Pensions

This is the main way that people need to save over the long term to provide an income when they retire. It mainly involves saving money when you first start work. If you work for an employer they may also pay some money into your retirement account.

There are two main types of pension defined benefit and defined contribution. read more

Credit Cards Low APR July 2017

There are lots of credit cards in the UK market right now. There is also a lot of debate on whether credit cards are a good or a bad thing. We think you initially need a credit card so you can build a credit score for when you want a mortgage but of course you should be paying off your balance in full before the due date each month. The reason is that a lot of credit cards charge interest on the whole balance even if you pay off some of the balance. read more

Student Debt

We have just been reading an article about student finance in the U.K. It has already moved from a free to all system to a system that has started to introduce tuition fees. Over time these tuition fees have increased to where they are today at £9,250 per year. These tuition fees are usually covered by the Governments Student Loan Company. On top of this if the student is also living away from home they will also need to include the cost of rent and other expenses again these are usually covered by a loan from the Student Loans Company up to £11,002. When we look at how much money is lent to complete a 3-4 year degree we see £60,756 – £81,008 this is lent at a certain interest rate that starts as soon as the loan starts. The one good thing is that if you never earn above a certain threshold then after 30 years the debt will be written off. However if you do earn above this threshold then it is possible that you could be paying a lot more back than you originally borrowed over a thirty year period. read more

Peak Sugar

As we have already stated in our previous post sugar is something that most of us should be trying to reduce due to the evidence pointing to long term health issues caused by excessive consumption of sugar. These include gain excessive weight which could then lead to heart disease and type 2 diabetes along with tooth decay. Please remember that cutting sugar from your diet to only replace it with some other type of sweetener is no better than just eating sugar itself. However have we got near to the point of peak sugar? read more

Financial experts and the future July 2017?

A while ago we were listening to a business program and they were talking to a financial analyst of one of the big banks when he made an interesting statement. Stating that it is ok for inflation to be low (negative) on goods and services so that the Central Banks would continue pumping money into the system as well as keeping interest rates low and therefore boosting asset prices. The analyst then came out with lots of reasons why asset price inflation is good. read more

Sugar

Most people in the UK and US are eating too much sugar by eating sugary laden food and drink. These foods and drink contain large amounts of sugar that is added to food this sugar can be added in lots of different forms and may be labelled in several different ways when written on the ingredients labels. Most of these foods and drinks will have lots of calories due to the amount of added sugar, this in turn can lead to weight gain and eventually may lead to other more serious health conditions. read more

July 2017

So it is July 2017 and as part of the ongoing effort to create the website we thought it would be a good idea to share how much it costs and how much income is earn from the website and the other things that we do. We are initially just going to share the income and expenses from the website. Eventually we will try and add other income and expenditure so we can share a wider picture of what we earn and what the outgoings are. So here we go month one read more

Earnings

The average weekly earnings of a person living in the UK is currently £503 per week or £26,156 per year this would give a net salary of £20,873.28 with deductions of Tax £3,111.20 and National Insurance  £2,171.52. Some would call this the salary of the Normal Person who will work 37-40 hours a week. This is compared to the salaries of the Premier league football stars who can earn anything from £20,000 per week to £400,000+ per week giving a salary of somewhere in between £1,040,000 and £20,800,000 it is however difficult to decide how much time a footballer spends working in an average week as it is not just two ninety minute matches a week for the season. It is sometimes said that the high salary is required due to the short working life of the footballer but when you compare the normal person’s salary it would take them almost 40 years of their working life just to get the lower end of the Premier league footballer’s yearly salary. It could be debated whether this is justifiable or not but it is said that the Premier league is one of the riches football leagues in the world. Similar salaries will also be paid to the stars of Spanish BBVA La Liga Table, the German Bundesliga and the Italian Serie A. read more