What is the State Pension Triple Lock?
The Chancellor’s decision to protect the State Pension Triple Lock was one of the most headline-grabbing aspects of the recent Budget. But what exactly is the triple lock and what does it mean? In short, it’s a mechanism designed to make sure the state pension does n0t lose value, so it will go up by whichever is highest of the following measures: Average earnings The rate of inflation (as…
Set financial new year’s resolutions for 2023
The new year is almost upon us and we will all be setting our resolutions for the next 12 months. Perhaps you want to improve your diet, quit smoking, learn a new skill, or pick up an old hobby that you have let slide over the years. But have you thought about improving your financial habits too? The new year could be a perfect time to get to grips…
Why it is good to talk about money this Christmas
With inflation at its highest level in more than 40 years, and energy and food bills continuing to head upwards, many are feeling the pinch – but perhaps even more so now that Christmas is fast approaching. According to a recent poll by PayPal, 58 percent of Brits are anxious about the cost-of-living crisis, and 44 percent are worried about financial pressure over the festive period. But significantly, 75 percent…
Are you saving enough money?
How much money do you have in your savings account? How long would your head stay above water if you lost your main source of income? These are important questions, particularly as the cost-of-living crisis bites, but several new studies have revealed that many people have a worryingly small amount of money saved up. According to the Money and Pensions Service (MaPS), nine per cent of UK adults only…
Could professional financial advice help you through the cost-of-living crisis?
With soaring inflation and rising interest rates, many people are feeling justifiably anxious about making ends meet. That is partly because the key triggers of the cost-of-living crisis are beyond our control. It is easy to start feeling completely helpless. But there is something you can do that may ease any anxiety you have. Speaking to a regulated, professional financial adviser like ourselves could make the difference. According to…
How are interest rates and inflation linked?
The Bank of England’s aim is for the country to have low and stable inflation – and it works to a target of two percent. Changing interest rates are the Bank of England’s mechanism for achieving its inflation target, and in the current climate of high inflation, it believes raising rates is the right approach. Otherwise, they believe that the problem will continue to get worse and interest rates…
Don’t panic over mortgages amid market turbulence
Since the Chancellor, Kwasi Kwarteng, delivered the recent Mini-Budget, we’ve seen the pound crashing to its lowest level against the dollar in 37 years, the Bank of England buying £65 billion of government debt to stop some pension funds collapsing and the International Monetary Fund openly criticising the government and urging it to re-evaluate its policies. We’ve also seen many lenders stop offering mortgages. In fact, a record 935…
How does the falling pound affect me?
The pound went into freefall after Chancellor Kwasi Kwarteng’s Mini Budget, with news of a raft of tax cuts at a time of soaring inflation and rising interest rates sending chills through the markets. For many, talk of financial markets, exchange rates and the value of the currency can seem very remote and abstract. But these things have a big impact on our day-to-day lives. Here are just a…
Autumn Mini Budget – Key Announcements
Kwasi Kwarteng, the new Chancellor of the Exchequer, has delivered a mini-Budget, dubbed The Growth Plan, in which he promises “a new approach for a new era.” The Chancellor has put tax cuts and driving economic growth at the front and centre of his fiscal plan, as the government seeks to get to grips with soaring inflation and rising interest rates. So, what exactly did he announce? Let’s take…
Teach your children good financial habits as they head to university
You have worked hard to be able to afford to send your child to university, and now the time has come for them to fly the nest and strike out on their own. Naturally, you want them to start their adult life with good financial habits. Here are a few snippets of wisdom you could share with your son or daughter before they head off to university, so they…
