Spreading the Word – Second Steppers.
Home owners living in their first home and looking to take their next step up the property ladder.
As price gaps widen between flats and houses, ‘second steppers’ need to save more than they’d anticipated because plans of using the equity from the sale of current property is insufficient to bridge the price gap. House prices have risen by 21% in the past decade and flats by 15%, hence a shortfall for some without savings.
Interesting fact: The word “macroeconomics” was born only in the aftermath of the Great Depression. @JustinWolfers
Spreading the Word – Bank of Mum and Dad.
A person’s parents regarded as a source of financial assistance or support (Oxford Dictionary).
Choose your parents wisely. First time movers are increasingly turning to this resource asking (according to Lloyds) for an average £22,480, as Second Steppers were having to find an additional £125,700 bridge for the gap to a detached property, falling by £17,370 for a semi-detached.
The word “school” comes from the ancient Greek word for “free time.” @neverknownfacts
Spreading the Word – Generation Rent
The generation of young adults, with a high proportion who believe they will never be able to own a home.
Depending on the agent, according to research by Urban, tenancy fees can vary excessively between towns. Basingstoke was found to be the most expensive town and Harborough the cheapest, the difference in charges was 1500%.
I’m about to use a word I haven’t deployed in this context since the 80s. Ready? Ok. This new @DerikHultquist album is tasty. There ya go. @briankoppelman
Spreading the Word – Millennial
Someone reaching adulthood around the year 2000.
According to research, Millennials want to stand out from the crowd. Retailers be aware, be ready to adapt and get ready for GenZ, which are ‘millennials on steroids’ (Ernst Young)
Business is an interesting word with interesting spelling @Manuliroy
Spreading the Word – Blockchain
The Blockchain is essentially a giant record book of all Bitcoin transactions, it is to Bitcoin what the internet is to email (FT Lexicon). The technology behind bitcoin digital currency, essentially an open ledger which authenticates each step of a transaction and securely shares information.
The BofE and PWC have teamed to produce the banks first distributed ledger proof of concept as it seeks to work with FinTech firms to solve financial challenges and see how they work in practice, to examine the mechanics of a digital currency and for participants to join a minted, circulated online currency network to exchange or withdraw instantaneously.
Google was named thanks to the misspelling of the word googol, which means a one followed by one-hundred zeros @GoogleExpertUK
Spreading the Word – FinTech
As it says on the tin, financial technology, usually with software that has a disruptive element to usual financial systems.
Mastercard has predicted the end of cash within twenty years, contactless has spread by 326% year on year. The Governor of the BoE has remarked that “Financial technology companies will change the nature of money, shake the foundations of central banking” and “deliver nothing less than a democratic revolution for all who use financial services” as the bank announced it will launch a FinTech accelerator programme.
Strange how adding an “e” to the end of a word makes it seem old, but adding one to the beginning makes it sound high-tech.@showersthinker
Article credit: Copyright SUF © 2016
