Money Round-up Video: Home insurance down as car insurance rises, Wonga in the red and accessing financial help

The Independent’s Personal Finance Editor Simon Read talks over the latest Money news

The Financial Conduct Authority took the unprecedented step of making Wonga cancel the outstanding debt of 330,000 borrowers and scrap the fees and charges of 45,000 more (PA)

This week: mild winter cuts the cost of home insurance, but car insurance set to rise: Wonga admits it will “take time” to repair its tattered reputation: you could be eligible for financial help: deal of the week – £500 off a new bike while helping charity

Mild winter cuts the cost of home insurance, but car insurance set to rise

For the full story go to Mild winter cuts home insurance but car insurance set to rise

In-the-red Wonga admits it will “take time” to repair its tattered reputation

Struggling payday lending Wonga has been forced to admit its financial woes will worsen this year.

Confirming a £37million loss last year, compared to a £37million profit in 2013 and more than double that the year before, chief financial officer Paul Miles this morning admitted: “Our 2015 results will reflect what will be another tough year.”

For the full story go to Wonga 'take time' to repair tattered reputation

Struggling? You could be eligible for financial help

Whatever our politicians are claiming about the recovering economy, four out of five low-income households have seen no sign of their financial situation improving. Benefits charity Turn2us warns that since 2010, families have seen their disposable incomes drop by £400, while the gap between the richest and poorest fifth of households has widened.

Despite their struggles, a third of low- income households have not checked their entitlement to benefits, the charity says. Turn2us is encouraging everyone to check what financial support could be available by using its free benefits calculator at Benefitsawareness.org.uk.

For the full story go to Are you eligible for financial help?

Deal of the week - get £500 off the price of a new bike while helping charity

Donate your old bike to a worthy cause and you could get £500 off the price of a new one. The trade-in deal is being offered at branches of Evans Cycles until June.

To take part you need to take your unloved bike to one of 58 stores across the country and donate it to one of 10 charities in the Evans Cycles charity initiative.

To find out more and see other deals and discounts, go to: Bargain hunters get on your bikes with £500 pound off Evans Cycles