Do you find it hard to put some money away every month? You’re certainly not alone. In fact, according to statistics, millions of people across the globe struggle to cover any emergency outgoings.
Last week, friends and I missed a connecting flight whilst on vacation which both airlines refused to compensate for. This resulted in us having to shell out well over $1,100 to get home – an unexpected cost that surveys across both the U.S. and U.K. suggest that millions would be tipped into debt to fund.
This got me thinking. Continue reading “Shocking Savings Statistics: Can You Escape a Similar Fate?”
In Lost Savings Habit we discussed the prospect of younger generations ditching savings as a result of record low interest rates. According to a recent survey, a quarter of UK households would have to rely on loans or ask family and friends for help when faced with an unexpected bill. Young people may not receive adequate education about one of the most important factors they are going to have to deal with during their lives: money. Continue reading “Magic of Compounding: Grow Your Savings”
In my last article, Negative Interest Rates: Who’s Interested?, I touched upon the potential negative impact the current interest rate environment can have with regards to asset bubbles and large debt burdens. However there is also scope to focus on the impact low interest rates can have on the average household. Continue reading “Lost Savings Habit”