The investment management team at Legal and General are anticipating recession in the UK as early as this year.
The economic indicators the Legal and General people are looking at are highlighting an imminent recession. These indicators include the level of borrowing, reduced spending and the relative inability to access extra funds. In combination these factors are really making the British public take notice of the economy and consider their own positions.
Further driving the problem is the fact that the global economy is struggling, so it is not an isolated UK issue. Consumers in the UK are keeping a wary eye on the situation says Legal and General, which automatically means they are less free with their spending and tend to be much more conservative in their decisions.
Sainsburys Bank has determined that cost of a two day trip to Moscow to watch the UEFA Champions League final between Manchester United and Chelsea will cost each supporter an average of GBP624. This is without a flight, which would add greatly to the total.
Over GBP300 of this will be spent on the hotel room, with meals, transfers and sundry expenses taking up the rest. The total spend for adds up to around GBP40 million says Sainsburys Bank, which is a lot of money to put into Russian coffers.
Good advice from Sainsburys Bank is to shop around for the best rate on currency since it can make a real difference. They also recommend combining a good rate with good quality service to get the best overall package.
Research carried out by the Abbey National has shown that around 20 percent of UK consumers have all their finances dealt with by just one provider. They feel it is simpler this way.
On top of these people who have already gone to one supplier there is another 18 percent who are seriously thinking about it. Between these two groups that is almost 40 percent of people looking to make their finances easier to manage. Does this say something about the population as a whole or the finance companies themselves wonder Abbey National?
On average we have 3 different finance organisations we deal with, as well as three passwords and three PIN numbers. No wonder people want to simplify things. The Abbey National do not advocate using just one password or PIN number though since this has a detrimental effect in security.
