Savings

From current accounts to savings or investing pots, it can be difficult to stay on top of the best place to keep your money. Some people will prefer to shop around and change their accounts regularly, while others may prefer to stick to one or two providers for the long-term. Which is right for you will likely come down to your personal circumstances, but here are some things to consider if you’re thinking about updating your accounts.  

A self-invested personal pension (SIPP) is a type of personal pension that offers more choice about where and how your investments are placed than a typical pension administered by a pension fund manager. The changing world of work has led many of us to consider opening a SIPP to give us some control over our retirement savings. Learn how SIPPs and other personal pensions differ and which might be best for you. 

With UK inflation, as measured by the consumer price index (CPI), climbing once again to a 30-year high of 6.2% in the 12 months to February, according to latest ONS statistics, it’s time to take a fresh look at what steps we can all take to protect our wealth from the eroding effect of price rises.  

The 2022/23 tax year ends at 23:59:59 on Tuesday 5th April 2023. To make sure you take full advantage of your ISA and pension allowances that reset at the end of the tax year, we’ve put together a guide with the key dates you need to be aware of.

January is the time to take stock of where you are in life and make plans for the year ahead. Alongside the usual aims of getting fit, finding love or career progression, more people are including financial goals among their new year’s resolutions.

The Lifetime ISA, or LISA, is a government scheme for the younger generation that offers up to £33,000 in cash bonuses for money intended for two big financial goals – buying a first home and retirement.

The short-term inflationary pulse is very weak, and yet we’ve reason to believe underlying inflation will return to the 2% government target in the medium-term.

Why are savings rates so low? Will they ever return to their pre-financial crisis levels? And what should I do with my money? Answers to these questions and more…

Now interest rates have reached an all-time low, it’s time savers cast a critical eye over their savings accounts and consider whether there is a more rewarding home for their cash.

Stock market drawdowns are never comfortable, and I say that as someone who’s experienced a few in my years. There’s a temptation to see the money in your investments fall and run for cover. But the rational side of our brain knows this is the wrong response. We know that the first rule of investing – “no risk, no reward” – means there will sometimes be downs as well as ups. The second rule of investing – “spread your risk through diversification” – can also help us here.

Santander’s 123 account is one of several cash savings accounts that recently said it will slash the rate of interest paid to savers – from 1.5% to 1%. The ongoing sting in the tail is the monthly fee customers pay simply to hold the account.

There will always be moments in your financial journey where you’ll find yourself drifting into uncharted waters. Situations that lead us to question the usual approach to our finances.