Friday, 29 November 2013
Future of digital money management?
The starting point for every investment or saving has to be good money management and more and more of us are using digital tools to try and help the daily management of our finances. Enable’s IFA’s in Bishops Stortford would support any tools that work for you to help you keep on top of your finances and therefore lead to you having more choice when it comes to financial planning.
There are signs that the global recession is over, but many are still feeling the pinch and income does not always cover your expenditure. One of the favourite digital money management aps is in operation out in America at the moment and used by millions of people. Called Mint it provides a central repository to keep track of all of your current accounts, saving accounts, and credit cards. You can use a web interface, or this free app, to set up your profile. Once Mint has the measure of your incomings and outgoings, it is capable of tracking your spending and generating a sensible budget for you. You can see and monitor all of your credit card and bank spending through Mint. You can see at a glance where your money is going and the app can warn you via email or text when your cash reserves are running low. It’s best on a tablet, for easy navigation, and because you can enjoy the visual charts and graphs. There are no foreseeable plans to have Mint in the UK as yet but in the long term apps are probably part of the future of money management, in the meantime a good old face to face conversation with and experienced IFA at Enable in bishop’s Stortford might help you plan best for your finances.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Comics can make you rich
Let’s be honest investing in comics might not be top of the list of conventional investments but who knows what might be hidden in a box in your grannies attic?
Maybe you or a member of your family unwittingly stashed something valuable away. There are two main comic markets; the brightly coloured action-hero US comic, which appeal to serious investors. And then there is the British comic market, featuring much-loved characters- where the inclusion of the original free gift can easily multiply the price.
The sums of money could be seriously useful were you to come across a mint condition copy of the first edition of Action Comics, printed in the US in 1938, for example you might have found something worth more than $2m (£1.3m). But, Britain still has its valuable comics. A first edition of The Dandy from 1937, complete with the free gift of a whistle, would sell for more than £20,000. The Beano started in 1938: 10 years ago a copy of the first edition sold for more than £12,000. At the end of the year approaching Christmas when the shops are full of annuals aimed at the younger generation, a hidden-away annual from years ago could be worth a handy sum, a Beano annual from 1940 sold for £4,265 in 2010.
Duncan McAlpine of comicpriceguide.co.uk has a collection of around 100,000 comics - including the much prized Action Comics No 1. He said: "In 1987, when I was working as a floor manager on East Enders, I spent £10,000 on a copy. If I tell you that recently a copy sold for $2.6m (£1.6m) you'll see it was a good investment. Although my copy is not mint, it's probably still worth several hundred thousand pounds. I don't think it will be long before we see the first $5m comic." Enables IFA’s would be delighted to talk you through any of your plans for your financial investments.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Maybe you or a member of your family unwittingly stashed something valuable away. There are two main comic markets; the brightly coloured action-hero US comic, which appeal to serious investors. And then there is the British comic market, featuring much-loved characters- where the inclusion of the original free gift can easily multiply the price.
The sums of money could be seriously useful were you to come across a mint condition copy of the first edition of Action Comics, printed in the US in 1938, for example you might have found something worth more than $2m (£1.3m). But, Britain still has its valuable comics. A first edition of The Dandy from 1937, complete with the free gift of a whistle, would sell for more than £20,000. The Beano started in 1938: 10 years ago a copy of the first edition sold for more than £12,000. At the end of the year approaching Christmas when the shops are full of annuals aimed at the younger generation, a hidden-away annual from years ago could be worth a handy sum, a Beano annual from 1940 sold for £4,265 in 2010.
Duncan McAlpine of comicpriceguide.co.uk has a collection of around 100,000 comics - including the much prized Action Comics No 1. He said: "In 1987, when I was working as a floor manager on East Enders, I spent £10,000 on a copy. If I tell you that recently a copy sold for $2.6m (£1.6m) you'll see it was a good investment. Although my copy is not mint, it's probably still worth several hundred thousand pounds. I don't think it will be long before we see the first $5m comic." Enables IFA’s would be delighted to talk you through any of your plans for your financial investments.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Mortgage approvals
Enables’s financial Advisors of Bishop's Stortford see that UK mortgage approvals have dipped slightly in October for the first time in seven months. Approvals in October fell to 42,808 from 43,182 in September, the British Bankers' Association said last week.
Some economists say the monthly fall in mortgage approvals could be due to some people delaying mortgage applications as they wait of the second phase of the Government's Help to Buy scheme, The BBA said there was clear evidence that Government subsidies had helped to kick start lending. "Assistance schemes for mortgages are helping first-time buyers and housing chains generally as housing market activity rises," It is also the end of the year for house buying and selling our experienced IFA’s at Enable often see things tail away a bit as Christmas approaches. The depths of winter are never usually that good time to buy or sell a house.
Meanwhile, net consumer credit rose by £12m to £79.63bn in October, as consumers borrowed slightly less on credit cards and paid-off more money on overdrafts. The BBA also noted that low loan rates were helping to stimulate demand. “Improving consumer confidence is also leading to the banks seeing higher demand for personal loans,” said David Dooks, statistics director at the BBA. If your confidence is rising and you are interested in getting finance in place for looking for a home in the Spring Enable’s IFA’s are happy to take you through your options.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Some economists say the monthly fall in mortgage approvals could be due to some people delaying mortgage applications as they wait of the second phase of the Government's Help to Buy scheme, The BBA said there was clear evidence that Government subsidies had helped to kick start lending. "Assistance schemes for mortgages are helping first-time buyers and housing chains generally as housing market activity rises," It is also the end of the year for house buying and selling our experienced IFA’s at Enable often see things tail away a bit as Christmas approaches. The depths of winter are never usually that good time to buy or sell a house.
Meanwhile, net consumer credit rose by £12m to £79.63bn in October, as consumers borrowed slightly less on credit cards and paid-off more money on overdrafts. The BBA also noted that low loan rates were helping to stimulate demand. “Improving consumer confidence is also leading to the banks seeing higher demand for personal loans,” said David Dooks, statistics director at the BBA. If your confidence is rising and you are interested in getting finance in place for looking for a home in the Spring Enable’s IFA’s are happy to take you through your options.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Wednesday, 20 November 2013
How to raise a deposit for a home
Enable's Independent Financial Advisors in Bishop’s Stortford know that even if you are saving regularly and well with interest rates on savings accounts constantly low, it is very hard to see that saving grow with any speed, some savers are turning to the stock market to see if they can raise their deposit more quickly.
Even though help to buy has made some mortgages more available to first-time buyers there are many good reasons to save more before you start looking. You might prefer to save more before you start house hunting because a larger deposit will give you a greater buffer against negative equity should the property prices fall, and more of a deposit will give you access to much better mortgage rates.
But at Enable we know how hard it is , "Since the launch of the funding for lending scheme to help kick-start the mortgage market, savings rates have plummeted to record lows, and not a single savings account has been left untouched," says Charlotte Nelson, a spokeswoman for Money facts. Its data shows the average easy access savings account interest rate has fallen well below inflation (2.9%) to just 0.67%, down from 1.09% just one year ago. After tax, your savings are earning next to nothing, and to build up £34,000, a 20% deposit on a £170,000 house (the average price according to Halifax's index) you would need to save around £560 a month if you wanted to buy in five years' time, or £280 a month to buy in 10 years' time!
Many feel a decade is too long to wait and some are turning to the stock market as a quicker way to try and build up a pot. However, investing comes with risks which have the potential to push your dream of buying even further out of reach. If you are considering looking at this option Enable's IFA’s can help you consider your options and assess the risk.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
But at Enable we know how hard it is , "Since the launch of the funding for lending scheme to help kick-start the mortgage market, savings rates have plummeted to record lows, and not a single savings account has been left untouched," says Charlotte Nelson, a spokeswoman for Money facts. Its data shows the average easy access savings account interest rate has fallen well below inflation (2.9%) to just 0.67%, down from 1.09% just one year ago. After tax, your savings are earning next to nothing, and to build up £34,000, a 20% deposit on a £170,000 house (the average price according to Halifax's index) you would need to save around £560 a month if you wanted to buy in five years' time, or £280 a month to buy in 10 years' time!
Many feel a decade is too long to wait and some are turning to the stock market as a quicker way to try and build up a pot. However, investing comes with risks which have the potential to push your dream of buying even further out of reach. If you are considering looking at this option Enable's IFA’s can help you consider your options and assess the risk.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Compound interest for all
Enable’s IFA’s in Bishop’s Stortford see that compound interest is one of those mathematical things that we tend to take for granted when we know about it. Many have benefited over the years form diligent savings over the course of many years, allowing compounding interest to do its thing behind the scenes, doubling, tripling and sometimes even quadrupling savings over an investing lifetime.
Many adults however may not fully appreciate its power and chose to ignore the benefits of making compounding interest an ally from an early age. If grown adults do not fully understand the inner-workings of compound interest, imagine trying to explain it to your kids.
Maybe teaching your kids how to save and understand compound interest could be one of the best financial gifts you could give them.
Wikihow suggests giving them a bag of pennies and telling them that over the course of a week, you want them to give you a penny a day for the next seven days, as their personal banker. If they deposit the pennies in "The Bank of Dad" and compound interest begins to accrue the day they deposited the penny. Give them a “receipt” for their deposit and explain that they need to keep up with the receipts to see how much money they have added to their account. Add interest. Every other day, deposit an additional penny. Alternatively, you can match them penny for penny, but you don't want to set the unreal expectation that it is easy to double your money in a short time. .At the end of the week, have them check their balance at the "ATM" (Automated Tell-me-how-much-money-my-dad-has-for-me Machine). Gather receipts and confirm they have deposited seven pennies in “The Bank of Dad.” Then open the bank and count out its contents - all eleven pennies. Explain that the original seven pennies have grown to eleven pennies because every couple days the bank paid a penny for letting them use his or her money - that’s interest. Well it’s a start.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
Many adults however may not fully appreciate its power and chose to ignore the benefits of making compounding interest an ally from an early age. If grown adults do not fully understand the inner-workings of compound interest, imagine trying to explain it to your kids.
Maybe teaching your kids how to save and understand compound interest could be one of the best financial gifts you could give them.
Wikihow suggests giving them a bag of pennies and telling them that over the course of a week, you want them to give you a penny a day for the next seven days, as their personal banker. If they deposit the pennies in "The Bank of Dad" and compound interest begins to accrue the day they deposited the penny. Give them a “receipt” for their deposit and explain that they need to keep up with the receipts to see how much money they have added to their account. Add interest. Every other day, deposit an additional penny. Alternatively, you can match them penny for penny, but you don't want to set the unreal expectation that it is easy to double your money in a short time. .At the end of the week, have them check their balance at the "ATM" (Automated Tell-me-how-much-money-my-dad-has-for-me Machine). Gather receipts and confirm they have deposited seven pennies in “The Bank of Dad.” Then open the bank and count out its contents - all eleven pennies. Explain that the original seven pennies have grown to eleven pennies because every couple days the bank paid a penny for letting them use his or her money - that’s interest. Well it’s a start.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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