Number of millionaires rockets in Britain as poorest households see their wealth diminish

The number of British households that consider themselves millionaires has rose by nearly a third in two years as the wealth of the poorest households diminished. A total of 3.6 million households in Britain held wealth of more than £1 million by June 2016, up 29 per cent in two years, the Office for National Statistics said. But in a sign that the Tories really are a party for the few the poorest households saw their wealth diminish. While the...

We’re all millionaires…. over a lifetime

The average worker will earn more than £1.1 million in wages during their life, a study has found. Researchers who studied the earnings of 2,000 people revealed they will typically bank £1,123,164 in pay over an average 48-year working career. According to the study, the average worker earns £23,399.25 a year. Workers in London currently bring in the highest annual salary, an average of £31,217.62, while those living in South West earn the least each year, pocketing £18,428.13. Greg Tatton-Brown...

7 in 10 UK workers are “chronically broke”

Economic insecurity has become the "new normal" according to a damning new study, with at least 70 per cent of the UK’s working population "chronically broke". Research by leading thinktank Royal Society of Arts found that while about 30 per cent of respondents said they lived comfortably, 40 per cent said their finances were permanently precarious. The remaining 30 per cent said they were not managing to get by, in a nod to Theresa May's JAM acronym. Brhmie Balaram, the author...

Household finances have been squeezed “left, right and centre”

The average UK household spend reached the highest level since before the financial crisis as finances get squeezed "left, right and centre". UK households spent £554.20 per week in the year to the end of last March, according to new ONS data, marking a rise of £21.20 in real terms when compared with the previous year. Transport was the top spending category, with an average of £79.70 shelled out a week on transport between April 2016 and March 2017 – an...

Bitcoin and the Central Banks

2017 marked the year that the bitcoin finally entered the mainstream. If you’re the kind of early adopter who stays on top of the latest trading technology or the gradual shift away from standard currencies then you’ve been aware of the bitcoin and other digital currencies since they began to emerge shortly before 2010. This year, however, was the point at which bitcoins began to be discussed and considered by the kind of people who wouldn’t normally consider anything more...

How to get a clear idea about the Forex trading industry

Trading is often considered as the most sophisticated business in the whole world. You might all the money in the world but if you trade in the wrong way then you will lose all your trading capital. It’s like running the most complex business in this modern era. But this doesn’t mean that you will have trade the market with a very complex trading system to make money. If you know the right path then even with a simple trading...

The risks, benefits related to CFDs

You are already aware that CFDs are flexible and easy to trade. Due to the flexibility most of the people are interested in trading it but the problem most of the people who are interested in trading are new to the market. As they are new to the market they do not understand the way how the market works. If you consider the traders in the United Kingdom they are experts in trading because they have been learning the market....

Banks set to run away with billions of pounds in PPI compensation money

Billions of pounds worth of compensation money is at stake because most Brits don’t know when the PPI claims deadline is, a financial specialist has claimed. More than 80 per cent of people in the UK are unaware they have just over a year left to claim for mis-sold payment protection insurance (PPI) before a looming cut-off date. Just 12 million people have claimed for the toxic financial product out of around 64 million policies sold, the authorities say. And...

Financial audit insights for small businesses in London

Capital and revenue are the lifeblood of any modern small business, to ensure day to day continuity and in supporting growth and expansion plans. It’s for this reason that financial statement audits are crucial. Operating a small business in London is a continually challenging task with great responsibility, so there is a pressing need for effective management of resources and oversight. Financial audits not only act as a vital asset for highlighting problems and evaluating performance, but also for ensuring...

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