magazine archive


magazine archive

Money Matters

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...

Eight changes to your money happening next month

Thursday 19 Mar 2020

The new tax year is looming, and with that always comes a raft of changes to tax rates, the limits for tax breaks and how much of your pay goes into your back pocket each month. The changes happen on 6 April which is the start of the new tax year. Some of them have only just been announced in last...

The tax quirks that mean you pay up to 200,000%... and how to avoid them

Thursday 12 Mar 2020

The tax system has become so complicated that many people find they are paying far more than the top rate of tax, as a £1 pay rise can mean certain benefits or allowances are whipped away. The highest rate of income tax in the UK is 45% for anyone earning £150,000 or more. But some people on far...

Inc vs acc: choosing the right fund type to collect or reinvest dividends

Thursday 27 Feb 2020

Share classes on funds can be confusing, but picking the right and wrong one can make a significant difference to your portfolio. Often investors will be faced with a confusing array of letters or acronyms after a fund name, which can look like alphabet soup but actually make a big difference to...

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