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A snapshot of average weekly household spending

In January, the Office for National Statistics (ONS) released their latest Family Spending Survey, revealing the intimate details of British spending habits. In its 61st year, the report provides an insight into family spending habits, as well as showing how they differ between areas of the country. The average British household spent £572.60 per week in the financial year ending March 2018. After adjustments for inflation, this was the highest weekly expenditure since 2005. Increases in transport and housing costs were chiefly responsible for this…
18th March 2019

Time, not material goods, raises happiness

A new study has found that paying to free up your time is linked to increasing your level of happiness. Individuals taking part in a psychological experiment said that they felt happier when using $40 (around £30) to save themselves time rather than buying material goods. Stress over not having enough time can lead to reduced well-being, as well as being a contributing factor in conditions such as insomnia and anxiety. However, it has been reported that even the wealthiest people are generally unwilling to…
18th March 2019

Data for sale: How to check your financial information isn’t being accessed online

We live in an age where more and more services are becoming available online, and where the process of signing up for these services has never been easier. Whilst this offers greater convenience to our everyday lives than ever before, it also means your information is being held by an ever-increasing number of companies. The growth of online services has also meant that data breaches have been accepted as a regular occurrence. Worryingly, however, it may only be when your account is actually accessed by…
11th February 2019

Children caring for parents and the impact on everyone’s wealth

A recent study carried out in the USA found that those caring for elderly parents are likely to experience additional financial difficulties on top of the extra stress such responsibilities can bring. The study found that three out of ten American caregivers had also experienced negative consequences from their employers because of their duty to care for an older relative. Many had also seen their own retirement funds depleted because of the cost of providing care. The study also found that over three quarters (76%)…
11th February 2019

Is a personal referral the best way to choose a financial adviser?

You can spend your life working hard and following all the advice you pick up along the way. If you’re financially savvy, you might be able to pay off your mortgage quickly, put plenty into savings and build a nice nest egg to retire with. Getting a financial adviser to guide you through the process can be a great idea, but when you hand someone the keys to your capital, you want to make sure they know what they’re doing. There are plenty of excellent…
15th January 2019

What makes a resolution easier to keep?

The start of a new year brings with it many things, not least the tradition of setting resolutions in order to start the next twelve months off as you mean to go on. But as many people who’ve made new year’s resolutions will know, the intention of resolving to do or not do something is quite different to actually following through and making it a reality – and that’s true no matter what time of year you do it. So, what can you do to…
15th January 2019

4 key ways to prevent your grown-up children derailing your retirement savings

The Bank of Mum and Dad is a well-known concept and we all hate to see our children struggle financially, which is why many parents continue to support their children well into adulthood. Instead of being ‘empty nesters’, many parents discover that their offspring return to the family home straight after university (that is if they ever left in the first place!) due to the problems of getting a foot on the property ladder. The type of financial assistance given can take various forms, such…
7th December 2018

‘Winter sports’ doesn’t just have to mean skiing!

With winter in full swing, you might be thinking about how to make the most of the cold weather by donning your skis or your snowboard and heading for a winter sports break on the slopes. But instead of just going for the more obvious options, why not try something a bit different in the snow? Here are five ideas for some less conventional sub-zero sports and activities to mix things up a bit during the winter months. Snowshoeing – If you find it difficult to…
7th December 2018

Explaining fund charges and investment fees

If you hold any investments, or already work with a financial adviser, then it’s likely that you’re familiar with the fees you pay to invest or receive advice but what are these fees and why are they so important to keep a handle on?……
21st November 2018

The rise of ‘staycation’ buy-to-lets

Since the Brexit vote, ‘staycations’ have become increasingly popular. This is unsurprising – for many people, going to the bureau de change has become an uncomfortable experience of seeing their hard-earned pounds transformed into a pitiful equivalent of euros or US dollars. Research by VisitBritain found that there was a 5.8% rise in domestic holidays in 2017. Sykes Staycation index reported that 56% of all adults ‘staycationed’ in 2017 and that 74% planned to do so when they were asked about their plans for 2018,…
21st November 2018

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The choice of TFAC as my financial adviser… has been one of the best financial decisions I have ever made. Advice has been given… and proposals have been drawn up on optimum ways to proceed. This has always been followed up by clear and concise documentation.

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The tool used to demonstrate different financial scenarios is fabulous to help plan my future savings and more importantly my future spending!

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