magazine archive

magazine archive

Money Matters

Pocket money apps: what are they and which is best?

Thursday 28 May 2020

For many families it now seems old fashioned to hand over some shiny coins to your child each week to be deposited into a piggy bank. These days many parents have turned to apps to pay their children pocket money and keep track of where they are spending it. In the UK the most popular ones are...

Lifetime ISA exit penalty cut – but what does it mean for savers?

Thursday 21 May 2020

The Government has temporarily cut the exit charge that savers pay when they withdraw money from their Lifetime ISA for anything other than buying a first home or reaching age 60, reducing it from 25% to 20%. During the current crisis the Government has recognised that people might need to access...

50 days of lockdown: how have fund investors fared?

Thursday 14 May 2020

We’re now 50 days into lockdown in the UK and during that time, despite all else that’s been going on in the world, there has been lots of positive news for investors. Even though there’s been plenty of turmoil to businesses, markets are rising, the vast majority of funds have delivered positive...

Debt and savings crisis looms in coronavirus lockdown

Thursday 07 May 2020

Research shows 20m Brits have already had to dip into their savings as a result of the crisis, after seeing their income hit. A survey of 2,002 adults in the UK by AJ Bell shows that younger people have been hit the hardest, with more having to dip into their savings or take on debt just to make...

Your coronavirus finance questions answered

Thursday 30 Apr 2020

A large chunk of the nation has seen their finances impacted by coronavirus, with more expected to be hit in the coming weeks and months. But what can you do during this time and where can you find help? We answer the big questions in this article. MY INCOME HAS FALLEN, CAN I STOP PAYING MY...

Mortgage holidays: what are they and how do they work?

Thursday 23 Apr 2020

More than 1.2m people have taken advantage of mortgage payment holidays after the Government told banks they had to offer them to customers. But how do these holidays work and what do they cost in the long term? As part of its package of measures to help people affected by the coronavirus outbreak...

Where can you get the best rates on cash savings?

Thursday 16 Apr 2020

Demand is increasing for cash savings accounts as more people become fearful about investment markets. People are also worried about tough financial times ahead and are building up their emergency cash pots in case they need to dip into them in the future. While it might not seem worthwhile to...

Five steps to get your finances recession-proof

Thursday 09 Apr 2020

If the UK is headed for recession people need to get their finances into shape, cut outgoings and try to save as much as possible while they can. Many people are worried that the economic impact of the coronavirus will drag the UK into recession. While official economic data isn’t available yet,...

Saving for retirement: when to use a Lifetime ISA or a pension

Thursday 02 Apr 2020

As we near the third anniversary of the Lifetime ISA being launched, and the end of the tax year, many people will be wondering whether they should be using a pension or a Lifetime ISA to save for retirement. It depends on your circumstances as we now explain. THE BASICS Lifetime ISA You can save...

What does the coronavirus outbreak mean for retirement investors?

Thursday 26 Mar 2020

Investors are enduring the first ‘bear’ market (when stock markets fall by 20% or more) since rules were introduced in 2015 giving people total flexibility over how they spend their pension pot from age 55. In fact, the uncertainty gripping markets since the coronavirus outbreak hit means millions...