Category: Personal Finance
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My report into Financial Education.
As you may be aware, I have started a campaign to improve financial education in UK schools after noticing how poorly it is delivered and the adverse impact it is having on young people. I know of people in their final year of secondary school who do not know that you pay interest on money…
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Why I’m trying to do something about financial education.
Money is an intrinsic part of modern life as we live in one of the most competitive consumer economies yet most young people have very little understanding of the financial world that surrounds us and are disadvantaged as a result. Since I was seven years old, I have been utterly fascinated by personal finance and…
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What does the next Bank of England base rate rise mean for you?
The Bank of England’s Monetary Policy have voted in a majority to raise the base rate to 4.25% – the highest level in 14 years. The decision to rise rates by 0.25 percentage points has been taken to try and combat inflation which is currently at 10.4% – over five times the MPC’s target and…
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What is the Financial Services Compensation Scheme?
In the wake of the troubles that beset Credit Suisse, many have questioned the security of other well-known financial institutions and whether a widespread financial crisis is looming. As part of these dire predictions, people have wondered what will happen to their money in the event that a bank collapses and whether their hard-earned cash…
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Payday Loans: How misselling crippled an industry
5000% APR, misleading advertising, lax credit checks – these were the problems which led to the downfall of the payday loan industry, an industry which took the phrase “A business’ job to make money” to extremes earning the nickname ‘the crack cocaine of debt’.
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Key points from the 2023 Budget
Earlier today, Jeremy Hunt stood proudly at the dispatch box and delivered his plan to improve and stabilise the British economy as it emerges from the recent challenges it has faced. Hunt used a combination of words that start with E to emphasises the key points of his economic plan so I’ve decided to do…
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Bank of England rises base rate to 4%
In response to the current spiraling inflation and cost of living crisis, the Bank of England has risen the UK base rate to 4% but what does this mean for your finances and the economy as a whole? We are in an almost unprecedented financial situation with inflation at a sustained high level and the…
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What does the Bank of England base rate rise mean for you?
The Bank of England’s Monetary Policy Committee has decided that the best course of action to support the economy is to rise the UK base rate to 3%. This equates to a 0.75 percentage point increase, the highest the UK has seen in a single announcement since 1989. Along with the rate announcement, the Bank…
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