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PRESS RELEASE
New Year resolutions failed? You can have another chance to get healthy – and wealthy – with the start of the New Financial Year on April 6 2000. And by following The Motley Fool's Financial New Year Resolutions you could become a millionaire.
The Motley Fool (www.fool.co.uk) aim to help people create their own wealth by making money management entertaining, profitable and therefore 'Foolish.'. Saving £300 a month – from spending you may have previously thought essential – could make you a million in 30 years.
Historically over a period of 30 years, a FTSE index tracking investment would have returned around 12.2%. Projecting this forward, investing £300 a month would make you a millionaire in 30 years.
| Resolution | Monthly Saving | ||
| 1 | give up smoking | we're all aware of the health risks, but quitting a 20 a day habit could seriously improve your wealth | £124.00 |
| 2 | cut down on booze | the average UK household spends £14.00 per week on alcohol – halve that, and you'll make a big saving. When you're a millionaire, splash out on vintage Champagne | £30.33 |
| 3 | bring your own lunch to work | a sandwich, crisps and an apple at a high street supermarket costs around £2.00 a day – independent sandwich shops are often much more expensive | £40.00 |
| 4 | cycle to work | cycling is healthy and environmentally friendly and can save you a lot – in London you could save £17.60 a week on a Zone 1-2 Travelcard | £76.26 |
| 5 | don't play the lottery | on average we each spend £1.80 on the lottery a week. The chance of matching all six numbers is 14 million to one, so you're more likely to become a millionaire the Foolish way! | £7.80 |
| 6 | get rid of your credit card debt once and for all | for instance, a £1,500 credit card bill at the end of every month will mean £20.83 interest (at an APR of 18%) | £20.83 |
| 7 | save part of your salary too | a regular monthly saving of just £100 on top will mean the magical £300 target is easily achievable – even if some of your other resolutions fall by the wayside | £100 |
| Total: | £399.22 | ||
Dr David Berger, Chief Editor of The Motley Fool, commented: 'The new Financial Year which starts on 6 April 2000 is a great time to make life changing resolutions. If you aim to get fit and healthy, why not plan to become a millionaire at the same time?'
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Reference
1. Based on a £4.00 packet
2. Office for National Statistics: Family Spending in the United Kingdom 1998-99
5. Camelot – average of £82m spent on lottery a week / between 45-46 million adults 16+ in UK
Notes to editors:
Please contact Jon Hollett at the RED Consultancy if you would be interested in offering readers the opportunity to win copies of The Motley Fool UK's best selling Investment Guide.
The Motley Fool
The Motley Fool's mission is to make individuals' management of their money fun, profitable and therefore 'Foolish', by challenging conventional industry 'Wisdom'.
www.fool.co.uk has been doubling in size every three months since May 1998 and now has over 13 million page views and 210,000 visitors every month. The Motley Fool provides content for most popular websites in the UK including Yahoo!, MSN, AltaVista and Freeserve, writes a weekly newspaper column for the Independent on Sunday, and has published four books of which the Motley Fool UK Investment Guide was a best seller on Amazon UK.
The Motley Fool is the number one US finance and investment website, with 2.5 million visitors a month, over a million Motley Fool books in print, a national syndicated radio show and newspaper column in over 180 newspapers.
For further information:
Jon Hollett
The RED Consultancy
T: 020 7465 7792
jonh@redconsultancy.com
Emily Wintle
The RED Consultancy
T: 020 7465 7744
emilyw@redconsultancy.com
Lisa Taylor
The RED Consultancy
T: 020 7465 7704
lisat@redconsultancy