Speakers' Corner

David Barnes on Kilimanjaro: his latest challenge

 
David Barnes, Bath Rugby prop, who has just been forced to retire due to a neck injury, tells Confused.com about hit latest challenge away from the game...

In 2008, I was fortunate to have been given the chance to climb 5895m to the top of Mount Kilimanjaro, the highest freestanding mountain in the world.

Whilst I have been lucky enough to have played Rugby in front of huge crowds at great stadiums, the experience of spending 7 days trekking to the top of the African Continent was totally unique and one I truly treasure.

I was very quick to tell people about my experience and encouraged others to also take on the physical and mental test that Kilimanjaro provides. Regardless of how fit you are, Kili can test you to your limits. I suffered badly with altitude sickness and nearly didn’t make it to the top, but I persisted and got there in the end.

Boring people into submission

Despite this though, I was still super enthusiastic about my climb and my constant stories of ‘Kili’ must have bored people into submission and a return trip was planned for this summer.

What started off as a small group of friends rapidly began to grow as it soon became apparent that the more people I spoke too, the more people wanted to join in and take the opportunity to test themselves on the mountain made even more famous by the Comic Relief Red Nose climb of 2009.

It was soon decided that everyone of any shape, size or age would be welcome to join us with the only condition being that each person had to use this fantastic opportunity to raise money for a deserving charity of their choice. 

Help for Heroes

With the support of AXA Wealth, the AXA Wealth Kilimanjaro Challenge 2011 was born. On 2 June 2011, there will be 41 of us who will set off to Tanzania with the aim of raising at least £100,000 for charity between us.

My fellow climbers have committed themselves to raising funds for a large variety of charities including, the South West Hospice, the RFU Injured Players Foundation, Cancer Research and Help for Heroes.
Many people will be familiar with the non-political charity that is ‘Help for Heroes’ which has been set up to provide the best possible care for men and women of the armed forces who are injured whilst serving their county.

I, like many others, believe that anyone who serves in war, knowing that they may risk all, is a hero. These are ordinary people doing extraordinary things and some of them are living with the consequences of their service for life. We may not be able to prevent our soldiers from being wounded, but together we can help them get better.

For more details on the AXA Wealth Climb or to support Help for Heroes, please visit www.axawealthclimb.co.uk. 

To read our previous blog post about training for the climb, read: 'My great big Kilimanjaro challenge'.
 

Would you entrust £100,000 to an 18-year-old?

The personal finance editor of The Express, Chris Torney looks at the new Junior ISA and asks: Would you entrust £100,000 to an 18-year-old?

By Chris Torney

The government has finally announced details of the Junior ISA, the scheme that is being brought in to replace the scrapped Child Trust Fund.

At a time of widespread spending cuts, the coalition thought the CTF – which gave children a £250 present at birth, and another at age seven – was just too expensive.

Junior ISAs will have the same tax advantages as CTFs – so there’s no income tax to pay on savings interest, and no capital gains tax on investment profits – but there will be no free cash.

It is to be hoped that this will not put parents off from saving for their little ones’ futures: after all, the government money was merely meant to give CTFs a bit of a kick-start.

It was only the extra contributions made by friends and relatives that could boost the funds’ value to a meaningful level.

Junior ISAs, when they are introduced in the autumn, will allow annual deposits of up to £3,000.

Provided investment returns are reasonable, a child whose family takes advantage of this allowance in full can expect to take control of the best part of £100,000 when he or she turns 18. At the very least, the savings pot will be £54,000 if £3000 a year is saved and that’s before interest.

But, as far as many parents are concerned, here lies the problem: as with CTFs, the money saved up in a Junior ISA will transfer in ownership to their son or daughter as soon as they become an adult.

When the trust funds were launched, this was a big bone of contention, as it will undoubtedly be again when the first Junior ISAs are set up.

On one side, we have parents who have every confidence their 18-year-olds will use their windfall sensibly, as a contribution towards the cost of a college education, or as part of a deposit on a first home.

On the other, there are the somewhat less optimistic mums and dads who are convinced their children will simply splurge the cash on nights out clubbing, summer holidays and the 2030 equivalent of Xboxes.

Unfortunately, if your innocent tot grows up into an irresponsible, uncontrollable teenager, the Junior ISA offers no option to wrest back control of the cash.

So what do you think? Would you be happy to entrust this sort of money to your 18-year-old?

My view is that it’s up to me as a parent to make sure I raise my little boy well enough to use the money saved for him wisely (famous last words, I know!).

However, I admit, it is certainly a gamble.

If you don’t want to take this risk, you could easily save for your child in your own ISA. This will curtail your own allowance (currently £10,680 for stocks and shares plus cash); and you’ll have to make sure you are disciplined enough not to dip into the fund every now and then.

But if it means you’ll put more money aside without having to worry about how it will be spent, this could be the best option. 

How to unlock the earning power of your home

Your home’s hidden potential...

In these financially challenging times people are starting to see their possessions in a new light. Everyone’s familiar with the idea of making money from things they own via eBay - but now, thanks to the likes of Crashpadder.com, people can also unlock the earning potential of the spare space in their homes by letting them out to paying guests on a short-term basis.

Crashpadder's short rent community enables hosts to supplement their income while guests get to enjoy sociable accommodation, which is around 80 per cent cheaper than the hotel equivalent.

Ever considered being a homestay host?

Regardless of whether you rent or own your home, it’s likely to be your biggest financial outgoing. Short term lets can help to counter this expense by actually allowing your house to pay for itself, in much the way a B&B would.

There are around 16 million spare rooms in the UK that are left empty for the vast majority of the time. Crashpadder enables people to put this space to use and meet interesting new people while they’re at it.

Examining the benefits

Since hosts can earn up to £4,250 each year tax few as part of the government’s Rent-A-Room scheme, hosting can be very financially rewarding. This extra income can allow a family to cover luxuries they may not be able to afford otherwise, such as a car, home renovations and holidays. In fact, some members choose to let out their whole property while they’re away, which essentially pays for their entire trip. 

And the benefits aren’t just financial. According to Dave Hampton, Carbon Coach, a Crashpadder stay is up to 85 per cent more environmentally friendly than an equivalent hotel stay.

The lure of London...

London is renowned across the UK for its astronomical property prices. However, the big London events planned for the coming months could provide residents of the capital with a bit of payback.

People are already booking accommodation for the Royal Wedding and looking for short lets for the London 2012 Olympics, all of whom would like nothing more than to stay with a friendly local for a fair price. (Read more about how to rent your home for the Olympics and Royal Wedding.)

…And beyond

Regardless of where you live there are bound to be people looking for a reasonable place to stay in your part of the world. People travel and book Crashpads for all sorts of reasons from theatre trips to business trips and courses to christenings. It’s free to add a listing to Crashpadder.com so you’ve got nothing to lose by giving it a go...

Stephen Rapoport is the founder of Crashpadder.com.