Financial literacy

[AndyWolves]

https://twitter.com/x/status/1970452042847031470

Bend over

 

[AndyWolves]

This is a really helpful video explaining how compounding works

Probably a bit late for most of us but share the knowledge with kids & grandkids etc

 

[AndyWolves]

Also, rinse the bank switching offers available. It's free money and can be obtained by creating "burner" current accounts.

If you need Direct Debits setup Plum and MoneyBox - they will take really small sums

You can more than pay for a season ticket doing this.

 

[Hereford Wolf]

I was really lucky. Whilst I was always financially savvy, I could never find a good, well paid career.
I worked for loads of companies before I was 40yo, and always joined the pension schemes.

Finally found my calling at 43, company with a brilliant Final Salary Scheme. I rounded up all my other pensions and they added about 8 years to my new pension. Retired at 63, with 20 years contributions, plus my other 8 years and I also had a massive pay rise in my final two years.

So I ended up with a nice ( not massive, but nice) private pension, and added to my state pension I am reasonably comfortable. My wife also retired at 55 with a Civil Service Final Salary pension.

I know we are the lucky ones. Those Final Salary Schemes have virtually gone.

I say to my daughter (who is also financially savvy)….that she will be in her 60’s before she knows it.
Save, save, save. It’s worth it.

 

[Elephant Pyjamas]

Also, rinse the bank switching offers available. It's free money and can be obtained by creating "burner" current accounts.

If you need Direct Debits setup Plum and MoneyBox - they will take really small sums

You can more than pay for a season ticket doing this.

Absolutely, they seem to be getting alive to this though with monthly charges for using accounts - obviously stay away from those!

Stoozing is working well for me over the last few years, I use 0% credit cards for all my bills and day to day life, make sure I make the minimum payments, and put the money that I would have spent in high interest savings accounts earning me interest.

Obviously pay it off or transfer the balance before the 0% ends.

Just need to have your wits about you, but it can generate a fair few quid a year, certainly enough for a holiday.

 

[Tredman]

{snip}
Save, save, save. It’s worth it.

I take your point, but part of the despondency is that the previous generation (as you have illustrated) did not have to do that, while those who are still working are locked into ever increasing tax burdens - a very large amount of that going towards maintaining the pension triple lock for that same generation.

 

[AndyWolves]

Also, rinse the bank switching offers available. It's free money and can be obtained by creating "burner" current accounts.

If you need Direct Debits setup Plum and MoneyBox - they will take really small sums

You can more than pay for a season ticket doing this.

I just had confirmation I'll be getting a £400 switching bonus in the next 10 days. Just in time for christmas!

 

[lemonjelly]

the guardian has an interesting tool to check changes to your local high street:
https://www.theguardian.com/busines...street-changed-since-2019-check-your-postcode

what amazed me when I did it, is in my area(s) there has been a 200% decrease in cashpoints (19 removed) and a 91% reduction in bank services available.

 

[Del Woppio]

This didn't surprise me:

34 barbers and hairdressers, 55% up from 22 in 2019

 

[lemonjelly]

yeah, I had similar too.

 

[Kenny]

Market Drayton.

Alcoholics but we look smart

30 barbers and hairdressers, 11% up from 27 in 2019

12 pubs, bars and inns, 33% up from 9 in 2019

 

[Tredman]

See your Market Drayton and raise you in Stafford. No idea where all these new pubs are though

57 barbers and hairdressers, 16% up from 49 in 2019

21 pubs, bars and inns, 75% up from 12 in 2019

 

[EpsomWolf]

Banks down 8%, cash machines 15%, bookmakers 50%, clothing 38%, opticians 20%.

Barbers up 12%, restaurants 30%, pubs, bars, 44%, gyms 67%, dept stores 50%.

Not sure what to make of that but I suppose the good news is the relative vacancy rate is 1%.

Funnily enough been researching Epsom’s history a lot recently and photographs show the current high street is an urban-planning masterclass in how to prioritise vehicles and turn somewhere quite pretty into a complete dog’s dinner. No doubt loads of places have gone the same way over the decades but have to concede it’s time to do something about that.

 

[Elephant Pyjamas]

Worcester.

It's like the barbers are taking the piss out of me

 

[Wilf Wolf]

See your Market Drayton and raise you in Stafford. No idea where all these new pubs are though

57 barbers and hairdressers, 16% up from 49 in 2019

21 pubs, bars and inns, 75% up from 12 in 2019

Must be in the very centre. Places like Verso Lounge and The Liquor Tank.

 

[Tredman]

Must be in the very centre. Places like Verso Lounge and The Liquor Tank.

Its weird though, that 12 number seems massively wrong. I reckon I could name more than 20 off the top of my head.

 

[Lupo]

Bridgnorth

Here's what's up and down in your local area**:​

Going up​

29 barbers and hairdressers, 16% up from 25 in 2019
14 cafes, snack bars and tea rooms, 8% up from 13 in 2019
4 optometrists and opticians, 33% up from 3 in 2019
2 florists, 100% up from 1 in 2019

Going down​

18 pubs, bars and inns, 14% down from 21 in 2019
11 clothing, 21% down from 14 in 2019
3 banks and building societies, 25% down from 4 in 2019

 

[sycophantia]

You lot need to up your quota of Charity shops.

 

[Wilf Wolf]

Its weird though, that 12 number seems massively wrong. I reckon I could name more than 20 off the top of my head.

Guess it depends on how far from centre.