Savings
It's good to save? We all know that but here are a few statistics:
Britain's
personal debt is increasing by £1 million every 4 minutes. Three
quarters (74%) of British couples find money the hardest
subject to talk about with their partners according to the
Financial Services Authority (FSA). They also found that over a
quarter (27%) of couples regularly argue when they try to
discuss their finances; about a third (32%) of couples lie to
their partners about how much they spend on their credit cards;
over a third (35%) of British couples are kept awake at night
worrying about their money situation.
source:statistics compiled by Credit Action
www.creditaction.org.uk
In Australia a
worrying trend is that net savings as a proportion of GDP has
fallen from 12% in the 1960's to around 4% to 5% in 2006.
source: Investment Financial Services Association
Australia has one of the lowest household savings rates in 2007 of all the OECD countries. The country with the highest savings as a percentage of household income is Italy:
Italy @ 16% Korea @ 13.8% France @ 12%
Norway @ 4.5% USA @ 3.5% Australia @ 2.7%
Finland @ 1.2%
source: OECD2006a
Quarter of Brits (25%) have no
idea how much they spend in a week, and a similar number (26%)
have no idea of their monthly cash flow. This lack of knowledge
extends into other financial aspects of life. Only half of the
population (51%) know the balance on their credit cards and
nearly half (46%) have no idea what interest rates they receive
on their savings or are paying on their accounts and debts.
source:statistics compiled by Credit Action
www.creditaction.org.uk
The statistics speak for
themselves and the problem will not go away by burying your head
in the sand. You have to make resolving your debts and saving
money a mission. Gain control of your finances, develop the
right habits and you will be surprised how much you can achieve.
A journey of a 1000 miles begins with the first step!
Investments
We can provide you with a clear structured investment strategy which begins with identifying your growth and/or income requirements and measuring your attitude to risk. The world is changing all the time and we believe that your investment strategy should be relevant, flexible and transparent with access to world class fund managers.
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