Cost of living crisis: Why you should review your budget and plans

The cost of living is rising. Reviewing your finances now is crucial for understanding what effect inflation could have on your lifestyle and long-term plans. Inflation was at an almost 40-year high. In the 12 months to August 2022, it was 9.9%. There are several factors contributing to rising inflation, including the conflict in Ukraine, […]

Five practical reasons; why you should create a financial plan with your partner

Money and financial goals are still sometimes viewed as taboo subjects, even within relationships. If you’ve been putting off conversations about finances, creating a plan together could have many benefits. Actively talking about money can be positive for both you and your loved ones, and research suggests it’s something younger generations are more likely to […]

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How might rising interest rates affect your mortgage?

The Bank of England has raised interest rates and warned further hikes are likely in the coming months. This will mean bigger bills for some homeowners. On 22 September 2022, the Bank of England raised interest rates from 1.75% to 2.25% - the seventh hike since December 2021 - in a bid to combat soaring [...]

What the recent Growth Plan and Government U-turns mean for you and your finances

Now that the dust has started to settle, what do the recent announcements, and U-turns, mean for you and your finances? What is still happening The National Insurance contribution rate will fall from 6 November 2022. In April 2022, the National Insurance contribution (NIC) rate increased by 1.25 percentage points to pay for additional health [...]

Pension lifetime allowance – how it affects you

In his 2021 Budget, the Chancellor announced a five-year freeze on the lifetime pension allowance. What does this mean for you and your retirement fund? What is the lifetime pension allowance? The lifetime pension allowance sets a limit on how much you can save in your pension before you start paying tax on anything over [...]

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What does the base-rate increase mean for you?

What does the base-rate increase mean for you? In a bid to tackle rising inflation, the Bank of England has increased the base rate for the seventh time since December 2021. The 0.5% hike takes the interest rate to 2.25% - the highest since November 2008, when the banking system faced collapse. So, what does [...]

Energy costs statement

After a prolonged period of speculation, the new Prime Minister Liz Truss has announced preliminary details of how the government plans to deal with the energy price crisis. In late May this year, the then Chancellor, Rishi Sunak, announced a range of measures to reduce the impact of the anticipated October 2022 Ofgem utility price [...]

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