Under-25s are more likely to be defrauded on the phone than older generations � here's how to stay safe and the scams to watch out for

Under 25s are 75 per cent more likely to have been scammed in 2017 than those aged over 55, according to figures from call-blocking firm Truecaller.

Younger generations tend to trust technology more than their elders, making them particularly susceptible to fraud. Furthermore scammers are increasingly turning from targeting landlines - more commonly used by older generations - to mobiles - used by younger people.

The true scale of financial fraud is also hard to nail down as the research shows that as many as two-thirds of people who have been stung are too embarrassed to report it.

As a result, This is Money � which launched its Beat the Scammers page in 2016 � along with Truecaller have come together to offer hints and tips for millennials to watch out for when it comes to fraud.

It is a must read for a generation who have grown up trusting technology and at time when the typical Briton receives seven nuisance calls and three spam texts a month, according to its research of more than 2,000 people.

Truecaller say that nuisance calls and scams have traditionally targeted the elderly, with pension pots plundered by fraudsters preying on so-called easy targets, but now younger people are increasingly in their sights.

In the wake of a ban on cold calls targeting pensioners, Truecaller say the Government has missed one of the scammers' main targets - tech-loving youngsters.

Furthermore, its research shows that of those who have been defrauded, 25�34 year olds lose the most amount of money from phone scams compared with over 55s who lose the least.

Fraudsters are moving from direct cold calls on landlines to robocalls, texts and WhatsApp messages via mobile and tablet devices.

In 2018 this is set to get worse, especially as only 54 per cent of people are savvy enough to never answer calls or text messages if they do not recognise the sender.

Nick Larsson, head of growth and partnerships at Truecaller, said: 'Millennials trust technology from an early age.

'From conversing with friends and family to using their smartphones for mobile banking, 18-24 year olds explicitly put trust in their pocket.

'But with our research showing that they are the most targeted group when it comes to scams and spam � this trust and familiarity with technology can sometimes be misplaced.

'The elderly therefore aren't necessarily the priority for educating on scams and spam.

'In fact it is the younger generation who use smartphones all day, every day, who need to wake up to the dangers of being so well connected by technology - even if it is just answering an unknown number.'

HOW TO STAY SAFE

Mobile phones stand as much more than a platform for social media apps, texts, calls and e-mails - they are sadly now a hunting ground for identity thieves.

The information people unwittingly put online can be used by scammers in fraud attempts to steal money or identities.

Truecaller and This is Money have compiled the below top tips for staying safe when using your mobile phone:

1. Think twice

Always be cautious when receiving text messages from unknown numbers.

Pay extra attention to if the country code is from abroad.

However, caution is required even when text messages appear to be from known senders.

Fraudsters can make texts appear as if they have come from banks, even appearing in genuine text message threads. 

These can contain links to malware or include phone numbers of fraudsters.

2. Ask for verification

If you receive a suspicious call or text message, always ask the person to verify themselves and get them to send more details over e-mail.

You can also contact an official representative of the company to verify the information.

It is better to be safe than sorry - do not be pressured on the telephone.

Remember that fraudsters may try to make you panic or flustered on the phone to increase the chance of you making a mistake.

3. Keep up to date

Ensure you regularly update your apps and phone software as they have the latest security features.

It may also be worth considering installing anti-virus software onto your mobile phone. Many will do this with their laptop, but not think there is a need for a phone.

Think twice about what you share and who you answer too, and avoid posting information that makes it easier for fraudsters to replicate your data and online persona.

4. Online dating

Beware of who you are speaking with when using popular dating websites and apps.

Scammers use the platform to groom victims into long-distance relationships using e-mails, instant messaging, texting and phone calls.

Once they've gained your trust, they are able to gain information that allows them to answer security questions as you.

5. Never share sensitive information

Your bank will never require you to share sensitive information like account details or passwords over the phone.

If in doubt, hang-up and ring the number on the back of your debit card from a different phone - fraudsters can stay on the line.

You can also pop into your local branch with any concerns (if it hasn't been closed).


6. Suspect a phone scam?

Hang up and never ring back the number.

There's a type of scam that is called one-ring scam where fraudsters play on your curiosity and give you a missed call - and when you call back you'll be charged a crazy amount of money.

Suspect an e-mail scam? Same rules apply, don't reply to it or click on any of the links, pictures or attachments.

7. Wi-fi warning

Increasing numbers of locations offer complimentary wi-fi.

However, be warned the next time you online shop, bank and enter passwords, a wi-fi attack on an open network can take less than two seconds.

Keep wi-fi activity to surfing the net and leave the important stuff to when you're home on a secure network.

8. False job listings

As the largest generation in the workforce, young people can be easy prey for fraudsters.

False job listings can appear as seemingly legit job posts and recruiter messages.

Before accepting a LinkedIn request, or messaging back a recruiter, dig a little deeper and look for warning signs such as an incomplete profile, low connections and foreign email addresses.

Research the sender's name to ensure they exist and are who they say they are.

9. Use strong secure passwords

Use a password that's strong and secure - something like the first letters of a line of your favourite song, just make sure you include a mix of cases and numbers.

Always use a different password for each platform. If you use the same for a number of different accounts, fraudsters can quickly attack in a variety of ways.

10. Don't suffer in silence

Speak out to spread awareness of scams. The more it's spoken about the more we can protect against fraudsters.

If you have fallen victim to fraud, you can get in touch with This is Money: lee.boyce@thisismoney.co.uk

You should also log it with Action Fraud UK - any trends that can be spotted may help prevent future victims from making the same mistake. 

Money Pit Stop: We are high risk investors who want to retire at 50 on �50,000 a year - can we make it?

In our series Money Pit Stop, we ask an investing expert to give our readers a free portfolio makeover.

Merchant seamen Fiona and Greig, both aged 35, want to retire at 50 but have reached a crossroads on how best to invest their retirement savings.

Between them the Glasgow couple currently have a combined pension investment pot of �240,000 plus their own mortgaged home and a buy-to-let, and hope to be able to retire with a �50,000 joint income in just 15 years' time.

To do that they plan to pursue their high-risk Asian growth-focused investing strategy and take advantage of one of their pension schemes being an international plan, which lets them access funds at 50 rather than 55 - the earliest age UK savers can usually tap pensions without getting hit with a massive tax penalty.

But this more flexible scheme has just undergone a revamp, throwing them out of the Asia fund they used to invest in and offering a different small choice of funds.

They want to know whether they should stick with this limited range of investment funds for the sake of getting early access to their money, or move it to a Sipp where they could pick other funds they feel have more growth potential.

Should they decide to transfer out, they would like to know what kind of pension investment portfolio might best achieve their goals, given they have a high risk appetite and want to retire in 15 years' time on around �50,000 a year.

They are also considering selling the buy-to-let, which has �80,000 worth of equity, and investing the money in Isas, which they plan to make more use of with their regular saving.

Are their early retirement dreams achievable? We ask a financial planner.

Travel firm charges couple a �35 premium for an airline window seat... without a window

Britain's biggest travel firm TUI is reviewing its airline seat booking policy after a passenger paid for a window seat that didn't have a window next to it.

John Heslam, 66, and his wife Annette, 61, from Foxton, Cambridgeshire, had booked a two-week Caribbean cruise in March last year, starting in Barbados.

They'd paid �70 to guarantee seats together on the nine-hour flight from Gatwick and the return trip � �35 each.

John had deliberately chosen a window seat for himself, as he enjoys the view during take-off and landing.

But when the couple boarded, they discovered they were seated in a row on the plane with no window, and so John was sat next to a blank wall.

It was the same on the way back.

When they got home, the couple complained and asked for a �70 refund to cover the cost of booking the seat, but TUI refused.

John, who used to work in sales, says: 'It's so easily avoidable. Just make a note on the seating plan that row 37 doesn't have a window.

Then I could have chosen a different one.' TUI has since agreed to refund the �70 seat booking fee.

Retired businessman John Eddom's nest egg was raided without him realising

A man who expected to retire with a pension pot worth �100,000 has been left with just �3,000 because his provider sold all his shares to cover unpaid fees � without his permission or knowledge.

Retired businessman John Eddom, 65, fears he will be left struggling in his old age after his nest egg was raided without him realising.

His pot was worth �50,000 when he stopped saving in 2000 and if his investments had been left alone he would be sitting on a fund worth more than �100,000 today.

But without his knowledge, his pension company sold all his shares in 2005, raising �17,000 to pay the annual fees for his plan. John only found out late last year.

Money Mail research found most pension plans contain hidden small print that lets investment firms raid your retirement nest egg for unpaid fees.

Major firms including Aviva, Prudential and Hargreaves Lansdown include clauses in savers' contracts that allow the company to sell your investments to claw back fees they are owed for managing funds.

These draconian terms are usually enacted only as a last resort.

But when they are used, the clauses can deprive savers of lucrative returns. And in the most extreme cases, the practice can empty entire savings pots.

Most at risk are workers who have stopped contributing to their pension or who have moved home without notifying their pension company.

In some cases, they may not realise their investments have been sold until it is too late.

John only discovered last year, just months away from retirement, that his pension firm Rowanmoor had sold his investments years earlier.

He had started saving into the plan in the early Eighties, when he was earning good money from his own haulage business, Eddom.

By 2000 his money was invested in shares such as Amazon, U.S. technology company Qualcomm and blue chips such as United Utilities.

Dow drops more than 400 points after Trump announces tariffs

The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. The Nasdaq and the S&P 500 declined 1.3% apiece.

Trump's controversial tariff announcement caught investors off guard and immediately raised concerns about retaliation from China or other major U.S. trading partners.
 "This is the first shot across the bow over a trade war," said Art Hogan, chief market strategist at B. Riley FBR. "And nobody wins a trade war."

Trump said his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. It was not immediately clear whether Trump would exempt some countries from the tariffs, as his national security advisers have urged him to do to avoid hurting U.S. allies.

Corporate America has warned Trump that tariffs could backfire. Last month, the Business Roundtable warned of the risk of "foreign retaliation" that would "harm the U.S. economy."

Investors will be looking to see how U.S. trading partners react to the tariffs.

Beyond worries about retaliation, the tariff news drove concerns about rising costs for companies that rely heavily on aluminum and steel, like auto and plane makers. Imports make up about a third of the steel American businesses use every year, and more than 90% of aluminum used here. Shares of Boeing (BA) fell 3% General Motors (GM) dipped 4%, and Ford (F) dropped 3%.

 If the tariffs result in higher prices on steel and aluminum, companies that rely on those products may pass on some of the costs to consumers. That raises the specter of creeping inflation.

"This clearly will [lead to] higher prices in the production chain, which is part of the inflation path," said Quincy Krosby, chief market strategist at Prudential Financial.

The timing of the tariff news surprised Wall Street. A formal announcement was expected at some point Thursday, but then it was called off. Later, Trump mentioned his tariff plans in a hastily arranged listening session with steel and aluminum executives. And he didn't provide crucial details, such as whether certain countries will be exempted.

Concerns about trade come at an already shaky time on Wall Street. The S&P 500 and Dow fell about 4% in February, their worst month in two years. Fears about inflation and soaring bond yields caused a surge in volatility, including two 1,000-point plunges for the Dow.

The market had come back as investors focused on the strong economy and booming corporate profits. But stocks fell sharply again on Tuesday and Wednesday, putting the Dow back in negative territory for the year.

Turbulence has picked up as well. The VIX (VIX) volatility index spiked 15% on Thursday. Selling pressure will climb as volatility increases, Krosby said.

At least two corners of the stock market cheered Trump's tariff announcement. U.S. Steel (X) and AK Steel (AKS)soared 6% and 10%, respectively.

Century Aluminum (CENX) also spiked 7%. Another major aluminum maker, Alcoa (AA), gained 1%.

Trump's tariff moves could force investors to confront another trade issue: NAFTA. Trump has repeatedly threatened to tear up this major trade deal with Canada and Mexico. Talks to renegotiate NAFTA, a major piece of the U.S. economy, have so far failed to produce a solution.

"It sets off the protectionist fears that had been lying dormant," said Hogan.

� CNN's Jeremy Diamond contributed to this report.

Fed's Powell sees 'no evidence' the US economy is overheating

Federal Reserve Chairman Jerome Powell sees no sign that US economy is building too much steam.

The job market is tight, but Powell isn't worried that wages are rising too quickly, which can lead to inflation. If anything, he's surprised wages haven't risen faster.

"There's no evidence that the US economy may be overheating," Powell said during a Senate Banking Committee hearing. The newly minted Fed chair made his second appearance on Capitol Hill this week to deliver the central bank's twice-a-year report on the state of the US economy. 

 Wage gains have been slow in the years since the Great Recession, which is one reason it hasn't felt much like a recovery to many people. Wages finally picked up in January, growing at the fastest pace in nine years.

Related: Fed's Powell says he's confident 'good years' are ahead for U.S. economy

"I'll be honest, I would have thought you'd seen more wages increase by this point," Powell said during the hearing. "And I do think you'll begin to see wage increases coming."

Fed officials have been patiently waiting for paychecks to grow. The challenge ahead for policymakers will be to stay one step ahead of price pressures.

"The thing we don't want to have happen is to get behind the curve of inflation and have to raise rates quickly and cause a recession," Powell told lawmakers.

The Fed has been trying to nudge inflation higher without risking a recession. It remains below 2%, the level the Fed considers healthy for the economy. Fed officials anticipate inflation will get closer to their target this year.

For years, when unemployment was higher, the risk of inflation was low � and not much of a worry for the Fed. Now that unemployment is historically low, central bankers have to be more careful about keeping it in check.  

Historically, the Fed has done a poor job of braking fast enough without causing an economic downturn.
That's why, for now, Powell believes the right course is for the Fed to raise rates gradually to help extend the nine-year economic expansion. The US central bank has penciled in three rate hikes in 2018.
"My expectation is that will continue to be the appropriate path as long as the economy performs this way," Powell said.
The Fed chair boosted his economic outlook earlier this week during a House Financial Services Committee. The rosy forecast caused investors to raise the odds the Fed may go further and raise rates four times this year.
The Fed holds its next interest-rate policy setting meeting later this month.

Boost your income by thousands of pounds using a simple trick allowed under new pension rules

 Millions of workers coming up to retirement could boost their income by thousands of pounds using a simple trick allowed under new pension rules.
In some cases, this little ruse could boost your take-home earnings by 41 per cent - a perk normally reserved for the super-rich.

So, how does it work? Quite simply, it involves putting every spare penny you earn into a pension � particularly for those who have paid off their mortgage and no longer have children to provide for.
You could even use your cash savings, as the perk you�d get would far outweigh any interest the High Street can pay.

It might mean a year of living frugally, but it could well be worth it for any of the 3.5 million baby-boomers hitting retirement age in the next five years.
Normally, a basic-rate taxpayer would pay �200 tax on every �1,000 earned. A higher rate taxpayer would pay �400.
But instead of putting the remaining �800 (or �600 for a higher-rate taxpayer) into a bank account, if you put it into a pension you�d get all the tax back.

So, if you paid in �800, then you�d get �1,000 in your pension if you�re a basic- rate taxpayer.
All you do then is take it out a year later, or whenever you retire. The perk comes because under new pension rules, you�ll be able to make each withdrawal with a quarter tax-free. So, only �750 of every �1,000 is taxable.
A basic-rate taxpayer would then pay �150 tax on the remaining �750. In total, they would have �850. That�s an extra �50 income for every �1,000 invested, compared with if they had simply pocketed the money initially.
A higher-rate taxpayer would pay �300 tax on the �750 taxable amount, giving them a total of �700. That�s an extra �100 on every �1,000.
But there is a further boost for those who are higher-rate taxpayers when they are working and become basic-rate taxpayers when they retire.
All you�ve really done is deferred taking your income for a year or two. But by doing so, you�ll get �850 for every �1,000 you earned rather than the �600 if you took it now. That�s an extra 41 per cent income.

This has become possible only since the pension rule changes. Previously, most people would have been forced to buy an annuity with the taxable sum.
But new modern pensions known as self-invested pension plans (Sipps) will allow you to take out the money almost instantly.

For this to work, it will need to be one of these types of pensions with very low or no charges, as older insurance-style schemes and many employer schemes won�t let you have the money so easily.
We�re not suggesting you invest the money or splash it on the stock market. You just need to put it into a Sipp and leave it sitting in cash.

Then, when you retire a year or two later, take it out again. Suitable Sipps include those run by Hargreaves Lansdown and Fidelity Personal Investing.
Hargreaves would make no charge if the money was held in cash, but there would be a �250 charge if it was not left for at least a year. With added interest, a basic-rate taxpayer could walk away with �851.40 after a year and a day.

Looking forward: New modern pensions known as self-invested pension plans (Sipps) will allow you to take out the money almost instantly
Fidelity Personal Investing has a 0.35 per cent basic annual charge, but this is effectively cancelled out by the 0.35 per cent interest it pays on cash. It makes no charge on withdrawals. Many others have much higher administration charges, which would undermine the tax benefits.
For example, Barclays Stock- brokers charges �186 a year including VAT; Charles Stanley �120 a year including VAT.

Others have charges for administration, income payments or setting up the Sipp.
You can put �40,000 a year including the tax relief into your pension. You may not feel that you can sacrifice so much from your pay packet, but you are allowed to use money in your savings account, too � and that is currently earning a pittance.

The �50 boost you get as a basic-rate taxpayer is equivalent to 6.25 per cent interest.
For people who are higher-rate taxpayers now, but will drop to basic rate on retirement, it�s more complicated, but it�s the equivalent of earning 41 per cent interest.
There are some key things to remember. Any income you take from this Sipp will be added to your other income to decide how much tax you must pay that year.

If you�re very close to becoming a higher-rate taxpayer, it could tip you into the 40 per cent bracket.
Therefore, you may need to spread it over a few years to avoid paying higher-rate tax. When it comes to contributing, you must have paid the tax to get tax relief.

Those who don�t pay tax can contribute up to �2,880-a-year and receive a top-up to create a pension of �3,600. This can be useful for non-working spouses.
One key group should not do this because it would leave them worse off: those who expect to be higher-rate taxpayers when they retire, but currently pay basic-rate tax.

This may be the case with people who were in highly paid jobs, but are easing towards retirement in lower-paid or part-time positions.

Financial Planning Basics-The Financial Pyramid

This is the third post on the Financial Planning Basics series, if you have not read the last post click here.

Understanding the Financial Pyramid is an essential part of understanding the financial planning process. I will try to outline the basic concept of the Financial Pyramid as it applies to personal financial planning.

The Financial Pyramid is a visual aid to help understand the necessarily steps to reaching financial freedom, just like a pyramid it has several layers starting from the base to the tip.

The Base-The Financial Plan

The financial pyramid starts with a base foundation, which is a written financial plan.  This can be as detailed and complicated or as simple as you want it to be, it generally starts of fairly simple and develops overtime in a more complex plan.

Things that usually belong in your written financial plan are:

• Your short and long term financial goals
• Insurance coverage and
• Your Investment Policy

This is the base of the pyramid and the foundation of your financial plan, this will be your guide throughout the next few decades and will be updated as your situation changes. Think of it as a map for a road trip, it will guide you to your destination.

The Financial Pyramid

• The Financial Plan

• Protection
  • Insurance, Will and Power Of Attorney�s
  • Debt Reduction
  • Emergency Savings
• Savings
  • Home and RRSP, TFSA
• Wealth Building
  • Non-Registered Investment
• Speculation
  • Real Estate, Art, Collectibles

Level 1- Protection

One stage that is way to often forgotten and not seen as important is the protection stage in your financial pyramid. This stage is a very crucial stage in planning and usually includes the following items:

• Insurance (Life, Health, Disability, Critical illness Insurance etc)
• Will and Power Of Attorney�s (health and property)
• Establishing an Emergency Fund (3-6 months of salary)

In many cases when I talk to individuals and families about their financial plan this stage is either missing or incomplete in their financial plan, however without appropriate protection your whole financial plan is at risk. As you can see, from the illustration, it is located at the bottom of the financial pyramid and is a large part of the pyramid, what happens if its too small or too loose? The whole pyramid will be at risk, one small unexpected change can cause the whole pyramid to collapse.

 The purpose of the stage is to provide you with a cushion in case of an unexpected event such as job loss or health issues, if you do not have enough in emergency savings or insurance chances are that you will dig into your long-term savings which will undoubtedly jeopardize your long term goals.

Level 2- Savings

This is the stage where most people start their financial plan, it�s the savings stage. Some common items at this stage are:

• Purchasing a home
• Contributing to RRSP and TFSA accounts
• RESP

You should continue to this stage only and if only you have completed the first steps, otherwise your financial plan will be at risk. You should have a valid Will and POA�s as well as enough Emergency fund and Insurance to purchase a home and make comfortable contributions to your RRSP.

The purpose here is to start building your wealth and investments, it�s the first stage at the journey to financial freedom.
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Level 3- Wealth Building

It�s an extension to the second level, ones you have become a home owner and have adequately funded your RRSP�s and TFSA accounts you can start building non-registered investment portfolio�s. It does not make a lot of financial sense to have a taxable investment portfolio if your tax deferred (RRSP) and tax free (TFSA) accounts have contribution room.

Level 4- Speculation

Ones you have reached a level where your debt is low or zero, you have enough retirement funds and enough wealth accumulated in your investments you can start speculating. Speculation is very risky and only a very small portion of your assets should be invested in it, generally maximum of 5%. Speculation could range from buying speculative investments, like junior gold companies to investing in private partnerships. Again the important point to remember is that only a 5% of your assets should be in here.

Got Wealth? 6 Strategies for Protecting It

Many of us plan our finances so that we can build wealth over time. However, the problem with starting out from a place of fewer resources is that it�s easy to think of wealth as the end product.

What should you do once you have achieved a certain level of wealth? Now that you have money, you need to protect your assets. Here are 6 strategies for protecting your wealth:

1. Umbrella Insurance

Many of those with financial resources find themselves the targets of lawsuits. If you have a lot of money, you are more likely to be a target. If you are in an accident, or if someone slips on the ice in front of you house, and you are clearly wealthy, you are more likely to be sued.

Umbrella insurance can help protect your assets. Many insurance policies have limits on payouts. If you need more coverage in order to prevent the loss of assets, you can purchase umbrella insurance.

2. Professional Liability Insurance
Professionals and many business owners get this type of insurance to protect their assets. If you don�t have this type of insurance, and you are sued, your assets could be at risk. With the right coverage, the insurance company pays what is owed, and you avoid having your resources drained. Malpractice and errors & omissions insurance policies are examples of professional liability insurance.

3. Tax Planning

The more money you have, the more you pay in taxes. While you should pay your legal share in taxes, there�s no reason to pay more than you have to in taxes. The right tax planning can help you keep more of your money. Tax-advantaged investment accounts, as well as estate planning strategies can help you put more of your money to work for you.

4. Get Rid of Liabilities

Consider your financial situation, and recognize your liabilities. In many cases, the wealthy have used other people�s money to get to where they are. The judicious use of leverage can be a help. But you also have to get rid of liabilities when you can.

Pay off your obligations, especially if they are costing you a lot in terms of interest. Once you have more assets, look at how you can reorganize your finances so that you are putting more into assets, and getting rid of liabilities. Keeping those liabilities can put your resources at risk by threatening to drag you down.

5. Carefully Vet Investment �Opportunities�

One of the ways you can keep building your wealth is by investing it. Putting your money to work on your behalf can be a great way to protect your wealth. However, you do need to watch out for scams. Many of the newly-rich are targets for investment fraud because they have resources, and are interested in perhaps growing their wealth a little more.

In order to avoid losing your hard-won fortune, you need to make sure that carefully vet all opportunities that come your way. You don�t want to fall victim to scams. Remember that Bernie Madoff targeted mostly rich people. Many of the people who lost money were people who lost millions. Watch out for �investments� that seem to return a great deal like clockwork, or that promise you an amazing chance to get in on a �ground floor.� Before you put your money into something, you need to make sure that it really is a good investment.

6. Don�t Get Too Cocky

While you deserve credit for building your wealth and managing your financial resources, you also don�t want to get too cocky about your success. In many cases, success leads to feelings of invincibility. Many people who make money with investments are so sure of their genius that they take progressively bigger risks in order to make even more money.

They think that they will always pick winners � no matter how exotic or risky the investment is. This overconfidence can lead to taking ill-advised risks, and lead to huge losses that can mean the loss of your fortune.

What other ways can you protect your wealth once you earn it?

Three Financial Moves To Make Before Getting Married

Love can sometimes be blind, especially in the midst of an engagement and wedding planning. While I don�t think that love suddenly disappears after the honeymoon, like many would suggest, I do think the reality of finances can hit couples hard after they settle down. Here are three smart financial moves every couple should

consider before tying the knot.

Reduce debt
You might not think your credit card debt and car loan are that big of a deal. In fact, you can probably afford to part a certain part payment easily each month. But your budget might start looking too tight when you combine your debt repayments with your spouse�s debt repayments, and then add on a bunch of new costs.
It is important to know how much your combined debt will be when you get married. Both you and your loved one should disclose any debt or financial obligations. Once you know your combined total of debt, try to reduce it by 50 percent before the big day. This might mean taking more hours at work, doing side jobs, or getting a second job. It is much easier to do this drastic debt attack before marriage then afterwards.

Discuss your financial goals
Both you and your partner should spend time writing your goals on index cards and talking through them. Goals might look like this:
-Being debt free
-Going to school for a higher degree
-Staying at home with children in three years
-Take a vacation every year
-Buy a home in two years
Whatever your goals are for the next 5-10 years, you have to incorporate them into your budget. If you both agree to have children and the wife will stay home with them in three years, then you need to take the right steps in the beginning of your marriage. You should be living off of one income right away, while establishing a strong savings account.


Rethink your wedding costs
You might want to cut costs wherever possible if you are paying for your own wedding. Being saddled with some debt for one day of celebrating is a bit extreme. Pay for cash for your wedding whenever possible, and remember, the day is about you as a couple, not about making the wedding look like it belongs in a magazine.
What is the point in impressing your guests with a lavish wedding if you are stuck paying for it for 10 years afterwards?
Getting married is an exciting time for all couples. I strongly suggest taking time to discuss your finances, financial goals, and budget before walking down the aisle. It might not be sexy to talk investing and budgeting, but it will prevent a lot of issues later in your marriage.

10 Tips for Staying on Budget

You have a big expense coming up. You need a better car, or a bigger home, or you w�ant to go back to college. What do you do? Borrow, borrow, borrow -- right? Well, maybe not.
If you've created a budget, you know exactly how much money you have coming in, and how much is going out. You can make some plans concerning that big expense. But if you don't have a budget plan, you probably don't have a very good picture of your finances, and you may be tempted to borrow more money rather than squeezing all you can from your income. It's definitely better in the long run -- for you and for your money -- to have a budget.
Creating a budget can be a frustrating task. Staying on budget can be even harder. Once you've created your budget, it's important to stick to it.
It's easy to understand how careful budgeting can improve a financial situation. And we all know that fewer financial problems mean less stress. But here's one of the best benefits: Working together on a budget can help your marriage. With money arguments being one of the largest causes of divorce, managing your budget can relieve financial stress on your marriage and make your life better all around�.
But we know that always being practical, careful and responsible can be overwhelming. In this article, we'll explore 10 tips for staying on budget, without losing your sanity.
Read on to find ways to save money and prepare for a major purchase on a tight budget.

#1 Focus on Savings
By now, you've set up your budget. You know how much money� you have. But you� could still use some help staying on budget. Here are some tips that can help you stick to your budget and get ahead on that major purchase:
Determine the amount of your budget that you can afford to save each month. Have it direct-deposited to your savings account, or to your mutual fund. Wherever you decide to keep your savings, make sure you put money into it every month. That savings will make a big difference for you later.�

MAJOR PURCHASES
The most common major purchases are homes and vehicles. If you're buying a home, you'll probably be expected to make a down payment of 20 percent, or to take a second mortgage to cover the down payment. If you can make the down payment without a loan, you'll have a significantly lower payment each month. The same goes for vehicles. Creative and managed budgeting can help you make a larger down payment and have a much lower monthly payment for years to come.

#2 Use Cash
Take out enough cash to last one week at a time. Make up your mind that the cash you have is all you get for discretionary expenses, or things that you could live without, each week. It's much easier to turn down a $60 pair of shoes when it will take the last of your week's cash than it is when you just have to swipe a credit card.

#3 Cut Bad Habits

Wh�ether it's alcohol or tobacco, if you use much of either, you know how expensive bad habits can be. Stop smoking and drinking, and put the beer/cigarette money toward your other expenses. You'll see your bills come down -- and feel your health improve -- in no time. You'll also save on health care expenses down the road, and you may become eligible for lower insurance premiums.

#4 Share the Responsibility

Make sure you're not the only member of your household concerned about your budget. If you're working hard to save money, but your spouse is out spending you into debt, you're fighting a losing battle. Sit down together and make a plan to determine how much �spending money you should each have. Then, check in every week to see how well you're doing. If the entire family shares the responsibility for the budget, everyone can cut back just a little and make a big difference. One person shouldn't have to shoulder the entire burden alone.

#5 Pay Down Debt

If you have credit card debt, you may feel like it's going to take forever to pay it off. But you can get ahead by choosing one card -- ideally, the one with the highest interest rate -- and paying as much as you can on it every month. If you have other cards, pay the minimum balance on those until you've paid off the first card. Then, choose the next card and pay extra on it while you pay minimums on the others. If you pay only the minimums on all your cards, you'll be paying a lot more in interest than you may realize.

#6 Keep Your Receipts

You probably monitored your expenses for several weeks to make a budget. Once the budget is made, though, it can be tempting to stop keeping up with every little expense. But keeping track really can help you stick to your budget. Save yo�ur receipts, and write down the places you spend money. You'll be less likely to overspend if you realize how much money has actually gone through your hands.

#7 Balance Your Checkbook

Do you balance your checkbook regularly? If not, it's a good habit to start. If you're on a tight budget, a couple of small mistakes can lead to overdraft charges and insufficient funds in your account. If you balance up every time you get a bank statement, you �can make sure your ledger stays in the black.

#8 Analyze Your Spending

Look through your budget and all your receipts. Can you find an expense that can be cut? Maybe you could bring your lunch to work twice a week, or set up a carpool with a friend. Just c�utting out restaurant and gas costs can help increase the amount of money you have available for savings and purchases.

#9 Special Accounts

If you find that you keep reaching into your savings, set up a CD or other acc�ount with early withdrawal penalties. Banks and other institutions pay more interest if you'll agree to let them use your money for a longer amount of time. Putting your savings into a yearly CD will yield more than a three-month note would.

#10 Be Flexible

Remember that life is unpredictable, and things happen that are out of our control. When� you make a budget, try to allow some extra money for variable expenses. And, be gentle with yourself if you go over your budget sometimes. It can be hard to get back on track �if you let yourself get too frustrated over a mistake or two.
Follow�ing these tips can help you stick to your budget. You can prepare for a major purchase without having to borrow more than is absolutely necessary, and you can feel good about keeping your finances under control. Make sure you update your budget regularly, and prioritize your spending -- know what is important enough to be worth your hard-earned money. Budgeting will come more easily the longer you stay with it, and you will reap the rewards in years to come. Above all, remember that budgeting is worth the effort. Keeping on budget can make your entire life run more smoothly, since so many things are affected by your financial status.
For more information on budgets, saving money and related topics, see the links on the following page.

BALANCING YOUR CHECKBOOK
If you're one of the many who have no idea how to balance a checkbook, you may get a little nervous about learning how. But don't despair. There are many Web sites, which can help, or your bank officer will show you how. The first step is to make yourself list every check you write in your register. Or, to be sure you don't forget, you can get carbon copy checks.

East Central London (EC) has highest advertised salary at �44,459

It's perhaps no surprise that London postcodes are home to the highest-advertised salaries - but more so that some northern and Scottish areas do not lag far behind, research suggests.

The postcode area of London that is home to the Bank of England and insurance market Lloyd�s of London has the highest salaries, with an average advertised pay at �44,459, according to analysis of 200,000 job vacancies by jobs website Adzuna.

East Central London (EC), which is home to many City firms as well as many tech start-ups, also has way more opportunities than any other areas, even within London, with more than 37,000 vacancies advertised in February.

That�s four times more vacancies than the second top paying postcode - West Central London (WC), which includes Westminster - which had nearly 9,500 vacancies up for grabs and an average advertised salary of �43,646.

But while these London postcodes are the only two where annual advertised pay averages more than �40,000, there are some areas in the North and Scotland that offer some of the highest salaries in the UK.

Postcode DG, which includes the Scottish market town of Dumfries, was the third highest-paying postcode in the UK with salaries of �31,903 on average. 

This is because of some highly paid jobs advertised in postcode DG1 - like a tax supervisor, an anaesthesia consultant and a radiologist consultant - which mean that the actual average salary for this area was �48,000.

However, opportunities in this area were much fewer and apart, with a total of just 92 vacancies advertised in DG, Adzuna said.