An investment trust is a company where shares can be bought. These companies are normally quoted on the Stock Exchange. Many investors can own shares in the same trust which is why these investments are often known as ‘pooled’ investments.

The investment trust makes it’s money by investing in shares of other companies. Usually, there are no restrictions for the investments meaning some investment trusts may be investing in higher risk investments such as companies in emerging companies or unquoted securities.  Read more... (136 words, estimated 33 secs reading time)

A unit trust is a portfolio of investments that spread the market risks. This means an investor has a reduced risk becaise they have pooled their investments.

Cash buys the units in a unit trust. Every unit trust has many people holding units within the fund. Unit trusts are open-ended investments – this means that the number of units within the trust will vary depending on the supply; more units will be created if more investors join.

A variety of funds is covered by unit trusts and they funds will be grouped together into sectors, covering style, area and risk level that the fund has chose to invest in.  Read more... (254 words, estimated 1:01 mins reading time)

With Profits Bonds are single premuium whole of life policies. They are offered by many insurance companies and they usually require lump sum investments. The amount of the life cover is usually minimal. Most people take out With Profits bonds for investment growth and not solely for the life cover.

The investment buys units with the insurer’s With Profits fund. The money will be invested in a wide range of assets, for example shares or property. Bonuses are added annually due to the allocation of extra units or a unit price increase.  Read more... (237 words, estimated 57 secs reading time)

With the introduction of University Fees, students these days must accept that most of them will need to borrow money in order to fund their education. The big issues are finding the best ways of borrowing and using the money wisely.

It is important to get a grip on your finances. Now is the best time to learn how to budget as this will set an excellent foundation for good money habits in the future, and will also minimise the debts accrued whilst at University.

Tuition Fees  Read more... (940 words, estimated 3:46 mins reading time)

Aside from eBay, there is a rapidly growing market for old mobile phones which can net you from £20 up to £150. Apart from removing clutter, selling on your old phone is a good thing – both for your pocket and the environment. Some batteries contain cadmium which can get into the water system. Some phones also contain lead and beryllium, both of which can harm the environment if they are not disposed of correctly.  Read more... (347 words, estimated 1:23 mins reading time)

Date

Dear Sir/Madam,

Ref: Account number: xxxxxxxx (your account number)

I understand that the charges which were applied to my bank account with regards to the following (enter all relevant details here) are unlawful.

At the time of opening my bank account, I entered into a contract with you. At this time, you agreed to act lawfully at all times. However, the fees that you have been applying to my account in relation to the above are unlawful under Common Law, Statute and consumer regulations.  Read more... (223 words, estimated 54 secs reading time)

Obviously, the best thing to do would be to not be charged in the first place. However, everyone makes mistakes and the charges can often leave you short for the month meaning it starts off a spiral of increasing bank charges.

The Law

Most penalty charges are unlawful. Charges can only be imposed by the banks if they are proportional to the cost of handling the problem. Most banks will charge £30 for going over your overdraft limit – it doesn’t matter how much; it could be 1p or £1,000. You will still be charged for the bank to send you an automated letter. £30 for an automated letter appears to be out of proportion. This means it is against the law and you should be able to claim back those charges.  Read more... (734 words, estimated 2:56 mins reading time)