7 Dec, 2007
The most important key to the effective management of money involves time. The more time that you are capable of investing in the management of your affairs, the greater the return will be as a result of your investment. The earlier that you begin to manage your money, the more effective you will be when it comes to accomplishing your goals. There are too many people who try to go about managing money when it is too late in their life, and managing the money you have left is not as effective as managing your money as it comes in. In essence, there are four different questions that need to be answered by any money management programme that you participate in.
- What financial goals do you have?
- How soon do you want to achieve your financial goals?
- What funds do you already have available?
- What risks are you willing to make in order to reach these targets?
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30 May, 2007
A recent survey has found that a staggering £3.5 billion is being held in homes around the UK, losing an incredible £174 million in interest payments a year. While surveys in the past have uncovered a number of the UK population who have a lack of confidence in banks, like to store money or hide money form the tax man, the figure of £3.5 billion has beaten all expectations.
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8 May, 2007
While the Working Tax Credit system was a great idea in principle, in practice it has become the biggest “White Elephant†since the Millennium Dome. Having cost the tax payer £500 million in write-offs so far, it has been reported that there is a further £1.5 billion which has been earmarked as “not recoverableâ€, taking the total write offs to £2 billion!
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20 Mar, 2007
As unbelievable as it may sound, the government are putting in place a process whereby bank accounts which have not been “touched†for 15 years or more, will be transferred to a central fund and distributed to “worthwhile charitable causesâ€. This is the first time any such arrangement has ever been discussed, not to mention acted upon.
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17 Mar, 2007
While many in the UK are highly critical of the financial services sector, how many of us have actually ever complained? Do you know your rights? Do you know how and where to complain?
The surprising answer to many of the above questions is “noâ€, even though the UK has one of the most robust complaints procedures in Europe. All complaints about financial products / services should end up with the Financial Ombudsman Service (website address www.financial-ombudsman.org.uk) if the two initial parties are unable to come to an agreement.
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7 Mar, 2007
In a move that has been applauded by industry leaders, the UK Government have today announced some of the smallest ever increases in the minimum wage. Is this a ploy to curry favour with industry leaders ahead of an election, or a sign that the economy is expected to slow down?
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