Festive Opening Hours
Our office opening hours over Christmas are as follows:
Monday 18th December: Closed from midday due to our staff Christmas party
Tuesday 19th December: Open all day (please talk quietly if you ring us, we may have delicate heads!)
Wednesday 20th December – Monday 1st January – CLOSED
Tuesday 2nd January – Open as usual
We are looking forward to a break with our families and hope that you are not thinking too much about your pensions and investments at this time of year.
The Christmas Price Index
This index is a tongue in cheek look at the cost of buying each of the gifts in the well-known Christmas song, The Twelve Days of Christmas, on each of the 12 days of Christmas.
A quick bit of mental arithmetic (followed by the use of a calculator!) tells us that if you were to do so you would end up with 364 gifts, including 44 geese, 40 gold rings and 12 partridges in your pear tree!
Whilst the index is based in US dollars it does give us an indication of the cost of Christmas and whether this is rising or not.
The index this year places the individual cost of these items at $34,558 and the total cost of buying these gifts on each day of the 12 days of Christmas at a whopping $157,558, this is an increase of 0.6% from the previous year.
The index is put together by a U.S bank called PNC and was the brainchild of their chief economist back in 1984, when the total cost of all 364 gifts was ‘just’ $61,318.
Whilst this is a tongue in cheek look at the cost of Christmas, its methodology does give some insights into general trends, for example it factors in the cost of commodities such as gold, rising labour costs and even online delivery charges so whilst you are unlikely to be buying many of the items in the song, you will be affected by these costs.
Inflation here in the UK has increased over recent months and it will be interesting to see the data when it comes out in the New Year around how the ‘High Street’ has done during this normally busy time.
However, you are spending your money at this festive time, we hope that you have an enjoyable and peaceful Christmas.
Given the rising cost of Christmas you may want to consider putting some extra pennies in the piggy bank, but do you know where the phrase ‘piggy bank’ comes from?
The origins of the Piggy Bank!
During The Middle Ages, around about the 15th century, metal was expensive and seldom used for household wares. Instead, dishes and pots were made of an economical clay called “PYGG”.
The oldest Western find of what we would now call piggy banks date from 2nd century BC, in Greece. These money pots featured the shape of a miniature Greek temple with a slit in the pediment. Money boxes of various forms were also excavated in Pompeii and Herculaneum, and appear quite frequently on late ancient provincial sites, particularly in Roman Britain and along the Rhine.
So it seems people have been saving for a rainy day since before Christmas was even Christmas!