Category Archives: Finance & Insurance

How Much Do Golfers Earn?

It is no secret that top sports people, including golfers, can earn a lot of money. Not only do they earn money from taking part in (and hopefully winning) tournaments, but they also earn a lot of money from sponsorship deals, in fact these days they often earn more money from that than their actual sports earnings!

tiger-woodsBut regardless of sponsorship deals it can be interesting to look at money that golfers can earn from tournaments. In order to check on the top level of earnings that a golfer might be able to achieve, we have looked back on the earnings of Tiger Woods from when he turned professional.

Obviously looking at someone who was so successful will give a good idea of the maximum earnings a golfer can strive for not including sponsorships. But also in Woods’ case, you can see the effect of the bad years that he has had due to his personal situation and injuries.

Most tournaments that you take part in as a golfer offer prize money to all levels of participants – the bigger the tournament the higher the prize money of course.

Dropping just one extra shot in a tournament can lose you a large chuck of money so it is no wonder golfers need to be concentrating at all times and don’t like to have any distractions when playing.

So here are the annual tournament earnings of Tiger Woods from when he turned professional in 1996:

2015 – $448,598
2014 – $108,275
2013 – $8,553,439
2012 – $ 6,133,159
2011 – $ 660,238.00
2010 – $ 2,090,477.00
2009 – $ 9,434,813.00
2008 – $ 5,875,000.00
2007 – $ 12,217,052.00
2006 – $ 11,291,563.00
2005 – $ 10,870,522.00
2004 – $ 6,925,471.00
2003 – $ 7,373,413.00
2002 – $ 8,789,225.00
2001 – $ 6,846,108.00
2000 – $ 10,318,321.00
1999 – $ 6,816,584.00
1998 – $ 2,241,116.00
1997 – $ 2,376,831.00
1996 – $ 906,170.00

Looking at the annual earnings for other golfers it seems that the top golfer of the year earns around $8-12m depending on how many events they play and how dominant they are in those events.

For example in 2015 Jordan Speith was dominant with earnings of over $12 million, up with Tiger’s top earnings.

However, in 2014 Rory McIlroy was the top earning golfer but he actually ‘only’ earned over $8 million.


What Are the Chances of Winning the Lottery?

What are the chances of winning the lottery with 59 balls?

In October 2015 the national lottery in the UK increased the number of balls in the draw from 49 to 59, thus making it much harder to actually win the jackpot.

Previously, choosing 6 numbers from 49 would give you a 1 in 14 million chance of winning the lottery but now with the extra 10 numbers to pick your 6 numbers from, the chances have massively decreased to 1 in 45 million.

This increase in the number of balls and decrease in the chance of winning have been proven with the fact that the jackpot has continued to be an elusive prize that has not been won since the changes were made, contributing to a massive jackpot of £50 million + which could go on for a couple of weeks.

Tonight’s draw (6th January 2016) will be the 14th rollover jackpot – continuous rollovers since the new rules were introduced. This could trigger more people to buy tickets just because of the size of the jackpot which could then mean that more of the number combinations are covered.

The national lottery website says the following about the limit on the size of any rollover jackpot:

The jackpot can only stand at £50 million for two draws. If no one wins in the second draw, the full amount rolls down and is shared between the players in the next winning prize tier.

So it might be worth waiting to see if anyone wins the jackpot this time and if they don’t then there might be a great chance of winning more money with lower odds in the draw where the jackpot will be filtered down if no-one wins. This would be next Saturday 9th January 2016.

If no-one wins the jackpot on Saturday then the chances of winning with 5 numbers and the bonus ball are around 1 in 7.5 million which is almost twice the odds as winning the jackpot before the numbers were expanded to 59!

So if you want to know what are the chances of winning the lottery with 59 balls then I would say much better if you wait until the jackpot has to filter down!

Where is my January Tax Credit Payment?

If you are wondering what has happened to your January tax credit payment because you believe it was due on January 21st then you might need to go back and check your November payment date. The reason for expecting your payment on 21st January may be that you were paid in December on 24th December and 4 weeks from then is 21st January. However, the December payment may well have been paid early due to the Christmas holidays.

So, if your December payment was due on 25th December, it will have been paid on 24th December instead. So this would mean that your January payment would be due on 22nd January and not 21st. Likewise if your payment was due on 26th December then you won’t get paid until 23rd January.

Go back to your November statement to check when that was paid. If you were paid on 27th November then your January payment will be made on 22nd January. If you were paid on 28th November then your January payment will be made on 23rd January.

January is always a confusing month for working out tax credit payment dates due to the Christmas holidays, so try not to panic if you don’t see the money in your account when you think it should be there!

Natwest Credit Card Interest Rate

So I was trying to find out the other day what is the interest rate on my NatWest Credit Card? I searched high and low on the NatWest Bank website and couldn’t find this information anywhere. There were details about the current credit card that they are offering which is the Platinum card with interest rates starting at 6.9% (the interest rate will depend on personal circumstances), but there was no information about the interest rate on a standard Natwest Credit Card like the one I have held for over 25 years. Continue reading Natwest Credit Card Interest Rate

How Do I Find Out If a Company Has Gone into Administration?

So I recently had this problem where a company I was dealing with (and who had taken my money) stopped providing me with the service and seemed to disappear. They were not answering any of their phones and no-one could get hold of them. Chances are that they had gone belly up but how do I find out if they had gone bust?

My first search led me to check the UK Companies House register. They were indeed listed on here as a limited company (you can check here) but they were still registered as an active company. My next search advised me to phone Trading Standards so I googled for a phone number for the local branch of where the company was based. It came up with a general number for Citizens advice but apparently Trading Standards farm out their calls to them. They said that I would have to phone Companies House. So I called them and they said they had not been notified of the company going into administration and that they would only be notified or take action if the company failed to file any returns or else had lodged with the Insolvency service.

So next stop was to phone the Insolvency Service. I asked them again, what would happen if a company has gone bust but hasn’t notified anyone? They didn’t really have an answer. All anyone kept saying was that they would take action once the company notified them. Somehow I don’t think the first thing on the director’s list was to call the Insolvency Service… Anyway, they mentioned the Official Receiver as being the person who would investigate, so I googled them. They are pretty much part of the Insolvency service but what I did find there was a form to report people who are acting incorrectly. This answered my question really about companies who do not notify anyone that they have stopped trading. Other people can report them and hopefully the Official Receiver will investigate. You just need to fill out a form with all the details. You will need to get the Company Registration number from the Companies House website as well as the address, phone etc.

So if you think that a company has gone bust and you can’t find out any information about whether or not they have gone into administration then you can report them yourself. The place to report them is here and you can do it online or by post.

And don’t forget that if you paid by credit card then you may be entitled to get your money back from your credit card provider under Section 75 of the Consumer Credit Act.