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 ...

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.

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

What is inflation?
Inflation measures how the average price of goods and services changes annually, and is the main driver of the cost of living crisis....

Having ready cash on hand is an essential part of any successful financial plan.

When investing, it’s important to hold an emergency fund. This readily available cash will mean you’re prepared to protect yourself against the unexpected and also plays a vital role in maintaining your financial wellbeing.

It’s generally advised to keep between three and six months of household expenditure in an easy access account – more if you work in a particularly volatile s...

Centuries ago, Benjamin Franklin announced that “By failing to prepare you are preparing to fail”.

This is especially true when it comes to ensuring your personal finances are protected from the rainiest of days. However, with the rising cost of living likely putting pressure on your spending, you may be considering cancelling your cover, even when this could leave you more vulnerable than before. Read on to discover som...

In order for a company to grow, it can sell little pieces of itself, through what are known as shares. Many well-known businesses such as Microsoft, Amazon and Shell are listed on stock markets, which means people can buy shares in these firms. If you invest in a company that makes a profit, it could pay you a chunk of this profit.

There are two ways you can earn money from shares...

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...

At this time of year, one of the most beneficial things you can do for your money is to review your annual allowances. Make sure you’re using those that are available to you so you don’t pay more tax than necessary. The end of the tax year is on 5 April 2023 and it’s not possible to roll over most of these allowances to the following year, so if you don’t use them, you lose them.

Personal al...

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 from the ...