Children 'an increasing financial burden'
Parents have been advised to invest in a child trust fund (CTF) as children are becoming more of a financial burden.Almost three quarters (73 per cent) of 11- and 15-year-olds in the UK expect their parents to help fund their time at university, CTF provider Children's Mutual has revealed.What's more, 60 per cent of the same group believe their parents will help them buy their first house.David White, chief executive of Children's Mutual, believes the best way for parents to avoid disappointing their offspring is to open a CTF to save for the future."Our research shows that children have high ambitions and many are hoping their parents will pay," he said."Raising children can be expensive and parents need to be prepared. The CTF provides a fantastic opportunity to encourage parents to save small amounts regularly, over the long term, helping to meet their children's expectations. "By saving over 18 years, it could prove easier for parents to help fund their children's futures, rather than by having to find money out of savings, earned income or their mortgage when their child is older."
Budget 2010: The UK government gives with one hand and takes with the other!
The Chancellor the Exchequer, Alistair Darling, today reported a £245 million package to help UK businesses through what has been the most challenging trading environment in living history. He placed himself in the position of the saviour of the UK economy and UK businesses, offering relief which will obviously assist many in the short term, but what is the real underlying position? While ther...Read More
UK Pound under pressure as Euro rallies
For a few moments yesterday the pound in your pocket would have bought just 98c as the pound fell below parity with the euro. While the currency did rally towards the close to end at â‚¬1.104 many believe we are now on the verge of a slippery slope for sterling, which could see the euro challenge the dollar and the yen as one of the main currencies around the world. So what does the future hol...Read More
Merrill Lynch sees overweight position in emerging markets
As worldwide investors look to position themselves to benefit from a forecast recovery in the global economy, Merrill Lynch, the US investment giant, has highlighted a significant shift in strategy towards emerging markets. April saw a significant move with global asset allocators "massively" raising their overweight positions in global emerging markets. This is a very significant move because eme...Read More
Barclays bank deals final salary pension schemes a killer blow
News that Barclays bank is not only closing its final salary pension scheme but also transferring assets into a cheaper scheme which will reduce future liabilities has received widespread criticism from the unions and employees. Just weeks after agreeing the sale of its iShares division the company is looking to reorganise and rebalance its assets and liabilities and the final salary pension schem...Read More
Currency counterfeiting on the increase
As we have pointed out on a number of occasions, the ongoing recession in the UK has attracted a significant increase in criminal activity with currency counterfeiting one of the leading "benefactors". It is estimated that one in 20 one pound coins in the UK are counterfeit which equates to a staggering 73 million fake coins in circulation. When you consider that a fake one pound coin can cost bet...Read More