Set specific financial targets to achieve lifestyle goals
If you’re creating a financial plan, with a view to achieving certain ambitions in life, you need to make sure that it is clear and detailed. For instance, if you want to travel more in later life, you can’t simply say you will put money aside for holidays. Or if you want to retire early, simply putting money into a pension isn’t enough. In the first example, you need…
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…
Get control of your old pensions
Very few of us have a job for life these days, with many of us moving through numerous roles and businesses as our careers progress. That means you’ll probably have several workplace pensions throughout your working life, and as time passes, it can be easy to lose track of them. You might have moved house since leaving a previous job, and your pension provider doesn’t have your new address.…
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…
Top 5 reasons to speak to a mortgage adviser
When it comes to taking out a mortgage or re-mortgaging your property, speaking to your bank might seem like a logical, natural first step to take. But you could be overlooking an alternative that would help you make a much more informed decision, as well as get a better deal on something that is one of the biggest financial commitments you are ever likely to make. Here are our…
How planning for retirement can boost your health and wellbeing
Retirement is one of those major life events that can throw up all sorts of emotions, from excitement to blind panic. But your reaction to this looming milestone can depend largely on how you deal with it in advance. If you’re prepared for retirement and have taken the right advice, you can look forward to your post-working life with confidence rather than anxiety, which benefits both your physical and…
Could your property help you with retirement planning?
Do you know how much your home has gone up in value since you bought it? If you purchased your house more than 20 years ago, chances are it’s worth a great deal more than it was originally. According to Aviva, the average value of a property owned by 65 to 74-year-olds is now £287,000. To put this into perspective, the average house price in the UK 20 years…
