WELCOME TO MONEYWISE
It’s time to overhaul your finances
SOME OF OUR WRITERS
GEORGE PITCHER The Reverend is the Archbishop of Canterbury’s secretary for public affairs
ESTHER RANTZEN Esther is a legendary consumer rights broadcaster, best known for fronting BBC’s That’s Life
JEFF PRESTRIDGE Jeff is personal finance editor of Financial Mail on Sunday.
BY JOHANNA GORNITZKI BY
t’s a new year, and with it comes time for reflection. Last year was hardly a good year for Britons. Inflation reached new peaks, increasing the price of everything from petrol and energy bills to goods and services. And there wasn’t much to offset these hikes as the majority of us, at best, received minor payrises or had our salaries frozen. But while we might feel rather melancholic as we reflect on the past 12 months, a new year also brings fresh opportunities.Yes, times will continue to remain challenging as we enter 2012, there is no doubt about that.The eurozone is in tatters, with the UK economy not far behind – unemployment is, for example, expected to rise and pay freezes likely to remain.
But even though the UK economy will remain in the doldrums, it doesn’t necessarily mean your finances have to.
Instead, take this as an opportunity to get your finances in the best shape possible – be that paying off debt, starting a savings habit or planning for your retirement – because making changes now could have a lasting impact on your future financial situation.To help you on your way, we’ve outlined how to detox your finances for 2012. Find out more on page 22.
This month also sees the launch of our new campaign, Defending the British Family.The squeezed middle are often overlooked but it is a shortsighted government that fails to sit up and take notice, as every pound taken out of families’ pockets mean a pound less going back into the economy in the form of consumer spending.
In this first part of the campaign, we take a look at the rising cost of childcare.Worryingly, a report by the Social Market Foundation reveals that middle-income families will end up paying 25% more for childcare in 2015 compared with 2006. Childcare is quickly becoming a luxury many parents can’t afford.We think it’s time the government, financial companies and employers address the issue – if not, more and more families will be pushed into poverty. firstname.lastname@example.org rcM technoloGY trust plc
MONEYWISE J A NUARY 2 0 1 2 GROUP PERSONAL FINANCE EDITOR Rachel Lacey EDITOR Johanna Gornitzki DEPUTY EDITOR Ruth Jackson SENIOR STAFF WRITER Nathalie Bonney STAFF WRITER Rebecca Rutt CONTRIBUTORS Sam Barrett, Lucian Camp, Faith Glasgow, Rob Griffin, Sally Hamilton, Jenny Little, George Pitcher, Andrew Pitts, Jeff Prestridge, Esther Rantzen, Cherry Reynard, Christine Toner, Matthew Wall ART DIRECTOR Mark Stammers PRODUCTION EDITOR Laura Staples SUB EDITOR Sacha Farnham CHIEF EXECUTIVE Tomas Carruthers PUBLISHING DIRECTOR Jeremy King ASSOCIATE PUBLISHER Kay Fox Joyce MARKETING MANAGER Alexandra Kyriakidis ADVERTISING MANAGER Chris Sorrell Moneywise Magazine First Floor, Standon House, 21 Mansell Street, London, E1 8AA 020 7680 3600 (phone) 020 7702 0710 (fax) moneywise.co.uk email@example.com SUBSCRIPTIONS HOTLINE 01795 414 934 Annual subscription UK £47 Write to: Moneywise Customer Services PO Box 326, Sittingbourne, ME9 8FA or subscribe online at moneywise.co.uk
Member of the Audit Bureau of Circulation. Average monthly circulation January – December 2010: 19,020 Newsagent distribution by Seymour Distribution Ltd 2 East Poultry Avenue London EC1A 9PT 020 7429 4000 seymour.co.uk Moneywise Publishing Ltd © 2012 An Interactive Investor plc company Registration number: 50347300
i-nvestment. RCM Technology Trust. www.rcmtechnologytrust.co.uk 0800 389 4696
Past performance is no guarantee of future performance. The price of shares and the income from them can fall as well as rise and you may not get back the money originally invested. Issued in the UK by RCM (UK) Ltd., which is authorised and regulated by the Financial Services Authority. Registered office: 155 Bishopsgate, London EC2M 3AD. Registered in England No. 2014586.