If you want to lend money to family or friends what do you need to know?
A new report says that families are giving or lending over £440 a year to each other. Here’s a family finance survival guide.
According to the insurer Aviva, almost a third of families provide financial support to each other or to close friends. On average, it adds up to £440 a year, but interestingly, single parents were likely to give the most. Over the last few months the ‘ask the expert’ panel has received a number of questions from people who want to give money to friends and family or who’ve lent money (sometimes to find it’s not been repaid). So how can you support your family by lending or giving cash?
It can be an incredibly emotional time. Susan McNally, who is just about to see her third and youngest child leave home to start at university says ‘It doesn’t get easier. You have to remember that they’re excited about the prospect, so you have to be excited for them. If you share in their excitement and encourage them to go, then they will look forward to coming home to visit’. Here are some tips on how to prepare for your child’s departure to university or college.
What are your rights if you work as an intern? Should you always get paid?
It’s estimated that around 250,000 young people will work as interns but unions and pressure groups say they’re often exploited.
Updated 18th November 2011
HMRC has announced it's planning to crack down on unpaid internships in the fashion and media industries. The law says that interns should get paid the minimum wage (currently £6.08 for people aged 21 and over) if they’re a ‘worker’ (which means if they're given set tasks and expected to work set hours), unless it’s for a charity or as part of a university or college course. But many internships aren’t paid and only cover transport and lunch costs.
