Financial Support Experts Raise Concern For Festive Financial Struggles As Average Household Debt Stands At £9,000.

 

As it’s revealed that the average household debt in the UK has reached £9,000, one financial support network has raised their concerns as we enter the festive season.

Typically the most financially demanding month of the year and with outstanding personal debt set at £1.451 trillion at the end of December last year, a correlation is expected between Christmas spending and financial concerns.

However with the average family spending between £530 and £682 on gifts, decorations, food and drink,  advisors in the finance industry have acknowledged this increased, short term demand for extra money at this time of year.

Financial advisor Kristjan Novitski from Peachy says, “At the end of the year spending is bound to rise a lot and people are in a need of extra cash.

“Although it is not sensible to borrow huge amounts of money with long term obligations or roll-overs, we acknowledge that for some, seeking support may seem like the only option.

“Whilst we would advise anyone taking out any loan to consider it carefully, choosing options where you decide at the beginning when exactly you pay the money back and in how many installments are always favourable. Peachy strives to implement this approach, and work alongside people to help them manage their finances flexibly and plan their future costs.”

So with almost a quarter of parents admitting they are planning to spend more on children’s presents this year than they did last, it is clear that tough economic times are not deterring British Christmas spirit.

And with this in mind, Peachy is encouraging people to follow suit and manage their finances over Christmas so as to avoid the headache of consolidating in the New Year.

 

What To Bet On In 2013

FANCY A FLUTTER IN 2013? LOOK NO FURTHER  

 

Now that we know the world did not end and we are post the potential apocalypse, the prospect of a new year brings a satisfying dollop of uncertainty and mystery surrounding life’s important matters. Who will judge next year’s X-Factor? Will there even be an X-Factor next year? What colour hat will the queen wear at Ascot? What colour hair will the new royal be blessed with?

 

While 2013 is somewhat lacking in the trouser department compared to the major sporting, political and cultural events we’ve been spoilt with recently, there’s still plenty of going-on’s to get your knickers in a twist.

 

Whether you fancy a flutter, or just have lots of space to fill in between Christmas and New Year,  Paddy Power has given Frost a guide to nearly everything and anything that may or may not happen in 2013.

 

 

ROYAL BABY

Forget 2012 and the Olympics, Ryder Cup and Jubilee, 2013 is all about Kate, Wills and the little‘en. If you can think of it, we’ll take bets on it.  Victoria is the current joint 5/1 favourite name having started life at a lofty 20/1. George leads the way for boys ahead of 50/1 Paddy.

 

Royal Baby Name5/1 Elizabeth

5/1 Victoria

8/1 George

9/1 Diana

 

10/1 Mary

16/1 David

50/1 Paddy

500/1 Britney

 

Hair colour 13/8 Brown

2/1 Blond

2/1 Black

6/1 Ginger

 

Multiple birth 6/1 Twins

50/1 Triplets

1000/1 Quads or more

 

 

 

OSCARS

The Oscars race is well and truly on. For about five minutes it looked like ‘Argo’ had Best Picture all sewn up, cruising to the finish on strong reviews and decent box office. However, with a lap still to go, Affleck’s thriller looks to have peaked too soon and run out of puff with ‘Les Misérables’, ‘Lincoln’ and ‘Zero Dark Thirty’ now looking unbeatable for Best Motion Picture. Meanwhile staying on planet movie, Paddy Power has tipped the Hobbit to be the highest grossing movie of 2013.

 

Best Picture 5/4 Lincoln

2/1 Les Miserables

3/1 Zero Dark Thirty

9/2 Argo

14/1 Silver Linings Playbook

 

Best Actress4/9 Jennifer Lawrence

9/4 Jessica Chastain

12/1 Emmanuelle Riva

20/1 Helen Mirren

40/1 Judi Dench

Best Actor 2/7 Daniel Day Lewis

6/1 Denzel Washington

7/1 Hugh Jackman

40/1 Anthony Hopkins

100/1 Daniel Craig

Best Director13/10 Steven Spielberg

15/8 Argo

5/2 Kathryn Bigelow

8/1 Tom Hooper

33/1 Peter Jackson

Top grossing Movie of 20132/5       The Hobbit: The Desolation Of Smaug

9/4       Man Of Steel

12/1      Iron Man 3

16/1      Jack The Giant Slayer

20/1      The Hunger Games: Catching Fire

 

SOLAR FLARE

Maybe the Mayans were onto something after all. Forget a plague of cancers, super volcanoes or dark comets laying waste to everything on earth, 2013 could be the year in which we’re paralysed by a catastrophic solar flare causing blackouts and global chaos. The once-in-a-century disaster could see power grids crash, communication systems collapse, planes grounded, food supplies hit and the internet shut down.

 

1/25 UK national grid to blackout for a day or more

5/6 UK citizens to see a bright red haze

5/1 cost of solar flare damage to exceed $1 trillion

16/1 that we will see the biggest solar flare / geomagnetic storm on record

33/1 World debt to be wiped out

 

 

UK POLITICS & CURRENT AFFAIRS

Cameron’s coalition looks to be weakening by the day. With a general election to start thinking about and the Lib Dems languishing behind UKIP in the polls, Paddy Power’s 4/1 for the coalition to split in 2013 could prove a juicy punt.  Meanwhile money continues to trickle in on whether 2013 will be the year for Julian Assange to have a change of scenery, 11/8 says he’ll still be holed up at the Ecuadorian Embassy in 2014 and it’s 100/1 for him to escape via jetpack.

 

UK Politics – 201310/3 Any of the main three leaders to leave their post

4/1 Coalition to break up

4/1 General Election to be held

8/1 UK Referendum on EU Membership

Negative growth in Q1 or Q22/7 Yes

9/4 No

 

EU – 20139/4 Any country to leave the Euro

9/4 Any country to leave the EU

16/1 Euro to cease to be a currency

Julian Assange – Method to leave Embassy11/8 UK police car

4/1 helicopter

6/1 Diplomatic bag

25/1 Hot air balloon

 

US POLITICS

US politics poses two big questions for 2013. Will the economy suffer negative growth? Help yourself to odds of 2/1 for yes and a safer 1/3 for no. And will Wintour descend upon the UK in 2013? She is just edging behind favourite Matthew Barzun in the betting for the next US Ambassador to the UK.

 

Fiscal CliffWill there be a quarter of negative growth in 2013?

2/1       Yes

1/3       No

 

Next US Ambassador to UK10/11    Matthew Barzun

3/2       Anna Wintour

6/1       Marc Lasry

 

2014 Mid Term Elections: Control of House of Representatives

2/5       Republican

7/4       Democrat

 

 Control of Senate

5/6       Republican

5/6       Democrat

 

 

COMMODITIES

Given world events in 2012 – continued tensions across the Middle East, financial crisis in the Eurozone and economic stagnation in the West – you can bet your bottom dollar the price of gold will continue to rise as investors seek a safe haven for their hard earned cash. How high is anyone’s guess. Paddy Power is offering 5/6 the price of gold will exceed $1750 by the end of 2013. Meanwhile we’re offering 9/2 for the price of gold to hit the magic mark of $2000 any time throughout the year.

 

Price of gold at year end 5/6 Under $1750

5/6 Over $1750

Golden Year 9/2 Price of gold to hit $2000 any time in 2013 Price of oil at year end 4/5 Under $105

10/11 $105 or over (Brent Crude)

 

 

HATCHES, MATCHES & DISPATCHES

Whilst England fight the Aussies to retain the Ashes urn next summer, another national treasure may be lost to the convicts as Liz Hurley and Shane Warne head up the betting for our ‘First to get married’ market at evens.

 

First to get married1/1       Liz Hurley & Shane Warne

7/4       Kate Winslet & Ned Rocknroll

6/1       Eva Mendes & Ryan Gosling

8/1       Kristen Stewart & Robert Pattinson

10/1      Nicole Scherzinger & Lewis Hamilton

40/1      Taylor Swift & Harry Styles

 

First to announce they are having a baby11/10    Zara Phillips & Mike Tindall

7/1       Kate Moss & Jamie Hince

7/1       Justin Timberlake & Jessica Biel

9/1       Angelina Jolie & Brad Pitt

10/1      Frank Lampard & Christine Bleakley

10/1      Holly Willoughby & Dan Baldwin

 

First to split3/1       Kim Kardashian & Kanye West

4/1       Jennifer Aniston & Justin Theroux

5/1       Liz Hurley & Shane Warne

6/1       Kate Winslet & Ned Rocknroll

6/1       Kristen Stewart & Robert Pattinson

10/1      Justin Timberlake & Jessica Biel

 

UK WEATHER

The UK is renowned for its unpredictable weather, and 2013 is set to be no different. Strangely, next summer is as likely to be the wettest on record as it is the driest, with both available to back at 6/1. Those dreaming of soaking up the rays on their local beach rather than the water on their kitchen floor can take 8/1 that next summer will be the hottest on record.

 

8/1       Hottest on record in UK

6/1       Driest on record in UK

6/1       Wettest on record in UK

9/1       Coldest on record in UK

 

FHM SEXIEST WOMAN

Having inexplicably voted for Tulisa Contostavlos in 2012, the FHM readers are once again being entrusted to choose the magazine’s Sexist Woman for 2013. Mila Kunis is the strong favourite at 5/2 whilst you can get 16/1 that Helen Flanagan’s ball-chewing jungle experience earns her the crown.

 

5/2       Mila Kunis

8/1       Kate Upton

8/1       Jennifer Lawrence

14/1      Nicole Scherzinger

 

 

ON THE BOX

In the fickle world of TV, Simon Cowell may bring himself back into the UK X Factor fold in 2013. The race to be the next host of Strictly Come Dancing appears to be a two-way battle between Anton Du Beke at 13/8 and Vernon Kay at 15/8.

 

Next Host Of Strictly Come Dancing13/8      Anton Du Beke

15/8      Vernon Kay

9/2       John Barrowman

7/1       Graham Norton

16/1      Ben Shepherd

 

Who will be on the 2013 X-Factor judges’ panel?1/3       Louis Walsh

2/5       Tulisa Contostavlos

2/5       Nicole Scherzinger

2/3       Gary Barlow

8/11     Simon Cowell

8/1       Cheryl Cole

 

Household spending edges higher, while spending patterns differ by income

The ONS recently revealed their latest report and Frost Magazine found it very interesting. As the seemingly never ending recession kicks our butts, the facts are that we are spending more and more. Check out the survey below.

 

Family Spending, the annual report from ONS on household expenditure in the
UK, found that in 2011, average UK weekly expenditure rose to £483.60, an
increase of £10.00 on the level recorded for 2010. The 2011 average
expenditure is the highest recorded by Family Spending.

Spending was highest on the transport costs category at £65.70 per week, up
80p from the previous year. Over half of all transport (£36.40) was on
running costs, which rose by £3.10 (an increase of nine per cent, following
last year’s 14 per cent increase). Most of the increase in running costs
was due to spending on fuel, as petrol, diesel and other motor oils
increased by £3.30. Higher expenditure on personal transport was also
reflected in vehicle insurance (£9.40 in 2011 compared with £8.00 in 2010).
On average, household expenditure was more than twice as much on
second-hand cars (£12.90) as new cars (£5.50). Unlike most types of
transport expenditure, spending on new cars decreased in 2011, from £6.50
per week in 2010.

The second highest expenditure category was recreation and culture (£63.90
per week). There was a small decrease in expenditure on audio-visual
equipment (including computers) averaging £6.30 per week in 2011 compared
with £7.20 in 2010. Spending on many recreation items remained fairly
constant, including games and toys (£2.20) and garden equipment (£2.60).
Spending on newspapers, books and stationery was similar in 2011 at £5.70
per week. However, there was a small increase in spending on recreational
services, including cinema tickets, leisure classes and admission to
sporting events, from £17.80 to £19.80. A weekly average of £4.00 was also
spent on pets and pet food. Average expenditure levels in the third highest
category: housing, fuel and power increased to £63.30 in 2011 from £60.40
in 2010. This was partly due to an increase in maintenance and repair of
dwellings, which rose by £1.00 to £7.70. Gross rent rose by 70p in 2011, to
£40.60. Average expenditure on electricity, gas and other fuels was £22.10
per week, an increase of 70p.

Weekly household expenditure on food and non-alcoholic drinks increased
from £53.20 in 2010 to £54.80 in 2011. However, the amounts spent on fresh
fruit (£3.10) and vegetables (£4.00) were unchanged.

Some types of expenditure decreased in 2011. This was notable for household
goods and services, which saw a drop of £4.10 to £27.30. This was mainly
due to a decrease of £2.80 in spending on furniture, to £13.80. Expenditure
on clothing and footwear was also lower in 2011 than in 2010, decreasing by
£1.70 to reach an average weekly expenditure of £21.70; of this decrease,
£1.00 was in clothing, which fell to £17.60. Spending on men’s outer
garments decreased by 60p to £4.20, while spending on women’s outer
garments fell by 70p but remained much higher than men’s at £7.70 per week.
Footwear for adults decreased by 40p in 2011, men’s footwear fell by 10p to
£1.30 and women’s fell by 30p to £2.10.

There were notable differences in expenditure patterns by income, seen by
comparing the ten per cent of households with the lowest incomes and the
ten per cent of households with the highest incomes. The lowest-income
group spent a larger proportion of their total average weekly expenditure
on housing, fuel and power (23 per cent), and food and non-alcoholic drinks
(16 per cent), than those in the highest income group (8 per cent in both
expenditure categories). Households in the highest income group spent a
greater proportion on transport (16 per cent) and recreation and culture
(14 per cent) than those in the lowest income group (7 and 10 per cent
respectively). Differences by income were also evident for internet access,
with 41 per cent of households in the lowest income group having access to
the internet at home, compared with 99 per cent of the highest income
households.

Overall, average household expenditure in the UK was £470.70 per week for
the years 2009–11 combined. There were five regions in which expenditure
over this period was higher than the UK average: expenditure was highest in
London (£574.90 per week), followed by the South East (£539.30), the East
(£497.10), Northern Ireland (£489.40) and the South West (£479.90).
Spending was lowest among households in the North East (£384.20 per week),
Wales (£398.20) and Yorkshire and the Humber (£410.10).

The high spending of London households of £574.90 was partly due to the
housing, fuel and power category, £91.30 per week, compared with the UK
national average of £60.30 per week. Households in rural areas had higher
overall expenditure (£510.50 per week) than those in urban areas (£458.30
per week). This was reflected in expenditure on transport, where spending
was highest (£77.40 in rural areas and £58.80 in urban areas), and
recreation and culture (£68.80 in rural areas and £57.20 in urban areas).
However, expenditure on the housing, fuel and power category was higher in
urban areas (£61.30 per week) than in rural areas (£58.30 per week).

Read the full report at
http://www.ons.gov.uk/ons/rel/family-spending/family-spending/family-spending-2012-edition/index.html

Equal Education Unequal Pay

It’s 2012 and close to four years after the Lilly ledbetter Fair Pay Act was signed into law. Surely, the gender wage gap has been closed, right? Wrong.

Even with moves toward equalizing pay between men and women, men still make almost 20% more than women in nearly all industries. This is despite the fact that women receive the same education, with the same tuition price tags and levels of debt upon graduation. The only major differences are that there are more ladies in college and they have better average GPAs to boot. The benefits of paying women their fair share include increasing the GDP while reducing the poverty rates for families.

Check out the infographic below to see what else the gender wage gap affects.

Equal_Education_Unequal_Pay

Equal Education Unequal Pay by LearnStuff.com

Gym Expenses: Growing Interest Means Growing Costs

With the London Olympics and the European Football Championships taking place this summer, and the World Cup coming up in 2014 plus ongoing sporting events such as Test cricket and motorsport to name a few, the price of participating in sport has been forced to rise with teams and facilities taking advantage of the increased numbers of people coming through the doors, a stark contrast to how things were as little as two years ago in many cases. Continue reading

Living On A Budget

Times are tough and very few of us have cash to splash. So here are some tips to make your money go further.

Go To Markets

  • Check if you have a local market near you. The food sold there will most likely be a lot cheaper and fresher than a supermarket and you can pick up some real bargains.
  • Buy fruit and vegetables that are in season. These are normally much cheaper as they haven’t had to be imported.

Scout The Supermarket

  • If you don’t have access to a market, then go to a large supermarket, rather than a smaller ‘express’ one, as it will have a much wider selection of products.
  • Write a shopping list to avoid impulse buying and plan meals, so you won’t arrive home with just a random assortment of ingredients.
  • I highly recommend checking out the reduced section, as you can find some amazing items at rock-bottom prices.
  • Don’t be afraid of economy food; the majority of it doesn’t taste too different to the more expensive brands and they can be less than half the price.
  • Look out for special offers and if you can, stock up on foods that keep, such as pasta, rice and tins, whilst they’re cheap.

On Your Bike

  • If you live in a city, cycling is normally quicker than public transport and buying a bike can work out significantly cheaper than paying for a travelcard each week. Have a look in a second-hand bike shop and you should be able to find a decent one for about £100.
  • Having a car gobbles up money, with the rising petrol prices, insurance and road tax you can find yourself spending a fortune. Think about whether you really need a car, as not having one could save you a lot of money.

Check Out Offers

  • When buying something, do your homework to see if it’s cheaper elsewhere or online.
  • Have a look for special offers. Companies want to entice you in, so see what they are offering, whether it’s a half price hair cut or a free eye test.

Do It Yourself

  • A great money-saving tip is to do things yourself rather than paying other people to do them. Whether it’s decorating or cleaning, it’s much cheaper to get your hands dirty.

Prioritise

  • If you can’t afford to do everything that you want to do, you need to prioritise and decide what is most important to you. Budget how much you can afford to spend after paying for food and rent and other necessities.

Get Creative

  • For a friend’s birthday splashing out on a card, present and cake can easily add up to quite a bit. However, with a bit of creativity you could make the lot yourself for a fraction of the price. Why not make them a personalised cd? It’s cheap to make, but there’s a lot of thought and effort behind it.

On the go

  • Buying convenience food can be extremely costly and really does add up. It is much cheaper to buy a bulk of ingredients and prepare a lunch each day.
  • Carry a water bottle with you to refill rather than buying a new one.

Spend wisely and live well!

 

New app shows women how to man up in time for EU gender directive

On 21st December the EU gender directive comes into force which means car insurance companies will no longer be able to differentiate between men and women. So does this mean the European Union now believes women are no different to men?

Now women can see for themselves what it would be like to live life as a man with the Manify Me smart phone app. Women’s car insurance specialist, Diamond has worked with Rantmedia to develop the app which takes a headshot of a woman and ‘manifies’ her into a man. So Katy Perry could become Keith, Cheryl Cole could become Charles and Holly Willoughby could become Harry.

Dave Halliday, Diamond managing director, said, “Despite evidence to the contrary, the EU insists that men and women are the same, so we thought we’d take the idea one step further and allow women to see what they would look like if they were a man.

“Unfortunately for young women, the EU’s change to the law is likely to mean higher insurance premiums because from a risk point of view, women will have to be treated the same as men, and young men in particular have the worst driving record and are the highest risk.”

Diamond’s own statistics clearly show that young women have a safer driving record than young men. Men under 21 are four times more likely to have a dangerous driving conviction than women under 21. While on average accidents involving men under 21 cost 48% more than those involving women of the same age.

Despite the EU’s assertion that men and women are the same, most women clearly don’t feel the same. Diamond surveyed 1,000 women aged under 30 on the issue, 72% said they believe men and women drive differently, while a massive 83% believe men and women think differently.

The Manify Me app is available for Android phones and can be downloaded from Google Play.

 

StartUp Saturday launches: Start your business in a day

 

Enterprise Nation have announced the national expansion of its successful StartUp Saturday one day workshops to help thousands more people turn an idea into a business and become their own boss!

For budding entrepreneurs who haven’t been able to attend the monthly workshops in London, StartUp Saturday classes are now coming to a town near you with Birmingham and Morecambe as the first two launch locations.

The ‘start your own business in a day’ workshops will be hosted and delivered by talented and entrepreneurial StartUp Saturday franchisees. Until now, the one-day workshop that offers everything you need to know about starting a business has been delivered by Enterprise Nation founder, Emma Jones, in London. Jones says: “Based on feedback from small business owners around the country, we are spreading our wings and will be coming to locations nationwide.”

The first StartUp Saturday franchisee is Enterprise Nation community member Rickie Josen.

Rickie Josen will be launching her first session at Hotel La Tour, Birmingham on Saturday 22nd September. Rickie has been self employed since 2004 and has run two different businesses during this time, with her last few years being focused on organising events and training alongside writing.

“My motto is that knowledge is gained to be shared and I love passing on knowledge, especially when it means people can get to the information sooner than I did when starting out in business. I would have loved to have attended a StartUp Saturday when I was starting out back in 2004!” says Rickie

“Enterprise Nation has been a place for me to turn since it launched and over the years I’ve enjoyed contributing by writing about my love of being self-employed. It’s the first place I suggest new businesses turn so it makes perfect sense for me to be a StartUp Saturday franchisee!”

Following a successful launch of workshops in Birmingham, StartUp Saturday will continue to expand to new locations with a vision of having weekly workshops up and down the UK!

Rickie can be contacted on write@rickiejosen.co.uk or on Twitter @RickieWrites

To book your place, please visit:

London: http://startupsaturday2012.eventbrite.com/

Birmingham: http://startupsaturdaybirmingham.eventbrite.com/

Morecambe: http://startupsaturdaymorecambe.eventbrite.com/

If you are interested in becoming a franchisee, please visit www.enterprisenation.com/startupsaturdayfranchise for details