Over the past 6 years, British gilts have lost more than two-thirds of their purchasing power when stacked up against the yellow metal.

In my latest vlog for my Tuesday series of ‘Gold, Money and the Economy, I talk about gilts, what they are and how they work. Check out the video blog below….

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Portrait of Scrooge McDuck by ~jaggudada on deviantART

When learning new things, be it a language, a skill and/or a trade, it can sometimes prove difficult and at times very challenging.

For many learning about personal finance, the economy and money – how it works, and how to make it work harder for you, can be daunting and disingenuous due to our understanding of and interest in the subject(s); as well as our limiting beliefs with money and ultimately our relationship with it because of those beliefs.

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When most people think of Greece two things usually springs to mind – their sprawling ancient history and the numerous plays depicting the various misfortunes of life, know as tragedies. However, this is all changing now with current day tragedy of deficits, cuts and riots unfolding every day in Greece!

Since the credit crunch of 2008 Greece has been bailed out several times by the ECB and IMF, but this has not necessarily been to save Greece but to save the Euro and the shaky foundations on which the Eurozone is currently standing on.

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This is a great video as to why it is important to invest in your financial education and become financially savvy; as well as not to take everything you hear on mainstream news as gospel….

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to purchase gold?

Depending how you look at it some would say no and some would say yes! Here’s why….

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Isn’t time you started preserving your wealth?

There is saying which goes ‘Rich people have big libraries whilst poor people have a big televisions’. And this is directed at those in financial poverty but mindset poverty, as well!

There is also something else that the rich have but the poor do not, and that is strategies to not only grow their wealth but to preserve it.

In the last several decades the objective for the masses has been to pursue capital appreciation aka ‘getting rich’; which has been epitomised by the now ‘ailing’ property market – globally and nationally.  In contrary the art of wealth preservation and protecting one’s wealth has been forgotten and all but dismissed by the masses.

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Yesterday I was reading an online article about the UK property market and how it is set for the biggest slump in 50 years. Then this morning reading my daily dose of Money Week the key article happened to be on property – ‘Britain’s housing market is an unexploded economic bomb’, in which, according to Halifax, ‘Uk house prices saw their biggest fall in 18 months in April’.

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Some people keep up to date on celebrity news, sports news, entertainment news and general news; I in contrary keep an eye on the economic news. Why, because in order to become financially savvy one must understand what plain one is working on. As the saying goes forewarned is forearmed.

In the last several weeks the headlines that have popped out at me are as follows –

• Hard times ahead for 3 more years (Daily Mail – 27.01.2011)
• Economic outlook is bleak indeed. We can put through but only if our leaders have courage enough to tell us the truth (Daily Mail – 27.01.2011)
• A fifth of university leavers are out of work (Daily Mail – 27.012011) – see my post on students and jobs here.
• Debt crisis could tear up Europe, says Soros (Daily Mail – 27.01.2011)
• Property – the Achilles heel of the financial system  (Financial Times – 27.01.2011)
• Young fret over money woes (The New York Times – 31.01.2011)
• Sudden uprising in Egypt unsettles global markets (The New York Times – 31.01.2011)
• Age of the part-timer: 200,000 jobs were created last year. Only 3 per cent were full-time (The Daily Mail – 01.02.2011)

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Due to the current global economic crisis the subject of pensions and savings on a whole, have been in and out of the media on a consistent basis, and with the talks of inflation and whether the Bank of England is going to increase interest rates again and the consequences of that, the consensus is that the idea and structure of a pension and with it the signification of retirement is no longer viable in the 21^st Century.

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Earlier this month I attended my first event of 2011; it was Richard Anash’s of Wealth Guardian Education,1 day Money Wisdom Workshop. And I am really glad to say that it was, especially as the subject matter ‘financial education’ is something I strongly advocate and am very passionate about.

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