Latest news with #Moneyfarm
Daily Mirror
01-07-2025
- Business
- Daily Mirror
Age you should stop taking kids on holiday - and when they should start paying
Mums and dads hope the financial scales will tip in their favour and they'll no longer have to cover their child's costs by the time they turn 30, according to a new study by digital wealth manager Moneyfarm Adults should stop taking their kids on holiday at 30, at least if the results of a survey are anything to go by. After a decade of carefully planning mealtimes, noting nappy-change facility locations, forking out summer holiday rates for a resort with a kids' club, and then another decade of ensuring teenage children don't gain illicit access to an all-you-can-drink wristband, parents may be forgiven for deciding to go on holiday without children. However, a significant chunk don't. A 2023 study found that two-fifths of adults (42%) were planning holidays that year with their parents, as rising living costs squeeze families' travel budgets. And the Starling Bank poll revealed that more than a quarter—27%—of parents who are going away with their grown-up children said they are paying for some or all of their travel expenses to help them out during the cost-of-living crisis. Not everyone considers the set-up to be ideal. Mums and dads hope the financial scales will tip in their favour and they'll no longer have to cover their child's costs by the time they turn 30, according to a new study by digital wealth manager Moneyfarm. When their child reaches 33, a majority of parents would love for their offspring to take them on a staycation or minibreak, while they aspire to be taken on a foreign holiday by the time their child reaches 36 years old. This may be a pipe dream for most. Seven in ten (69 percent) say they still regularly buy and pay for things like clothes, holidays and even bills for their adult children, doling out an average of £324 a month. While 79 percent say they always buy their children a birthday and Christmas present, 17 percent only receive gifts back occasionally, while one in ten (13 percent) never get one in return. As a result, four in ten (41 percent) admit that they get annoyed about having to pay out so much for their adult kids. Chris Rudden, head of investment consultants at digital wealth manager, Moneyfarm, said, 'It is evident that many parents are quietly hoping for a financial tipping point, where the years of giving gradually give way, from the age of 30, to moments of receiving. 'While it is clear that most parents are happy to continue financially helping their children well into adulthood, there is clearly a growing desire to see that support reciprocated in meaningful ways. From small acts like an invite to dinner or a home-cooked meal to bigger gestures, if they can be afforded, these milestones reflect a shift in how families view financial inter-dependence. 'These financial milestones represent more than transactions, they are about finding joy and satisfaction in your children thriving enough to be able to give back.'
Time of India
27-06-2025
- Automotive
- Time of India
European shares rise on easing US-China trade tensions
European stocks rose on Friday, led by automakers , as signs of easing trade tensions between Beijing and Washington raised hopes of a de-escalation in the U.S.-led tariff war. The pan-European STOXX 600 index advanced 0.9% at 542.27 points, as of 0825 GMT. The index was on track to log its first weekly gain in three weeks. Other major regional indexes also traded higher. A White House official said on Thursday that Washington has reached an agreement with China on how to expedite rare earths shipments to the U.S. With worries about tensions in the Middle East easing for now, investors are focused on signs of progress on new trade deals before a respite on higher tariffs threatened by U.S. President Donald Trump expires in early July. EU leaders discussed new proposals from the U.S. on a trade deal at a summit in Brussels on Thursday. Commission President Ursula von der Leyen did not rule out the likelihood of tariff talks failing, saying "all options remain on the table". Live Events "There's lots of negotiation going on and it takes any sign that tensions are not going to re-escalate, would be taken positively," said Richard Flax, chief investment officer at Moneyfarm. "A deal will take longer...I think both sides will try and be able to declare enough progress to be able to extend the process without seeing tariffs rise again." European automobile stocks led sectoral gains with a 1.8% climb, followed by media shares that rose 1.6%. UK's JD Sports advanced 7.6%, while German sportswear makers Puma and Adidas gained 4.1% and 3.9%, respectively, after U.S. peer Nike's first-quarter revenue outlook exceeded market expectations. Indra gained 4.8% after Morgan Stanley upgraded the Spanish defence company to "overweight" from "equal-weight". Shares in the Knorr Bremse fell 4.7% after JP Morgan and Citi downgraded the German truck manufacturer to "neutral" from "overweight" and "buy", respectively. In the U.S., investors await the release of the core PCE price index due later in the day, which could offer additional clues on the Federal Reserve's rate trajectory. Meanwhile, adding to tailwinds, U.S. Treasury Secretary Scott Bessent on Thursday asked Republicans in Congress to remove the "retaliatory tax" proposal that would let Trump impose up to 20% taxes on foreign investors from countries with "unfair" taxes on U.S. firms.
Daily Mirror
09-06-2025
- Business
- Daily Mirror
Young Brits issued stark warning as nearly a quarter turn to TikTok money advice
A survey from HSBC UK and the national education charity, Young Enterprise, reveals that Gen Z feel judged about how they manage money, leading some to turn to unreliable sources for financial advice New research suggests that Gen Z feel judged by parents, friends and social media about how they handle their money. Despite a strong digital fluency and desire for greater financial literacy, the younger generation is dealing with low confidence and misinformation when it comes to personal finances. Survey findings from HSBC UK and national education charity Young Enterprise reveals that while half of Gen Z respondents are actively saving, 67% say they feel judged or embarrassed about how they handle their money - predominantly by their family. That compares to 33% of the wider UK population, exposing a generational 'shame gap' between young and older generations. . The survey also highlights that Gen Z does not feel particularly supported in their attempts to become more financially literate, especially by their schools. Only 13% of Gen Z respondents said they would turn to their school or university as a top source for money management education. This lack of formal financial education is leading Gen Z to seek less reliable sources of financial advice. Nearly a quarter of Gen Z respondents say they have turned to social media influencers for financial advice in the last year - almost double the UK average. According to the study this trend is not indicative of financial carelessness, but rather 'reveals the consequences of growing up without reliable financial education'. Sarah Porretta, CEO of Young Enterprise, said: 'The myth that young people are careless with money just doesn't hold up. Gen Z wants to be financially capable, but they don't feel supported…Teachers are doing their best in a crowded curriculum, but they need more support too – we can't expect them to tackle this challenge alone.' Research indicates that parents are paying the price for the lack of formal financial education. According to research commissioned by Moneyfarm, 84% of British parents said that their child would have access to money that they saved for them when they turned 18 - with the average amount being £23,000. While social media is not the most reliable source of financial information, it is helping younger generations fight the stigma about discussing their personal finances. The dying stigma is also enabling Gen Z to make more informed financial decisions, negotiate better salaries and encourage financial equity. Help us improve our content by completing the survey below. We'd love to hear from you! Additionally, a 2025 consumer survey from Intuit revealed 58% of 18-35-year-olds are integrating financial management into their overall wellness routines. The report confirms that the declining stigma actually encourages 'a holistic view of wealth that aligns with personal values and long-term life satisfaction.' But as the research highlights, it is up to more than parents and teens to prioritise financial education. This past March, Conservative MP Peter Bedford brought forward a motion in Parliament to introduce a bill to make provisions around financial education in primary schools and tertiary education. Speaking in Parliament on the issue, Bedford said: "Schools should prepare young people for the adult world. Yet for all the focus on balancing an equation, there is no attention given to balancing one's bank are sending our young people out into the world and putting them into the game of life without even teaching them the rules first."
Daily Mail
15-05-2025
- Business
- Daily Mail
60% of women are victims of the money mansplainers (that's a bit more than half, luv)
They save more cash than men, but six in ten women regularly experience financial sexism by having money matters 'mansplained' to them, according to a survey. A further 62 per cent said they have been interrupted and talked over by a male, who assumed they wouldn't understand a personal finance issue. Despite this, the research found that 57 per cent of women make regular savings or investments compared to just 46 per cent of their male counterparts. Almost half (48 per cent) of women say they have been belittled by a man when giving their opinion, with 54 per cent made to feel they are only interested in spending on frivolous items. Almost a third of women have been lectured on 'how investing works', and 29 per cent have had the opposite sex explain inflation. Shockingly, 45 per cent of men freely admit to feeling they legitimately have a better understanding of money, investing and personal finance than women. Males 'mansplain' money and personal finance to women an average of 11 times a month. Husbands and partners (33 per cent) are the biggest culprits, along with colleagues (31 per cent), fathers (23 per cent) and friends (22 per cent). The survey found 20 per cent of women have had patronising, unsolicited financial advice from male strangers. Work and home (both 40 per cent), social events (29 per cent) and the pub (18 per cent) are the top locations for money mansplaining. Carina Chambers, from digital wealth manager Moneyfarm, who commissioned the survey of 2,000 women, said: 'It is deeply concerning that women continue to face the ingrained assumption they lack the same levels of competence in financial matters as men. 'These outdated notions must be challenged, and an environment fostered where women's voices are valued... and where they feel comfortable asking questions in all financial discussions. 'After all, it is estimated that 60 per cent of the wealth in the UK will be held and controlled by women by the end of this year.' The savviest female savers live in Norwich (64 per cent), followed by Newcastle and Plymouth on 63.
Telegraph
09-05-2025
- Business
- Telegraph
eToro vs Trading 212: Which one should you consider?
Similarities between eToro and Trading 212 The two providers have a lot of similarities. These include: Stocks, ETFs, crypto trading and forex – trading currencies to profit from the sell – are available. Neither charges a platform fee or any trading fees to UK customers when they buy or sell shares. You can open an Isa on either platform. They differ on how the Isas work, however. At Trading 212 investors can choose their own investments, but at eToro the Isa is run by an external provider – Moneyfarm – which offers managed Isa portfolios. Both offer a type of social investing. You can also access a community forum on both platforms, where investors can share news and investment ideas, and browse other posts and conversations. Both charge a foreign exchange fee on trades in certain currencies. Both platforms charge a buy-sell spread on assets. eToro and Trading 212 are regulated in the UK by the Financial Conduct Authority (FCA). They are also backed by the Financial Services Compensation Scheme (FSCS). Advantages of eToro Ideal for both beginners and advanced traders. Customers have access to a wide range of assets – including over 6,000 stocks from 20 exchanges. You can also access investment trusts where other similar trading apps tend not to offer them. Offers comprehensive resources to educate both novices and seasoned investors, with plenty of analysis and data on hand. eToro is considered the industry leader in social investing, offering copy trading. This works just as the name suggests – you find a successful investor, also referred to as 'popular investor', and replicate their trades. Every time they buy or sell a stock you will do the same. You don't need to physically monitor and copy each and every move, as this can be done automatically. eToro allows you to copy up to 100 traders simultaneously. Advantages of Trading 212 Offers an extensive selection of investments with more than 13,000 shares across the major stock exchanges. Fees are highly competitive, with free trades on stocks and ETFs. At the time of writing, its cash Isa pays 5.07pc interest in for new customers for the first 12 months, 4.35pc afterwards – with no account fees, but the rate is variable and may change at any time. Stocks and shares Isa has no account or trading fees – and currently pays 4.6pc on any uninvested cash. It gives investors the option to choose their own investments to hold in their portfolio. Trading 212 offers a variety of ready-made portfolios – known as 'pies' – with different risk profiles (conservative, moderate, aggressive). They are also available by themes, or you can create your very own homemade pie. The Pie Library offers a list of the most popular shared pies so that you can explore a variety of new ideas and replicate any you like the look of. No inactivity fee if you need to take a break. Forex trading comes with a fee of just 0.15pc per conversion. Disadvantages of eToro At eToro you'll pay 1pc for buying and selling Bitcoin. eToro charges a flat $5 withdrawal fee on standard accounts. The fee is waived if you withdraw through an eToro Money wallet or if you're a Platinum-tier (or higher) club member. UK customers can hold their funds in GBP, but when trading assets priced in a different currency (such as US stocks) or when depositing and withdrawing in a different currency (via eToro Money), a currency conversion fee of 0.75pc applies. There is no phone support – customer service is only available on email, online ticketing systems, live chat or Whatsapp. A call can only be booked with an account manager for those with silver tier status – but you must have at least $5,000 in your account for this. Disadvantages of Trading 212 Trading 212 charges a foreign exchange fee of 0.15pc of the value of the trade when buying or selling non-UK shares. Less comprehensive research tools. You can't buy cryptocurrency direct – Trading 212 only offers cryptocurrency trading through Contracts for Difference (CFDs), allowing you to speculate on the price movements of cryptocurrencies such as Bitcoin and Ethereum. There's no phone support. Customer service is only available on email, online ticketing systems or live chat. Only whole shares are transferable, so if you have taken advantage of buying fractional shares it's not possible to transfer your assets to another provider. If you close your account, the fractional shares held in your account will need to be sold. You'll then have to start investing elsewhere through another broker and re-buy your previous positions. However, there is a way you could get around this. For example, if an investor holds 60.2 shares of Apple; to fully transfer out, they would either need to sell 0.2 worth of fractional shares or buy 0.8 shares to round the quantity to 63. Which one is best for you? This depends on a lot of factors – your investing style, how much money you're investing and what kind of services you really value. How and what you invest in will impact your decision. For example, if you're a fan of investment trusts you might be more inclined to use eToro. But if you already invest in funds in a separate platform account this might not be enough to sway you. If you like to invest in overseas stocks, thanks to the low foreign exchange fee, overseas share trading at Trading 212 is very competitive.
