Experimental feature Listen to this article Play audio for this article Pause Millennials do not have very much money, yet are constantly told that they need to save more. A generation faced with the prospect of being worse off than their parents, young people are weighed down by student debt and the high cost of renting— never mind saving for a deposit to buy a home.Making your money last until the end of the month while building up some savings on the side is certainly a challenge — although not confined to those born after 1980. Could those in their 40s be any better at saving money than people in their 20s? To find out, Kate Beioley, the FT’s 29-year-old Millennial Money columnist, and Claer Barrett, the FT’s 41-year old personal finance editor challenged each other to a “Thrift Off”, gathering tips from colleagues and FT readers to find the best ways of making their money go further in London, one of the most expensive cities in the … [Read more...] about How to save money: tips for millennials
Smart ways to invest money
Money is tight, and that means what we should all be doing is saving the pennies and looking to make out lives a bit more secure. But a life lived without joy, never going out or seeing your friends, is not just miserable - it can be self defeating. It not only increases the chances we'll splurge cash later on, it also distances us from the point living in the first place. So, to allow you to keep having fun, while minimising the damage to the bank balance, we've hunted down some great deals - letting you save cash and life your best life for free . Going out 1. Use cash instead of cards It’s easy to lose track of your spending on a night out if you’re paying with plastic, especially if you’re tapping contactless cards. Instead, set yourself a budget and take the cash with you. Just don’t be tempted to borrow from a friend when you reach your limit. 2. Be upfront with the bill If friends suggest going to a restaurant, explain in advance that you’re on a … [Read more...] about 30 clever ways to love life without breaking the bank
Something big in British politics changed this week, but not in the way Theresa May hoped. She would like it to be remembered as the moment the Conservatives pledged to pump an extra £20bn a year into the NHS, addressing her party’s traditional weakness and possibly even neutralising Labour’s biggest weapon. However, it might prove a pivotal moment for a very different reason. In his Mansion House speech last night, Philip Hammond confirmed that taxes will rise to pay for the NHS boost. In doing so, the Tories risk throwing away their strong unique selling point as the low tax party, and possibly helping Labour to tackle its biggest weakness – a lack of trust on the economy. Labour has traditionally been seen as the party with a heart, the Tories as having a head. Despite the public’s deep affection for the NHS, when it came to elections, many people voted with their head, or perhaps their wallet. As May reminded MPs on Wednesday, the Tories have been in … [Read more...] about Is Corbyn smart enough to take the golden opportunity Theresa May just handed him?
If the thought of going to a crowded gym brings you out in a cold sweat and gets your heart pumping for all the wrong reasons, the idea of creating a personalised home gym may have crossed your mind. And if cycling appeals, your eyes will turn to a static exercise bike(or a turbo trainer – a stationary device to which you can attach your 'real' bike. As an example, check out the Tacs Flux Smart Trainer, available for £599 at probikekit.co.uk.) The best exercise bikes are less bulky than a treadmill or a cross-trainer, and it means you would swerve the journey to and from the gym (time efficient for those with busy schedules) or avoid the traffic you might encounter on a road bike (all the while sheltered from the elements), enjoying the same health benefits and performance improvements in the comfort of your own home. It's the one-stop solution to all your weight loss goals and gym-going woes. Right? Short, … [Read more...] about The best exercise bikes: is indoor cycling an effective way to lose weight and avoid the gym?
Britain's biggest energy supplier has confirmed a 5.5% price hike next month - in a move that could add an extra £60 to 4.1 million bills. In a statement, the firm said it had "reluctantly" made the decision to increase its standard variable tariff (SVT) from 29 May 2018. A statement read: "We fully understand that any price increase adds extra pressure on customers’ household bills. "We stopped selling the SVT, which has no end date, on 31 March so it’s no longer available to new customers. We are also encouraging our existing customers on this tariff to choose one of our new fixed-term deals. "And by the end of 2018 we hope over 1 million more customers will have chosen to move onto one of these alternative deals." If you are still on this standard tariff - of which more than 4 million people are - the price for a typical dual fuel customer will go up on average by £60 to £1,161. That's £30 for gas and £30 for electricity. However, around 3.7 … [Read more...] about Millions of British Gas customers to see bills rise £60 in May