
Metro Money
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Welcome to Metro’s first edition of The Money Problem, from award-winning personal finance journalist and consumer champion, Sarah Davidson. Every week, she’ll investigate a reader’s money dilemma, offering a no-nonsense perspective on what’s gone wrong along with guidance and advocacy to help make things right. This week, we hear from 31-year-old Esme, whose newly-divorced mum needs somewhere to stay. Although Esme and her boyfriend have offered up the spare room in their Edinburgh flat, family think she’s out of line for asking their mum to chip in for their mortgage. Read more 👉 https://trib.al/oVaLXe9

All you need to do is give consent to link your bank account, pay your rent as you normally would, et voilà – your credit score will thank you for it (after six to eight weeks, that is) Read more 👉 https://trib.al/styY9Zn

When you’re in love, you tend to want to share everything, and once you’re living together that often includes pooling your money into joint accounts. While that can make sense, especially when it comes to contributing to bills, holidays and other shared expenses, it’s rarely a good idea to do this with _all_ your cash. Having some money, which is clearly your own, that’s held in your own account, means you’ll retain some financial independence. Read more 👉 https://trib.al/RfaIndU

Saving for a deposit can sometimes feel like an impossible task, with the average UK property now stacking up at £267,400. For a 5% deposit, your money stash needs to total £13,370 – and 10% is even worse, at £26,740. Naturally, the situation is even worse in London, where the typical home comes in at £683,820, as data from Rightmove shows. We’ll let you do the maths on that one. But if you’re looking to grow your pot with very little effort, a money expert has shared how hopeful homeowners can add £2,500 to their deposit in a year with a few simple steps. Read more 👉 https://trib.al/JQB0y9Z

There’s a major difference between people that are rich and those that aren’t, going far beyond the number of zeros on the end of their bank balance. Entrepreneur Paul Grant, who co-authored the book Money Remixed: The 14 Steps to a Wealthy Mindset, says there are nine key things that wealthy people do differently with their money that make them more financially successful – and these things are ‘within reach’ of anyone. Read more 👉 https://trib.al/cyVUkhT

One bank has introduced an ‘undo payment’ feature which they claim is an industry first 🔁 It means that if you send a payment and immediately have second thoughts, there’s a way back from the precipice. The feature could be helpful if someone sends money to the wrong person, types in the wrong number of zeros, or at the last minute realises they have been scammed. Read more 👉 https://trib.al/veINMjl

Service charges are being added to bills just about everywhere these days – from your local pub to the tiny cafe on the corner. Experts have claimed that 15% is going to become the new industry standard when it comes to restaurant service charges, while some suggest we could see this moving more in-line with the 20 to 25% tipping rate that’s standard across America in the future. 👉https://trib.al/ICks6DF

Following the Bank of England announcing it’s cutting the base rate, Martin Lewis has warned UK savers of a ‘tipping point’ for their hard-earned cash. Last week, interest rates were chopped from 4.5% to 4.25% – and the Money Saving Expert founder reckons now could be the moment to lock in a fixed rate. Read more 👉 https://trib.al/UuRvR3D

When you need to contact your bank, it’s usually for something pretty important, so not getting the service you expect can be infuriating. But, it turns out there are ways to fight back. Read more 👉 https://trib.al/NQjce5T

Years of stubbornly high inflation – how much prices have increased – have left everything from bread to household bills more expensive. But the government has several schemes that can give struggling families extra support. Read more 👉 https://trib.al/gcSTXC3