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How much could you earn over 10 years by being more financially agile?

Why – Financial Apathy could be costing savers thousands Research conducted by Crowdstacker among 1,000 UK adults in September 2015 40% of those 21% of people with a pension have never changed provider have never changed their bank in the UK 55% haven't 33% of those changed their utility provider in the last 3 with stocks and shares have never changed them years We only make changes, on average, once every 5 years Why don't we make changes? 35% 28% 11% said they don't follow of those suffering with "financial apathy" said they don't want to change the way they do things said they simply don't know how to begin comparing value and performance between different providers their investments or the markets for competing products closely Here's how the costs of "financial apathy" could break down over 10 years: £6,890 in pension losses. Average middle -aged pension pot: Average UK pension fund fell by every year 10.1%between £53,000' 2001-20102 FTSE 100 rose 13% over same period 2001-2010 FTSE 13% THE INDEX COMPANY So, by tracking the FTSE 100 index £53,000 could turn into £59,890, while an average performing fund would have lost money £2,500 in savings losses. Average UK household saves £16,400* 50% of surveyed savers hold a cash ISA. But 40% of those cash ISA savers said they monitor the performance of their savings less than 40 34 and 34% have never changed their bank once a year accounts Save £16,400 in a cash ISA: A good cash ISA savings rate of 1.51% = £247.61 per year interest A poor cash ISA savings rate of 0.1% = £16.40 Over 10 years, the compound interest lost with the poorer product = £2,500 %3D £3,299 lost from not including peer to peer lending. If the average British household put just 10% of their savings o pot (£1640) into a peer to peer product targeting 5.5% annual return... .. and keep the rest in a better performing cash ISA, it could make £3299 in interest over 10 years. £5,120 lost by sticking with expensive utility providers. . Plus switching gas and electricity providers 3. could save a further £512 per year. Read the full article at CROWDSTACKER Your capital is at risk if you lend to businesses through peer-to-peer lending. Peer-to-peer lending is not covered by the Financial Services Compensation Scheme FSCS. Tax treatment may be subject to change. 1. Source: Aviva research, July 2015 2. Source: The Organisation for Economic Cooperation and Development, 2012 3. Source: The Office for National Statistics 4. Source:

How much could you earn over 10 years by being more financially agile?

shared by crowdstacker on Dec 01
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The average household could earn £££s extra over 10 years. Here's what consumers could be doing to earn more. Based on P2P lending platform Crowdstacker's survey of 1000 UK adults in September 2015.


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