Savings Apps
There are now various apps that are geared towards helping a person to save their hard-earned money. Over recent years, these apps have become more sophisticated and now offer the option to use Artificial Intelligence powered tools to maximise savings. If you are someone that has struggled to consistently save in the past, this may well be a fabulous option for you. With a variety of options, new finance…
Budgeting in 2025
January seems like the perfect time to start getting your finances in order, so what better time is there than now to start budgeting and putting good financial habits in place? The budgeting rule of 70:20:10 takes into account the higher costs of living that families are under today. It recommends spending 70% of household income on necessities such as housing costs, bills, food and transportation. The next 10%…
Financial Resolutions for 2025
Happy New Year! Have you already set resolutions for 2025? If not, it’s not too late! Or, if you haven’t set a financial resolution, then we’d encourage you to do so. Setting a financial resolution can help you to feel more financially secure. Even something very small can start good habits that will help you in the future. It is very easy to put things off or say to…
Gifting for Inheritance Tax Purposes
The recent Autumn Budget was delivered by the Labour Government on the 30th October. Following the announced changes, more estates will be facing potential Inheritance Tax (IHT) charges of 40%. One way in which to reduce the size of an estate, and bring it under the thresholds for paying IHT, is through ‘gifting’. Gifting via the following methods to mitigate Inheritance Tax means that the donor would not need…
Estate Planning for Blended Families
A Blended Family is created when two people live together that have children from previous relationships – these are increasingly common in the UK. Having an up-to-date will in place ensures that your estate will pass to those you want it to go to when you pass away. Have you got a valid Will in place? Is it up-to-date? Does it accurately reflect your wishes? With the dynamic of…
Retirement Living Standards
Pensions aren’t necessarily thought about much, until an individual is nearing their retirement age. However, the Pension & Lifetime Savings Association (PLSA) is trying to change this, with their Retirement Living Standards, which they hope will become as well known as the ‘5-a-day’ moniker. The idea is to help people have an idea of how much it was will cost them each year in retirement, which should, in turn,…
Is the Santa Rally Real?
The last week of December and the first few days of January are generally positive for markets – this has been coined the ‘Santa Rally’. Stock markets move in a positive fashion, emulating the positivity around the festive time of year. Historic data shows that it doesn’t happen every year, but looking over longer periods of time, there have been more instances of a market pick-up during this time…
State Pension Triple Lock is Here to Stay
The Triple Lock guarantees that the State Pension increases each year. It also ensures that it increases by the highest justifiable rate, which has led to some very real funding concerns. The Triple Lock policy dictates that the State Pension increases every April in line with whichever of these is highest: Consumer Prices Index from previous September Aver increase in UK wages for the previous May to June 2.5%…
Highlights from the New Budget
Rachel Reeves announced her first Autumn Budget as Labour’s Chancellor of the Exchequer last week. Her main focus was raising £40 billion of tax for the country, to fill what she described as a ‘black hole’ deficit that had been left by the previous Conservative government. The main ways in which she will raise these taxes is through increased Capital Gains Tax; bringing Pensions into estates for Inheritance Tax…
Accident, Sickness and Unemployment Cover
Accident, Sickness and Unemployment Cover (ASU) is designed to cover a portion of your income if you are unable to work because of illness, injury or compulsory redundancy. It usually pays 75% of your monthly income tax-free. This is enough to cover bills, but little enough to encourage you back to work! ASU is a type of short-term income protection, typically offering payouts for no longer than 2 years…
