Savings & Investment Advice Islington

Savings & Investment Advice Islington

It’s good to save? We all know that but here are a few statistics:

Outstanding personal debt was £1.578 trillion at the end of February 2018. This is up from £1.53 trillion at the end of February 2017.  An extra £1,169.92 per UK adult. The average total debt per household including mortgages was £58,119 in in February.  Per adult that’s an average debt of £30,537, around 114.2% of average earnings.

Every Day in the UK Based on the latest available data, Credit Action estimates that:

276 people are declared insolvent or bankrupt every day (based on Q4 2017 trends). This is equivalent to one person every 6 minutes 13 seconds,

Citizens Advice Bureaux in England and Wales dealt with 4,199 debt problems every day based on figures  for February 2018

It costs an average of £29.65 per day to raise a child from birth to the age of 21.

18 properties are repossessed every day, or one every hour and 17 minutes.

106 mortgage possession claims are issued and 78 mortgage possession orders are made every day

444 landlord possession claims and 339 landlord possession orders are made every day.

The average interest rate on credit cards lending bearing interest was 17.92% in February 2018. This is a staggering 17.42% above the Bank of England Base Rate (0.5%).

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!

Contact:

Clare or Mark on tel: 0207 288 6400.

Email:  clare@gmpifa.co.uk or mark@gmpifa.co.uk

For 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. Investments need to be reviewed.

The value of investments can fluctuate. You may not get back the full value of your investment. Past performance cannot be used as a guide to the future.