Protection: Only 25% of families are covered if the worst happens

Only 25% of families are protected if the worst happensThe number of parents who have adequate protection should they die or become seriously ill is falling to dangerously low levels. Parents with dependent children have a number of options to ensure their family can cope financially in the event of serious illness or death; these include Life Cover, Critical Illness Cover and Income Replacement, also known as Permanent Health Insurance of PHI. However the research from Scottish Widows shows that the number of adults protecting their family is falling: Only 24% of adults ...

How to cope with the cost of raising a family: 6 hints & tips

Small BeginningsA new report has revealed the cost of raising a child to age 21 has soared to £222,458, and what’s more, in 10 years’ time, the figure will have risen to a staggering £350,000 per child. For the average family that’s more than half a million pounds spent on, amongst other things, childcare, food, clothing, and education. The job of making ends meet has been made even tougher for some families who have lost their Child ...

6 financial resolutions for the New Year

6 financial resolutions for 2012After you've gorged on turkey, Christmas pudding and mince pies, opened your presents and watched the inevitable reruns of perennial Christmas favorites on TV, your thoughts might drift to 2013 and what the New Year has in store. Why not take some time over the break to plan your finances for 2013? Our six financial resolutions should give you some inspiration. 1. Set your goals This doesn’t have to be as grand as it sounds, but as we start the New Year, think back to ...

Talking ‘bout my generation? Financial tips for fortysomethings

In the third part of this series we take a look at the financial problems for fortysomethings. Our 40’s is traditionally the period in our lives when our children are growing up and perhaps starting to think about university, we might need to move house and thoughts start to turn to planning more seriously for retirement. So, if you are in your 40’s, read of for our top financial and money tips. 1.    Make sure you are protected It’s highly likely that you have children, a mortgage, or both, which means you really should have sorted out your personal protection....