United Kingdom
The official calculators and guides the book points to for readers in United Kingdom, one for each claim.
- 1Compound interest: start early Holds
GOV.UK, Individual Savings Accounts (gov.uk/individual-savings-accounts), to check the types of ISA and this year's allowance.
- 2Small spending: cut the daily coffee Weak diagnosis
MoneyHelper budget planner (moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner), to record your income and spending by category.
- 3Pay yourself first: save before you spend Holds with conditions
GOV.UK, Workplace pensions (gov.uk/workplace-pensions) and its contributions table (gov.uk/workplace-pensions/what-you-your-employer-and-the-government-pay), to check what you and your employer pay.
- 4Index funds: own the index Holds
MoneyHelper, A beginner's guide to investing (moneyhelper.org.uk/en/savings/investing/investing-beginners-guide), to read about charges such as the Ongoing Charges Figure (OCF).
- 5Debt snowball: pay off the smallest debt first Holds with conditions
MoneyHelper, Pay off debt, save or invest first? (moneyhelper.org.uk/en/blog/debt-help/pay-off-debt-save-or-invest-first), to check which of your debts to pay first and why.
- 6Emergency fund: keep three to six months of expenses in cash Holds with conditions
MoneyHelper, Emergency savings: how much is enough? (moneyhelper.org.uk/en/savings/types-of-savings/emergency-savings-how-much-is-enough), to set three to six months against your essential outgoings.
- 7Assets or salary: wealth comes from owning assets Weak diagnosis
ONS, Household total wealth in Great Britain (ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/totalwealthingreatbritain/april2020tomarch2022), to compare your household's wealth with the medians by age and tenure.
- 8Side hustle: start a side business Not established
GOV.UK, trading allowance (gov.uk/guidance/tax-free-allowances-on-property-and-trading-income) and GOV.UK, register for Self Assessment (gov.uk/register-for-self-assessment), to check the £1,000 allowance and the current registration deadline.
- 9Frugality: spending less beats earning more Weak diagnosis
MoneyHelper, Budget Planner (moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner), to list your income and spending side by side.
- 10Mindset: belief creates wealth Not established
MoneyHelper, Savings calculator (moneyhelper.org.uk/en/savings/how-to-save/savings-calculator), to turn a savings target and a date into a monthly figure.
- 11Housing costs: fixed costs decide what a household can save Holds with conditions
GOV.UK, Benefits calculators (gov.uk/benefits-calculators), to check Universal Credit (the UK benefit for people on low incomes or out of work) and Council Tax Reduction (a cut in the Council Tax bill for people on low incomes) on an independent calculator.
- 12Stock picking: you can pick winning stocks Not established
MoneyHelper, Thinking about investing? Make sure you understand the risks (moneyhelper.org.uk/en/savings/investing/thinking-about-investing-make-sure-you-understand-the-risks), to weigh single shares against spreading money across many.
- 13Market timing: time the market and cut losses early Not established
MoneyHelper, Thinking about investing? Make sure you understand the risks (moneyhelper.org.uk/en/savings/investing/thinking-about-investing-make-sure-you-understand-the-risks), to check whether money can stay invested for five years or more.
- 14Bitcoin: a hedge against inflation Not established
ONS, Latest consumer price inflation bulletin (ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/latest) and Bank of England, Inflation calculator (bankofengland.co.uk/monetary-policy/inflation/inflation-calculator), to compare a holding's change with UK prices.
- 15Gold: protection in a crash Not established
FCA's Financial Services Register (fca.org.uk/firms/financial-services-register), to check any firm selling a gold-linked investment.
- 16Rent or buy: buying a home builds more wealth than renting Not established
GOV.UK, Stamp Duty Land Tax calculator (tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro), to work out the tax due on a purchase price.
- 17Die with zero: spend it down on purpose Holds with conditions
GOV.UK, Check your State Pension forecast (gov.uk/check-state-pension), to see the State Pension you are on course to receive.
- 18Day trading: you can make a living from it Does not hold
FCA's 1 December 2022 statement on CFD firms (fca.org.uk/news/press-releases/fca-highlights-continuing-concerns-about-problem-firms-cfd-sector) and the FCA Financial Services Register (fca.org.uk/firms/financial-services-register), to read the statement and check any firm before trading.
- 19Retirement savings: work out your number and time your state pension Holds with conditions
MoneyHelper pension calculator (moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/pension-calculator) and Check your State Pension forecast (gov.uk/check-state-pension), to see your forecast amount and the date you can claim.
- 20The 4 per cent rule: withdraw about 4 per cent a year in retirement Holds with conditions
GOV.UK, How you can take your pension (gov.uk/personal-pensions-your-rights/how-you-can-take-pension) and MoneyHelper, Flexi-access drawdown (moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/what-is-flexible-retirement-income-pension-drawdown), to compare the ways a pension pot can be drawn.
- 21401(k), ISA and super: use the tax-advantaged accounts first Holds with conditions
What you, your employer and the government pay (gov.uk/workplace-pensions/what-you-your-employer-and-the-government-pay) and the MoneyHelper pension calculator (moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/pension-calculator), to see what your contribution adds.
- 22Inflation and cash: currencies are losing value, so cash savings are being destroyed Weak diagnosis
Bank of England inflation calculator (bankofengland.co.uk/monetary-policy/inflation/inflation-calculator), to compare what a past balance bought then and buys now.