The Financial Times Guide to Managing Your MoneyHow to be better off by making better financial decisions
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If you want to be better at money management, feel more secure about your financial future and be on top of your personal finances than this is the book for you.
By adopting simple, everyday techniques in eight key areas, you can develop your own personal and practical approach to money management. This will help you make better decisions about both your monthly budgeting and long-term financial planning.
Because finances dont have to be boring, in an informative and entertaining style, this book will:
Give you lively advice and practical examples about every aspect of money including budgeting, spending, borrowing, saving, investing and scams.
Ensure you have the basics covered in a way that is most financially beneficial for you.
Ensure you feel more confident about tackling many of lifes biggest financial challenges such as buying a home, buying and running a car, holidays, marriage, the expense of raising children, sickness, unemployment and other hiccups.
Table of Contents
1. An Introduction to Mastering Money
In this short introduction, you will begin to understand how better money management will fatten your wallet or purse, plus make you feel better mentally, physically and spiritually.
2. The Benefits of Better Budgeting
Boost your earnings
Claim state benefits
Get a pay rise
Get help with childcare costs
Keep a spending diary
Keep up with the Joneses
Manage your money like a business
Measure and manage your progress
Spend less than you earn
3. The Secrets of Spending Less
How to find gains without pain, including:
Bash your bills/trim everyday expenses
Beware of your latté factor
Giving to charity/Gift Aid
The paradox of affluenza
4. Become a Better Borrower
Everything you need to know to get to grips with:
Current accounts and overdrafts
Getting out of debt
Home loans/mortgages/secured loans and second mortgages
Understanding your credit report
Unsecured personal loans
5. Be a Smarter Saver
Discovering the joys of saving, including the ins and outs of:
Accounts for the over-fifties
Cash Individual Savings Accounts (ISAs)
Child Trust Funds (CTFs)
Childrens savings accounts
Everyday savings accounts
Guaranteed income bonds (GIBs)
National Savings & Investments (NS&I)
6. Protect Yourself and Your Assets
Learn how to protect yourself, your income, your family and your prized possessions through insurance. Covers:
Critical illness cover
Hospital cash plans
Life insurance and mortgage protection
Making a Will
Payment protection insurance
Private medical insurance
7. Turn into an Intelligent Investor
How you can harness the power of long-term investing to make you rich. Topics covered include:
Buying into businesses is not like buying a lottery ticket
Choosing a stockbroker
Employee share schemes (Sharesave/SAYE and Share Incentive Plans)
Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs)
Fund supermarkets and discount brokers
Guaranteed equity bonds
Individual savings accounts (ISAs) and Personal Equity Plans (PEPs)
Investment styles: high-yield, index-tracking, value, etc.
Monthly saving and investing lump sums
Picking individual shares
The power of compound interest
Unit trusts and open-ended investment companies (OEICs)
8. Pump up Your Pension
Planning ahead for a luxury retirement; advice covering:
Additional voluntary contributions (AVCs)
Self-invested personal pensions (SIPPs)
The tax benefits of pensions
9. Steer Clear of Scams
By the end of this chapter, you will be able to recognise and avoid a whole host of swindles, including:
Bogus property investments
Dodgy share-trading software
Fake invoices and data-protection services
Make a Million seminars
Phishing emails and calls
Ponzi, pyramid and matrix schemes
Premium-rate telephone lines
10. Summary and useful contacts
Addresses, telephone numbers and websites
Thanks to two decades in financial services, Cliff has inside, expert knowledge on what makes financial firms tick and how they go about making money from consumers. Naturally he uses this information to
show his readers how to become richer by ditching the dirty deals!
As a freelance writer and broadcaster, he covers all aspects of personal finance from budgeting, spending, saving to insurance and stock-market investing.
The FT Guide to Managing your Money draws on lessons from his own experience of learning to get to grips with his personal finances. He turned his life around from being in debt in the late nineties to now being in the top 2% of the country for income and personal wealth.