Of course, one man’s financial security is another’s breadline, it’s all relative. Some we know are happily living in retirement on their state pensions with no need to dip into investments, others with big pensions work their way pretty quickly through the rest of their savings to keep their ship or yacht afloat. So what are the ‘basic benchmarks of financial security’. In no particular order, having an emergency fund, affordable debts of less than your worldly worth, knowing what you spend, saving regularly, having insurances and some sort of plan for the future. Although the majority worry about money, most (I know, it’s a survey) worry about the wrong things (the cost of living, the next holiday) and, as in our experience, having a good income doesn’t make you wiser or better at any of this. Does anyone remember learning or even hearing about any of this at school? The Corn Laws and terminal moraines, yes, financial planning, alas, no.
Budget Rumours and Possibilities
The Budget Rumour Machine is not the shambles it was last year. Before Rachel’s Swansong all sorts of stuff was leaked to see what sort of puddle it would create.
