magazine archive

magazine archive

Personal Finance

Cost of living crisis: how to create a budget and stick to it

Thursday 19 May 2022

Nine in 10 people have seen an increase in their cost of living in the past month, with a quarter of people saying it was hard to pay their essential bills, according to Bank of England research. Inflation has hit 7% and is now expected to reach double digits later this year. A lot of this is...

How different versions of the same fund get taxed

Thursday 05 May 2022

Many funds have two different versions and picking the right one can have a big impact on your investment returns but also on your tax situation. Here we’ll explain everything you need to know about how tax works on ‘Inc’ and ‘Acc’ units. WHAT’S THE DIFFERENCE BETWEEN INC AND ACC? Funds that...

Here are some reasons to be more cheerful about your money

Thursday 28 Apr 2022

Whether it’s been tax hikes, the cost of living crisis, or the war in Ukraine, doom and gloom hasn’t exactly been hard to find in April. The downbeat mood around household finances is palpable, and understandably so, with the price of essential items rising so rapidly. At tough times like these, we...

Don't struggle with a big university bill. Invest now for your child’s future

Thursday 21 Apr 2022

Many American families already embrace the concept of a college fund and start saving for their children from when they are born. With the cost of university increasing in the UK, lots of parents might be thinking of starting a similar fund for their children. Anyone with younger children could...

Student loans are set to get more expensive – should you pay them off as soon as possible?

Thursday 07 Apr 2022

Chancellor Rishi Sunak has announced a shake up of the student loan system, which will make it more expensive for people to go to university and mean graduates are paying off their loans for up to 40 years after they leave university. Graduates and potentially their parents may be left wondering if...

What will the cut in income tax to 19% really mean for you?

Thursday 31 Mar 2022

In his spring statement, chancellor Rishi Sunak unveiled a surprise cut in the income tax rate, to 19%, which will take place from 2024. That will offer some relief from the frozen income tax thresholds he announced only last year, but a tax tsunami is still about to hit these shores, and it will...

What not to do as the tax year end looms

Thursday 24 Mar 2022

Sticking with cash in a high inflation world Inflation is expected to peak at more than 7% in April, just as ISA season comes to a close. Fears of savings being eaten away by inflation is probably near the top of investors’ list of worries right now. Inflation is the enemy of cash, as no cash ISA...

Rate hike: what it means for mortgage borrowers and savers

Thursday 24 Mar 2022

The Bank of England has increased interest rates for the third time in four months, taking the Base Rate to 0.75%. The Monetary Policy Committee, who decide whether rates will be increased or not, voted 8-1 in favour of a rise from 0.5% to 0.75%. The rate decision will have a big impact on anyone...

Five big personal finance changes heading your way in April

Thursday 17 Mar 2022

April is the cruellest month, begins TS Eliot’s modern masterpiece, The Waste Land . The poem was published 100 years ago, but the sentiment could well apply today. UK consumers are facing a perfect storm of rising taxes and bigger bills from next month, which means that financially speaking, April...

Six big mistakes to avoid ahead of the end of the tax year

Thursday 10 Mar 2022

Missing out on free money Whether it’s your pension, your Lifetime ISA or ensuring you claim tax breaks that you are eligible for, you want to make the most of any free government cash that you’re entitled to. Pensions benefit from tax relief at 20% for basic-rate taxpayers, but higher and...