Church fundraisers have been around for ages and are known for being community and family get togethers. At one time they were called garden parties and were held during the summer months. At the church fundraisers, there were games of fun for the children, food to buy and crafts for sale. There was usually a supper and a dance to celebrate the success of the fundraising event.
Schools and churches have band fundraisers because the purchase of band equipment is very expensive. Even if you want to purchase used band equipment, church fundraisers will be able to come up with the funds needed for different instruments. At an event where churches or schools need to raise money for the band, the patrons are almost always treated to a concert.
Church fundraisers often consist of adult concerts where the adults of the community show off their talents and show how they can act silly and childish. In small communities, when a concert is a successful band fundraiser, people from another community often invite the performers to put off the concert in another town to help them with their fundraising.
A common church fundraiser is a hymn sing held in the church. With this type of event, people make a donation to have their favorite hymn sung by the congregation or the choir in memory of a loved one. This also helps as a band fundraiser because the people see where the band needs new equipment just by listening to them play.
Bands perform on a regular basis in parades and town festivities. In order to do well in competitions they need to have the best of equipment and therefore band fundraisers help to provide the much needed funds, not only for equipment but often for travel. Church fundraisers help local bands in many ways because they often give donations to various bands. The next time there is a church fundraiser in your town, you might be surprised at the amount of fun you have when you attend.
Church fundraisers can be a lot of fun.
Monday, November 29, 2010
Sunday, November 28, 2010
Choosing the Right Forex Software For You
You might be looking for a charting platform, or a trading platform. You could also be looking for an automated trading program, or a signal service. You are most probably looking for some form of assistance to help with your trading. This is really the holy grail for a lot of traders who do not have the time or the inclination to sit in front of a computer 16 hours a day. I have done that for a couple of years and done my 'chart-time', now its time to let the computer take care of it for me.
The best charting and trading platform is MT4, this allows you to also create custom indicators and expert advisors allowing you to auto-trade your account. Some people have created truly excellent Expert Advisors, and its like having your own forex trading guru sat at your computer 24/6, never getting tired, grumpy, hungry or anything else for that matter.
Provide a stable internet connection and power, and the EA will handle everything else for you. The problem is selecting the correct one, as there are so many out there.
Some criteria you should apply, when judging an EA are;
- Whether they will give you a free trial
- Their FORWARD tested history as well as their backtested history
- What modelling quality their backtests are run on (90% is the best available)
- Whether they offer a money back guarantee should the EA fail to perform for you
Markets change, and so do the performances of EA's. The goal is really to find one that can perform consistently over different market conditions. The best we have seen yet in the market is the PointBreak EA. This was used by a private trading group by over a year before being recently released to the public.
PointBreak Expert Advisor (Very Aggressive Trading) has resulted 49.76% since October 2007.
This is the most aggressive setting available, the more conservative settings give smaller returns but correspondingly smaller drawdowns.
The best charting and trading platform is MT4, this allows you to also create custom indicators and expert advisors allowing you to auto-trade your account. Some people have created truly excellent Expert Advisors, and its like having your own forex trading guru sat at your computer 24/6, never getting tired, grumpy, hungry or anything else for that matter.
Provide a stable internet connection and power, and the EA will handle everything else for you. The problem is selecting the correct one, as there are so many out there.
Some criteria you should apply, when judging an EA are;
- Whether they will give you a free trial
- Their FORWARD tested history as well as their backtested history
- What modelling quality their backtests are run on (90% is the best available)
- Whether they offer a money back guarantee should the EA fail to perform for you
Markets change, and so do the performances of EA's. The goal is really to find one that can perform consistently over different market conditions. The best we have seen yet in the market is the PointBreak EA. This was used by a private trading group by over a year before being recently released to the public.
PointBreak Expert Advisor (Very Aggressive Trading) has resulted 49.76% since October 2007.
This is the most aggressive setting available, the more conservative settings give smaller returns but correspondingly smaller drawdowns.
Saturday, November 27, 2010
Choosing A Mover For The Smoothest Move
You’ve landed that new job in another city, you’re retiring out-of-state, your family’s growing and it’s time to upgrade. All these are great signs that life is going well. Keep it going well by choosing the right mover to get you where you’re going.
Tips on choosing a mover
-- Choose the kind of mover you need, such as a relocation service, interstate moving company, local mover, pack-and-stack service, household shipper or trucking service.
-- Ask your friends or neighbors who have moved recently for recommendations. A word-of-mouth referral is the best way to be assured the movers will do a good job.
-- Ask prospective movers for references, and call them to see how satisfied their customers are.
-- Get written estimates from at least three movers before deciding.
-- To minimize the hourly charges for a short move, try to do as much of the work yourself as possible.
-- Consider whether or not you would like the mover to pack and what other additional services you may require.
-- Know the difference between binding and non-binding estimates. With a binding estimate you know in advance what your move will cost. However, it also means you can't add anything extra that you might have left off during the estimate. With a more open-ended non-binding estimate, there is no limit on what you can ship. Final charges could be higher or lower than the estimated cost, depending on the actual weight of the shipment.
-- Inform the mover of any possible unusual situations, such as access or parking problems, on either end so your estimate can be more accurate. If the mover does not know about possible problems in advance, additional charges will likely apply.
-- Verify that the mover is licensed and regulated. You can inquire from state agencies that regulate transportation services, or look in the phone book under a Public Utility Commission (PUC) or Department of Transportation (DOT).
-- Spend some time talking with each moving company. If they take the time to understand your moving needs, it’s a good sign that they will provide excellent service. If the company representatives aren’t friendly and helpful, call someone else.
Things to avoid in choosing a mover
-- Do not accept estimates over the phone. Moving is a complicated business with many variables, and it’s impossible to give an accurate quote without seeing the property and the items to move.
-- Do not take everything with you to get rid of at the other end. This will add costs to your move that are avoidable. It’s recommended to dispose of unwanted items before you move so you don’t have to find room for them later.
-- If you are looking for movers on the Internet, make sure you do not use a broker. Once a broker has your business, he sells the job to the highest bidder and is no longer responsible to you. With a broker, you’ll never know who is going to show up on moving day and they will usually charge you more than the broker led you to expect.
-- Don’t let a moving company bait you with low hourly rates. You’re paying for your belongings to be shipped professionally, not for the cheapest option. Remember—you get what you pay for.
Questions to ask potential movers
Be sure you get the answers to these questions before you choose your mover.
• Are there extra charges if the movers have to go up an extra flight of stairs even if I did not know about it when booking?
• What is the estimated delivery time and how will the driver notify me?
• If I pack myself what type of packing material is acceptable?
• How and when do I pay? Cash, credit card, check personal or certified?
• Will the movers disassemble everything and will they reassemble all items at the destination?
• Following the initial weigh in, will there be an additional weigh in to determine actual cost?
• If I have purchased liability insurance and I need to make a claim, what is the process?
• How long has your company been in business? How much experience do your packers and drivers have? Do you offer storage and, if necessary, are you licensed for interstate transport?
Be assertive when asking questions. You have the right to be confident about your choice in movers.
Important documents for your move
Be sure these documents are provided by the mover before your move.
-- A certificate of insurance showing all required insurance liabilities.
-- A written estimate.
-- Proof of workers compensation coverage, which will protect you from liability in the event someone is hurt.
-- A bill of lading—the legal contract between you and the mover that defines the services the carrier agrees to provide.
-- An inventory of your items. The driver will present the inventory to you for your signature after the van is loaded and again when the shipment reaches your new home.
Moving can be a stressful time, but remember, many millions of people have moved before you. Take advantage of the wisdom gained by following these steps to have the smoothest move possible.
Tips on choosing a mover
-- Choose the kind of mover you need, such as a relocation service, interstate moving company, local mover, pack-and-stack service, household shipper or trucking service.
-- Ask your friends or neighbors who have moved recently for recommendations. A word-of-mouth referral is the best way to be assured the movers will do a good job.
-- Ask prospective movers for references, and call them to see how satisfied their customers are.
-- Get written estimates from at least three movers before deciding.
-- To minimize the hourly charges for a short move, try to do as much of the work yourself as possible.
-- Consider whether or not you would like the mover to pack and what other additional services you may require.
-- Know the difference between binding and non-binding estimates. With a binding estimate you know in advance what your move will cost. However, it also means you can't add anything extra that you might have left off during the estimate. With a more open-ended non-binding estimate, there is no limit on what you can ship. Final charges could be higher or lower than the estimated cost, depending on the actual weight of the shipment.
-- Inform the mover of any possible unusual situations, such as access or parking problems, on either end so your estimate can be more accurate. If the mover does not know about possible problems in advance, additional charges will likely apply.
-- Verify that the mover is licensed and regulated. You can inquire from state agencies that regulate transportation services, or look in the phone book under a Public Utility Commission (PUC) or Department of Transportation (DOT).
-- Spend some time talking with each moving company. If they take the time to understand your moving needs, it’s a good sign that they will provide excellent service. If the company representatives aren’t friendly and helpful, call someone else.
Things to avoid in choosing a mover
-- Do not accept estimates over the phone. Moving is a complicated business with many variables, and it’s impossible to give an accurate quote without seeing the property and the items to move.
-- Do not take everything with you to get rid of at the other end. This will add costs to your move that are avoidable. It’s recommended to dispose of unwanted items before you move so you don’t have to find room for them later.
-- If you are looking for movers on the Internet, make sure you do not use a broker. Once a broker has your business, he sells the job to the highest bidder and is no longer responsible to you. With a broker, you’ll never know who is going to show up on moving day and they will usually charge you more than the broker led you to expect.
-- Don’t let a moving company bait you with low hourly rates. You’re paying for your belongings to be shipped professionally, not for the cheapest option. Remember—you get what you pay for.
Questions to ask potential movers
Be sure you get the answers to these questions before you choose your mover.
• Are there extra charges if the movers have to go up an extra flight of stairs even if I did not know about it when booking?
• What is the estimated delivery time and how will the driver notify me?
• If I pack myself what type of packing material is acceptable?
• How and when do I pay? Cash, credit card, check personal or certified?
• Will the movers disassemble everything and will they reassemble all items at the destination?
• Following the initial weigh in, will there be an additional weigh in to determine actual cost?
• If I have purchased liability insurance and I need to make a claim, what is the process?
• How long has your company been in business? How much experience do your packers and drivers have? Do you offer storage and, if necessary, are you licensed for interstate transport?
Be assertive when asking questions. You have the right to be confident about your choice in movers.
Important documents for your move
Be sure these documents are provided by the mover before your move.
-- A certificate of insurance showing all required insurance liabilities.
-- A written estimate.
-- Proof of workers compensation coverage, which will protect you from liability in the event someone is hurt.
-- A bill of lading—the legal contract between you and the mover that defines the services the carrier agrees to provide.
-- An inventory of your items. The driver will present the inventory to you for your signature after the van is loaded and again when the shipment reaches your new home.
Moving can be a stressful time, but remember, many millions of people have moved before you. Take advantage of the wisdom gained by following these steps to have the smoothest move possible.
Friday, November 26, 2010
Choosing A High Interest Savings Account
It's always prudent to save for a rainy day, and many people with spare cash available prefer the security of placing it in a savings account to the more risky but potentially more profitable choice of other investments such as the stockmarket. Choosing a savings account would at first glance seem to be as simple as going for the one with the highest interest rate, but there are several other factors to take into account too.
The first choice to make is between opening an account with a high street bank, or going direct. High street banks give you the advantage of being able to manage your account with face to face contact with real people, and the ability to deposit cash and cheques easily. However, they have not historically offered the most competitive rates of interest, although this is changing slowly.
Direct savings accounts are operated solely online, by telephone, and by post with no possibility of visiting a bank branch to conduct business. This means they are cheaper to run for the banks, with less admin and staff costs, and so in turn they are willing to offer more attractive interest rates. Indeed, when internet direct savings accounts first appeared, some of them offered ten times the interest of a typical branch-based account, although the gap has narrowed considerably over the years.
The next choice to make is which type of savings account to go for. Amongst all the other options and features available, there are two basic kinds of account: regular savings, and deposit savings. With a regular saver account, you commit to depositing a fixed amount every month for a certain period, often a year. Most accounts will let you pay in more than this if you are able to, but if you fall below the minimum amount in a month you will likely forfeit interest payments for that month. With a deposit account there are no such restrictions - you can put in as much or as little as you want, whenever you want. On the whole, a regular saver account will offer better interest rates at the price of less flexibility.
Another factor that will affect the rate of interest you can earn is the level of access to your money you need. Basically, you can either choose a fully flexible acount which lets you deposit and withdraw funds whenever you want with no charges or penalty, or a more restricted access account which might require 30, 60, or 90 days notice before withdrawals can be made without incurring an interest penalty. Some accounts go further, locking your money in for a period of years, but these accounts are more like bonds than savings accounts, and are outside the scope of this article.
In general, you pay a price for flexibility, and so accounts with more access restrictions will pay a better rate, and so are perhaps more suited to long term investments than simply serving as a way of earning interest on spare cash that might still be needed at some point.
The other main aspect to consider is how the interest is paid. Most accounts will pay your interest in one instalment, once each year. Some, however, will credit your interest on a monthly basis, opening up the possibility of earning compound interest (i.e. where you earn interest on your previously earned interest). Nothing in the financial world is free though, so once again the flexibility of more frequent interest payments will be paid for with a lower rate.
As we have seen, there is more to choosing a savings account than simply comparing basic interest rates. Of course, you want to earn as much interest as possible, but locking yourself into an unsuitable account might not be the best use of your money.
The first choice to make is between opening an account with a high street bank, or going direct. High street banks give you the advantage of being able to manage your account with face to face contact with real people, and the ability to deposit cash and cheques easily. However, they have not historically offered the most competitive rates of interest, although this is changing slowly.
Direct savings accounts are operated solely online, by telephone, and by post with no possibility of visiting a bank branch to conduct business. This means they are cheaper to run for the banks, with less admin and staff costs, and so in turn they are willing to offer more attractive interest rates. Indeed, when internet direct savings accounts first appeared, some of them offered ten times the interest of a typical branch-based account, although the gap has narrowed considerably over the years.
The next choice to make is which type of savings account to go for. Amongst all the other options and features available, there are two basic kinds of account: regular savings, and deposit savings. With a regular saver account, you commit to depositing a fixed amount every month for a certain period, often a year. Most accounts will let you pay in more than this if you are able to, but if you fall below the minimum amount in a month you will likely forfeit interest payments for that month. With a deposit account there are no such restrictions - you can put in as much or as little as you want, whenever you want. On the whole, a regular saver account will offer better interest rates at the price of less flexibility.
Another factor that will affect the rate of interest you can earn is the level of access to your money you need. Basically, you can either choose a fully flexible acount which lets you deposit and withdraw funds whenever you want with no charges or penalty, or a more restricted access account which might require 30, 60, or 90 days notice before withdrawals can be made without incurring an interest penalty. Some accounts go further, locking your money in for a period of years, but these accounts are more like bonds than savings accounts, and are outside the scope of this article.
In general, you pay a price for flexibility, and so accounts with more access restrictions will pay a better rate, and so are perhaps more suited to long term investments than simply serving as a way of earning interest on spare cash that might still be needed at some point.
The other main aspect to consider is how the interest is paid. Most accounts will pay your interest in one instalment, once each year. Some, however, will credit your interest on a monthly basis, opening up the possibility of earning compound interest (i.e. where you earn interest on your previously earned interest). Nothing in the financial world is free though, so once again the flexibility of more frequent interest payments will be paid for with a lower rate.
As we have seen, there is more to choosing a savings account than simply comparing basic interest rates. Of course, you want to earn as much interest as possible, but locking yourself into an unsuitable account might not be the best use of your money.
Thursday, November 25, 2010
Chinese Games: Games with Chinese Origins
The Chinese culture has a significant influence on the American gambling industry. Many of todays popular casino games were introduced to American casinos by Chinese immigrants. In this review, you can read about some of the most popular Chinese gambling games that had a successful immigration to the West.
Pai Gow Poker
Pai Gow Poker is a hybrid of American poker and traditional Chinese tiles game called Pai Gow. The original tile game Pai Gow, which means Make 9, is one of the most ancient gambling games that are still available in cotemporary casinos. Pai Gow Poker is played with playing cards instead of tiles and it uses the traditional poker hand ranking. It is one of the most popular casino games worldwide and it can be found in almost every major casino in the US. Its online version can be played at most casinos on the internet.
The object of the Pai Gow Poker is to form the highest possible two poker hands, one five card hand and a two card hand, out of the seven cards dealt to each player. Each player competes against the banker that can be either the casino dealer or one of the players who can afford paying the players winnings.
Sic Bo
Sic Bo is yet another popular casino game with roots that go back to ancient China. The chance game came to the States around the beginning of the 20th century by Chinese immigrants. It can be played in most land based casinos in Macau, the US and the UK. Sic Bo has an online version as well.
The meaning of Sic Bo is Dice Pair. It is played with three standard dice on a special table. Each player places any number of bets on the table and then tosses the dice. The outcome is determined by the combinations of the three dice. Each combination has a different payoff according to a payoff schedule, which vary from one casino to the other.
Fan Tan
Fan Tan used to be the most popular gambling game among Chinese gamblers but the glory days of Fan Tan have already passed. During the 1890s, Chinese immigrants brought the game to the United States. At that time, every Chinatown in American City had several Fan Tan houses that were always full of enthusiastic gamblers. Nowadays, you can find Fan Tan in some casinos in Macau as well as in some online gaming sites.
Traditional Fan Tan, not to be confused with the card game of the same name, used to be played with any objects such as coins, dried beans or small buttons on a table with a square marked on it. Fan Tan. The object of the game is pretty simple and odds are 1: 4.
The play begins with the banker puts on the table a pile of objects then covers them with a bowl. Each player has to bet on one of the numbers that mark the four sides of the square, or on one of the corners of the square. After the bowl is removed, the croupier removes four of the objects each time until the last group remains. If 1 object is left, then the player who placed a bet on 1 wins the pot, and so on.
Mahjong
Mahjong is probably the biggest inherit of Chinese culture to the gaming world. The ancient Chinese tile game has many variants worldwide including variety of online games. According to the myth, Mahjong was developed by Confucius around the 500 BC. The game was brought to the United States during the 1920s and soon was very popular especially among women. The game was played in Chinese style decorated rooms with waiters wearing traditional customs.
The American version of Mahjong was developed during the 1930s and it is played in America until today. At the same time, the National Mahjong league was founded. In addition to American Mahjong, there are Japanese, Vietnamese, Cantonese and other variations of the game, which vary from one to the other by their scoring structure, number of tiles and rules variants. In 1998, the China State Sports Commission had set a standard set of rules that will differentiate the illegal gambling game from the skill game.
Mahjong Solitaire, the online version of Mahjong, gains wide popularity recently. The online version of the classic Chinese game is a matching game that uses the Mahjong tiles. Online Mahjong games can be found in many online gaming sites in variety of layouts and versions.
Pai Gow Poker
Pai Gow Poker is a hybrid of American poker and traditional Chinese tiles game called Pai Gow. The original tile game Pai Gow, which means Make 9, is one of the most ancient gambling games that are still available in cotemporary casinos. Pai Gow Poker is played with playing cards instead of tiles and it uses the traditional poker hand ranking. It is one of the most popular casino games worldwide and it can be found in almost every major casino in the US. Its online version can be played at most casinos on the internet.
The object of the Pai Gow Poker is to form the highest possible two poker hands, one five card hand and a two card hand, out of the seven cards dealt to each player. Each player competes against the banker that can be either the casino dealer or one of the players who can afford paying the players winnings.
Sic Bo
Sic Bo is yet another popular casino game with roots that go back to ancient China. The chance game came to the States around the beginning of the 20th century by Chinese immigrants. It can be played in most land based casinos in Macau, the US and the UK. Sic Bo has an online version as well.
The meaning of Sic Bo is Dice Pair. It is played with three standard dice on a special table. Each player places any number of bets on the table and then tosses the dice. The outcome is determined by the combinations of the three dice. Each combination has a different payoff according to a payoff schedule, which vary from one casino to the other.
Fan Tan
Fan Tan used to be the most popular gambling game among Chinese gamblers but the glory days of Fan Tan have already passed. During the 1890s, Chinese immigrants brought the game to the United States. At that time, every Chinatown in American City had several Fan Tan houses that were always full of enthusiastic gamblers. Nowadays, you can find Fan Tan in some casinos in Macau as well as in some online gaming sites.
Traditional Fan Tan, not to be confused with the card game of the same name, used to be played with any objects such as coins, dried beans or small buttons on a table with a square marked on it. Fan Tan. The object of the game is pretty simple and odds are 1: 4.
The play begins with the banker puts on the table a pile of objects then covers them with a bowl. Each player has to bet on one of the numbers that mark the four sides of the square, or on one of the corners of the square. After the bowl is removed, the croupier removes four of the objects each time until the last group remains. If 1 object is left, then the player who placed a bet on 1 wins the pot, and so on.
Mahjong
Mahjong is probably the biggest inherit of Chinese culture to the gaming world. The ancient Chinese tile game has many variants worldwide including variety of online games. According to the myth, Mahjong was developed by Confucius around the 500 BC. The game was brought to the United States during the 1920s and soon was very popular especially among women. The game was played in Chinese style decorated rooms with waiters wearing traditional customs.
The American version of Mahjong was developed during the 1930s and it is played in America until today. At the same time, the National Mahjong league was founded. In addition to American Mahjong, there are Japanese, Vietnamese, Cantonese and other variations of the game, which vary from one to the other by their scoring structure, number of tiles and rules variants. In 1998, the China State Sports Commission had set a standard set of rules that will differentiate the illegal gambling game from the skill game.
Mahjong Solitaire, the online version of Mahjong, gains wide popularity recently. The online version of the classic Chinese game is a matching game that uses the Mahjong tiles. Online Mahjong games can be found in many online gaming sites in variety of layouts and versions.
Wednesday, November 24, 2010
Children's Bank Accounts - Planning Your Family's Future
Everybody wants to give their children the best possible start in life, and make their future as secure as possible. Two ways of helping them, money-wise, are by encouraging them to save with their own bank account, and by making investments on their behalf.
Children’s Accounts
Most high street banks offer children’s accounts, usually a straightforward bank account with a moderate interest rate. These often come with incentives like free piggy banks that are intended to help children develop a sense of responsibility and prudence about money from an early age. You may like to give your child a financial education by opening them their ‘own’ account – though there’s nothing to stop you using a normal adult account with better rates of interest.
National Savings
The Children’s Bonus Bonds are a tax-free savings account specifically aimed at children. You can invest between £25 and £3000 a year for five years and get guaranteed interest, plus a bonus. Many people choose to give Premium Bonds as gifts for children’s birthdays. If they win, it could give them the best present ever!
Child Trust Bonds
The government have introduced a special scheme to give children a savings account from the very beginning. Any child born after 1st September 2002 is entitled to a voucher worth £250 to be invested in a savings account. Visit www.childtrustfund.gov.uk for details.
It’s a good idea to invest for your children’s’ education as early as possible – whether that means private school fees or supporting them when they go into higher education. Long term investments, such as bonds with a ten year term, are a good choice for this purpose.
Children are taxed in the same way as adults, and have their own personal tax allowances. If you give money or assets to your own child and it produces an income of £100 or over, the income is counted as yours and taxed at your top rate. You can avoid this rule by choosing investments with tax free returns or capital gains, rather than income.
If people other than parents give gifts then the income counts as the child’s own, and in this case it’s a good idea to ask grandparents or relatives to send a letter or card with any money gifts. That way you have proof of whom the money came from in case the tax office demands it. For a detailed explanation of children’s tax issues, look up the Inland Revenue’s website at www.hmrc.gov.uk
Children’s Accounts
Most high street banks offer children’s accounts, usually a straightforward bank account with a moderate interest rate. These often come with incentives like free piggy banks that are intended to help children develop a sense of responsibility and prudence about money from an early age. You may like to give your child a financial education by opening them their ‘own’ account – though there’s nothing to stop you using a normal adult account with better rates of interest.
National Savings
The Children’s Bonus Bonds are a tax-free savings account specifically aimed at children. You can invest between £25 and £3000 a year for five years and get guaranteed interest, plus a bonus. Many people choose to give Premium Bonds as gifts for children’s birthdays. If they win, it could give them the best present ever!
Child Trust Bonds
The government have introduced a special scheme to give children a savings account from the very beginning. Any child born after 1st September 2002 is entitled to a voucher worth £250 to be invested in a savings account. Visit www.childtrustfund.gov.uk for details.
It’s a good idea to invest for your children’s’ education as early as possible – whether that means private school fees or supporting them when they go into higher education. Long term investments, such as bonds with a ten year term, are a good choice for this purpose.
Children are taxed in the same way as adults, and have their own personal tax allowances. If you give money or assets to your own child and it produces an income of £100 or over, the income is counted as yours and taxed at your top rate. You can avoid this rule by choosing investments with tax free returns or capital gains, rather than income.
If people other than parents give gifts then the income counts as the child’s own, and in this case it’s a good idea to ask grandparents or relatives to send a letter or card with any money gifts. That way you have proof of whom the money came from in case the tax office demands it. For a detailed explanation of children’s tax issues, look up the Inland Revenue’s website at www.hmrc.gov.uk
Tuesday, November 23, 2010
Child Trust Funds – Take a Long Term View
Andrew Hagger Head of News and Press at Moneyfacts.co.uk looks at the performance of Child Trust Funds, one year on.
April 6 2006 marked the first birthday for the Child Trust Fund (CTF), and there are undoubtedly some mums and dads out there who are feeling pretty smug with the performance of the investment that they have chosen.
One year on from launch, those who have opted for one of the riskier options will have seen their initial £250 deposit grow to over £370 if they had opted for the F & C Global Smaller Companies investment trust. This level of growth dwarfs the returns for cash based investments where parents will have seen their £250 become approximately £262 during the last 12 months.
Although the cash return may seem small beer when compared with the dramatic increases seen in some of the equity based CTFs, the situation could have been worse, i.e. they could have been one of the half a million parents who have failed to use their voucher to open an account, thus depriving their siblings of any return whatsoever.
For those who have failed to open an account, it is worth remembering that Gordon Brown confirmed in his recent budget that the Government would contribute a further £250 (up to £500 in some cases) to your chosen fund on your child’s seventh birthday.
Both Abbey and Nationwide BS report that over 60% of CTFs opened have been cash based; however when parents see the types of return that have been made in some of the non-stakeholder equity based funds, they may be tempted to switch.
However a word of caution before anyone hastily decides to make the move. The funds that offer the potential for greater returns are also those that in more turbulent times are the funds that could lose the most money, so don’t be blinded by just one year’s performance, think of the CTF for what they are – a long term savings and investment account.
There is a middle ground that falls somewhere between the cash and investment trust CTFs, namely stakeholder equity based funds that will offer potential of higher returns than cash CTF, but less risky than the non-stakeholder investment trusts.
If you are in doubt about what is the best option for your child’s savings, time spent now discussing with an independent financial adviser could prove to have been a worthwhile exercise when your son or daughter gains access to their nest egg on their 18th birthday.
April 6 2006 marked the first birthday for the Child Trust Fund (CTF), and there are undoubtedly some mums and dads out there who are feeling pretty smug with the performance of the investment that they have chosen.
One year on from launch, those who have opted for one of the riskier options will have seen their initial £250 deposit grow to over £370 if they had opted for the F & C Global Smaller Companies investment trust. This level of growth dwarfs the returns for cash based investments where parents will have seen their £250 become approximately £262 during the last 12 months.
Although the cash return may seem small beer when compared with the dramatic increases seen in some of the equity based CTFs, the situation could have been worse, i.e. they could have been one of the half a million parents who have failed to use their voucher to open an account, thus depriving their siblings of any return whatsoever.
For those who have failed to open an account, it is worth remembering that Gordon Brown confirmed in his recent budget that the Government would contribute a further £250 (up to £500 in some cases) to your chosen fund on your child’s seventh birthday.
Both Abbey and Nationwide BS report that over 60% of CTFs opened have been cash based; however when parents see the types of return that have been made in some of the non-stakeholder equity based funds, they may be tempted to switch.
However a word of caution before anyone hastily decides to make the move. The funds that offer the potential for greater returns are also those that in more turbulent times are the funds that could lose the most money, so don’t be blinded by just one year’s performance, think of the CTF for what they are – a long term savings and investment account.
There is a middle ground that falls somewhere between the cash and investment trust CTFs, namely stakeholder equity based funds that will offer potential of higher returns than cash CTF, but less risky than the non-stakeholder investment trusts.
If you are in doubt about what is the best option for your child’s savings, time spent now discussing with an independent financial adviser could prove to have been a worthwhile exercise when your son or daughter gains access to their nest egg on their 18th birthday.
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