Posted by siteadmin on Thursday 10th of June 2021
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...
Posted by siteadmin on Wednesday 5th of May 2021
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...
Posted by siteadmin on Thursday 1st of April 2021
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...
Posted by siteadmin on Tuesday 2nd of March 2021
Your tax year end checklist – what do you need to do?
As we approach the end of the financial year on 05th April 2021, you may be thinking about what you need to do before the new financial year begins, and how you can ensure your business is in the best position possible.
For business owners, there’s lots to think about over the next couple of months and there’s a lot to be done. This may include updating payroll information, expenses or submitting your annual accounts.
With so much to think about and plan for, it may seem overwhelmi...
Posted by siteadmin on Thursday 4th of February 2021
Registering your Lasting Power of Attorney (LPA) grants someone, or a small group of people, the ability to act on your behalf. This means they can make legal decisions in your best interest, if you become incapable of doing so yourself. This could include decisions regarding your finances, property or personal welfare and living situation.
Understanding your options isn’t always straightforward, so here are the answers to some questions you may have about LPAs.
1. Who can register an LPA?
Any adult who is mentally capable to make impor...
Posted by siteadmin on Friday 8th of January 2021
Diversification in investments can allow you to spread financial risks. It involves investing in a variety of ways, for example, through pensions, property, stocks and shares or even infrastructure. Although diversification does not guarantee against monetary loss, it can be a valuable technique for reaching long-term financial goals.
So, what are the key benefits of investment diversity?
1. Reaching financial goals
By investing in multiple sources, you can create a number of income streams. The accumulative amount released from these in...
Posted by siteadmin on Wednesday 2nd of December 2020
For a young person, managing finances can often seem like a difficult task. However, modern technology has made managing your own money easier than ever.
Here’s our five top tips for helping young people to manage money better:
1. Starting a part-time job
Having a job is an important part of learning how to manage finances. Part-time employment is common for young people, including college and university students, with 54.8% of 16-24 year olds being employed in 2019. Having a job provides young people with their own income and off...
Posted by siteadmin on Monday 2nd of November 2020
Planning for your retirement is an important part of securing your financial future. Pensions are a crucial part of that planning, as they can provide you with the income you need in your later life to cover your expenses and enable you to continue to do the things you love.
It’s never too early to start thinking about and planning for your retirement. Once you have a plan in place, it’s essential to test it to ensure it’s the right plan for you and your needs.
You can use our pension shortfall calculator to help yo...
Posted by siteadmin on Thursday 1st of October 2020
Planning for your secure financial future can be complex and confusing. There’s so much to think about and focusing your mind on what’s most important to you can be difficult.
Everyone’s plan is different, and it should be tailored to your individual circumstances and financial goals.
Here are eight key questions you can ask yourself when planning for your financial future, to help you to focus your efforts and decision making towards what is right for you:
- What does your perfect financial future really look like? – or what don’t you wa...
Posted by siteadmin on Tuesday 1st of September 2020
Employee benefits refer to the extra incentives provided by employers, in addition to a worker’s standard salary or wage. They provide a great way of ensuring teams feel valued, and are designed to promote employee satisfaction and wellbeing.
Some benefits are legally required, but often, additional benefits are added to employer offerings.
Core, legally required, benefits include:
Additional employee benefits you could be offering
In addition to the legally required benefit...