Financial education at a young age pays off

Research has shown that teaching children about money when they are young, is likely to lead to a better understanding of savings and the ability to delay gratification in order to meet a long-term savings goal (Source: MyBnk). How does early learning help children to manage money? According to the research, seven-to-11-year olds who have received lessons in saving money and working toward long-term goals, are better able to understand financial decisions and the consequences they will have. Furthermore, many children displayed increased ability to: Delay gratification (68%) ...

First-time buyer doubts dampening spirits as two-fifths believe they won’t achieve their homeowning dreams

Almost half (48%) of people aged between 25 and 34 today who aren’t on the property ladder say they want to own their own home within the next 10 years. However, 41% think that achieving this dream is impossible. What are 25-34-year old’s expectations? Research from the Building Societies Association(BSA) shows that the number of people aged 25-34 who own their own home has dropped from 40% to 33% over the past 10 years. Looking forward, the research shows that 62% would like to own a home within the next ...

The struggle of finding the perfect home as a last-time buyer

Last-time buyers are those people looking for the home they will settle in during their retirement, and which they will potentially live out the rest of their lives in. They account for 30% of homeowners aged 65 and over. Unfortunately, research from Key Retirement has shown that many last-time buyers are struggling to find a home which matches their needs and is located in their preferred area. Why do older people want to downsize? There are several factors which may lead retirees to look for a smaller, or more ...

Is a lack of knowledge losing you money?

Many savers are unaware of the different products available to them, and that could be causing them to lose money unnecessarily (Source: Oaksmore ISA). If you are one of them, it is time to look at the options to improve your financial outlook. The current situation According to the research: 16% of savers are not aware of any type of ISA (Individual Saving Account) 75% are aware of traditional Cash ISAs, but not any other type of investment products 40% are aware of Stocks & Shares ISAs 31% are ...