Category Archives: Money

What You Need To Know About Consumerism

What You Need To Know About Consumerism

Consumerism can be defined as an economic and social ideology and order that encourages consumption or acquisition of goods/services in a never-ending cycle. Consumerism encourages purchasing and consumption of goods and services in excess of a person’s basic needs.

In economics, the term consumerism is used to refer to economic policies which encourage consumption. In a consumerist society, people are bombarded by adverts, discounts, product launches, product giveaways among many other promotions meant to encourage constant and significant spending on goods and services. Consumerism encourages pursuit for the ”good life”. This may come at the expense of things like saving and investing.

History and rise of consumerism

Consumerism can be traced back to the onset of capitalism in the 16th century in Europe. Consumerism intensified in the eighteen century because of a growing middle class that embraced luxury consumption. The eighteen century also saw an increasing interest in fashion rather than necessity as a determinant for purchasing. The growth of consumerism can also be attributed to politics and economics. For countries to thrive politically and economically, capitalist competition for profits and markets had to be at the core of every country’s agenda. Colonialism has also been attributed as one of the major drivers of consumerism.

Colonialists had to look for markets for their goods by creating demand because there was supply. The industrial revolution also spurred consumerism as the number of consumer products increased in the market due to the increasing use of machines. Over many decades, buying goods/services became a way of life in Britain and many other parts of the world. The consumerist culture continues today. It encourages spending on consumer items like cars, clothes, shoes, and gadgets instead of saving and investing. Consumers buy goods and services to keep up with fashion/trends. The search for better goods is never-ending.

The rise of consumerism today is evident in both developing and developed countries. This can be seen in the mass production of luxury goods. The media is also saturated with advertisements. Personal debt levels are also rising globally which is an indication of more people buying goods excessively on impulse or without proper financial planning. Other evident signs of consumerism include product innovation.

Benefits of consumerism

1. Economic growth:

Consumerism drives economic growth. When people spend more on goods/services produced in a never-ending cycle, the economy grows. There is increased production and employment which leads to more consumption. The living standards of people are also bound to improve because of consumerism.

2. Boosts innovation and creativity:

Since consumers are actively looking for the next-best products/services to buy, producers/manufacturers are under constant pressure to innovate. As consumers access better goods/services, living standards improve.

Cons of consumerism

1. Environmental degradation:

Increasing demand for goods put extensive pressure on natural resources such as water and raw materials. Consumerism also results in the excessive use of energy. Consumerism also encourages the use of chemicals which are known to degrade the environment. In a nutshell, consumerism does more harm than good to the environment.

2. Moral degradation:

Increasing consumerism tends to shift away societies from important values such as integrity. Instead, there is a strong focus on materialism and competition. People tend to buy goods and services they don’t need so that they can be at par or at a higher level than everyone else.

3. Higher debt levels:

Consumerism also increases debt levels in a society. The number of people taking short term loans such as payday loans to buy luxury goods has increased drastically. Many short-term loans aren’t channeled into constructive use today.

4. Mental health problems:

Consumerism increases debt levels which in turn results in mental health problems like stress and depression. Trying to follow the latest trends when you have limited resources can be very exhausting to the mind and body. Consumerism forces people to work harder, borrow more and spend less time with loved ones. Consumerism gets in the way of fruitful relationships. It affects the overall well-being of people negatively in the long run since research has proven that people don’t get valuable and long-lasting fulfilment from materialism.

Summary

Consumerism has a good and bad side. Although consumerism drives economic growth and boosts innovation, it comes with a fair share of problems ranging from environmental and moral degradation to higher debt levels and mental health problems. Since we are already in a consumerist society, it is advisable to strike a healthy balance. A person’s love for the finer things in life should not come at the expense of his/her mental health and financial stability.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
Consumer Spending Statistics in the UK: What Does the Average British Family Spend Their Money On?

Consumer Spending Statistics in the UK: What Does the Average British Family Spend Their Money On?

If you care to get accurate insights on what British families spend their money on, look no further. Below is a summary from the ONS (Office for National Statistics) in the UK. The information highlights family spending as of 2016.

Overview

According to the latest ONS statistics, the average weekly household spending remains at £528.90 for the year ending 2016. Most low-income households in the UK continue to spend a higher portion of their income on food and energy bills compared to high-income households.

Mobile communication costs have risen significantly. Over 50% of all the money spent by UK households on communication is spent on mobile phone related costs. Expenditure on tobacco, alcohol, and narcotics has fallen below £12 for the first time. Expenditure on restaurants and hotels has however risen by over £45 a week. This is the 1st time this has happened in 5 years. Below are important background spending statistics.

Total spending

Average spending remains at £528.90. However, when adjusted for inflation, spending appears to have increased but is not yet at the levels experienced before the 2007 economic turndown.

When you compare expenditure against other economic indicators like the GDP (Gross Domestic Product), output has grown steadily. The employment rate has also increased. The average earnings and median disposable income has also increased (after being adjusted for inflation). However, disposable income grew at a slower pace for the richest 1/5th households. The median income for UK’s richest households has fallen since the 2007/2008 economic downturn.

Inflation

The prices of goods and services affect spending patterns. Inflation shows the rate at which the prices of goods/services rise or fall. During the financial year 2015/2016, inflation as per the consumer prices index was significantly lower compared to the previous financial year. In fact, the UK entered a deflation period which simply means the cost of goods/services remained the same or became cheaper in 2015/2016.

Consumer confidence

Consumer confidence increased during the last financial year. The UK has been on an upward trend in regards to consumer spending since the 2007/2008 economic downturn. Consumer confidence has increased significantly since 2013.

Household expenditure according to category

The average British household spends the most on transport, housing, fuel and power bills. The average amount of money spent per week on transport in the financial year 2015/2016 was £72.70. The highest expenditure was on fuel costs i.e. petrol and diesel costs. Compared to the previous financial year, the average expenditure on transport remains unchanged. The overall spending on motor fuels decreased this financial year due to the drop in crude oil prices globally. Also, more Britons bought new and second-hand cars this year compared to last year. There was an increase in uptake of loans for buying new vehicles.

Britons spent the least on education i.e. £7 per week (1% of the total expenditure). Transport costs were the highest at £72.70 per week followed by housing, fuel and power costs at £72.50 (both 14%). The third highest expenditure was on recreation and culture at £68 per week followed by food and nonalcoholic drinks (£56.8), restaurant and hotels (£45.1), miscellaneous goods/service (£39.7), household goods and services (£35.5), clothing and footwear (£23.5) and communication (£16). British households spend £11.4 on alcohol, tobacco and narcotics and £7.2 on health.

Household expenditure according to region

London households have the highest average expenditure at £652.40 per week. The North East region has the lowest household expenditure at £423.50 primarily because of lower housing costs. The highest expenditure category for most regions is transport, housing, fuel, and power. As a result, it doesn’t really matter when you live in Britain. Most Britons spend most of their money on transport, housing, fuel, and power. There are however a few exceptions. In the North East, North West as well as Yorkshire & the Humber for instance, families spend the most on recreation and culture.

Other important spending statistics/information

The latest spending statistics indicate that low-income households spend more on food and non-alcoholic drinks. Most of the money spent on food goes to milk, bread, and groceries. While low-income households spend most of their food budget on basic groceries, higher-income households spend most of their food money on vegetables. In general, households with less income have less money to spend on nonessentials.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
Top 5 Strategies For Reducing Investment Risks

Top 5 Strategies For Reducing Investment Risks

Most investments fail because people take in too much risk. So, what should you do to reduce risk when investing? Below are proven strategies regular investors can use to manage risk.

Strategy 1: Invest in financial education

Most people make investment mistakes because they don’t take time to invest in financial education. You can’t be a successful investor if you don’t know anything about investing. You can hire an investment professional to invest for you. However, you’ll need to a lot of money for such an approach to work. Financial education is very important. You need to know why investing is important in the first place. You should also know the different types of investments available to you among other basics. Financial education helps you make informed investment decisions. You may not become an investment expert yourself by studying basics, however, you will be able to avoid common investment mistakes made by most people if you are financially literate.

Strategy 2: Choose investments you are familiar with/passionate about

Another great way of reducing investment risks is to invest in opportunities you are already familiar with or passionate about. Sometimes it may take a lot of time, effort and money to get adequate financial education. If so, invest in an opportunity you are familiar with or passionate about. It could be anything really. It’s easier to set up a business revolving around your passion or something you know a lot about rather than attempting to learn something new from scratch. Remember, risks emerge mostly from the unknown so, choose investments that you know much about or have an unmatched interest in.

Strategy 3: Take the relevant insurance

One of the best ways of managing/avoiding risk is taking insurance. The insurance industry in the UK as well as globally has countless insurance covers that take care of all types of risks imaginable. If you are investing in rental housing, for instance, you can take loss of income insurance to cover you when you don’t have tenants. Such a cover eliminates risks associated with having empty rental units especially when you are servicing a loan. Before you start investing, shop for relevant insurance products that can help you reduce risk.

Strategy 4: Start small

You can also reduce investment risks by starting small. This strategy is perfect when you don’t know much about the investment opportunity you want to pursue. When you start small, your risks are also small. Your financial stability stays intact regardless of the outcome. You can then grow your investment when you can handle more risk.

Strategy 5: Focus on organic growth

This strategy is perfect when the investment in question is a business. Most people make the mistake of growing ahead of the actual business. According to most investment experts, you should allow your business to grow organically if you are keen on avoiding risks such as lack of customers. For instance, you should take a loan to expand your business when you have already started your business and noticed the demand for whatever you are selling is increasing. Taking a loan to expand a business when there is no demand for your products/services exposes you to a lot of risks.

Strategy 6: Reinvest profits

It’s less risky to reinvest profits instead of borrowing a loan to invest. When you take out any loan, there is always the possibility of being unable to repay the loan for reasons that may be beyond your control. To avoid such risks when investing, consider reinvesting investment profits first before you think of investing using a loan.

Strategy 7: Diversify

Diversifying is one of the best ways of reducing investment risks although it might reduce your ROI. Concentrating on one investment opportunity is bound to increase your profits. However, it comes with immense risk. Considering anything can happen, your financial future should not be at the mercy of one investment avenue. You should invest in many markets to reduce risk in case one market crashes.

Summary

Incorporate the above strategies when investing and watch your exposure to risk decrease drastically. Many people expose themselves to investments risks by being financially illiterate. Many people also land into investment problems because they fail to start small, take insurance, focus on organic growth and diversify. It’s also advisable to consider reinvesting profits before you take out an investment loan.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
A Complete Guide To Estate Planning

A Complete Guide To Estate Planning

Estate planning is about planning for what will happen to your assets when you die. You don’t have to be super rich to prepare an estate plan. As long as you own one or more assets, you should have an estate plan in place as soon as possible. Generally speaking, estate plans cover the accumulation, conversion as well as the distribution of an estate (assets). Good estate plans maintain and enhance the financial security of people as well as their families.

Estate planning basics

Estate planning encompasses several components. Below is a review of each of these components to help you understand everything there is to know about estate planning.

a. Wills

Wills are the backbone of all estate plans. A will is a legal document highlighting a person’s intentions on how their assets should be distributed or disposed at death. Since death is uncertain and disputes usually arise when people die, everyone should prepare a will.
A will is enforceable after a person death. A will can be amended or changed anytime before a person dies or becomes mentally challenged. A properly drafted will has instructions that are executed by an individual’s personal representative (the executor).

Benefits of a will

There are several advantages of having a will the most notable being the fact that you can be able to control what happens to your assets when you are gone. A will enables you to take care of the needs and interests of your dependants among other people who may otherwise be unable to take care of themselves when you are gone. Having a will can also reduce your estate tax. Last but not least, you get unmatched peace of mind when you have a will in place.

People who have assets but die without preparing a will surrender their rights of asset distribution to the legal system. In such a case, courts decide who gets those assets that don’t have outright beneficiaries.

Important characteristics/information about wills

Wills are inexpensive to prepare. The cost, however, varies depending on complexity, the size of your estate as well as your location.
Wills transfer property which is in your name only. Any jointly owned property is transferred to the designated beneficiary.

Wills are still necessary even for individuals who have trusts because they cover assets which trusts don’t cover.

b. Trusts

Trusts are another important component of estate planning. Trusts are about transferring property to corporate or individual trustees who manage the property on behalf of beneficiaries. There are various kinds of trusts depending on factors such as; when the trust is effective. A living trust is effective during a person’s lifetime. A testament trust becomes operative after a person’s death.

Trust terms can be amended provided the testator (the person who creates the trust) is still alive and mentally competent. Living trusts have special attributes i.e. they are revocable or irrevocable. Revocable living trusts can be accessed by the creator when he/she is alive. On the other hand, irrevocable living trusts seize belonging to the creator once they are created. The trusts are owned by trust entities once they are transferred. Once the creator dies, the beneficiaries can access the trusts.

Benefits of trusts

People set up trusts for many reasons. The most notable reasons include (but aren’t limited to);

To manage property more effectively: Most people set up trusts to ensure their property is invested and managed by professionals. Trusts complement wills in this regard. Instead of simply living your beneficiaries with property, trusts ensure the property is managed well by professionals on behalf of the beneficiaries.

Minimise taxation: Trusts also offer mechanisms for minimising the amount of gift and estate tax paid in most jurisdictions.
Better distribution of assets: Trusts are more efficient in the distribution of assets/property to beneficiaries. For instance, there are fewer delays. The expenses are also significantly lower.

Creators have more say: Trusts allow creators to place more conditions on the distribution of assets. For instance, it is possible to prevent squandering of property on luxuries like cars using a trust.

Summary

Estate planning is about engineering the accumulation, conversion as well as distribution of your assets when you are gone. Estate planning is about preparing wills and trust and why it is important to do so. Although there is more to estate planning that what has been discussed above, you have enough basic information now to get started.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
Here Are 6 Saving Tips Nobody Ever Tells You

Here Are 6 Saving Tips Nobody Ever Tells You

You can get investment capital by either taking a loan or saving. Most people today prefer taking loans because it is faster and easier. Saving consistently takes a lot of time, effort, and sacrifice. Although this is usually the case with almost all savers, saving doesn’t have to be a daunting task. There are some secrets you can consider to make saving easier/more fruitful.

1. The magic is in the deals:

Saving is a seemingly slow process when it comes to accumulating money since we never seem to have enough money to save. It is possible to change this by shopping for deals. It would be easier accumulating a lot of money in a short time through saving if you saved a higher percentage of your income so, how do you do it? Well, start by cutting on your expenses by shopping for deals. Many people fail to realise the fact that most expenses aren’t fixed. It is always possible to spend less on food every month if you buy food in bulk. You can also save money on your house rent by moving to a cheaper house. You can also save on transport costs by taking the bus or train instead of your car. Saving isn’t just about putting aside a portion of your income every month. To make significant progress, you need to shop for deals.

2. Automate:

You also need to eliminate complacency to get ahead as a saver, and one of the best ways of doing this is automating the saving process. You should have a standing order on your account to automatically deduct your savings when you receive your salary. Most people aren’t disciplined enough to accumulate savings in their current accounts. To avoid being tempted to spend the money, save automatically before you start spending.

3. Go against the spending wave:

You can get a good deal for a vacation by comparing prices. However, you are better off going for vacation when everyone else is at work. This same principle applies to almost every spending wave. Avoid ”following the crowd”. Participating in spending trends can hurt your saving potential immensely. Even if what you are spending on appears to be discounted, you can always get a better deal when everyone else gets bored with the spending trend. You should spend when everyone else seems broke to enjoy huge savings. For instance, February would be a great time to go for vacation, instead of December. Summer would also be a great time to buy a heating system.

4. Pay cash:

In this era of credit cards and online banking, people hardly pay for anything using cash. Although it is safer and more convenient, you end up spending a lot in fees. If you consider the number of times you run your card in a month, the fees can easily translate to more than a thousand pounds every year. Buying things using loans is also expensive because you pay interest plus fees. Furthermore, businesses extend discounts to cash buyers. Most successful savers don’t buy anything unless they can pay for it in cash.

5. Don’t over save:

Saving is usually unbearable to some people because it is overdone. All successful savers know this. If you want to save consistently for years, you shouldn’t over save at the expense of necessities. You should focus on developing a sustainable saving culture instead of one that leaves you feeling miserable. Shop for deals, go against the spending wave, pay cash and automate your saving process, however, don’t overdo it. Focus on leading a comfortable life as opposed to over saving or leaving beyond your means.

6. Saving:

On its own, won’t get you far: Most people know it’s good to save. However, you won’t get far if you just focus on saving. You should save to invest as opposed to saving to spend. The goal of saving should be accumulating enough money to start an income generating venture. You can use savings for emergency expenses when you don’t want to take out short term loans like payday loans, however, focus on making your savings work for you in the long-term. Get financial education to discover the best ways of using your savings.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
Important Money Questions Everyone Should Ask Themselves

Important Money Questions Everyone Should Ask Themselves

The importance of having money can’t be overlooked given the fact that we need money to live. Without money, it’s impossible to get food, shelter, clothing, medicine, education among many other basic needs. It also takes money to get the better things in life. No wonder people spend a lifetime trying to accumulate enough money. But do most people understand money? In an effort to help you know if you understand the most important things about money, here are some important money questions to ask yourself.

What is money?

Most people think of paper money when they think of money. However, anything can be used as money as long as it is deemed valuable by the parties engaging in a transaction. Originally, valuable commodities such as gold and silver were used as money. Paper money was simply used to back gold among other valuable commodities in an effort to ease trade as well as solve other problems associated with using commodities as money.
This however changed with the birth of fiat money (money declared as legal tender by governments) but isn’t backed by valuable commodities like gold. Fiat money is dependent on the faith people have in an economy as well as the debt levels of that economy. If people lose faith in a country’s paper money (fiat money), the money will seize being valuable. This highlights the importance of using money to buy tangible assets as opposed to valuing and storing money in its paper form. It is hard to get financially independent if you don’t understand what money is in the first place.

Why am I in my current financial situation/status?

This is another crucial money question everyone should ask themselves. You are where you are financially because of the financial decisions you have made in the past. If you are in a better place than you were years ago, you have been making good decisions. If not, you need to identify your mistakes and move on. The best ways of identifying bad financial decisions is; reflecting on your past decisions. You need to ask yourself other questions. For instance; do you budget? Do you follow your budget? Is your budget balanced? Do you invest? How much risk do you take on? Are you in debt? How did you spend past loans? If you don’t make an effort to find out why you are where you are financially, it will be difficult to progress. It doesn’t matter if you are doing well or not currently. Just find out why you are in your current financial status to be able to take the necessary action

How do I attain financial freedom?

Financial freedom can be defined as the state of having enough money to cater for all living expenses without having to ever work again. Rich people have financial independence. As long as their money is invested in activities that generate recurrent income, they never have to work another day in their lives. The importance of figuring out how to attain financial freedom can’t, therefore, be overlooked when talking about money. If you aren’t asking yourself this question on a daily basis, then your chances of being rich are slim.

In fact, asking yourself this question is the first step to becoming rich. There is no need of working hard and earning a lot of money if you are not thinking of ways of making your money work for you. There will always be something to spend your money on so, if you keep spending without investing, you will keep working for the rest of your life. You should focus on investing and gaining recurrent income streams instead. After working hard for decades, you should sit back and let your money work for you. Investing in financial education is the best way to start discovering how you can generate income for a lifetime without having to work every day.

Summary

If you are able to ask yourself and answer these three money questions, you will be a step closer to financial freedom. Start by understanding what money is and why you are where you are financially. Proceed by understanding what you need to do to make sure you attain financial freedom. Seeking financial education is a good place to start.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
How Do You Ask Your Bank For A Business Loan?

How Do You Ask Your Bank For A Business Loan?

One of the biggest hindrances that people face when starting businesses is; lack of capital. This hindrance can be easily eliminated if you understand what banks look for when selecting borrowers. You can make it easier for yourself if you understand what you want to do with the loan in the first place. Here’s everything you need to know about asking your bank for a business loan.

1. Understand why you need a business loan

You must ask yourself why you need a business loan before you approach your bank. Most people have more money than they think. Remember, it is possible to start a business with little to no money. Furthermore, banks aren’t the only lenders. You can borrow from friends, take out a short term loan i.e. a payday loan, turn to a pawnbroker, etc. In a nutshell, there are many options available today when you need a loan. Ideally, you should take a business loan when you really need one.

For instance, a business loan is recommended in instances where you don’t have access to any other funding sources. Most importantly, you must have a business idea. A business loan should also be used for starting/funding a business only and not any other purposes. It’s recommendable to take a business loan to start a business or boost the working capital of your business/grow your business.

Banks actually look at your need for a business loan. If your need is important i.e. you want to start a business/ boost working capital or expand, your chances of getting a business loan will be higher. The idea here is to make sure you are asking for money to engage in a business activity that is bound to generate income. Banks are interested in funding borrowers who show promising signs of repaying their loans so, make sure you convince your bank you need a business loan.

2. Prepare a solid business plan

To convince your bank to give you a business loan, you need to prepare a solid business plan. Banks look at the viability of your business when deciding whether or not to give you a business loan so, make sure you show your bank how you intend to setup and run your business profitably. To do this effectively, the money you get should be put into productive use. For instance, your business plan should state that you intend to spend the money to buy stock for your business as opposed to buying brand new furniture for your office since such spending doesn’t generate revenue. If your business plan shows great potential for making money, your chances of securing a business loan are high.

3. Find the right bank

Sometimes it’s just about finding the right lender. Different lenders focus on different aspects of business. Some banks focus on giving business loans while others focus on personal loans. To increase your chances of getting a business loan, you need to go to a bank that focuses on giving the type of loan you are looking for. Such banks need less convincing. If you have to change banks, do so by all means. The right bank for you is one that offers business loans. Furthermore, you are bound to enjoy other benefits such as lower fees/interest, expert advice, etc. since such banks understand the needs of entrepreneurs more and are interested in seeing you succeed.

4. Ensure you have whatever it takes to qualify

To qualify for a business loan or any other loan for that matter, you have to meet certain requirements. For instance, some banks require businesses to attain certain annual revenue figures before business loans are granted. Some business loans may also require collateral. Banks also require certain documents before they disburse business loans. For instance, if you already have a business, your business’s financials i.e. financial statements must be in order. To avoid wasting precious time, find out what it takes to qualify for a business loan before you apply for one.

Summary

To secure a business loan, you need to make sure you don’t give your bank any reason to deny you the loan. First and foremost, make sure you need the business loan in the first place. Your business plan also needs to be solid. Banks can identify viable business ideas at a glance so, makes sure you do your homework. Your focus should be proving that the money you will receive will be put to good use i.e. it will generate income allowing you to repay your loan with ease. It’s also important to find the right bank i.e. one that specialises in funding businesses. Lastly, you need to make sure you qualify for a business loan before you apply otherwise you’ll waste precious time.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.
Pension Scheme Could Earn Britons Hundreds of Pounds Monthly if Used Before April 5

Pension Scheme Could Earn Britons Hundreds of Pounds Monthly if Used Before April 5

Britons who have reached retirement age are being urged to increase their state pension income by taking advantage of a government offer that is due to be withdrawn on April 5th.

The scheme allows all Britons who missed out on the recent state pension introduced in 2016 to trade in a lump sum in exchange for a generous (index-linked) income for life. Any person who attained state pension age before 6th April 2016 has approximately two weeks to take advantage of the scheme which requires Class 3A national insurance as a pre qualification requirement.

According to Steve Webb, Former pension minister & Royal London policy director, retirement products working in a similar manner pay out two to three times higher than what annuities pay. Besides offering extra income, the scheme also offers a 50% payout to survivors when a pensioner dies.

In essence, a 65-year-old pensioner can trade in £8900 for £520 annually which would increase according to CPI inflation figures every year. The same pensioner would get just £195 annually or £347 after inflation adjustments if he/she bought an index-linked annuity.
The total cost of purchasing additional state pension under the top-up scheme depends on an individual’s age as well as the top-up amount. However, there is a maximum amount set at £25/week or £1,300/year. According to Mr. Webb, the scheme is attractive to individuals with a small pension/saving pot. The scheme is also attractive for women as well as individuals in good health since they are bound to live longer.

The scheme offers better value when compared with the annuity rates available today in the market. It’s a great way to boost a person’s recurrent income according to Mr. Webb. As a result, anyone who is eligible should consider taking advantage of the scheme before the April 5th deadline.

Is the Company Director of Swift Money Limited.
He oversees all day to day operations of the company and actively participates in providing information regarding the payday/short term loan industry.