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How much should I have saved for retirement?

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What is the Average Credit Score in the UK

 

The Importance of Retirement Planning 

Retirement planning is crucial for your financial stability in your later years, as you will have to sustain your lifestyle without a regular income. If you must rely on the state pension, this can lead to a challenging financial situation. By beginning your retirement planning as early as you can, you are giving yourself the best chance later on.  

Learn more about state pension.

Find out below how much you should have already saved for retirement based on your age group and what strategies you can put in place today to keep up!

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Overview of Average Savings for Retirement 

In the UK, many individuals struggle to save adequately for retirement. The average retirement savings can vary significantly based on factors such as income level and age. Generally, it’s recommended that individuals aim to save at least 15% of their salary annually to achieve a comfortable retirement. However, many fall short, often relying on state pensions, which may not provide sufficient income to maintain their desired standard of living. 

Impact of Age on Savings Strategies 

Age plays a vital role in shaping retirement savings strategies. If you can start putting money away for retirement as you begin to enter full-time work, you will be able save much more. The amount you save each year can also increase as you earn more overtime and are able to manage your finances. As people begin approaching retirement age, their risk tolerance also decreases meaning that the return can often be limited.  

If you are thinking about beginning your retirement planning, no matter your age, it is never too late to start, get saving now and live your best life during retirement! 

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Statistics on Average Savings by Age Group 

In the UK, average pension pots vary significantly across different age groups. Use this as your guide so you know what to aim for. Despite this being what others similar to you might have saved, the amount you need to save for retirement is a lot more! 

As of recent data: 

Under 30s: The average pension pot is approximately £8,000. Many in this age group are just starting their careers and may not be prioritising pension contributions. 

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Ages 30-39: The average rises to about £32,000. Individuals often begin to focus more on savings as their careers progress. 

Ages 40-49: The average pension pot increases to around £77,000, reflecting a growing emphasis on retirement planning. 

Ages 50-59: The average jumps to approximately £125,000, as many are actively preparing for retirement. 

60 and over: The average pension pot for this group stands at about £190,000, though this can vary widely depending on individual circumstances and retirement plans. 

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You can also find out the average savings based on age so you can find out if you are on track.

 

Factors influencing average retirement savings: 

Income Levels: Higher earners typically save more, contributing to larger pension pots. Conversely, lower-income individuals often find it challenging to save adequately. This is true for private pension pots as well as workplace pensions as your salary will decide how much is put into your pension pot. 

Lifestyle Choices: Personal spending habits can significantly affect how much individuals are able to save. Those who prioritise long-term financial security may allocate more towards their pensions. 

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Employment History: Career stability and job changes can impact savings. Individuals with consistent employment often have more opportunities for pension contributions, while those with gaps in employment may struggle to build adequate savings. 

Financial Literacy: Understanding the importance of retirement savings and investment options plays a crucial role. Individuals who are more informed about pensions tend to save more effectively. This is why learning effective ways to save for retirement is so important. The more you know, the more you can help yourself. 

 

Importance of Having a Personalised Savings Target 

Having a personalised savings target is essential for effective retirement planning. It allows individuals to set realistic goals based on their unique circumstances, including income, lifestyle aspirations, and retirement age.  

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Having a tailored approach will help you assess how much you need to have saves to achieve your desired retirement outcome.  

Find effective ways to save for retirement.

 

How Much Money Do You Need to Retire at Age 60? 

When you are planning your retirement funds it can be effective to determine your potential expenses. This way you will know what you are saving for. During your retirement it is expected to spend about 70-80% of your pre-retirement income annually. 

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For the minimum retirement living standard from reports from 2019 is £10,900 for a single person and £16,700 for a couple according to Standard Life. Since 2019 this would have increased around £700 and £1000 respectively. 

For a comfortable lifestyle during retirement which includes several luxuries such as, holidays and financial freedom will cost on average £33,600 for a single person. This would be £49,700 for a couple which would have increased since 2019 by an estimate of £2,200. 

The key expenses include; 

  1. Housing Costs: This can include mortgage payments, property taxes, and maintenance. On average, retirees may allocate around £12,000–£15,000 per year for housing. The amount spent on this will depend on location and type of property. 
  1. Healthcare Expenses: As individuals age, healthcare costs typically increase. Estimates suggest retirees might spend around £3,000–£5,000 annually on health-related expenses. 
  1. Living Expenses: Daily living costs—such as groceries, utilities, and transportation—can average around £10,000 per year. 
  1. Leisure and Travel: Many retirees save for leisure activities and travel, with average annual spending in this area often reaching £5,000–£10,000. 
  1. Emergency Fund: Setting aside an emergency fund of £1,000–£2,000 is recommended to cover unexpected costs. 

Overall, a retiree at 60 may need approximately £25,000–£40,000 annually to maintain a comfortable lifestyle, depending on individual circumstances. 

 

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Savings strategies by age group 

In Your 20s: Start Early 

By starting early you can maximise the power of compound interest. Use our compound interest calculator to see how it works.

Aim to save 10-15% of your income. Consider contributing to a pension scheme, such as a Workplace Pension, where employers often match contributions. A Stocks and Shares ISA is also a great option for tax-efficient savings and investments. What is an ISA?

Tips for Budgeting and Saving Effectively 

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Create a budget to monitor your spending and identify savings opportunities. You can use budgeting apps to help you. 

 

In Your 30s: Building Momentum

As your income rises, increase your savings contributions. Strive for 15-20% of your income to go towards retirement savings, taking full advantage of any employer matching in your pension.

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Start diversifying your investments by including a mix of equities and bonds in your pension or ISA. This balance can help manage risk while maximising potential returns.

  • Prioritise high-interest debts, such as credit cards, and pay them off as quickly as possible.
  • Consider consolidating debts to lower interest rates and make repayments more manageable while continuing to save.

In Your 40s: Catching Up

Reevaluate your retirement goals and assess whether your savings are on track. Adjust your strategy as needed based on lifestyle changes, income, or shifts in retirement plans. 

If possible, increase your pension contributions to the maximum allowed. Taking advantage of tax relief can significantly boost your retirement savings. 

  • Consider side hustles or freelance work to generate extra income.
  • Look into real estate investments, such as buy-to-let properties, to enhance your financial portfolio.

In Your 50s: Preparing for Retirement

Now is the time to boost your savings. Aim to save 20-25% of your income if possible, focusing on your pension and other investment vehicles. 

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Evaluate your current spending and identify areas where you can cut back. This will allow you to redirect funds into your retirement savings in these crucial years. 

 

Common Retirement Planning Mistakes to Avoid 

Planning for the long-term –  People often underestimate the length of time they need to save for in retirement. Planning for a longer retirement can help ensure you don’t outlive your savings. 

Planning for Inflation and Unexpected Costs – Consider how inflation will affect your retirement savings. If you are just starting to save then by the time you need your retirement funds it will be worth less due to inflation. Additionally, you will need to prepare for any unexpected expense during retirement such as, home repairs.  

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Importance of Regularly Reviewing and Adjusting Plans 

Life circumstances change, so regularly review your retirement plan. Adjust your savings strategy as needed to stay on track towards your goals. 

Adapting to Life Changes 

Be prepared to adapt your savings plans in response to job changes, family dynamics, or health issues, ensuring that your retirement strategy remains aligned with your current situation. 

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  • Limit discretionary spending on non-essentials and focus on building your emergency fund. 
  • Automate savings by setting up direct debits to your savings or investment accounts. 

 

Have you got enough money put away for retirement based on the statistics above? Leave a comment below

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Greggs to launch CHAMPAGNE BAR inside department store before Christmas

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Greggs to launch CHAMPAGNE BAR inside department store before Christmas

GREGGS is set to launch a champagne bar inside a popular department store before Christmas.

The beloved bakery chain is set to open the posh drinks spot inside Fenwick’s Newcastle store from October 24.

The department-store champagne bar will only be there for a limited time

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The department-store champagne bar will only be there for a limited time

Visitors can indulge in some festive cheer, paired with Greggs’ famous bakes.

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Customers can sip on a selection of top-tier Champagnes, with glasses starting at just £10 for a taste of Ca’ di Alte Prosecco, or go all out with a luxurious £75 glass of Louis Roederer Cristal.

Those looking for a fancy treat can splash out on a whole bottle of Cristal for a whopping £425.

This concept follows the success of last year’s Greggs Bistro at Fenwick, which attracted more than 8,000 visitors in just one month.

Diners enjoyed a unique twist on festive fare, featuring the popular festive bake alongside duck fat roasties, smoked pancetta, chestnuts, and sprouts.

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This year’s menu, which runs until the end of December, has been crafted by Fenwick’s executive head chef Mark Reid in collaboration with Greggs.

The exclusive menu will only be available at the Fenwick’s Newcastle champagne bar and not chain stores.

Highlights include a steak bake served with a peppercorn aioli for just £4.95, and of course a hearty sausage, bean, and cheese melt with bloody Mary ketchup for £4.50.

Plus, the classic sausage roll has been revamped with a spicy hot honey chilli sauce—perfect for those who like a kick and under a fiver, selling at £4.

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I’m a Greggs superfan and I’m visiting 190 stores in just eight days in my campervan…I’m only eating bakes from chain

And for those with a sweet tooth, the Champagne bar won’t disappoint.

Guests can enjoy signature cocktails inspired by Greggs’ treats.

The bar is also stocked with non-alcoholic options like the refreshing peach Melba cocktail for £7.

The stylish Art Nouveau-style bar will seat just 16 guests at a time, who can summon top-ups by ringing vintage crystal bells.

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Reservations are required, and the bar will be open from 11.30AM until the store closes at 7pm.

Hannah Squirrell, Greggs’ customer director said: “While Champagne and Greggs might not be the most immediate food and drink pairing, we’re thrilled to launch the Greggs Champagne Bar at Fenwick.

“We hope everyone who visited us last year—and many more—will enjoy this fun and unique experience, discovering that a chilled glass of Champagne alongside a sausage roll is the hottest ticket in Toon for 2024.”

Leo Fenwick, strategic partnerships director at Fenwick, added: “After the phenomenal success of last year’s Bistro Greggs at Fenwick, we’re proud to partner with Greggs once again to launch the Champagne Bar.

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“This pop-up enhances our evolving restaurant offerings, creating a memorable in-store dining experience.”

Greggs doesn’t just offer delicious bakes; it’s also a haven for savvy shoppers looking to enjoy their treats without breaking the bank.

Here are some top tips from Greggs super fan Tony Collins on how to save money on your next visit.

How to Save Money at Greggs

Hit Up the Outlet Stores

One of Tony’s best-kept secrets is to make the most of Greggs outlet stores.

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These locations sell baked goods at heavily discounted prices, typically because they’re a day old.

Don’t worry—Greggs assures customers that the food is still fresh, and a percentage of the profits goes to charity.

Tony reports that he usually gets around 20 per cent off compared to regular prices, making it a win-win for your wallet and a good cause

BIG BREAKFAST Deal

If you’re looking for a filling breakfast without the hefty price tag, Greggs’ breakfast deal is hard to beat.

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Enjoy a brekkie roll and a hot drink for just £2.85 until 11 AM. It’s a tasty way to kickstart your day without overspending.

  • All prices on page correct at time of going to press. Deals and offers subject to availability.

Check Out the Freezer Aisles

You can also find your Greggs favourites in the freezer aisles at stores like Iceland.

Currently, a four-pack of sausage rolls is priced at just £3.

It’s a convenient way to enjoy Greggs’ iconic treats at home.

By using these clever tips, you can enjoy all your Greggs favourites while keeping your budget in check.

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Meanwhile, If your love for pastry knows no bounds then you are in luck as the bakery giant Greggs is launching its own jewellery line.

Greggs’ new autumn menu

Gregg’s tasty-autumn inspired menu is now available in stores across the UK for a limited time, here’s what’s on the menu:

  • Pumpkin Spice Latte – from £2.50
  • Over Ice Pumpkin Spice Latte – from £3
  • Salted Caramel Latte – from £2.50
  • Over Ice Salted Caramel Latte – from £3
  • Orange Mocha – from £2.60
  • Orange Hot Chocolate – from £3.10
  • All Day Breakfast Baguette – from £3.80
  • Mexican Bean & Spicy Cheese Flatbread – from £3.50
  • Pumpkin Spice Doughnut – from £1.35
  • BBQ Chicken Pizza Box – from £7.55

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Odeon installs VIP front row BEDS that can fit three people in eight UK branches

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Odeon installs VIP front row BEDS that can fit three people in eight UK branches

CANOODLING couples can skip the cinema’s back row and instead cuddle up and watch the silver screen in front row beds.

And they can even bring a friend, as the extra-wide loungers fit three people.

Cinema chain Odeon has installed its VIP beds at eight of its cinemas so far — with a ninth location by the end of the year.

Canoodling couples can now watch the silver screen in front row beds at Odeon cinemas

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Canoodling couples can now watch the silver screen in front row beds at Odeon cinemas

They have already proved so popular for couples’ date nights they are being rolled out in every new cinema.

Bosses have made sure the headrest is tilted just right, to avoid painful necks when gazing up at the screen as viewers stretch out.

But cinema staff, concerned about an influx of fumbling teenagers, said the beds are “perfect for young families to cosy up in the best seat and immerse themselves in film”.

Tickets are priced between £22 and £42 for three people, depending on location and times.

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Odeon has been upgrading its cinemas to boost the experience for visitors and encourage them to stop streaming and get off their sofa.

It plans to open a string of its upmarket Luxe cinemas later this year amid hopes this winter’s schedule of blockbusters will lead to a film-going revival.

Bumper bookings are expected for upcoming releases including Wicked, Gladiator II, Paddington in Peru and Moana 2.

Martin Lewis Money Show – How to bag FIVE Odeon cinema tickets for just £25 – but you’ll have to be quick

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Martin Lewis urges everyone to do quick check as they could get FREE insulation – The Sun

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Martin Lewis urges everyone to do quick check as they could get FREE insulation – The Sun

MARTIN Lewis’ MoneySavingExpert (MSE) has revealed how a quick check could help thousands of Brit households get free insulation this winter.

Many households in the UK could be eligible for a range of freebies offered by energy providers and local authorities under a government scheme.

Martin Lewis's MoneySavingExpert website has shared with customers how to get free insulation for your homes this winter

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Martin Lewis’s MoneySavingExpert website has shared with customers how to get free insulation for your homes this winterCredit: PA

And these could help bring down your energy bills this winter.

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The finance guru’s website MoneySavingExpert (MSE) has urged people to check if they qualify for the Great British Insulation Scheme which is open to a further 400,000 households.

The scheme is open to households in council tax bands A-E across England, Wales and Scotland.

You also must have an Energy Performance Certificate (EPC)rating of D or lower.

An EPC rating tells you how energy efficient a building is, with A being the most efficient and G being the most inefficient.

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F-rated homes are some of the leakiest homes in the country, meaning the heat produced by gas boilers quickly escapes the building.

They’re also unlikely to have double glazing or insulation.

The incredible scheme offers households free insulation, including loft, roof, cavity wall and other types of insulation – which could cut your annual energy bill by £100s.

Martin Lewis issues warning to anyone aged under 22 – do you have £2,000 in a forgotten account

Low-income households can also get new boilers and heating controls through the Energy Company Obligation (ECO) scheme.

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Under the ECO scheme, suppliers have a legal obligation to implement energy-saving measures in your home.

Help is offered on a case-by-case basis, but it can mean having a new boiler fitted, or loft or cavity wall insulation put in, often for free.

You can find more details about the scheme here.

The ECO was first launched in January 2013 and has been extended four times.

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Not all energy companies are signed up to the ECO scheme. Here is the list of ones that are:

  • British Gas
  • E (Gas and Electricity) Ltd
  • E.ON
  • Ecotricity
  • EDF
  • Octopus Energy
  • Outfox the Market
  • OVO
  • Scottish Power
  • Shell Energy
  • So Energy (including ESB Energy)
  • The Utility Warehouse
  • Utilita Energy

You only qualify for the ECO under certain circumstances, such as claiming certain benefits and living in private housing.

You also could be eligible if you live in social housing.

Also, just because you are eligible for the ECO scheme, that doesn’t mean you are guaranteed help.

Meanwhile, you may have to fund part of the energy-improving measures in your home.

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You can apply by contacting either your local council or energy supplier.

SOCIAL HOUSING DECARBONISATION FUND

The government recently confirmed fresh funding to help thousands of homes with poor insulation and outdated heating systems are in line for upgrades.

It has boosted the Social Housing Decarbonisation Fund (SHDF) by £75million.

The funding will be offered to 42 councils and housing associations across England to help them co-fund installations in up to 8,000 homes.

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Under the scheme, council houses will be retrofitted with wall and loft insulation, double glazing, heat pumps, and solar panels.

They will not be limited to one installation and could get their home insulated, have doors and windows upgraded to reduce heat leakage and cut their energy bills.

If eligible, those living in social housing will not need to do anything, as their housing provider will contact them.

Other households will need to check what their local authority has on offer, and they may need to apply for help.

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Local authorities will deliver the funding in different ways.

Therefore, you will need to check directly with your council.

BOILER UPGRADE SCHEME

Meanwhile, through the Boiler Upgrade Scheme, you might be able to get a grant to help with the cost of installing a heat pump.

The grant was first launched in 2022 and was originally worth £5,000 or £6,000, depending on the type of heat pump.

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But as heat pumps are typically expensive to purchase and install, costing between £5,000 and £8,000, the government boosted the grant in October to £7,500.

The grant can be used towards both air-source heat pumps and ground-source heat pumps.

Those wishing to install a biomass boiler can also apply for a £5,000 grant.

You must find an MCS-certified installer to claim the grant on your behalf.

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MCS is the certification scheme for energy-efficiency product installers.

You can find the nearest ones to you by visiting www.mcscertified.com/find-an-installer, but it is worth shopping for a few quotes.

Once you agree on a price, the installer will apply for the grant and you will then be contacted by Ofgem, the energy regulator, to confirm that the work is being done on your behalf.

You must pay the difference if the pump costs more than the grant.

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What energy bill help is available?

THERE’S a number of different ways to get help paying your energy bills if you’re struggling to get by.

If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.

This involves paying off what you owe in instalments over a set period.

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If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.

Several energy firms have grant schemes available to customers struggling to cover their bills.

But eligibility criteria varies depending on the supplier and the amount you can get depends on your financial circumstances.

For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £1,500.

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British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.

You don’t need to be a British Gas customer to apply for the second fund.

EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.

Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).

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The service helps support vulnerable households, such as those who are elderly or ill, and some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.

Get in touch with your energy firm to see if you can apply.

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Home Bargains shoppers rushing to buy beauty gift set that’s ‘ideal stocking filler’ scanning for £8 instead of £31

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Home Bargains shoppers rushing to buy beauty gift set that's 'ideal stocking filler' scanning for £8 instead of £31

HOME Bargains shoppers are rushing to buy an “amazing” beauty gift set that’s scanning at tills for £8 instead of £31.

The “ideal stocking filler” features several L’Oreal products.

Home Bargains customers could save £31.00 on the beauty gift set

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Home Bargains customers could save £31.00 on the beauty gift set

Home Bargains has slashed the cost of its L’Oreal Blemish Buster Gift Set from £38.99 to just £7.99.

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That’s over 80 per cent off meaning customers save £31.00.

What’s in the set?

  • 1x Smooth Sugars Clearing Scrub 50ml.
  • 1x Pure Clay Blemish Rescue Mask 50ml.
  • 1x Hydra Genius Aloe Water 70ml.

Essentially, customers looking to exfoliate, treat and hydrate their skin for a good price, need look no further.

Read more in Deals and Sales

A Home Bargain’s representative posted a photo of deal to Facebook and wrote: “An ideal stocking filler. Just look at that saving.

“Available in store & online.”

Comments from excited shoppers flooded the comment section, along with thousands of likes.

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One shopper said: “I use the hydra genius and it costs more than that on its own so this is a fab bargain!”

While a second commented: “Just got one and it’s fab.”

And a third said: “Please can santa bring this please oh please.”

I’ve already put my Christmas tree up & I don’t care what anyone thinks about it – I’ve spent hundreds on decorations in Home Bargains & other shops

However, many shoppers also expressed their disappointment to see the set was out of stock either online or in their local Home Bargains store.

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Equally, no wonder they’re out of stock – just one of these items usually costs around the price of the whole set.

If you head to L’Oreal’s website and search for a specific set item, you will be directed to a retailers website selling the product.

For example, a 50ml pot of the L’Oreal Paris Face Mask Pure Clay Glow currently costs £7.21 on Amazon.

According to L’Oreal’s website, no retailers are selling the Smooth Sugars Glow Scrub right now, but when searched directly on Amazon it appears to be selling for £20.40 per 50ml pot.

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Similarly, a 70l bottle of the Hydra Genius Aloe Water is also selling on Amazon for £12.99.

To find your local Home Bargains store, simply head to the website and click Store Locator.

Then enter your postcode or town to find your nearest store.

How to shop for bargains

As always, we recommend shopping around to find the best deal.

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There are plenty of comparison websites out there that’ll check prices for you – so don’t be left paying more than you have to.

Most of them work by comparing the prices across hundreds of retailers.

For example, Google Shopping is a tool that lets users search for and compare prices for products across the web.

Just type in keywords, or a product number, to bring up search results.

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Price Spy also logs the history of how much something costs from over 3,000 different retailers, including Argos, Amazon, eBay and the supermarkets.

Once you select an individual product you can quickly compare which stores have the best price and which have it in stock.

How to save money on Christmas shopping

Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.

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Limit the amount of presents – buying presents for all your family and friends can cost a bomb.

Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.

Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.

Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.

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Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.

Delivery may cost you a bit more, but it can be worth it if the savings are decent.

Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.

They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.

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How to save money at B&M

SHOPPERS have saved hundreds of pounds a year by using B&M’s scanner app.

The scanner lets you see if an item’s price is cheaper than advertised on the shop floor label.

Products that are typically discounted are seasonal items and old stock that B&M is trying to shift.

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The app is free to download off the B&M Stores mobile app via Google Play or the Apple App Store.

According to one ex-B&M manager, you’ll want to visit your local branch at 10am on a Wednesday too.

Here’s how you can join the B&M bargain hunt:

  • Download the B&M app for free on any smartphone with an App Store or Google Play.
  • Once you’ve installed it on your device, click on the option labelled “more” on the bottom, right-hand side of the app home page.
  • You’ll then find an option that says “barcode scanner”. Click on this and you’ll open a camera screen.
  • Use the camera to hover over the barcode of the product you wish to check.
  • If the price comes up as lower, take it to the cash desk and it will automatically scan at the lower price.
  • You don’t need to sign up to the B&M app to use the barcode scanner.

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Cadbury has made a major change to Christmas selection boxes – and chocolate fans will be outraged

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Cadbury has made a major change to Christmas selection boxes - and chocolate fans will be outraged

CHOCOLATE fans will be doubly disappointed this Christmas as Cadbury has shrunk its classic Santa Selection Box by ditching the Double Decker.

The 1970s and 80s favourite chocolate bar has been replaced with a caramel Freddo, which is around half the size.

The Santa Selection Box will include a caramel Freddo this year

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The Santa Selection Box will include a caramel Freddo this year
Last year's box included the popular Double Decker

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Last year’s box included the popular Double Decker

This year’s box weighs just 125g, down by 14 per cent from 145g last year. It is more than a quarter smaller than the box was in 2018, when it was 169g.

But the price has increased. 

In 2021 – when it was bigger – it was available in supermarkets for between £1.25 and £2. 

This year, it costs between £1.75 and £2.75 at the UK’s four main supermarket chains.

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Consumer expert Martyn James described the exchange of the Double Decker for a caramel Freddo as an “outrageous example of shrinkflation” – where companies sell a smaller product for the same or a higher price.

“A Freddo is the lowliest of chocs and is not a fair swap for the majestic Double Decker,” he said, adding that Cadbury had “ruined” the Christmas classic.

This is not the first time that Cadbury’s has left fans furious this year after it made changes to its chocolates.

Shoppers were in uproar in April after noticing Dairy Milk orange bars have been axed from shelves.

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Meanwhile, in August the popular Darkmilk bar suddenly vanished from supermarket shelves.

And last month it announced that Festive Friends will not be returning this Christmas.

It follows the decision not to bring back the Cadbury Caramel Bunnies this easter.

The former British brand Cadbury’s – now owned by US food giant Mondelez – came under fire in 2018 for removing the Fudge from the Santa selection box and replacing it with an Oreo bar.

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But since U-turning on the move and reintroducing the family favourite in 2019, it has made repeated changes to the box which have left customers short-changed.

The latest move is thought to be the fourth time in six years the chocolate maker has cut the size of its traditional selection box.

In 2020, it shrunk the size of the Fudge in the box by 12 per cent. 

Exciting new chocolates that have been spotted on shop shelves

Then a year later it cut the size of the Wispa and Double Decker bars, meaning customers got 24g less chocolate, compared with 2018.

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Now the 37.3g Double Decker is gone completely, with the replacement caramel Freddo weighing it at just 19.5g.

Overall, there is 44g less chocolate in the box this year than there was in 2018.

It now includes small versions of Fudge, Wispa and Crunchie, a treatsize pack of mini buttons and small Dairy Milk bar and the caramel Freddo.

A 180g bar of Dairy Milk contains more chocolate and costs less at most supermarkets, at between £2 and £2.50.

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Mondelez has been approached for comment. 

How to save money on chocolate

We all love a bit of chocolate from now and then, but you don’t have to break the bank buying your favourite bar.

Consumer reporter Sam Walker reveals how to cut costs…

Go own brand – if you’re not too fussed about flavour and just want to supplant your chocolate cravings, you’ll save by going for the supermarket’s own brand bars.

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Shop around – if you’ve spotted your favourite variety at the supermarket, make sure you check if it’s cheaper elsewhere.

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Brooks Macdonald blames Budget speculation for £100m outflows

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Brooks Macdonald CEO Andrea Montague begins role

Brooks Macdonald blamed investor confidence falling ahead of the Budget as one of the reasons it recorded outflows of £100m in the first quarter of its financial year.

Its latest results, published today (16 October), show a 6% reduction in gross inflows compared to the previous quarter.

MPS Platform, including the group’s B2B offering for financial advisers – BM Investment Solutions – grew to £4.6bn, from £4.4bn.

Gross outflows were down 5.1%, marking the second quarter in succession they have fallen.

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Net outflows were offset by positive investment performance in the quarter, resulting in the group’s closing FUM increasing by £100m to £17.9bn.

Brooks Macdonald CEO Andrea Montague said: “Our business has shown resilience through improved client retention across all our UK propositions.

“The considerable speculation around the upcoming Budget and rumoured changes to taxation and reliefs has clearly had an impact on investor confidence with lower gross inflows in the quarter.

“Our recently announced acquisitions of LIFT and Lucas Fettes demonstrate the pace at which we are delivering on our strategy, to reignite growth focusing on client service, reach, scale and efficiency.

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“I remain confident about unlocking the full potential of Brooks Macdonald.”

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