Lasting Power of Attorney
Aging is not often a pleasant thing to think about but, it is a topic it would be foolish to ignore. The average life expectancy in the UK is continuing to increase, which means many more of us might struggle to manage our own affairs and remain independent in the future. Steps should be taken now to make sure the right decisions are made on our behalf in later…
Are you getting caught by the Inheritance Tax threshold?
Average house prices in the UK rose by 5.5% in the year to February 2023, according to the latest official figures, taking the average price of a property to £288,000 across the UK. That is £16,000 higher than it had been a year earlier – and this surge in house prices has had wide-ranging consequences, most notably, pricing many people out of buying a property. This is even more…
The Importance of Writing a Will
If you have not arranged a Will, you will not have control over what happens to your assets and property after you pass away. That could mean that what you leave behind may not go to your chosen beneficiaries and could cause lengthy and costly legal issues for the loved ones you leave behind. This can become contentious and even cause family disputes. If you die without a valid…
How to set a household budget
To work out a household budget, it is important to know exactly how much money you have coming in. Calculate what you have left from your salary once you factor in tax deductions, National Insurance and pension contributions, alongside other possible sources of income, such as investments that generate returns. You should do this for at least the previous three months, as your income may vary slightly from month…
How interest rates affect us
This year inflation has hit a 40 year high, with lots of our everyday essentials now costing more than ever before. Inflation is the measure that is used to compare the prices of goods and services with how much they cost at the same time last year. Inflation highs like we currently have were last seen in the late 1970s. In order to curb the continual uplift of prices,…
Gaps in my National Insurance Record
You may have been wondering what exactly state pension is and how you get full access to it. Hopefully this can shed some light on the subject. The full amount of the State Pension is £203.85 per week. How much you receive of this is dependent on the amount of full National Insurance contribution years you have accumulated over your working life. Most people collect full years through working…
When is the State Pension age going to rise?
Recently announced plans by the French government to raise the retirement age by two years to 64 prompted widespread outrage, with protesters taking to the streets of Paris to make their objections heard. The situation became so serious that police ended up firing tear gas at protesters, King Charles had to cancel his planned state visit to France, and you could have been forgiven for thinking that photos of…
Teach your children good financial habits
Wanting to look after your family is one of the most natural impulses in the world, and that is one reason why you will want to make sure your finances are in order, so you can provide for them after you are gone. But another way to help your loved ones is to instill good financial habits into them early on in life, so they are in a stronger…
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…
