Believe It or Not!
WHAT DOES LOL Stand for?
What does APR stand for?
What does OMG stand for?
Only 36% of people in the UK know that APR relates to the
to repayments made to Lenders.
APR
APR
36%
Understand
Understand
Don't Know
64%
Don't Know
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)
A. 1 Year
B. 7 Years
C. 15 Years
B. 7 YEARS
Borrow £100 and make no repayments
After 1 year
After 2 years
After 3 years
After 4 years
Owe £4,200
Owe £180,000
Owe £7,500,000 (£7 million)
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)
How many people are
currently unemployed
in London?
A. 1/5
B. 1/10
C. 1/15
HOW MUCH DEBT PUBLIC DEBT
DOES THE UK HAVE?
A) £1.02832088 trillion UK£
B) £400 Billion
C) £700 Million
http://www.economist.com/content/global_debt_clock
A) £1.02832088 Trillion
How much does it
cost a day to bring up
a child from birth top
21?
A. £4.58
B.£15.89
C.£27.50
C) The average cost of raising a child from
birth to the age of 21 is £27.50 a day.
According to London's
Poverty profile what is the
percentage of Londoners in
poverty?
A. 28%
B.20%
C.35%
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.
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?
A.£10 A MONTH
B.£25 A MONTH
C. £50 A MONTH
Wasting food costs the average family with children £680 a year, or
£50 a month, and this has serious environmental implications too.
How much is spent each day in the UK just using plastic
cards?
A.786, 890, 647
B.1, 278, 000, 000
C.1, 000,086,007
How often in the UK does someone declare themselves bankrupt?
How often in the UK does someone declare themselves bankrupt?
A. Every 30 minutes
B. Every 10 minutes
C. Every 4 Minutes
C. Every 4 Minutes
How much a year does a worker get on national
minimum wage?
A. 15,283.30
B. 10,920.00
C. 12, 646.40
3. 12, 646.40
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 hour
How much money has the
London living wage put back
into the pockets of working
Londoners?
A. £5 Million
B. £45 Million
C. £70 Million
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.
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 schools
Key Points
100,000 support financial education in
schools
Must be considered for Parliamentary
debate
Already has strong MP support
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!