WHAT DOES LOL Stand for What does OMG stand for What does APR stand for Only 36 of people in the UK know that APR relates to the to repayments made to Lenders WONGACOM If you borrowed 100 pounds off wongacom and you didnt pay it back At its APR cost of 4214 how long would it ID: 172721
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Slide1
Believe It or Not!Slide2
WHAT DOES LOL Stand for?
What does
OMG
stand for?
What does APR stand for?Slide3
Only 36% of people in the UK know that APR relates to the to repayments made to Lenders.Slide4
WONGA.COM
If you borrowed £100 pounds off wonga.com and you didn’t pay it back. At its APR cost of 4214% how long would it take to accumulate a debt the same size as the US (world largest debt at $14 trillion)
1
Year
7 Years
15 YearsSlide5
Borrow £100 and make no repayments
After 1 year
Owe £4,200
After 2 years
Owe £180,000
After 3 years
Owe £7,500,000 (£7 million)
After 4 years
Owe £315,000,000 (£315 million)
After 5 years
Owe £13,000,000,000 (£13 billion)
After 6 years
Owe £557,000,000,000 (£557 billion)
After 7 years
Owe £23,500,000,000,000 (£23.5 trillion)
B
.
7 YEARSSlide6
How many people are currently unemployed in London?
1/5
1/10
1/15Slide7Slide8
HOW MUCH DEBT PUBLIC DEBT DOES THE UK HAVE?
http://www.economist.com/content/global_debt_clock
A) £1.02832088
trillion UK£
B) £400 Billion
C
) £700 Million Slide9
A) £1.02832088 TrillionSlide10
How much does it cost a day to bring up a child from birth top 21?
A. £4.58
B.£15.89
C.£27.50Slide11
C) The
average cost of raising a child from birth to the age of 21 is £27.50 a day.Slide12
According to London's Poverty profile what is the percentage of Londoners in poverty?
28%
20%
35%Slide13
Housing costs are a critical factor in explaining why London has the highest poverty rates of all England's regions. Taking account of housing costs, the poverty rate in London is 28%, compared to 22% in the rest of England, and the gap has grown in the last decade.Slide14
Reducing food waste is a major issue. We throw away 8.3 million tonnes of food from our homes every year in the
UK.
On average how much does it cost a family?
£10 A MONTH
£25 A MONTH
£50 A MONTHSlide15
W
asting
food costs the average family with children £680 a year, or £50 a month,
and this
has serious environmental implications too.Slide16
How much is spent each day in the UK just using plastic cards?
786, 890, 647
1, 278, 000, 000
1, 000,086,007Slide17
Every 30 minutes
B. Every 10 minutes
C. Every 4 Minutes
How often in the UK does someone declare themselves bankrupt?
How often in the UK does someone declare themselves bankrupt?Slide18
C. Every 4 MinutesSlide19
How much a year does a worker get on national minimum wage?
15,283.30
10,920.00
12, 646.40Slide20
3. 12
, 646.40Slide21
Launched by London Citizens in
2001-
The Living Wage is a number.
An hourly rate, set independently, every year (by the
GLA
in London). It is calculated according to cost of living and gives the minimum pay rate required for a worker to provide their family with the essentials of life.
In London the current rate is £8.30 per hourSlide22
How much money has the London living wage put back into the pockets of working Londoners?
£5 Million
£45 Million
£70 MillionSlide23
Launched by London Citizens in 2001, the campaign has won over
£70 million
of Living Wages, lifting over 10,000 families out of working poverty.BUT STILL:
Nearly
50% of young adults are paid less than the London Living Wage.Slide24
Money Education
Not knowing your Money.....
475,000 families miss out on unclaimed benefit
Only 35% consider a purchase before they use their credit card
Average household debt is £8,042
97% believe that Money education should be in schoolsSlide25
Key
Points
100,000 support financial education in
schools
Must be considered for Parliamentary
debate
Already has strong MP supportSlide26
To date the Money Mentors program has reached
4,500 students
in colleges based all around London and there has been
54 graduates
from the Money Mentor Academy. If every student and graduate has then gone on to teach just one other person in their community, that means over
10,000 Londoners
may have improved their financial literacy because of Money Mentors!