20% of Brits can't change a light bulb
Some 20% of the British Public admit to needing help with changing a light bulb.
With a Bank Holiday weekend here again, it appears many of us are gearing up for more DIY disappointment.
In fact, one in six (17%) people describe themselves as a 'DIY disaster case', research from Santander Insurance has found.
And homeowners' lack of DIY skills is hitting them in the pocket to, with 7% of people forking out an average of £195 in the past 12 months to repair damage they have done to their home, with 14% causing such significant damage they had to pay more than £500 to put it right.
Perhaps unsurprisingly, younger people struggle with even basic household tasks.
More than a third of people aged 18 to 34 (35%) said they are not confident hanging a picture on their own, 64% are not confident bleeding a radiator and, despite the rise of furniture stores like Ikea, 46% said they need help assembling flat-pack furniture too.
Nearly half (43%) believe, probably correctly, that their DIY skills are worse than their parents.
Alan Mathewson, head of Santander Insurance, said: "While DIY is a good way to save money, more complex tasks such as electrical and building work are often best left to professionals.
"Our advice to anyone attempting home improvements is to be realistic about whether they have the skills and the time to undertake such a task, and to take all the necessary precautions to avoid injuring themselves."
Investors who borrow money they use for investment and use the securities they buy as collateral for the loan are said to be “gearing up” the portfolio (in the US, gearing is referred to as “leveraging”) and widely used by investment trusts. The greater the gearing as a proportion of the overall portfolio, the greater the potential for profit or loss. If markets rise in value, the investor can pay back the loan and retain the profit but if markets fall, the investor may not be able to cover the borrowing and interest costs, and will make a loss. Also used to describe the ratio of a company’s borrowing in relation to its market capitalisation and the gearing ratio measures the extent to which a company is funded by debt. A company with high gearing is more vulnerable to downturns in the business cycle because the company must continue to service its debt regardless of how bad sales are.