How can investments help to secure your financial future?

Posted by siteadmin on Friday 1st of July 2022

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Deciding whether investment is right for you can be difficult – and it’s not a decision that should be taken lightly. There is the potential to earn large rewards, but these rewards don’t come without risk.

Your investment strategy should be unique to you and your financial circumstances, but we’ve put together some key things to think about when considering investing your hard earned money:

1.  Set financial goals

Any successful investment strategy should be founded on clear financial goals – why are you looking to invest your money i...


Why Start planning your pension

Posted by siteadmin on Wednesday 1st of June 2022

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Pensions are one of the most crucial aspects of securing your financial future. They ensure that you are able to enjoy the new period of your life, without any new stress.

However, a recent study found that 18 million people in the UK weren’t confident in their ability to save enough for retirement.

Planning retirement is often put off ‘until tomorrow’ – it can be difficult to get started with something so complex that also sometimes feels so far away.

Here’s our guide to why one of the most important things to do is understand your pen...


Mortgage prisoners - what are they and how can you escape

Posted by siteadmin on Tuesday 3rd of May 2022

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When you already have a mortgage, but you aren’t eligible to move to a new deal, you can end up trapped on high fixed or standard variable rates and end up paying much more than others who can switch. 

The Financial Conduct Authority (FCA) estimated that there were 190,000 mortgage prisoners in the UK in 2021.

While the situation can feel impossible to escape – there is an increasing number of ways to manage the situation.

Keep reading to find out what causes mortgage prisoners and how they can be helped.  

What are mortgage prisoners?...


Government cap on care costs - what will it mean for you?

Posted by siteadmin on Friday 1st of April 2022

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In Autumn 2021, the government set out new plans for adult and social care reform in England. The changes are designed to reduce the financial burden on individuals and families funding essential care support – but what does it mean for you, and how can you plan ahead effectively?

Summary of the proposed changes

At present, there is no limit to the amount an individual can pay for essential social care during their lifetime. As a result, many families have seen their loved ones’ assets ‘swallowed’ by care-home costs, particularly in late...


National insurance changes: how will it affect the tax you pay?

Posted by siteadmin on Tuesday 1st of March 2022

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In 2021’s autumn budget, the chancellor, Rishi Sunak, confirmed the government’s planned increases to National Insurance Contributions, which are due to come into effect from 06 April 2022.

The decision comes as part of a bid to bring additional funding to the health and social care sector, with funds raised by the levy being legally ring-fenced to help clear NHS backlogs and address the ongoing social care crisis.

But what do the changes mean for employees and employers?

What are National Insurance Contributions?

National Insurance...


Making the most of ISAs

Posted by siteadmin on Tuesday 1st of February 2022

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Individual Savings Accounts (ISAs) can be a good way to put money away and save, as well as invest and grow your finances. ISAs are safe from income or capital gains tax, so your profits are all yours.

One person can deposit up to £20,000 tax-fee into ISAs each tax year. That could be all into one ISA, or split between any of the four different types: cash ISA, stocks and shares ISA, innovative finance ISA and lifetime ISA.

There are some rules:

  • Unused allowance doesn’t roll over
  • You can’t pay into more than one of the same type of I...

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...