Put aside savings to secure future plans
WELCOME to the column by Clarke Nicklin Financial Planning, accountants and financial advisors based in Stockport.
Scott Herbert, partner and independent advisor, highlights the importance of saving money for the future.. THE gap between the fortunes of savers and non-savers continues to widen, and research* supports these findings.
‘Habitual savers’ continue to put away more for a rainy day, but the total number of people saving has fallen and, despite improvements to the economy, one in five people in the UK have no savings at all.
It’s a fact that the number of people in the UK with no savings at all has risen year-on-year from eight million to more than nine million, or one in five of the UK adult population.
For those who are managing to save, the average amount that people have in savings increased by £175 in 2013 in comparison to the previous year, from £10,033 to £10,208.
The total number of people who are managing to save something has dropped from 14.8 million to 14.4 million (31 per cent and 30pc of the adult population respectively), and more than half (54pc) of those surveyed said they were saving less than they did two years ago.
Many people are still only thinking in the short term – 48pc said they prefer to spend their money rather than save and invest, and 64pc said they know they are not saving sufficiently for their long-term needs.
Start saving today for a more secure financial future! * SCOTTISH Widows Savings Report, March 2014 (excludes the 12pc minority that have over £50,000 in savings).
Clarke Nicklin financial planning is a trading name of CNFP LLP.
CNFP LLP is a Ltd Liability Partnership registered in England and Wales No. OC324909.
CNFP LLP is an appointed representative of Lighthouse Advisory Services Ltd which is authorised and regulated by the Financial Conduct Authority.
DEAR Elaine, I have a four-year-old husky/Alsatian crossbreed dog named Apollo. Due to ill health I’m struggling to walk him, so I’m getting a volunteer to help me. How much exercise should he be getting? The amount of exercise a dog needs is different for each dog and depends on age, size, breed and health. Older dogs often exercise less, and if they suffer from arthritis they may benefit from shorter, more frequent walks rather than one or two long ones. Huskies are very energetic and require lots of exercise, so it’s likely Apollo will need at least 90 minutes to two hours of exercise a day. I’d recommend you ask your vet about Apollo’s specific needs next time you take him in for a check-up.
DEAR Elaine, How often should I feed my hamster, and how much? Does this vary between the different types of hamster? The average dry food intake of a golden hamster is about five to 10 grams twice a day and the best diet is hamster food you can get from reputable pet shops. Feed the commercial hamster mix twice daily, morning and evening, and remove any uneaten food. You can add small amounts of fresh, well-washed fruit and vegetables each day, plus protein like cottage cheese once or twice a week. There are slight differences in hamster diets, for example Roborovski hamsters originally came from a desert, so they need water available at all times, but too much green food with high moisture content can upset their tummy.
For more details on PDSA Pet Aid Services call 0800 7312502. To donate or fundraise visit www.pdsa.org.uk.
Scott Herbert, partner and independent advisor, Clarke Nicklin Financial Planning