A recent survey2 shows that many of us spend with our hearts rather than our heads. ‘Trend spenders’ don’t feel overly worried about splashing out and are keen to maintain their lifestyle, and are the largest group among the financial personality types. By contrast, less of us are defined as ‘Skilled savers’ and ‘Budget gurus’.
ONE MILLION CHILD TRUST FUNDS LOST BUT CAN BE TRACED
Child Trust Funds were put in place for all children born between 1 September 2002 and 2 January 2011 and kick started by a £250 payment from the government. It’s estimated that one million of these have been overlooked3 and a new campaign is looking to reunite them with their owners. For more information visit www.shares4schools.co.uk/usefulresources/ find-ctf/
PENSION SCAM LOSSES JUMP 70%
About £51m was lost to fraudsters through pension scams reported to the City of London Police from April to June this year, with the average age of the victim being 57 and the average amount £91,0004. Frauds often begin with an email, phone call, text message or social media contact, and end with people being lured into parting with their pension savings through bogus schemes offering outlandish returns that never materialise. Don’t get caught out, take professional advice before moving your pension.
3The Share Centre, 2018
4City of London Police, 2018