
Landlords are becoming TikTok stars - while their followers suffer a cost of living crisisLandlords are becoming TikTok stars - while their followers suffer a cost of living crisis Many are being priced out of owning a home, but social media stars are making money pushing landlordism and property portfolios as aspirational 🏠 sarahmanavis
Læs mere »
'This is going to cost us': Anger over Stevenson Square pedestrianisation plan'This is going to cost us': Business owners' anger over council's Stevenson Square pedestrianisation plan
Læs mere »
Sex industry attracts Army wives in cost-of-living crisisDesperate Army wives work in sex industry amid cost-of-living crisis
Læs mere »