 |
 |
By Julia Kukiewicz Staff Writer
Friday, 17 April 2009
|
Money News Roundup
If you only do one thing with your money this week...
The new tax year has started, and you can now save an extra £3,600 in a cash ISA (plus an extra £3,600 in a stocks and shares ISA too).
Read our simple guide to ISAs here.
Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (10 APR 09)
Find out why many Brits fear that they won't be able to pay their fuel bills this year, just how bad the sexist City really is and how to spend abroad this Easter in this week's money news with Julia Kukiewicz.
Money News Roundup (03 APR 09)
Find out when credit card companies have to help disappointed consumers, how you can make money by doing nothing on a fake spaceshipand what the financial forecast is for the next three months from the G20 summit in this week's money news roundup with Julia Kukiewicz.
Money News Roundup (27 MAR 09)
Find out how the credit crunch is dangerous for pets, what voucher code websites are doing wrong and how much the UK could save with 0% balance transfer deals in this week’s money news roundup with Julia Kukiewicz.
Money News Roundup (20 MAR 09)
This week in money news find out how you can make money from broken jewelry, why credit cards are changing and what is so confusing about insurance renewal forms with Julia Kukiewicz.
|
BOOMERANG kids, the booming business of credit crunch predictions and how employee's of Swansea's Citizen's Advice Bureau should have taken some advice themselves.
Boomerang Babies
THERE'S been a lot of talk this week about just how expensive it is to have kids. A survey found that a baby costs its parents a massive £18,000 in its first year. Perhaps more worrying though is how long children remain financially dependent on their parents after they've supposedly grown up.
According to the Financial Services Authority it costs £13,912 a year for the average young person to strike out on their own and just over 40% of those surveyed say that they don't expect to be fully financially independent before their 30s.
More people, especially men, are also choosing to live with their parents and the charity Parentlineplus claims that the number of callers concerned about so-called "boomerang kids", who come to live with their parents when they run out of their own money, is on the rise.
The Business of Crunch Prediction
THE credit crunch is over! Oh wait, no it's not. I can see some green shoots! Oh no, wait, I can't.
The disease of businesses that have started to send out a press release every time they record a profit ("sales of peanut butter unaffected by credit crunch!") has spread to the financial sector, especially the property market.
Banks and other companies with a vested interest in property are grasping at any signs of growth and if anyone contradicts them they're a 'doomster' and it’s their fault that the market is falling in the first place.
There are some winners in this situation, however, as Patrick Collinson neatly pointed out in The Guardian this week. PR firms such as Wriglesworth Consultancy who seem to be earning a nice living by arguing both sides of the debate.
Advice to Citizens: Steal
BAD news if you're looking for consumer advice in Swansea, we fear, as it was revealed this week that the town's Citizens Advice Bureau had been ripped off to the tune of £650,000.
Mr and Mrs Forster - the owners of the charity's office - used the money to fund a life of luxury. The couple stayed at the Ritz, took exclusive skiing holidays and spent £2,000 on champagne and £1,300 on... wallpaper.
The couple were traced by Police using their credit card transactions but the couple were finally caught when they tried to quit their jobs at the CAB, possibly in the hope that they could get away with it.
|
