News

• January 2025 debt set to be highest on record while higher energy costs and tax returns will pile on more pressure
• Nationwide data shows debt repayments 4% higher this year vs 2023 as people borrowed more ahead of Christmas
• Debt has risen since the pandemic: customers repaid £796m of debt in January 2024 – 43% more than 2021
• But not all doom and gloom as Brits prepare to banish January blues by booking holidays in the New Year
• Nationwide urges those struggling financially to get in touch with their bank or building society for support

By 12pm today, Nationwide customers have made 3.59 million transactions - 20 per cent higher than a typical Friday.

• Black Friday transactions to be 9 per cent higher than 2023 with Brits expecting to spend average of £278
• Nationwide members predicted to spend £233K per minute on the day, an uplift of 12 per cent versus last year
• Research shows over 80% of people plan to take part in Black Friday and 1 in 3 return up to 5 items each year
• Live data: Consumer spending data (payments and fraud) to be available for media on Black Friday. Spokespeople will be available for interview throughout the day

• Mild summer leaves Brits desperate for winter sun as 83% looking overseas for their next holiday
• Nationwide’s Spending Report sees essential costs maintained as non-essential costs fall 4% in September
• Mortgage (17%) and rent payments (19%) increase year on year as Brits continue to deal with higher interest rates
• Start of new school year sees explosion in childcare and education costs as kids head back to classrooms

• Nationwide Spending Report again sees spending fall across both essential and non-essential items
• Annual growth of non-essential spending in September marks a low point for 2022
• Spending on utilities and bills grew by nearly a quarter (23%) compared to September 2021
• Spending on subscription services falls for fourth consecutive month but childcare costs rise versus 2019
• Monthly report provides overview of c217 million debit card, credit card and Direct Debit transactions

• Nationwide Spending Report reveals fall in spending across essential and non-essential items in August
• Spending on debt rises month-on-month and annually, as does the amount spent on rent payments
• Recent trend of falling spend on DIY, dating, subscriptions and gardening continues as consumers cut costs
• But spend on socialising and leisure¹ still rising despite cost pressures, accounting for a quarter of all non-essential spending

• Nationwide Spending Report reveals rising costs across both essential and non-essential spending in July
• Essential spending up 6% in a month (12% year-on-year); non-essential jumps by 5% (14% year-on-year)
• Cost cutting reductions recorded in June reversed as all but two non-essential categories see a rise in July
• Childcare, fuel, utilities & bills, travel on public transport see biggest annual growth in essential spending
• Despite monthly spike, year-on-year figures show reductions across subscriptions, gardening, DIY and dating

• Nationwide Spending Report shows drop across essential and non-essential expenditure and transactions
• Nearly all non-essential categories fall in June with biggest drops in gardening, gambling and subscriptions
• Spending on fuel and electric vehicle charging only ‘essentials’ category to see a spending increase in June
• Spending Report suggests households feeling the pinch and comes as Nationwide launches new hotline

• Spend in May hits 2022 peak as both essential and non-essential spending rise in value and number
• Nationwide’s Spending Report shows around 14m more transactions were made in May than April
• Essential spending rises driven by bills – including fuel, travel, utilities and paying off existing debt
• But consumers have increased spending on the things they enjoy – holidays, clothing and gardening
• Credit card spend up 6% vs April (and 22% on May 2021) while month-on-month debit card spend flat

• Month-on-month growth in essential and non-essential spending broadly flat in April
• Signs of creeping costs as transactions decrease but spend levels are maintained
• Households cutting back on childcare, subscriptions, and TV, phone-and-broadband
• But clothing, gardening, eating and drinking out see small jump during the month
• Utility bills up 40% month-on-month - reflecting rising costs of energy and Council Tax

• Strong Customer Authentication stops 2,000 more transactions a month falling prey to fraud
• More than two thirds are happy for payments to take a little longer if they are better protected
• More worry about losing bank card than data theft, despite nearly all online fraud relying on leaks
• 42% say SCA makes them feel safer and 27% say it makes them more likely to shop online

• Nationwide’s Spending Report tracked c217m credit, debit card & direct debit transactions made in March
• Overall spending up 16% vs February; non-essential spending (c£2.8bn) in March is highest so far in 2022
• Spending on charities was up 45% vs March 2021, with many supporting the humanitarian effort in Ukraine
• With rising petrol and diesel prices, spending on fuel and electric charging up 56% vs 12 months ago
• Credit card transactions up 29% versus March 2021 as more turn to credit to pay for goods and services
• Nationwide encourages people struggling financially to contact their bank or building society for support