Search your local site:

Tag Archive | "Finance"

Cerebral palsy boy gets on his bike for pioneering op

A boy who cannot walk without a frame is to ride his bicycle in a bid to raise more than £30,000 for life-changing surgery.

Alex McIver, 12, who has cerebral palsy, wanted to help his family acquire enough funds to pay for a pioneering operation in the US.

He will ride his custom-made bicycle around Clapham Common tomorrow, doing a metre for every mile from London to St Louis, where the operation will take place. In total he will cover more than four kilometres.

Source: London Evening Standard>> Read full article and comment

Posted in Charity and fundraising, Disability, FinanceComments Off

Sean Allen’s 21 marathons in 21 days in friend’s memory

A teacher is running 21 marathons in 21 days following the death of one of his best friends from a brain tumour.

Sean Allen, 28, from Cardiff, who had never even run a half-marathon previously, is raising funds for his friend’s 11-month-old son Alexander.

Andrew Mills, who lived in Milton Keynes, fought a long battle against illness before his death this year.

Mr Allen, who moved back to the UK from Australia for the challenge, began his first marathon in Cardiff on Friday.

“Andrew was diagnosed with a third tumour and he lost the use of the left hand side of his body and needed a wheelchair and stair lift,” he said.

“I was initially going to run to raise money for that, but never got the chance to tell him [before he died].

Source: BBC NEWS>> Read full article and comment

Posted in Charity and fundraising, Finance, Internet KidsComments Off

Why a private education may be more affordable than you think

Fees at independent schools are high but there are funds available to soften the blow. By Steve McCormack

In today’s difficult economic climate, it’d be hard to find many households that aren’t feeling the financial pinch. Nevertheless, hundreds of thousands of families still manage to find the money to pay school fees in the independent education sector. The number of children going to the UK’s 2,600 private schools is around the 620,000 mark, which represents 6.5 per cent of the entire school-age population.

And those figures have remained broadly unchanged through the last few, economically turbulent years. The level of fees varies enormously, of course. At the lower end of the scale, a small private primary school, away from London, might cost between £1,000 to £2,000 a term, while sending your secondary-age child to board at one of the prestigious public schools is likely to set you back around £10,000 a term.

Source: INDEPENDENT>> Read full article and comment

Posted in At School, Finance, Independent Schools, LearningComments Off

Muslim students face finance dilemma over tuition fees

Bushrat Almari is from Bradford and is studying for a pharmacy degree at Bradford University.

Like many Asian students in further education she lives with her family and is fortunate that her father can manage to pay the annual £3,000 tuition fees.

But that will change next year when they go up to £9,000, meaning that her sister will be prevented from getting a degree.

As practising Muslims they cannot take out a student loan as it has to be paid back with interest, which Bushrat says is forbidden.

“I follow my faith, so for me taking out a loan, no matter how low the interest rate may be, is just not an option.

Source: BBC NEWS>> Read full article and comment

Posted in Finance, Just for Dads, Learning, TutoringComments Off

No full time jobs for 95% of new teachers – DUP MLA

Up to 95% of new qualified teachers are unable to secure full time jobs according to a DUP assembly member.

MLAs are due to debate concerns over the number of new teachers later.

However the DUP has said there is a massive oversupply of trained students for the limited number of jobs available.

Jonathan Craig, who is proposing the motion, said that only five per cent of those who qualified last year found full time employment.

He said he wanted to know why the number being trained had not been slowed given the fall in the population.

Source: BBC NEWS>> Read full article and comment

Posted in Family matters, Finance, TeachersComments Off

Make sure the school fees are covered in case of catastrophe

Parents with children at fee-paying schools are, with rare exceptions, having to find more than last year. Fees are up by 4.5 per cent to an average £13,179, according to the Independent Schools Council.

These rising bills put pressure on a family’s budget even when income is sufficient. But if catastrophe strikes and the main breadwinner falls seriously ill or dies, the family’s finances and the children’s carefully planned education can be thrown into turmoil. Anna Marshi, 51, who lives in central London, took out insurance that guaranteed to cover school bills for her three children, who were all attending private schools in London, should she or her husband die.

Source: DAILYMAIL>> Read full article and comment

Posted in At School, Family matters, Finance, Independent SchoolsComments Off

Cystic fibrosis cure under threat from £6m cash crisis

Funds dry up as scientists pinpoint effective treatment for cystic fibrosis

A last-ditch effort to save a £36m UK project that is developing a revolutionary treatment for cystic fibrosis is to be launched. Researchers and campaigners say they need to raise £6m in the next six weeks.

If they fail, the project, which has involved more than 80 scientists working in Edinburgh, Oxford and London, will be abandoned, dashing the hopes of thousands of young people with the incurable wasting illness.

The treatment perfected by the consortium’s scientists involves putting genes into the lungs of patients and has passed early clinical trials. But the recession has badly damaged the income of the Cystic Fibrosis Trust, the charity that has funded the 10-year programme. As a result, the funds that are needed to complete the work have dried up – just as scientists have closed in on their goal of an effective treatment.

Source: GUARDIAN>> Read full article and comment

Posted in Charity and fundraising, Finance, Internet Kids, Random articlesComments Off

Celebrity school run chic

Dropping the kids off? Better up your game if you want to keep up with Claudia, Elle, Victoria et al. But how did the busy working mum look become a style statement?

When Allison Pearson wrote her novel I Don’t Know How She Does It – subtitled The Life Of Kate Reddy, Working Mother – nine years ago, it was an out-of-the-box publishing hit. For months it seemed you were never more than 10 paces from a copy. The publishers called it “a comedy about failure, a tragedy about success”. The trials and absurdities of juggling children and a career were a hot topic, from the review sections of every Sunday broadsheet to the sofas of every daytime chatshow.

Nobody, however, called it a style statement. The paperback cover featured an alarm clock, not a high heel; working motherhood was a watercooler debate, not a look. Fast-forward to the release last night of the film of the book. Kate Reddy is played by Sarah Jessica Parker, who as Carrie Bradshaw in Sex And The City gave us the definitive portrait of the noughties Cocktail Girl ideal. Parker plays Reddy for all the world as if she were a Sliding Doors alternative view of who Carrie might be now. Kate has Carrie’s ditzy gestures, her penchant for a very high heel, her uncanny knack for the wistful cab ride that takes you past a glittering Manhattan Christmas tree.

Source: GUARDIAN>> Read full article and comment

Posted in At School, Family matters, Finance, Just Mums, Working MumsComments Off

First free school for Muslims gets the go-ahead amid fears over ‘segregated schooling’

‘Extremely bad news’ say teaching unions

Half of all pupils will be admitted because of their faith.

The first free school for Muslims in the country will open in Blackburn, Lancashire, next year.

The business case for Tauheedul Islam Boys’ School in Darwen has been approved by the Government.

But opponents have described the decision as ‘extremely bad news’ for community cohesion and claim it will deprive state schools of vital funds.

Source: DAILYMAIL>> Read full article and comment

Posted in At School, Finance, Learning, TeachersComments (1)

National Express buys US school bus operator Petermann for $200m

National Express has strengthened its position as America’s second biggest yellow school bus operator with the $200m (£127m) cash acquisition of Ohio-based Petermann Partners.

The deal also brings the UK bus and rail group its first “paratransit” contract – free bus services for the elderly and disabled – which NatEx chief executive Dean Finch sees as a growth area.
“Over-65s in America are set to rise from 40m in 2010 to 80m by 2030, and you need a paratransit contract to get another one,” he said.
Petermann, which was 92.5pc owned by Macquarie Global Opportunities Partners, operates 3,351 vehicles from 66 locations. It had pre-exceptional earnings of $29.3m before interest, tax, depreciation and amortisation (ebitda) in the year to June 2011 on $150m of sales. The deal adds 20pc to NatEx’s US school bus fleet – though it is still less than half that of FirstGroup.
Gert Zonneveld, an analyst at Panmure Gordon, was not alone in saying a 6.8 times ebitda multiple “looks like quite a full price”.

Source: TELEGRAPH>> Read full article and comment

Posted in At School, Disability, Family matters, FinanceComments Off

Parents pay £34bn to support adult children

In past year 13 million parents paid out in loans and gifts to help cash-strapped adult dependants, study finds

While some people are struggling to administer their elderly parents’ financial affairs, spare a thought for older parents who are having to support cash-strapped adult children.

More than 13 million parents paid out £34bn in loans and gifts in the past year to help support their financially embarrassed offspring, at an average £2,480 a year, according to research for Sainsbury’s Finance.

Many of these “adult-dependants” are still financially dependent on their parents well into their forties, a Peter Pan-like generation who will not or cannot become financially self-sufficient.

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Teachers in fresh strike threat over pensions and pay

Unions today paved the way for the biggest teachers’ strike in a generation after more activists threatened to walk out over pension reforms.

The NASUWT has become the latest in a string of classroom unions to propose industrial action amid mounting anger over changes to retirement funds and issues such as job cuts and long working hours.
Unions including the National Union of Teachers and the Association of Teachers and Lecturers have already voted in favour of rolling strikes in an attempt to defeat pension reforms.
It raises the prospect of all three – along with unions representing head teachers – taking co-ordinated action at some point during the autumn term.
The move would be almost certain to close the majority of schools in England and Wales and cause chaos for millions of families.

Source: TELEGRAPH>> Read full article and comment

Posted in At School, Finance, Learning, TeachersComments Off

Half of all student internships still unpaid, survey shows

‘Erosive culture’ persists despite a government-backed code of best practice on paying university students to do work experience internships

Nearly half of all internships undertaken by university students are unpaid, according to latest figures.

A survey by university careers agency Graduate Prospects asked 22,000 UK graduates between 2006 and 2010 if they did any work experience while studying for their degree. More than 70% reported they had secured some form of experience, often by taking on casual paid work. Others did unpaid voluntary work or secured an internship. Of the internships undertaken 43% were not paid.

Chief executive of Graduate Prospects Mike Hill said: “Despite the hype around unpaid work experience placements over the last few years, we can see from the study that a huge proportion of interns still have to work for free.”

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Separation can be the start of financial woes

The number of couples splitting up tends to go up at this time of year, so it’s important to look after yourself financially. Roz Sanderson reports

Unfortunately, the end of the summer holidays also brings with it a rise in the number of people getting divorced, and many people find themselves facing huge, seemingly unavoidable costs.

Protecting yourself financially before, during and possibly after your marriage is critical even if it seems unromantic.

Christine Northam, a counsellor for relationship support charity Relate, says: “The summer is a time for families to go away, and couples tend to put their feelings on hold, but problems in their normal routine become highlighted. Upon returning home some couples will start to realise that the only solution to their problems is divorce.”

Source: INDEPENDENT>> Read full article and comment

Posted in Divorce and children, FinanceComments Off

Cash-strapped parents return to traditional birthday parties

Middle class parents returning to traditional, simpler, children’s parties – breaking the cycle of ever more expensive and elaborate celebrations.

More nostalgic experiences, which embrace the cheaper entertainment of the past, are back in vogue thanks to the ‘make it yourself’ trend and tightening family finances.
Family games are enjoying a resurgence, including ‘pass the parcel’ and ‘pin the tail on the donkey’, along with group activities such as baking cakes, according to a report in the Financial Times.
Among those benefiting from the change is Party Pieces, the business set up by the Duchess of Cambridge’s parents, Carole and Michael Middleton.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Childcare costs stopping mothers going to work, says study

Number of women opting to look after their children instead of doing paid employment increases by 32,000 in a last year

The high cost of childcare and commuting is forcing women to give up their jobs to avoid ending up out of pocket, according to new research.

The study says the number of women opting to look after their children instead of doing paid employment has risen by 32,000 since last summer, with rising childcare costs being a key factor in their decision. The figures are based on analysis of the latest ONS Labour Force Survey, and the number of women classing themselves as economically inactive because they are looking after their family and home.

According to the insurer Aviva’s latest Family Finances Report, the average cost of full-time childcare is £385 a month, but this rises to £729 for children under two. Part-time care comes in at £193 a month, or £364 for the under-twos.

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Antenatal care goes two-tier as NCT classes boom and NHS classes are cut back. But who’s suffering most?

Concerns that mothers on low incomes may lose out are matched by questions about the NCT’s firm belief in natural childbirth

Signing up for NCT antenatal classes ranks alongside buying a Bugaboo pram and joining Mumsnet for many middle-class pregnant women.

New figures show that there has been a boom in the number of women paying around £200 to attend a course of private NCT sessions – a jump from 25,000 in 2005/6 to 40,000 in 2010/11 – while the provision of free NHS classes in austerity Britain is increasingly patchy.

Despite a discount scheme from the NCT for the poorest families, a two-tier antenatal system is emerging, where less well-off women have little access to the advice and support so crucial for first-time mothers. Along with the scrapping of the health in pregnancy grant and child trust funds and changes to child tax credits and the Sure Start maternity grant, it is yet another area where mothers on low incomes are losing out under the coalition’s cuts programme.

Source: GUARDIAN>> Read full article and comment

Posted in Charity and fundraising, Family Health, Finance, Health, Pregnancy and ChildbirthComments Off

Landmark divorce case could stop expats moving children ‘home’

Last month, an expat Canadian was forbidden from taking her two young children back to her home country after a divorce. The case, says lawyer Henry Brookman, could set a precedent.

As an expatriate you will appreciate the difficulties that sometimes arise in a busy family life: having young children and being away from friends and family can create challenges in a relationship. Should a marriage break down irreparably, the needs of all family members – especially young children – need to be carefully balanced.

Relocation after divorce is an issue which effects a large number of families in the increasingly globalised world in which we live. The family lawyers’ group Resolution estimates that there are more than 1,000 cases a year in the UK in which a parent gets permission from the courts to leave the country with children after divorce. Characteristically it is almost always the mother who applies, so the following information makes that assumption, although it is important to note that the principles apply equally to mothers and fathers.

Source: TELEGRAPH>> Read full article and comment

Posted in Divorce and children, Finance, Just for DadsComments Off

Rush for beds cushions student landlord

As students gear up for the return to university, Unite was nearing the top of the class as Britain’s largest listed student landlord said it was seeing strong demand for its rooms, particularly in the capital.

Unite, which manages 40,000 student beds across the UK, said the London market benefited from a “huge supply/demand imbalance” as international students flock to the city.
As it looks to capitalise on the rush for rooms, Unite said it was in exclusive talks to acquire further sites in London that would see it add another 1,200 beds to its folio. With demand for the coming academic year remaining strong, Unite thinks rental growth will be firmly in the 3-4pc range and believes its full-year profits could beat market expectations. That outlook came as Unite posted half-year profits of £16.3m compared to £12.1m last time and reinstated its dividend.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, Finance, University and Gap yearComments Off

Woman detective facing jail for stealing £26,000 from charity that helps child victims of crime

A disgraced detective admitted today to defrauding a police children’s charity, which raised funds for crime victims, out of at least £26,000.

Ex-Detective Sergeant Louise Ord, 42, who was sacked by City of London Police in February last year, controlled the force’s charity Child Victims of Crime.

Ord, of Basildon, Essex, who worked with sexual abuse victims, was a nominated signature on cheque’s paid on the charity’s behalf and sat on it’s committee.

Source: DAILYMAIL>> Read full article and comment

Posted in Charity and fundraising, Family, Finance, Parents in prisonComments Off

Pocket money surges to an average £6.25 a week

Youngsters have seen an end to a seven-year piggy bank recession after figures today showed pocket money surged to an average £6.25 a week in 2011.

In news that will delight sweet shop owners, the typical child now has an extra 36p to spend every seven days – equating to £18.72 a year.

The 6% annual uptick marks an end to a seven-year decline in pocket money for boys and girls in the UK. But the current average still lags far behind the 2003 high of £8.37 recorded in the annual Halifax Pocket Money Survey.

Researchers found that about 80% of children polled confirmed they still received cash on a weekly basis, remaining unchanged from last year.

Source: INDEPENDENT>> Read full article and comment

Posted in Family matters, FinanceComments Off

Expecting an inheritance? Your parents have other ideas

Many adults hoping to receive an inheritance from their parents could be in for a shock as rising numbers of baby boomers are making ends meet by “spending the kids’ inheritance”.

Two thirds of adults aged under 35 expect to receive an inheritance but half of those aged over 50 are already spending the money, according to a survey of 2,000 people by Skipton Financial Services.
More than a third of the older group said leaving an inheritance would put a strain on their finances and more than a fifth said they did not expect to leave anything to anyone else when they die. That could lead to awkward scenes at the graveside – if not before – and leave many adult children bitterly disappointed.
Andrew Barker, managing director of Skipton Financial Services, said: “It is no surprise that with rising taxes, university debt growing by the year and mortgages much more unaffordable than before the credit crunch, young people are more and more desperate for a financial helping hand from their parents.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Sixth-forms and colleges ‘cutting support and courses’

Several sixth-form and college heads have said funding changes are forcing them to cut careers guidance, mentors, sports and even A-level courses.

From September, instead of 114 hours’ teaching per student per year of non-assessed “enrichment” subjects being funded, only 30 hours will be.

One union leader said he thought such cuts were happening “across the board”.

The government says it is protecting core study programmes and funds are being re-invested in 16-18 education.

The loss of funding for enrichment activities will affect schools and sixth-form colleges, although some of the money – about £150m – will be used to support disadvantaged learners.

Source: BBC NEWS>> Read full article and comment

Posted in At School, Finance, LearningComments Off

School holidays can ‘double the price of a family break’

Santander research shows that families going abroad during the school holidays are paying about £800 more than for the equivalent trip during term time

Family breaks during school holidays cost almost double the equivalent deals offered during term time, with the average price difference almost £800, according to Santander.

Its research showed that families wishing to travel from London to the Algarve could face some of the steepest price rises, with one popular four-star resort charging a staggering 92% more during the summer holidays – £2,174 compared to £1,133 after the school break.

Trips to other popular holiday destinations, such as Florida and Crete, are on average 43% more expensive between 22 and 29 of August than between 12 and 19 September, just after the school term starts.

On average, a family of four planning a trip abroad during the school break can expect to pay £790 more than they would in the weeks that follow.

Source: GUARDIAN>> Read full article and comment

Posted in At School, Family matters, Finance, Holiday and TravelComments Off

Rise of the stay-at-home students

Students are increasingly keeping accommodation costs down by going to local universities and living with their parents

If there were an index tracking sales of cheap kettle-and-toaster sets, it would surely be sloping downwards. The kitchen starter-kit was once a crucial purchase for every undergraduate in the country. But surging fees and the impact of the recession has seen the rise of the stay-at-home student. With accommodation in student halls now costing an average of more than £3,800 a year, thousands of undergraduates are opting to study for a degree while living with mum and dad to avoid building up a mountain of debt.

Last year, more than 310,000 students opted to study at local universities while living at home, according to the government’s Higher Education Statistics Agency. That is 19% of all undergraduates – up from just 8% in 1984. The main reason, according to research from Liverpool University, is financial pressure. The research shows that nearly eight in 10 students living with their parents do so to save money.

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, Finance, University and Gap yearComments Off

‘Boomerang children’ make a £3,500 dent in parents’ savings

Grown-up children who refuse to leave home set back their parents by £3,500 a year, says a report.

The bill for caring for “boomerang children”, those who leave only to return, and adult offspring who live at home includes food, snacks and loans, which are never repaid in full.
Additionally, parents will find a substantial dent in their bank balance for phone and utility bills as well as picking up the tab for day trips or nights out.
With the average child not leaving home until the age of 26, parents are facing the possibility of at least a £10,000 hole in their savings.
The figures emerged from a study of 477 parents of children aged 23 to 40, who are still living at home.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Dumfries Peter Pan house project launched

Ambitious plans are being unveiled to turn the house which inspired the story of Peter Pan into a Scottish centre for children’s literature.

It is hoped the Moat Brae scheme in Dumfries can be completed by 2015.

Author JM Barrie played in the grounds of the building as a child but the property has fallen into disrepair.

The Peter Pan Moat Brae Trust is currently raising funds for the upgrade of the building and has secured Joanna Lumley as a patron for its plans.

The house and garden were in private ownership between 1823 and 1914.

Source: BBC NEWS>> Read full article and comment

Posted in Finance, Internet Kids, Random articlesComments Off

Families to be £1,500 a year worse off, IMF warns

Households will be left £1,500 a year worse off for the next five years due to a combination of higher taxes and lower benefits introduced as part of the Government’s austerity drive, the International Monetary Fund warned yesterday.

In a comprehensive analysis of the state of the British economy, the economic watchdog said that, between them, families would have £35 billion less disposable income due to the Government’s attempts to tackle the deficit. In addition, a fall in the value of houses would wipe off more than a tenth of their “tangible” wealth in real terms by 2016, the IMF said in its report.
The forecast for household finances came amid a growing political row about recent slow growth. George Osborne has come under pressure from David Cameron to come up with new ways to stimulate the economy.
The IMF reiterated its support for the Government’s programme of cuts, which it said had “significantly reduced the risk” of a sovereign debt crisis. However, it warned that tax reductions might be necessary if the rate of economic growth did not improve. And although it said the Government had made the right decisions to tackle the deficit, the impact on households would be significant.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Industry welcomes higher junior ISA limit

The amount of cash that can be paid into the new junior individual savings accounts (ISAs) each year has been raised from £3,000 to £3,600, the Government has announced.

The new junior ISA scheme will protect children’s savings from tax, but account holders will not be able to access their funds until adulthood.

The raising of the limit was welcomed by consumer groups and financial industry bodies. “The annual subscription limit is three times greater than the current limit on the child trust fund (CTFs), so family members and friends will be able contribute more tax-exempt savings than they are able to currently,” said Brian Morris, the Building Societies Association’s head of savings policy.

Source: INDEPENDENT>> Read full article and comment

Posted in Family, Family matters, FinanceComments Off

‘Kidflation’ leaves children counting the cost of rising prices

Sweets and soft drinks prices have risen dramatically making children big losers in the recession, according to research

Children have been among the biggest losers in the economic recession because of a huge rise in the cost of items they buy and a reduction in pocket money.

The rate of inflation on goods bought by children, “kidflation”, has risen 68% more than retail price inflation over the past three years. While the retail prices index (RPI) has increased 8.5%, kidflation has gone up 14.3%, according to research by Santander and the educational charity Personal Finance Education Group (pfeg).

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Eat your greens… and pinks and yellows

How Tesco is trying to get children to eat cauliflower by making it more colourful

Children reluctant to eat their veg has been a never ending struggle for parents.

That could be about to change, however, as brighter colours are worked into cauliflowers that hit the shelves at Tesco today.

The supermarket chain has launched ‘rainbow’ packs that will have sprigs of purple, orange and emerald green cauliflower to appeal to awkward youngsters who see the veg as boring.

Source: DAILYMAIL>> Read full article and comment

Posted in Family matters, FinanceComments Off

Millions of families forced to dip into private school savings ‘to fund lifestyle’

Millions of parents have been forced to dip into savings set aside for their children’s private education in order to cover the rising cost of living, new research has found.

A survey found nearly three million families were forced to withdraw more than a third of their saved “educational funds” in order to fund day-to-day living costs.
Researchers found that just one in five parents were in a position to replace the money as a growing number of households face unprecedented financial pressures.
The ICM survey found a quarter of families have reduced the amount they spend on their children’s private education while 109,000 parents have pulled their children out of public school altogether.

Source: TELEGRAPH>> Read full article and comment

Posted in At School, Finance, Independent Schools, Learning, Music, Dance and DramaComments Off

Will Junior ISAs allow kids to get a decent financial start in life?

the treasury released full details on Wednesday of the new children’s tax-free savings accounts which will be launched in the Autumn.

Junior ISAs will allow children to save up to £3,600 each year and pay no tax on the interest or growth. Kids will be able to get at the money when they reach 18.

They are the Coalition government’s replacement for Labour’s Child Trust Fund scheme. Under that scheme, children got a savings kick-start from the government: £250 when they were born, £250 when they reached the age of seven. But David Cameron obviously felt that children shouldn’t have the benefit of state help, as Child Trust Funds were scrapped almost immediately after the Coalition came to power.

Source: INDEPENDENT>> Read full article and comment

Posted in Family, Family matters, FinanceComments Off

Parents raid school funds to make ends meet

Parents are withdrawing cash set aside to pay for their offspring’s education just to make ends meet, according to research out today.

Three out of five parents said they had raided funds which had been set up either to pay for private education or see their children through university. When asked why they had withdrawn the cash, more than half (56 per cent) said it had been to meet rising cost of living expenses.

Schroders, the firm that commissioned the research, said the findings, if mirrored around the UK, would mean that 2.7 million parents had dipped into reserves. Pollsters ICM contacted justmore than 2,000 adults for the survey.

Source: INDEPENDENT>> Read full article and comment

Posted in At School, Finance, Independent Schools, LearningComments Off

Bereaved husband claims sex discrimination over NHS pension

The bereaved husband of a doctor has undertaken a legal test case claiming sex discrimination because he is receiving a smaller NHS pension than if he were a widow.

The legal action by Iain Cockburn, 56, backed by the British Medical Association, could result in the Department of Health having to pay an extra £1billion a year to widowers.
Mr Cockburn’s wife, Dr Clare Boothroyd, died in 2007. He is receiving £3,200 a year less than a woman would in the same circumstances. An historically more generous provision has been made for widows because their lower earning potential and child-care responsibilities put them at an economic disadvantage.
Mr Cockburn, of Leamington Spa, Warwicks, argues that his wife’s pension contributions over 24 years of unbroken service were the same as those of her male colleagues.
“If the pension I should be getting is money that Clare had already earned and I am not getting it, who is?” he said. “Where is that odd £3,000 a year going? She earned it, not another doctor.”

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Family needs £80,000 to fly home bike crash son

A Brixton family is battling to raise money to fly their seriously injured son home from Bali.

There are fears that Richard Plummer, who is in a coma following a motorcycle crash, will not recover unless he returns to Britain for treatment.

The 32-year-old musician has been unconscious in hospital on the Indonesian island since the crash on July 1. His travel insurance has expired and his parents fear they may have to sell their Kent home to pay for the evacuation.

June and Eric Plummer, who met in Brixton and now live in Maidstone, have spent the past week in Bali at Richard’s bedside as extended family members and their MP Helen Grant raise funds.

Adrian Walker, Mr Plummer’s brother-in-law, said about £80,000 was needed for an intensive care air ambulance and medical bills. “If he stays in the hospital that he is in his chances of recovery are very, very low as they do not have the facilities and the expertise to be able to treat him fully,” Mr Walker said. Mr Plummer’s Balinese girlfriend Indri, who is three months pregnant with their first child, has also been at his bedside.

Source: Thisislondon>> Read full article and comment

Posted in Charity and fundraising, Finance, Holiday and Travel, Time OutComments Off

Junior Isa savings limit increased to £3,600

Critics say savings account scheme will only benefit well-off families but investment companies are happy

Ministers have bowed to pressure and increased the maximum amount that parents can save for their children via the new Junior Isa scheme to £3,600 a year.

Junior Isas will be available from 1 November and aim to offer families a simple and effective way of putting money aside following the axing of child trust funds (CTFs). The Treasury has now published the detailed rules for this new tax-free children’s savings account – and investment companies expressed their approval.

It is estimated that six million children who missed out on CTFs because they were born before the scheme was launched or after it was scrapped will be eligible for the Junior Isa at launch. Each year, a further 800,000 will become eligible. Unlike CTFs, the government will not contribute to the Isa accounts.

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Child trust funds struggle to deliver

Most parents are neglecting their child trust funds. But they could be worth £40,000.

When Gordon Brown introduced child trust funds in 2005 he proclaimed: “Our aim is a Britain of ambition and aspiration, where not just some but all children have the best possible start in life. The child trust fund [CTF] is designed to ensure every child has assets and wealth and that no child is left out.”
The reality is likely to be very different.
Millions of children are going to be bitterly disappointed when their parents hand over their child trust fund account when they reach 18. This week Mark Hoban, the financial secretary to the Treasury, will announce that the new junior individual savings account (Jisa) due in the autumn will be able to shelter up to £3,600 a year tax-free, instead of the £3,000 indicated when CTFs were closed to new savers. Yet with all eyes focusing on the Junior Isa, six million girls and boys with CTF investments risk being forgotten.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Married Tory donor fathered TWO children by African escort girl during five-year affair

David Cameron faced a major embarrassment after it was revealed that a leading Tory donor fathered two children during an adulterous relationship with an African escort girl.

The married donor, who has made substantial contributions to party funds since Mr Cameron became leader in 2005, is understood to have paid the woman a monthly fee, in return for which she agreed to be available to fly around the world to meet him.

The man, who cannot be identified for legal reasons, is believed to have started the five-year relationship in 2004.

Source: DAILYMAIL>> Read full article and comment

Posted in Finance, Just for DadsComments Off

Julian Knight: Hooray for junior ISAs, but they won’t help cash in moribund Child Trust Funds

1.01 per cent – that is the average amount a children’s savings account is paying, according to Which?.

And child trust funds, much heralded as the long-term savings vehicle for hundreds of thousands of British kids, are also paying a pitiful 1.1 per cent on average, about 4 per cent below the rate of inflation.

CTFs are now closed to new money – since being abolished by the coalition – so you can bet that the rates these accounts will pay will fall further. It’s one of the unwritten laws of personal finance that once an account closes to new money, it becomes an instant rate backwater. Suffer the little children indeed.

Source: INDEPENDENT>> Read full article and comment

Posted in Family matters, FinanceComments Off

Low rates on children’s accounts ‘discouraging saving’

Consumer group Which? says some of the interest rates offered on children’s savings accounts are discouraging parents from investing in their futures.

Its survey shows that on average children’s instant access savings accounts offer rates of just 1.1%, and as low as 0.05%.

The worst rate uncovered was for First Trust Bank’s Junior Saver Account.

First Trust said it was now reviewing the account.

It added that a new pricing structure would be communicated to customers in the coming weeks.

Which? wants more banks to follow suit and review their rates.

Source: BBC NEWS>> Read full article and comment

Posted in Family matters, FinanceComments Off

Half of children’s bank accounts offer less than 1%

Children are being ripped off by Britain’s banks, according to a survey published today.

Which? Money found that half of children’s easy access savings accounts offer a measly 1% AER or less,
One, First Trust Banks Junior Saver account, offered a return of just 0.05% just one tenth of the Bank of England base rate.
That’s just 50p pocket money for every £1,000 saved.
With some university fees set to treble next year and tough financial times ahead, watchdog Which? says teaching your kids the right spending habits has never been so important.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Student bank accounts: how to choose the right one

Ignore gimmicky incentives – interest-free overdrafts offer the best deal for cash-strapped students

Students taking up places at university this autumn should spend a bit of time during their summer break choosing the right bank account to see them through the financially tough years ahead.

While the banks have traditionally tried to lure students with freebies, clued-up students will be more turned on by the offer of a sizeable interest-free overdraft than by gimmicky incentives.

This year, Halifax and HSBC have the biggest interest-free overdrafts, with both offering up to £3,000 from year one, compared with £1,000 at NatWest and Santander and £1,500 at Lloyds TSB, for example. Barclays, too, is offering up to £2,000 interest free from year one. Given how many students will spend most of their life at college overdrawn, paying no fees or interest on the first £2,000 or £3,000 you borrow is a big plus. That said, such high first-year limits might be too tempting for first-year students who have yet to learn the art of budgeting. Most banks tend to offer students a tiered system with the level of interest-free borrowing increasing in later years. NatWest, for example, offers up to £1,000 in year one, rising by £250 a year until £2,000 in year five.

Source: GUARDIAN>> Read full article and comment

Posted in Family matters, FinanceComments Off

Assault on six-year-old girl may cost fashionable Steiner school £100,000

An ‘alternative’ private school is facing a £100,000 compensation bill after ignoring a whistle-blowing teacher’s complaint that her daughter had been assaulted.

Jo Sawfoot, 42, worked at the fashionable Steiner school – where exams are considered harmful and pupils learn through gardening and playing with wooden blocks.

Her six-year-old daughter was also a pupil at the school.

Miss Sawfoot, a Cambridge graduate and the school’s designated child protection officer, claimed that bosses failed to investigate when she reported that her child had been assaulted by another teacher, Anna Letts.

Instead, she told an employment tribunal, the school misled social services by falsely claiming the girl had to be restrained after biting a staff member.

Source: DAILYMAIL>> Read full article and comment

Posted in At School, Family matters, Finance, Garden and Outdoors, Independent SchoolsComments Off

Family spending power falls by £360

High inflation is putting the squeeze on family finances and most are around £40 a month worse off than they were a year ago.

The latest Asda Income Tracker has revealed that family spending power fell by £9 per week in June 2011, leaving the average UK family with £167 in disposable income – 5.1pc down from this time last year.
Consumer price inflation fell in June from 4.5pc in May to 4.2pc, slightly easing the pressure on real household incomes with a falling in the price of discretionary items such as games, toys and hobbies. However, this is unlikely to signify the start of a downward trend, with the price of essential goods and services continuing to grow, Asda said.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Children destined to be poorer than their parents

That’s the startling assertion of financial guru Alvin Hall, in a new Radio 4 series on the burden facing baby boomers’ children. So who’s to blame?

Remember the future? The future was always a better place, in which one’s children could look forward to better education, higher incomes and better homes. They would have more money to spend on luxuries, take more holidays and at the end of it all enjoy a longer and more secure retirement. Unfortunately, the future ain’t what it used to be.
Parents belonging to the baby boomer generation, the one born between 1946 and 1962, find themselves in the novel and uncomfortable position of having to explain to their offspring why life is going to get tougher.
There are short- to medium-term factors, such as fewer jobs as a result of cuts in the public sector, but longer-term, structural factors, too. The end of heavily subsidised university education is likely to be a permanent fact of life, combined with a housing market in which prices continue to bear no relation to average earnings.

Source: TELEGRAPH>> Read full article and comment

Posted in Family matters, FinanceComments Off

Care fund proposed to pay for paternity leave

Thinktank Demos says a care-contribution system could be implemented to encourage more fathers to take parental leave

A leading policy thinktank has proposed a pension-style, contribution-based fund to cover the costs of taking shared parental leave and encourage more fathers to take paternity leave.

The “carers’ account” proposal is one of the more radical suggestions in a report by thinktank Demos, examining wider issues around flexible working and parental leave.

The research, Reinventing the Workplace, painted a mixed picture of employers’ attitudes towards flexible working, with 91% offering some form of flexible working to employees, and six out of 10 workers saying they now worked flexibly.

Source: GUARDIAN>> Read full article and comment

Posted in Finance, Just for DadsComments Off

$480 on cloaks, $160 for a wand and $41,500 tuition

How much it would REALLY cost to send your child to Hogwarts

Thanks to the Harry Potter series, children across the world fantasise about attending Hogwarts. But even if the fictional school was a reality, it appears that the school would out-price most families.

According to the Economics Society at Lehigh University, Pennsylvania, it would cost in excess of £26,816 ($43,000) to send a single child to Hogwarts for one year.

One can only pity the Weasley parents, with their seven-strong brood, after the authors of the society’s Centives blog calculated a figure based on the fact that the average annual cost of a top British boarding school is about £25,800 ($41,500).

Source: DAILYMAIL>> Read full article and comment

Posted in Family matters, Finance, Independent SchoolsComments Off

Will summer school for entrepreneurs uncover the next Richard Branson?

Course will feature Martha Lane Fox, Luke Johnson – and Dragon’s Den-style contests in front of top businesspeople

In a fresh attempt to kickstart the small business sector, the government has thrown its weight behind the launch of a summer school for student entrepreneurs. The YouGov initiative, called StartUp Summer, launched in collaboration with University College London and Imperial College, aims to help budding Richard Bransons develop their ideas and launch a startup business.

UCL and Imperial students applied earlier this year by submitting a 300-word pitch of a business idea (or of their skills as a potential team member). Successful applicants will attend a launch event today, when they will pitch their ideas and join one of five project teams which will, over six weeks, offer access to resources, a small budget and support from mentors.

Source: GUARDIAN>> Read full article and comment

Posted in At School, Family matters, FinanceComments Off

Just one in ten fathers to take full paternity leave

Fathers are being deterred from playing a bigger part in caring for their children because of lost earnings to the family budget, a new report has warned.

Just one in 10 men would take more than two weeks off work to look after their newborn babies, despite new rights which came into effect in April, a survey by think tank Demos found.
Only half of men take their full leave entitlement, often because statutory paternity pay covers less than a quarter of their salary, the study of 1,500 workers found.
The analysis revealed that fathers taking six months’ leave – possible under April’s new rules – stand to lose almost 90pc of their earnings that year, compared to mothers who would be 72pc worse off if they took their full leave entitlement.
Preventing fathers from playing a prominent role at home could prevent mothers going back to work after childbirth, the study said.

Source: TELEGRAPH>> Read full article and comment

Posted in Finance, Just for Dads, Pregnancy and ChildbirthComments Off

Follow us on Twitter

Click today’s date to read all latest news

April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930  
Blog WebMastered by All in One Webmaster.