Admin_control, Author At Finance Digest

Arlington Creates Strategic Partnership With Pensions Infrastructure Platform

Boosting business growth with pension funds

By Adam Tavener, chairman of Clifton Asset Management and Alternative Business Funding (ABF) Since Pension Freedoms was introduced four years ago, we have seen how one...

NEARLY 40% OF MILLENNIALS DON’T HAVE ENOUGH MONEY TO INVEST IN THEIR FUTURE - New survey finds that 39% of 25-34 year olds have no money left at the end of the month to invest in personal interests, savings or investment opportunities - A new survey conducted by The Resort Crowd shows that two in every five 25-34 year olds have no money left at the end of the month. The overseas property investment crowdfunding platform recently conducted the survey asking how 2,008 male and female millennials spend their last £50 as the month draws to a close. Just 2.5% of the respondents said they invest this money into investment schemes, whilst 14.44% put that £50 towards their personal savings. Alongside this, results also show that millennials are spending more on instant gratification than saving for their future, with over a quarter of the millennials forking out on health, beauty, lifestyle, clothing, travel and entertainment. The survey highlighted gender spending differences; with more millennial men (4.1%) donating to charity compared to women (1.6%), and women spending over 10% more on clothing and lifestyle (19.3%) than their male counterparts (8.9%). Kim Collier, operations director for The Resort Crowd, said: “It’s unsurprising that young people are finding it increasingly difficult to save, with figures showing average student debt now sitting at £44k. However, in these times of economic difficulty and rising cost of living, it’s more important than ever that millennials be putting money towards investment schemes which will help pay dividends in their future.” A higher percentage of 25-34 year olds are donating their spare money to charitable causes rather than investment opportunities that would potentially benefit their own future, with 2.8% donating to charity and 2.5% putting the money towards investment opportunities. GethinNadin, director of global partnerships at Benefex, said: “Millennials’ social conscience is typically strong; this affects who they work for, and in which sectors. However, the financial state of the nation is not helping people to get out of debt and into savings and investments. The average debt of Generation Z is over £3,000. 48% of young people aged 18-25 have debts outside of student loans and mortgages, and 47% of millennials spend half of their monthly pay on debt.” Michelle Pearce, chief investment officer at Wealthify, added: “The fact that more millennials don’t embrace investing is a huge missed opportunity and a crying shame, since as a group, they have a distinct and unassailable advantage over their older counterparts, namely time. Even with modest incomes and limited disposable income, it should be possible to put something away each month and by starting investing little and often today, they could give themselves a huge financial advantage later in life.”

BUSINESS3 years ago

Compare By Review Launch Niche Comparison Site In The UK

Meet the direct-to-consumer startup disrupting the comparison industry Compare By Review is the first and only comparison site which ranks providers based upon customer experience and...

FINANCE3 years ago

How you can make more money online

Who doesn’t want to make more money? Peter Watton, from matched betting service OddsMonkey, told us the top ways that we can earn some extra cash...

NEWS3 years ago

Funding Options bolsters senior team with appointment of new Commercial Director

Funding Options, the UK’s leading online marketplace for business finance, today announces Simon Cureton has been appointed as its new Commercial Director. Simon will be responsible...

Open Banking why cloud is key to FS innovation

BANKING3 years ago

Open Banking: Slow and steady wins the race

What UK Open Banking can learn from deregulation in the UK energy and telecoms sector By Lu Zurawski, Consumer Payments Practice Lead, ACI Worldwide When Open...

How to enhance banking services with digital performance intelligence

BANKING3 years ago

Fiserv Survey Shows Digital Services Key to Customer Loyalty

Banks and building societies that deliver connected digital experiences are positioned to empower and retain customers in the ‘always-on’ financial services landscape Banks and building societies...

TECHNOLOGY3 years ago

The Expansion Journey: Insights from a Fintech

By Conrad Ford, Founder and CEO, Funding Options There’s no doubt that the UK, and specifically London, remains Europe’s fintech capital thanks to a skilled workforce,...

ZPER Secures Crypto Mobile Wallet with Trustonic

BANKING3 years ago

Easy as AMP: how Experian tapped into mobile-first consumer behaviour

By David Black, Managing Director, Financial Services, Google UK Things have changed in the banking and financial services industries. American author and banking guru Jim Marous...

BANKING3 years ago

Challenger banks aren’t that different after all

By Andrew Mitchell, VP Development and Infrastructure Support at JCB International The financial landscape is changing at a dizzying pace. In a sector purposefully designed around...

FINANCE3 years ago

The Cost of Buying a Leasehold: Why Can it Cost More in Conveyancing Fees?

In both England and Wales, the two primary types of property ownership are leasehold and freehold. The difference between both, in shorter terms, is all down...

BUSINESS3 years ago

The changing focus for CFO’s

By Nick Swarbrick, Finance Director at Datel There was a time when finance was seen as a functional necessity to a business rather than a hub...

Three negotiation tactics for small businesses

BUSINESS3 years ago

Nine key factors to maintaining payment security compliance

By Gabriel Schild, Executive Director Digital Business Transformation at Verizon Consumers and suppliers both trust brands to effectively secure their payment data, however research shows that...