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 £1.463 trillion at the end of November 2014. This is up from £1.433 trillion at the end of November 2013.  An extra £591 per UK adult. The average total debt per household including mortgages was £55.384 in November 2014. Over adult that’s an average debt of £28,968, around 115% of average earnings.

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

270 people are declared insolvent or bankrupt every day (based on Q4 2014 trends). This is equivalent to one person every 5 minutes 20 seconds, 2,083 Consumer County Court Judgements (CCJs) are issued every day (based on Q4 2014 trends). The average value of a Consumer CCJ in Q4 2014 was £2,158.

Citizens Advice Bureaux in England and Wales dealt with 6,389 new debt problems every working day during the year ending September 2014.

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

54 properties are repossessed every day, or one every 26 minutes 30 seconds.

The number of unemployed people over 12 months fell by 523 per day.

1,121 people a day reported they had become redundant between August and October 2014.

Government borrowed £469 Million a day during November 2014 (£5,426 per second)

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 UK population is growing by an estimated 1,123 people a day between 2003 and 2013.

The average interest rate on credit cards lending bearing interest was 17.99% in November 2014. This is a staggering 17.49% 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.