Put aside sav­ings to se­cure fu­ture plans

Stockport Times West - - FINANCIAL PLANNING -

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

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