So how much are you worth today?
While many in the UK have credit cards, overdrafts, loans, properties and investments, how many people actually know their net worth today and how this has changed over the last 12 months?
It may come as a surprise to many people to learn that the vast majority of the UK population has no idea on a day-to-day basis of their net worth or their net debt. Insurance policies, investment policies and a variety of other investment vehicles often go unnoticed and forgotten about when maybe these funds could be put to better use. One prime example is the premium bond system where literally millions of pounds worth of premium bond wins have gone unclaimed because people have lost track or forgotten about them.
Whether you use a laptop, your work PC or a good old-fashioned notebook, it is vital that you keep track of your assets, what they are worth and use this information to discuss the future with your financial adviser. Charges and interest rates can change dramatically over time and unless you have your "finger on the pulse" it is easy to lose track and reduce your return on investment. There is no harm in checking out your investments on an annual basis even if there is nothing to do.
Share this..
Related stories
Do you really need an overdraft?
The overdraft has become commonplace across the UK with many banks looking to tempt new customers who will ultimately be unable to repay their debt and stay with the bank indefinitely. Even though the vast majority of people in the UK are more than capable of using their overdraft facilities only when required, more and more people view these as a part of their everyday credit facilities which has...
Read MoreCan we kiss goodbye to final salary pension schemes in the private sector?
The news that the top companies in the UK have combined pension fund deficits in excess of £100 billion due to the fall in share prices, property values and income, we may be on the verge of kissing goodbye to final salary pension schemes. The situation has worsened significantly over the last 12 months and has also shown the fragility associated with pension fund investments in stock markets. Th...
Read MoreIs This The End For The Budget Airlines?
News that Ryanair has been hit by the rising cost of fuel has seen many aviation experts question the long term security of the sector and whether we will see any major companies going under over the next few weeks and months. The sector itself has been built upon a no frills service which requires large volumes of customers to make it work, but in times of economic slowdown the model has been fo...
Read MorePrivate clampers in the sights of the UK authorities
The government has today issued details of future plans to protect motorists from unfair clamping charges which have been the scourge of drivers up and down the country. In the future motorists will be able to appeal to independent tribunals if they believe they are being overcharged or targeted unfairly. Not only will those successful in the courts receive a rebate on part of their fine but they...
Read MoreNorthern Rock investigation takes in more former employees
The Financial Services Authority (FSA) has broadened its investigation into Northern Rock to see whether any other figures in the company were aware that mortgage arrears figures were not reported correctly to the FSA. This comes at a time when the UK banking industry is again under the spotlight with revelations appearing in the public domain regarding various practices before and during the rece...
Read More