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Young males aged between 25 and 34 in the UK are better at putting money away into savings than older generations are, according to a new survey conducted by National Savings and Investments, despite the fact that another survey shows that this age group also have more personal loan debt and bad credit loans than other age groups.

The survey found that the typical saver between the ages of 25 and 34 is putting away an average amount of £104 on a monthly basis, well above the national average savings figure of just £88.

Apart from financial security and being able to avoid taking out personal loans in the future for the things they need to purchase, such as a new car, for example, one of the biggest reasons for this increased level of savings is to build enough of a pot to cover the cost of a deposit on a house, in order to meet lenders’ restrictive loan to value levels.

Many younger people between the ages of 16 and 24 are also managing to save on a regular basis, with an average savings amount of 7.8 per cent of their monthly income, which is the best of any age group.

Whilst many in this group are saving for holidays or a car, so that they do not have to take out a holiday or car loan, others may have learned a lesson by seeing the financial position of their parents, many of whom are burdened with personal loan and credit card debt on top of their home owner loan repayments and increasing utility bills.

Whilst this is clearly good news, the flip side of this situation is that the same age group also account for the highest percentage of Debt Relief Orders for bad loan and credit card debts, which highlights the need for better financial education in schools from an early age.

One measure of the financial stability of a company is its ability to immediately retire current debt if necessary. The quick ration and the acid test are two similar calculations mean to determine if a company can immediately deal with debt. The difference is that the acid test typically does not include accounts receivable. Both calculations include cash and cash equivalents, marketable stocks and bonds, and current liabilities. The quick ratio, acid test, and a test measuring if a company can pay debts within a year, the current ratio, are used in fundamental analysis. These are considered basic stock information. . In understanding the stock market a knowledge of the measures of company strength and the ability to use these calculations to compare other wise similar stocks is important in picking stocks.

The quick ratio has cash and cash equivalent, marketable securities and accounts receivable as it numerator and current liabilities as its denominator. Read more…

Navigating the final aspect of the house buying process can be tricky. It is advantageous to know what hidden costs are lurking at the finish line.

One of the last parts of the home buying experience is the transaction of closing costs. The buyer will need to show up at the closing, when all the documents are signed, with around two to six percent of the cost of the mortgage in hand to cover what is called closing costs. While fees vary from lender to lender, this is a general standard in the industry. At times, concluding tolls are known as “originating points”; one point equals one percent of the mortgage amount.

What should a prospective buyer do to make sure he or she has enough money to cover the entire home transaction? For one, a buyer should never raid the 401(K) account to cover these pesky fees. Postponing 401(K) contributions and/or asking family to help chip in money are two common tips to avoid the pitfalls of closing costs.

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Nine Regions Ltd (Logbook Loans Ltd) appears to have lost its appeal against the removal of its consumer credit licence following a long court battle against the Office of Fair Trading (OFT).

Iain Shearer (Logbook Loans Director)

The latest information to emerge, and reported widely on the daily mirrors investigative blog “Penman & Sommerlad Investigate” was the fact that Nine Regions Ltd had admitted to sending thousands of letters to borrowers from a firm by the name of Adams Spencer & Phillips (Legal Services) Limited (‘ASP’) falsely threatening legal action against customers that were falling behind on there payments even though the company (now known to be run by Nine Regions Ltd themselves) had nobody qualified to bring court action. Almost

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