Category Archives: Money

Why You Should Raid Your Child’s Piggy Bank Before October

Raiding your child’s piggy bank is not something that I would generally suggest although I am sure there are plenty of people who have suddenly found themselves short of cash or just some change that have needed to do it in the past!

But it might be important that you do it before the middle of October 2017!

The new one pound coin will have 12 sides.

The reason for this is the introduction of the new £1 coin that is happening on 28th March of this year. The new £1 coin will be completely different to the old round one as it will be 12 sided and not round for starters. There are many other aspects of the new pound coin that will be different from the old one in a bid to stop counterfeiters.

You will still be able to use the old £1 coin until 15th October 2017 but after that nobody is obliged to accept the coin. However you will be able to pay it in to most post office and bank accounts, even though you will likely not be able to spend it.

So it is probably a good idea to maybe empty out that piggy bank and either swap it for new coins when you get them, or maybe pay it in to a child’s savings account if they have one.

It will be easier to do this before the 15th October deadline as you (or they) will be able to spend it in shops along with the new one pound coin.

So on 15th October 2017 the old one pound coin will no longer be legal tender.

If you find a stash of £1 coins after the October deadline then take them to your bank.

If you are reading this and it is after the 15th October 2017 deadline and you have found a stash of the old £1 coins then take them into your bank and they should be able to credit them to your account.

No doubt there will be plenty of people finding £1 coins down the back of sofas and in clothes for quite a while to come!



Sum Up Discount Code

sumup_If you run a small business and want to take credit and debit card payments when you are out and about then you might be interested in one of the mobile card payment options that are available.

Sum Up is just one of the those that is available and below I have a discount code for you!

Personally I have been using Sum Up for around 2 years now and I find it really easy to use with only a 1.95% charge on transactions.  it enables me to take credit and debit card payments wherever I am with little fuss and the payments are sent over to my bank account within a few days.

All you need to use it is the terminal and a smartphone to connect to (and 3G/4G/wireless) and you can take payments from most cards including American Express.

This can be really useful if you are somewhere there isn’t a cashpoint nearby or even if you sell stuff that is at a price point where people may not have that much cash on them.

So anyway, if you are interested in taking a look at Sum Up then you an get a £20 discount on the price of the terminal if you follow the link below:

Sum Up Discount Code

Bona Vacantia – Unclaimed Estates in England

Bona Vacantia

Many people die intestate and leave assets that can be worth a lot of money. But if no relatives can be found then these assets can go to the Crown. A list of estates that remain unclaimed is held and is called the Bona Vacantia list.

Whenever someone dies in England, if they do not leave a will advising who they wish to leave their assets to, and if no-one comes forward to claim that inheritance within 12 years of their death, their entire estate goes to the Treasury – i.e. the UK Government gets it all.

Because the government say that they would rather have the money go to the rightful heirs than themselves, the government have set up a list which can be accessed by anyone online, which shows all of the names of the estates that they have registered where no-one can be found to claim the inheritance. That list is called the Bona Vacantia list which means ‘vacant goods’. Anyone can search through this list to see if any of their deceased relatives are on the list and liable to leave an estate that could be valuable.

Only certain people are allowed to claim against an estate and that is close relatives, further details are given below.

Who Can Claim a Bona Vacantia Estate?

Only certain relatives are able to claim against a Bona Vacantia Estate. The simple explanation is that the person must be a blood relative of the deceased and be one of the following:

  • Parent
  • Grandparents
  • Parents
  • Aunt (by blood not marriage)
  • Uncle (by blood not marriage)
  • Sister (including half-sister)
  • Brother (including half-brother)
  • Children
  • Cousins (only first cousins, i.e. the children of the deceased’s uncle or aunt)

Obviously it can get a bit more complex than this but this is the essential list of beneficiaries. If any of the beneficiaries have themselves died and left children then they will then become entitled to that share.

A diagram of the main relatives that can claim on a Bona Vacantia estate.
A diagram of the main relatives that can claim on a Bona Vacantia estate.

In order to claim an entitlement the beneficiaries must have evidence that they are who they say they are and that they are related to the deceased in the way they claim. This can be done by getting appropriate copies of birth, marriage and death certificates from the appropriate Registry Office.

Which Names Are Listed on Bona Vacantia?

You can find a full list of names of those who have died intestate (without a will) and for whom no relatives can be found, on the website in either the form of a list or by searching for a particular name or area where someone may have died. Obviously if the deceased has quite a common surname then it is going to be difficult to find relatives – for example, there are over 100 names on the list with the surname Jones so those are going to be more difficult to solve.

However, there are names on the list that are more distinctive and rare like the following:

Ignat Bladezki
James Anthony Blenkey
Frank Arthur Booton
Gertrude Maud Chitty
George William Flippance
Alan John Hankinson
Edward Lish
Edward Onions
Ellen Deborah Parker-Husband
Jean Albert Recordon
May Kathleen Sackett

These are just a small selection of names from the list, there are many more unusual and common surnames of people who were residents of England when they died. To find out the full list of names or to search through them you can check here.

The Importance of Having a Will

If you do not have a will and you die then there are strict criteria set out by law, as to who will get the value of your estate on your death. Obviously then, if those people are not the beneficiaries that you would actually want to receive all your worldly goods then you need to make sure that you have a will specifying your wishes.

A lot of people do not think about making a will until they feel like they are ‘getting old’! It is put off from year to year because we either do not want to think about it or just think it will not happen to us at any time soon.

However, it can be quite simple to make a will (as long as your affairs are not too complex). Although it is best to get a will drawn up by a solicitor, you can also get a kind of ‘readymade’ will where you just need to fill in the details. Once you have specified your wishes in this document and completed it according to the instructions, it is valid in England, Wales, Scotland and Northern Ireland.

With a will costing less than £20 there is really no need to put off completing one, even if this is a more simple version for the interim until you get a solicitor to draw up a more complex will. You can get legal forms to complete a will online – see the link on the left for one particular example.

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!