Top Tips for budgeting effectively this year

Posted by siteadmin on Tuesday 4th of January 2022

 

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As we come out of the holiday season, many of us are thinking about how we can tighten the reins on our finances to budget effectively this year.

No matter how much you spend over the Christmas period we believe that setting a new budget can help you to track your spending moving forward and may help you to secure your financial goals this year.

A budget is a spending plan for a period of time, usually per month, which is based on your income and expenditures. Budgets can be seen as restrictive, but they also create a lot of freedo...


Top tips for building your credit rating

Posted by siteadmin on Wednesday 1st of December 2021

 

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Your credit rating is more important than ever. It will now not only affect your mortgage, what type of credit card you can have, and what loans you’ll be able to receive, but also your mobile phone contracts and car insurance. 

A good credit rating will typically allow you to borrow more money with lower interest rates and receive more options for credit cards, mortgages, insurance and more.

What is a credit rating?

A credit rating is used by organisations to evaluate an individual’s or business’ ability to fulfil financial commitme...


Investment - the jargon busting guide

Posted by siteadmin on Wednesday 3rd of November 2021

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If you’re considering investing for the first time, it can be daunting. You want to make sure you understand everything and the risks involved, but often the vast amounts of complex jargon can make it difficult.

There are so many options for investment – the kind that’s right for you (if indeed any) will depend on your individual circumstances and relationship with money. It’s always a good idea to speak with a financial advisor before investing, so you can be sure you’re picking the right investment solution for your needs.

For many, in...


Pensions - the jargon busting guide

Posted by siteadmin on Wednesday 6th of October 2021

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Planning for the future can feel daunting, especially when it comes to your retirement and pension. Complex eligibility criteria, questions around investment amount and the overwhelming range of pensions available, means that many fall into a pattern of ‘I’ll sort it tomorrow’.

But it’s important to take the time now, perhaps with the help of a financial advisor, to sort your retirement and pension plan long before you need it.

With the Pensions Policy Institute finding that five million people approaching their retirement age in 202...


Mortgages - the jargon busting guide

Posted by siteadmin on Friday 17th of September 2021

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With so many types, complex terminologies, and policy small prints, it can often feel like an impossible task to understand all the different mortgage options, let alone which one is most suitable for you.

With the Financial Conduct Authority (FCA) finding that mortgage commitments are 15% higher than in 2020 (FCA, https://www.fca.org.uk/data/mortgage-lending-statistics), it seems the market may be beginning to recover from the COVID-19 pandemic.

Considering this, here is a jargon-busting guide to help you understand the main mortgages, ...


The Help to Save scheme - your questions answered

Posted by siteadmin on Saturday 7th of August 2021

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Financial challenges can affect anyone, at any time. Sometimes, these can be through no fault of your own, but can lead to necessary lifestyle changes. 

If you have a lower income, you may find it difficult to make significant monthly contributions to your savings. Instead, it’s likely that a lot of your income will be spent on essential outgoings, such as living costs or utilities. 

This is a familiar situation for many people, and since the COVID-19 pandemic began, there has been a sharp increase in Universal Credit claimants across th...


Inheritance tax - your questions answered

Posted by siteadmin on Thursday 1st of July 2021

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When a person passes away, their estate is often left behind for those closest to them to manage. This includes notifying all the relevant people of the person’s passing, repaying any obligations left unpaid and organising the inheritance process.

A key part of managing inheritance is inheritance tax – it’s crucial that any tax obligations are met once a person passes away.

Here’s our answers to the top four questions you may have about inheritance tax:

1.    How does inheritance tax work?

Inheritance tax (or IHT) is a tax on the esta...


You could turn your daily meal deals into £220,000

Posted by siteadmin on Thursday 10th of June 2021

 

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Over the past year, lots of people across the UK have had to tighten budgets as a result of furlough, redundancies or reduced working hours. This increased financial strain on millions of households has meant many have begun thinking about their financial future more closely, wanting to ensure it is as secure as possible.   

The Coronavirus Job Retention Scheme (furlough) has supported around 11.4 million people in the UK (source: Statista) since 2020. As a result, many salaries have been cut by 20%, with some employers being unable t...


The financial lessons learned from Covid-19

Posted by siteadmin on Wednesday 5th of May 2021

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The past year has been a difficult time for everyone, with many people feeling the effects of the financial constraints bought about by the pandemic and its various lockdowns.

Many people have been forced to tighten their budgets, with some taking pay cuts or experiencing furlough, redundancy or unemployment. This has put intense financial pressures on households, where, in some cases, there is now only one earner in the home.

Despite it being a challenging year for us all, we’ve been able to learn a variety of lessons when it comes to f...


Income Protection - four ways you can create financial peace of mind

Posted by siteadmin on Thursday 1st of April 2021

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Following a turbulent 2020, where many people have had to take time off work as a result of illness, a loss in the family or other hardships as a result of the pandemic, many have been left worrying about their financial stability.

In addition, an unstable financial situation across the country has left numerous employers with the difficult decision of letting members of their team go, heightening the worry for many of those still in work, concerned about their job and financial security.

However, as an employer, there are various benef...