Can I get a state pension if there are gaps in my National Insurance record?
Typically, a person who receives a state pension will have made 35 years’ worth of National Insurance contributions. But there will always be people who have not reached this milestone and will therefore miss out. You might have been off work for several years because you had children or caring responsibilities. Or perhaps you lived overseas, or were recovering from an accident or illness and were unable to work…
Should I be worried about a new banking crisis?
You cannot have failed to have noticed some rather worrying headlines recently, from the collapse of Silicon Valley Bank, which led to HSBC buying its UK arm for just £1, to the £2.5bn takeover of Credit Suisse by UBS, in a move backed by the Swiss government. Six leading central banks, including the Bank of England, are boosting the flow of US dollars to keep credit flowing to households…
Homeowners resent stubbornly high mortgage rates
While the sense of turmoil that defined Liz Truss’s brief premiership has thankfully subsided, the legacy of the measures she (tried to) implement still remains. According to the Bank of England, the number of mortgage approvals hit its lowest level since 2009 – excluding Covid lockdowns – during January this year. That means that the mortgage market has contracted for five months in succession, and many analysts believe this…
What is happening with the Government’s Pensions dashboard
For some time now, the Government has been working towards rolling out a pensions dashboard, where people can view all their pension savings in one place. This, it said, would revolutionise how consumers keep track of their pension information, put savers in control and transform how they think and plan for their retirement. That is really important when you think about how a person can easily rack up multiple…
How to avoid arguing about money
As soaring energy and food prices put pressure on your household budget, you do not want money to become a source of tension at home. So how can you make sure you and your partner do not spend all your time in conflict over financial matters? Set goals together If you are one half of a couple, you need to involve your partner in making major life decisions and…
Get ready for the end of the tax year
The end of the tax year is fast approaching and little time remains. So in the weeks ahead of the April 5th deadline, what steps should you be taking to make the most of your money and reduce your tax bill? Here are just a few areas you could look at. Use your ISA allowance You can save or invest up to £20,000 per year with a cash ISA,…
Why Young Adults Need Professional Financial Advice
If you want answers to any questions, chances are you simply pick up your phone and look online. But there are many questions in life that are simply too big for the internet to answer, ones that require specialist knowledge, insight and expertise. For example, you can not just Google how you should personally manage your investments, your pension planning or preparing your inheritance. How can the first page…
Is recession inevitable following surprise economic growth?
The word “recession” hasn’t been far from the headlines for quite a while now, as the economy struggles to bounce back from the pandemic and soaring inflation hits consumer confidence. But the latest figures have raised some eyebrows. According to the latest official data, the UK economy shrank by 0.3 per cent in the three months to November 2022. But the economy also saw unexpected growth of 0.1 per…
Why are house prices falling?
Average house prices have been falling steadily for the last few months now. In fact, the latest figures from Halifax show that prices fell by 1.5 percent in December 2022, taking the average property value to £281,272. It was also the fourth monthly decline in succession, which is staggering when you think that even a global pandemic failed to stop house prices heading upwards. Figures also showed that on…
Could maths education unlock greater financial confidence?
As the cost of living crisis bites, millions of Britons are seeking to make their money work harder for them. But many people lack confidence when it comes to numbers, which can, in turn, harm their efforts to make ends meet and plan for the future. If people aren’t confident handling figures, how can they manage their money effectively and make the best financial decisions? Education is the obvious…
