5 ways saving little and often could help you grow your wealth

When it comes to investing your money, making small regular investments can provide more benefits than investing a lump sum. Through regular investing, you can invest a small amount into the markets every month. Investing little and often is a great habit to develop and instil in younger family members, too. Instead of saving up a chunk of money to invest in one lump sum, investing this way can make a significant difference to your overall levels of wealth over the longer term. ...

If you’re currently on a fixed rate mortgage (unsurprisingly, as they are the most popular mortgage at the moment)* you might be thinking that another fixed rate mortgage is the obvious choice when your current one ends.

It’s understandable to see why. Fixed rate mortgages give borrowers stability – you know exactly how much you’re paying each month, for a set period of time, and can budget accordingly.

And after over a decade of low interest rates, fixed-term mortgage deals have become the go-to for many homeowners. However, this doesn’t ...

When preparing to buy your first home, saving for a deposit can be a difficult process. As house prices, inflation and the cost of living increases, it can be challenging trying to save a large sum of money. It’s also important to consider all the other costs that are involved in buying a property – conveyancing, legal fees, insurance policies and moving to name a few.

How much do I need to save?

A 5% deposit of the property value is the minimum amount you are able put down, however your options may be limited. The larger deposit you can p...

The start of a new financial year is a great time to review your finances – whether it’s your savings and investments, mortgages or insurance policies.

Higher interest rates and the rapid increase in the cost of living are likely to be affecting many areas of your finances. The start of the year is the perfect time to think about any concerns you may have and to ensure you’re making the most of your money.

Savings

After many years of low rates, savings accounts have made a substantial comeback following a series of interest rate rises fro...

Start of the tax year checklist

The new tax year commenced on 6 April 2023 so its a great time to review your finances.

The new tax year means annual allowances are reset and ready to be reused – to help you make the most of your money. This year more than ever, with interest rates and inflation on the rise, it’s a great time to review your pensions and investments.

Note: The following figures apply to the 2023/2024 tax year, which starts on 6 April 2023 and ends on 5 April 2024.

ISAs

The maximum you can invest across your ISAs is £20,0...

Five practical ways to protect your money during the cost of living crisis

With inflation at its highest level in 41 years and energy prices skyrocketing, the cost of living crisis has dominated headlines since inflation began to creep up from historic lows in mid-2021.

While the Covid pandemic began the inflationary increase, this was further exacerbated by the war in Ukraine pushing up energy and food prices even further.

Following such an extended period of price rises, you may be concerned about your household finances and long-term...

How to take control of your finances as a woman business owner

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 do. According to Royal London, 76% of 18 to 24-year-olds spoke to their parents about money matters when they were growing up. In contrast, this falls to 43% for those over 65.

If mon...

It’s a good idea to know how your investments are taxed when selling them. Here are some of the ways you can organise your assets to make them tax efficient.

One of the worst things about earning money is that you have to pay tax. Whether it’s your salary or the interest you’ve earned on your investments, the taxman will almost always take a chunk. If you sell stocks or bonds for a profit, you may need to pay capital gains tax (CGT). The good news is that if you put your investments in a tax wrapper you can shield them from the taxman. Popu...