13
MAY
Inflation and the economic slow-down
Is there any good economic news out there? It would seem not. I always view the glass as half-full, but this climate is even testing my sunny disposition.
The Consumer Prices Index (CPI) rose to 3%, year-on-year, it was announced today. This is a 0.5% rise from last month...pretty colossal in inflationary terms. The Retail Prices Index (RPI – the ‘basket of goods’ measure) also rose by 0.4% on the month, to 4.2%.
Put simply, those producing goods have recently felt the increase in utilities costs (gas and electricity) and have passed it on to the consumer in terms of price increases. This, in turn, creates a ‘sticky wicket’ scenario for the Governor of the Bank of England, having to justify to the Chancellor of the Exchequer why the Bank has just lowered interest rates amidst an environment of rampant inflation.
Read More...
7
MAY
Unbiased advice?
I received and read an article yesterday, written by Merryn Somerset Webb, a respected journalist who is Editor of MoneyWeek and writes for the Sunday Times amongst others. She was questioning the Financial Advice industry on a number of counts, mainly in response to the Financial Services Authority’s (FSA) Retail Distribution review (RDR).
2
MAY
Be careful out there...
I think they used that phrase in Hill Street Blues after their morning briefing, as the Cops were heading out onto the mean streets of downtown USA. “That’s a bit dramatic!” I hear you cry, but I think I am justified in using the phrase in relation to your personal finances. I’ll give you a couple of examples to start your Bank Holiday weekend with...
29
APR
Faster bank transfers on their way
APACS, the UK payments association, confirmed yesterday that the Faster Payments Service should be ready for launch on May 27th.
23
APR
Networking raises your profile and can increase your bank balance
I am member of my local Business Network International (BNI) Chapter. This is a networking group where only one individual representing each profession is allowed to join. We meet weekly on a Wednesday morning at 6.45am to learn more about each other’s businesses and to help, where possible, by referring Clients and potential business opportunities to each other.
16
APR
Fund managers...the good, the bad, and the indifferent?
How do you choose which fund manager should have the privilege of trying to make the most of your hard-earned savings? Independent fund ratings companies can be helpful in this respect, but tend to have a limitation in that they assess funds on their performance, volatility, financial stability, and other key factors over a period of time, rather than consider the undoubted importance of the fund manager in isolation.
13
APR
HSBC, Bank of Ireland…and Worcester Warriors RFC!
The story of the week for me had to be HSBC’s offer to match the existing interest rate of borrowers coming to the end of fixed interest rate mortgage products. This starts from tomorrow (Monday 14th April) and lasts for five weeks. The products offered will be fixed for 2 years.
8
APR
Home insurance renewal
My Mum called me yesterday evening, querying an ‘add-on’ noted down on her home insurance renewal letter. In this instance, it is nice being financially aware and financially qualified, helping her see through the jargon.
3
APR
Mortgage Madness
It’s crazy out there! I have been actively involved in the Mortgage market for over 5 years...a period in which lenders have become ever-more competitive, always looking for a niche they can exploit and commercial advantage they can gain on their competitors.
