According to a spokesperson for independent financial advisory firm St Edmundsbury Financial Services, consumers should have three to six months’ salary in an easy access savings account set aside - yet many are struggling to heed his advice.
Mark Wapshott believes the primary cause of this is not a reluctance to save, but an inability to do so given a number of financial constraints. However, he has also lamented the fact that there is not enough advice given to youngsters regarding the importance of managing finances prudently.
“The main reason for people not having enough money saved for important things is that there are too many demands on limited income - clients tend to spend for today and forget about tomorrow,” he confirmed. “Education at school level should also be improved.”
The role of education in increasing the propensity of Britons to save is crucial, Mr Wapshott furthers, especially as those in the 18 to 25 age bracket are deemed to have the least interest in saving while the more mature among us (the over-55s, in any case) are most likely to do so.
For those who find setting money aside in a uk savings account difficult, Mr Wapshott has a number of […]
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Remortgages are a great thing to apply for; but before you do, make sure to figure out whether or not you really need a remortgage. A new mortgage could be your downfall or it could open up new doors for you and your family. Do not go ahead of yourself by filling out applications as soon as you see lower interest rates. Read the following paragraphs before you decide.
- What are your reasons for needing a remortgage? Is it because you want to cash out and pay off some credit card debts or have your home remodeled? Can you not afford the huge installments that accrue every month? Is the present rate lower than that of your existing loan? If you already have a stable loan and just want to cash out, maybe you should reconsider the benefits of having some extra money left over after paying your mortgage until you reach your retirement years.
- Do you have plans on staying at your home for a long time, or are you planning to move within the next few years? If there are no future plans of moving to another state, then refinancing could be a good idea about […]
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As the end of this year approaches, you may find yourself beginning to look forward to the upcoming New Year and all that it can offer you:- A fresh start.- New opportunities/challenges.- A long-awaited significant event.However, before you say good bye to this year, be sure to list the things you were grateful for, especially if it has been a difficult year. New research points to gratitude as a key to your health and happiness.You may wonder why it is important to be grateful. Author, Melodie Beattie says, “Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos into order, confusion into clarity, problems into gifts, failures into success, the unexpected into perfect timing, and mistakes into important events.”Robert Emmons describes gratitude as a key concept for social interactions in his book, Thanks! How the New Science of Gratitude Can Make You Happier, (2007). Yet, contemporary American society pays little attention to gratitude and its benefits. In many other cultures, gratitude forms the foundation of social life.We are out of practice. According to Emmons, more men than women resist experiencing and expressing […]
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