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Metro
5 days ago
- Business
- Metro
Make money from your living room with these 7 investing tips for novices
Money is a major part of human life. We literally need it to survive, from paying bills to buying food, not to mention simple pleasures like holidays. Yet basic financial understanding is something a lot of people struggle with. A 2024 study by Freetrade, which quizzed 2,000 people, found 81% weren't confident in their financial literacy and 91% lacked confidence specifically around investing. Meanwhile the gender investment gap is growing, particually among Gen Z and millennials. The latest data suggests 41% of men aged 18-34 invest, compared to just 20% of women. Investing can increase individual net worth – it gives your money the chance to grow, and if done successfully, can generate passive income. Ladies, we're missing out on money! So, Metro spoke to Nisha Prakash, lecturer in Financial Management at the University of East London, to get some beginner insight. Specifically, simple hacks you need to master before taking the leap. First things first, Prakash says that before you start investing, you need to have a general idea of why you're doing it with clear financial goals. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video This could include buying an asset, for example a house or car, paying for wedding expenses, funding children's education, or, if you're thinking more long-term, retiring. 'This will set the timeline and target, which could help you choose the financial instruments based on the required risk-return,' explains Prakash. Investing – in it's most basic form – means buying something in the hope it will increase in value. So once you know what you're aiming for, you can start looking at options such as ISAs, or stocks and shares, with more clarity. On that note, don't dive headfirst into something you know little about, nor can afford. Prakash asks: 'How much volatility can you handle?' Meaning, can you afford to put all your eggs in one basket? Or, are you better off playing the long game? Aka, taking baby steps with your cash to lower the risk. Prakash notes that many don't realise that investing is a spectrum, and there a various ways you can grow your money. It's not just like what you see in the movies: men in suits shouting and screaming at stock market monitors. If you want it to be, investing can be stress-free. The expert says: 'There are many online questionnaires available to measure risk tolerance. Just because stocks give you a high return, it might not be ideal for everyone.' For some of us, Prakash states that fixed-rate ISAs work the best. These are low-risk savings accounts where you agree to lock your money away for a certain period. In exchange, you're guaranteed a tax-free interest rate. There are different lengths of fixed rates, typically ranging from one to five years. However, they often come with a clause: you cannot withdraw money or close the account during the fixed rate period without a penalty. But, because you're agreeing to leave your money for a set amount of time, you're usually rewarded with a higher interest rate. If you know you'll need to dip in and out of your savings pot during the fixed time, you're better off looking into an easy access ISA. Fixed-rate ISAs are commonly suited to people who have lump sums they want to invest and know they won't need to access them, which leads us to our next point. In contrast, what's important with these kinds of accounts, is that you can access them as soon as you need the money, explains Metro's Andy Webb. Here are four top-paying accounts that anyone can open. Bank: Cahoot Account Rate: Sunny Day Saver Rate: 5.00% AER variable for 1 year on balances up to £3,000 Account Rate: Sunny Day Saver Bank: Charter Savings Bank Account Rate: Easy Access Rate: 4.46% with unlimited penalty-free withdrawals with a minimum deposit of £1 Account Rate: Easy Access Bank: Skipton Building Society Account Rate: Quadruple Access Cash ISA Saver Rate: 4.00% tax-free/AER variable Account Rate: Quadruple Access Cash ISA Saver Bank: Yorkshire Building SocietyAccount Rate: Easy Access Saver Issue 3 Rate: 4.10% and allows unlimited penalty-free withdrawals This is so important, Prakash emphasises. While some experts say you need at least three months' worth of living expenses, Prakash says it's better to be on the safe side and go for six months. An emergency liquid fund is simple, she says. It protects you from having to sell assets if unexpected expenses arise. Or, if you lose your job or income. Ultimately, having a financial buffer takes the pressure off, as it means you don't have to dip into your savings you've worked so hard to invest. Prakash says it's vital people learn about the basics of investing. This includes financial instruments, risk vs. return, diversification, interest rates, and insurance, to name a few. The expert explains: 'Complicated products don't necessarily translate to better returns in the long term. The trick is to understand the business well before investing.' As Warren Buffett popularly said, 'Never invest in a business you cannot understand.' There are so many resources online to give you a better insight into investing. Platforms like Money Saving Expert have various beginner's guides, from educating on stocks and shares, pensions and investing, and investment funds. 'Having a budget and tracking your cash flow allows you to understand how much you can realistically invest each month,' says Prakash. While Prakash says there are apps that can help track budget and expenses, the 50/30/20 rule is also a great tried-and-tested method. This hack can help build your emergency fund, too. Essentially, the rule involves dividing your spending into three categories: needs, wants and savings. Then, with each paycheck, allocate 50% to needs, 30% for wants and 20% for savings or debt repayments. Knowing this exact amount each month allows you to invest that 20% without fear of not being able to afford it. Needs – 50% of total salary Needs include essential living costs such as rent or mortgage payments, bills, food and transport to and from work or the school run. Wants are non-essential costs, such as shopping, eating out, gym memberships, subscriptions, trips away and nights out. The final 20% of your savings should then go towards paying off debt beyond minimum payments or putting money into a savings account, investment, or pension fund. Source: HSBC Prakash recommends checking your credit report to 'understand the factors impacting your credit score,' if there are any. Should you have any errors on your report, for example, it shows an already closed loan, get it corrected. More Trending There are plenty of easy ways to check your credit report online. Experian allows you to check as many times as you want for free, without it affecting your score. Not only does this give you peace of mind, in terms of knowing whether or not lenders may reject you, but as you improve your score, you'll have access to better deals, including getting credit at lower rates. There's no shame in needing a bit of hand-holding at the start, says Prakash. If you'd rather have a little guidance before investing and making financial decisions in general, consulting a certified financial planner might be the way forward. 'They'll help you build a personalised plan' in terms of investing, and be able to explain any queries or worries you may have. View More » MORE: I'm a 40-year-old divorcee — this is exactly what I spend in a month MORE: Phone thieves stole £10,000 from my savings but the bank says it's my fault MORE: The £1 pension trick that could save you losing thousands
Metro
28-05-2025
- Business
- Metro
This is how much your salary should increase each year you work at a company
Money is an awkward topic, especially in the workplace. But while we're conditioned not to talk about it for fear of being rude, we're simultaneously encouraged to know our worth and confidently request pay rises. Unfortunately, many UK workers don't have a universal understanding of what a fair salary is, and are often oblivious to their potential earning range. This means that when demanding said wage increases, employees may not even know how much to ask for. Plus, with 53% of Brits unaware of what their colleagues make (especially those in higher positions), how is anyone meant to know what they should be earning, anyway? To set the record straight, Metro spoke to finance specialist Pernia Rogers, founder of Your Finance Travel Buddy, and Nisha Prakash, finance expert and lecturer in Finance Management at the University of East London. Word of warning: Pernia says that even if you've been at a company for years, loyalty doesn't always lead to bigger pay rises. Nisha also highlights that salary hikes and promotions depend on the industry. For instance, tech and finance sector jobs offer faster salary growth than public sector roles, which she estimates at around 2% to 4% per year. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 'Some companies offer inflation-adjusted hikes so that employees' standard of living is not impacted by rising costs,' she adds. 'In the UK, salary increases by tenure are not regulated by law but are influenced by industry standards, company policy, and individual performance,' explains Nisha. Having said that, there are broad industry averages which could help set realistic expectations. According to employment website Indeed, the average annual pay rise for an experienced employee is typically between 3% to 5%. 'Anything above 10% is generally considered a good hike, which is typically linked to promotions or job changes,' Nisha adds. In terms of your first year in employment, Pernia urges not to expect too much of a bump, as you're likely finding your feet within the company and getting to grips with your role. 'Raises tend to be small and usually reflect inflation or company performance,' she says, recalling that her first pay rise in a graduate scheme was 1.75%. The following year, Nisha says the hike will 'follow a bell curve based on the years of experience.' If you're expected to take on more responsibility, you should earn more, but this doesn't always happen, in which case Pernia recommends negotiation – 'especially if new hires are earning more.' As for the exact numbers, Nisha reveals that freshers are typically given 3% to 10% increases, while employees with two to five years of experience can expect 5% to 20%, depending on the job market and individual performance. At around three years, Pernia warns you risk being underpaid. 'Companies often give smaller annual increases than what you'd get by changing jobs,' she explains. 'Many people who switch jobs after two or three years see 15% to 25% increases compared to 2% to 5% raises internally. When I moved jobs at 3.5 years, I got a 64% pay rise.' To gauge if you've been bitten by the so-called 'loyalty penalty', Pernia says: 'With promotions or increased scope, your salary should be 15% to 30% higher than when you started.' If it's not, you might be falling behind the market rate. Next, benchmark your role externally and negotiate, or prepare to move. After five years, staying put only makes sense if you're rewarded. Although Nisha suggests that the increase rate lowers after five years of service – unless you're promoted or your role changes within the company – according to Pernia, you should be at least 30% up from what you started on, especially if you've climbed the ladder. 'If your salary hasn't kept pace with promotions, inflation, or market value, you may be losing out financially,' she says. However, as we know, it's not a one-size-fits-all box, and what's realistic varies depending on your career. While her most significant pay rise came when she gained her Chartered Accountant qualification, Pernia stresses that not every career path has jumps like that, so it's important measure against your field and market. Still, don't be afraid to negotiate for what you deserve or explore alternative roles if you don't feel valued. And remember, 'you're not obliged to accept any offer if it doesn't meet your expectations.' As above, there's not one clear answer. Promotion timeline depends on the industry, employer and worker's performance. But for scope, Nisha says a realistic expectation is to move from entry-level to mid-level within one to three years, adding: 'This is the fastest promotion phase, and it is typically tied to meeting timelines and learning core skills.' For mid-level to senior jumps, the timeline takes around two to five years., and 'the expectations here are performance, leadership traits and subject expertise.' Next up, the transition to management from a senior level takes three to seven years, with key criteria being networking, visibility and capability to create an impact. To get into a senior management roles (such as director) you're looking at five to over 10 years, progressing based on factors like creating long-term impact and business results. Again, this metric could vary across industries. 'For instance, promotions are much faster in startups compared to corporates,' Nisha says, adding that the 'general rule of thumb in corporate is that if you haven't been promoted within the first three years of starting work, despite strong performance, it is time to ask, negotiate or move on.' Just raising the question means management will be forced to provide you with a clear career path or development plan, so it's worth a go. Nisha says that achieving a promotion requires more than hard work. More Trending She explains: 'One has to consistently work smart, be visible and align with business needs. 'Hence, it is important to request a roadmap from your manager, including what skills, attitude, behaviour, and achievements are required for the next level.' To improve your chances she recommends 'making your manager's work easier' – but don't be afraid to blow your own trumpted or 'assume your work speaks for itself'. View More » Nisha's final words of wisdom? 'Don't wait forever — if you have been performing at the next level, have the conversation.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Map shows how much you need to earn to buy a home where you live in the UK MORE: Wear a uniform to work? You could be owed hundreds of pounds from the government MORE: Ignore the CEO influencers — not everybody's cut out to run a business
Daily Mail
26-05-2025
- Business
- Daily Mail
Big Brother is watching you: Growing number of Brits working from home being spied on by bosses to make sure they are not skiving
Staff who enjoy the freedom of working from home may soon find that Big Brother is watching. A growing number of companies are trialling a new method of ensuring staff stay glued to their desks - by keeping them on constant video calls all day. The system, known as 'body doubling', involves two or more employees working side-by-side over Zoom or Microsoft Teams, often without saying a word. The idea is that the virtual presence of a colleague makes workers less likely to slack off, gives bosses more oversight and may help reduce feelings of loneliness and isolation. Originally developed to help children with ADHD focus in school, the system has been repackaged by HR departments as a tool to boost productivity and reduce feelings of isolation in the age of remote working. But critics say the practice is intrusive and demeaning. One employee at a company that recently introduced body doubling told The Times: 'Sometimes it feels a bit much. I don't really want someone monitoring my every move. It can feel quite Big Brother-y being watched in your own home.' Despite the criticism, a study by the University of East London using virtual co-working platform Flown found it helped improve focus and productivity. Businesses are keen to get people back at their desks, believing it helps to boost productivity Alice Lang, a digital PR executive, uses body doubling twice a week and says it helps her stay on track. 'It's a good middle ground - I still get to work from home, but with a bit of company when I need it,' she said. Workplace consultant William Arruda warned the practice should remain voluntary, saying it could backfire for those who prefer working in peace. 'Some people thrive in silence and solitude,' he said. 'I do think it could feel a bit uncomfortable if it were something imposed by a company. It's nice having the flexibility to do it, or not, depending on how I'm feeling.' It comes as business leaders blame the rise of home working for Britain's sluggish economic recovery. Lord Rose, former chairman of Asda, warned it has 'set the economy back 20 years', claiming some people have forgotten how to do 'proper work'. Major firms such as Amazon, JP Morgan, Sports Direct and Boots have launched a drive to ensure head office staff now have to be in the office every day. Lloyds Banking Group has threatened to cut bonuses if workers fail to make an appearance at least twice a week. Just over a quarter of people (26 per cent) in the UK are hybrid-working, with 13 per cent fully remote and 41 per cent fully office-based. The trend began during the pandemic in 2020 when the Government ordered millions of workers to stay at home to reduce the risk of spreading Covid-19. As lockdown restrictions were eased, many workers enjoyed the flexibility being at home offered for childcare as well as saved time and money by not commuting. But this has put many workers on a collision course with bosses who now want them in the office more, with some even threatening or taking strike action.
Daily Mail
15-05-2025
- General
- Daily Mail
You think Antiques Roadshow guests get a shock? Harvard University discovers the Magna Carta 'copy' they bought at auction for £20 is an ORIGINAL - and worth £16MILLION
A 'copy' of the Magna Carta bought by Harvard University for £20 is actually an original worth £16million, scans have showed. More than 700 years after the iconic document was originally drafted, new analysis has found the handwriting and sizing of Harvard's $27.50 auction snap up are consistent with authentic records. It comes as up until now there were thought to have been just six original copies that remained of the ground-breaking charter. Drafted in 1215 by the Archbishop of Canterbury on behalf of King John, the Magna Carta was intended to make peace with rebel barons and is credited with laying the foundations of many constitutions across the world. The first version was annulled, though it was reissued in 1300 by Edward I, promising protection of church rights, limits on taxes and access to impartial justice. Almost 650 years later in 1946, Harvard University would go on to buy what they thought was an unofficial replica - for $27.50 (£20.73) at auction. It was described in the auction catalogue as a 'copy… made in 1327… somewhat rubbed and damp-stained'. King's College London and the University of East London have now undertaken new research that has found the handwriting, sizing and elongated letters are all consistent with the original. A similar original Magna Carta auctioned in 2007 sold for $21.3million. David Carpenter, professor of medieval history at King's College London, called the revelation a 'fantastic discovery'. He said: 'Harvard's Magna Carta deserves celebration, not as some mere copy, stained and faded, but as an original of one of the most significant documents in world constitutional history, a cornerstone of freedoms past, present and yet to be won.' The comments come as the four of the document's clauses, including a guarantee of due legal process, are still in law today. Professor Carpenter had been studying unofficial copies of the Magna Carta when he came across its digitised version on the Harvard Law School Library website. Realising it might be an original, he began to compare it to other originals to establish its authenticity. A fellow professor of medieval history, Nicholas Vincent, of the University of East Anglia, was called upon to help and it was not long before the pair were making some remarkable discoveries. Professor Carpenter and Professor Vincent realised the document's dimensions – 19.2in by 18.6in – were the same as the six previously known originals. The handwriting was also deemed identical - with the large capital 'E' at the start in 'Edwardus' and elongated letters in the first line. Images obtained by Harvard Law School librarians via ultraviolet light and spectral imaging went on to confirm the text matched up perfectly with that of the originals. Professor Vincent said: 'If you asked anybody what the most famous single document in the history of the world is, they would probably name Magna Carta. It is an icon both of the Western political tradition and of constitutional law.' The pair believe the document may be the lost Magna Carta issued to the former parliamentary borough of Appleby in Westmorland. It comes after the manuscript had been sent to auction in 1945 by Air Vice-Marshal Forster 'Sammy' Maynard, a First World War pilot who had inherited archives from Thomas and John Clarkson, leading campaigners against the slave trade. Clarkson retired to the Lake District in the early 1800s, where he became a friend of the poet William Wordsworth. The Magna Carta has gone on to form the basis of constitutions around the world and is considered a key step in the evolution of human rights against oppressive rulers.
Business Mayor
06-05-2025
- Health
- Business Mayor
This is what happens when someone dies on a cruise ship
Going on holiday is something everyone looks forward to, and few places are better equipped for having a good time than cruise ships. But as with everything in life, they must also be prepared for the worst. On Saturday, a passenger died on a cruise ship in British waters. The victim, 60, was on the MSC Virtuosa when it left Southampton on Saturday evening for a two-night cruise to Bruges, Belgium. An army medic administered CPR, but the man was pronounced dead at the scene, passenger Lynda Hardiman-Pearce said. A 57-year-old man has been arrested on suspicion of murder. Deaths like these are rare, but they're not unheard of. So what actually happens when someone dies at sea? Here's everything you need to know. Fuel your wanderlust with our curated newsletter of travel deals, guides and inspiration. Sign up here. When someone dies on a cruise ship, what happens next depends on many different factors, including where the vessel is and cruise liner policy. Cruise ships are required to have at least one medical professional on board, as well as an examination and intensive care room. The onboard doctor will pronounce a death after all medical efforts have been exhausted and the body has been examined. They will inform the people travelling with the passenger, or contact the passenger's next of kin if they were alone. Zoe Adjey, Senior Lecturer at the Institute of Tourism and Hospitality at the University of East London, tells Metro that cruise ships have procedures for all passenger health situations, including end-of-life. 'Staff members receive training to handle these sensitive situations compassionately, including providing emotional support for family members,' she explains. 'They're there to help the family or friends with whatever they need.' The death is then recorded in the ship's log and the flag state, meaning the country the ship is registered in. Dr Asimah, a registered GP working with travel insurance provider Staysure says: 'From a medical and procedural perspective, accurate records and death certificates are essential for local authorities, enabling the next steps.' If the death occurred in international waters, is being treated as suspicious, or a crime has been committed, local authorities have jurisdiction. According to the United Nations Convention on the Law of the Sea (UNCLOS), each country has jurisdiction within 12 nautical miles of its shores. You won't see it advertised, but most major liners are required to have a morgue. They are typically found on the lowest deck, and usually have space for three to six bodies. Additionally, some cruise ships will have a chapel or religious area where the last rites can be performed, according to the person's faith. The body will need to be stored until the ship docks at the next suitable port. Generally, cruise lines will ensure that a death onboard is handled as discreetly as possible. However, if you hear a crew member say the words 'Operation Bright Star,' it means there has been a medical emergency. If the phrase is 'Operation Rising Star,' it's code for a passenger death. Read More Chile Ends All Covid Border Measures Unfortunately, cruise lines do not cover the cost of a passenger's death. Therefore, it's vital to have travel insurance that covers all eventualities. Dr Asimah explains why a cruise travel insurance policy is important. The expert says: 'It can cover the complex and often costly process of repatriation, including coordination with local officials, consulates, and specialist airline providers to return the deceased to the UK with care and dignity.' According to the International Journal of Travel Medicine and Global Health, 623 reported deaths were reported at sea between 2000 and 2019. According to that research, 89% were passenger deaths, while 11% were crew deaths. The leading causes of passenger deaths were falls overboard or onto lower decks, cardiac incidents, and suicides. For crew deaths, these were suicide, murder and falls. Carnival Cruise Lines reported the most passenger deaths at 29%. This was followed by Royal Caribbean Cruises at 12%, and Norwegian Cruise Line at 10%. As for crew, the highest number of deaths was also on Carnival Cruise Line, at 19%, tying with Royal Caribbean Cruises. MORE: Thousands of train passengers stranded in Spain days after massive blackouts MORE: Map shows VE Day 2025 parade route through central London MORE: The common cruise ship passenger mistake that drives crew mad Fuel your wanderlust with our curated newsletter of travel deals, guides and inspiration. READ SOURCE
