18
Jul
2023
A person using a mobile banking app on their phone.

Savers celebrate rising interest rates, but it could mean an unexpected tax charge

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18 Jul 2023
After more than a decade of low interest rates, many people will be pleased to see the amount their savings are earning is starting to rise. Yet, it could mean you need to pay a tax charge. Interest from saving accounts may be liable for Income Tax. When the average interest rate was below 1%, you usually had to have a substantial amount held in cash accounts to face a tax charge. However, as interest rates rise, you could unexpectedly cross the tax threshold. So, read on to find out when you need to pay tax on interest and how you could avoid a bill. Do you benefit from the Personal Savings Allowance? The Personal Savings Allowance (PSA) lets you...
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18
Jul
2023
A couple looking at a map while on holiday.

Retirees, don’t overlook the surprising risk of underspending in retirement

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18 Jul 2023
Spending too much money in retirement is a common fear. Yet, some retirees struggle with the opposite challenge – they spend too little. Read on to find out why and what you can do if you’re too frugal in retirement. Underspending once you give up work may be more common than you think. It’s easy to see why some retirees adopt this approach. As many retirees are responsible for managing their income and ensuring it lasts, there is a real danger of overspending and facing a shortfall in your later years. In fact, interactive investor’s The Great British Retirement Survey found 40% of retirees worry about running out of money. However, underspending can be dangerous in a different way. It...
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9
Jun
2023
A couple watching hot air balloons in Turkey.

Research: Money can buy happiness but what you spend it on matters

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09 Jun 2023
Everyone has heard the saying “money can’t buy happiness”, but research suggests it’s not accurate. According to a study from The Greater Good Science Center in the US, spending money can boost your wellbeing. However, simply heading to the shop and splurging on the latest technology or new clothes doesn’t yield the same results. Instead, you need to intentionally spend money on experiences and things that support your goals. The research found people are happier when they spend money on experiences, like travelling or going out for a meal, rather than possessions. More than 450 participants took part in the study. They were asked to describe something they had spent money on in the last three months between $60 and...
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9
Jun
2023
A man reading a book

Why inaction is a crucial part of successful investing

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09 Jun 2023
When you think about investing, it’s probably the actions you take that come to mind. That could be researching a fund or actively investing in a company by purchasing shares. However, the steps you don’t take are just as important for your portfolio to be successful. That may sound strange, but not acting on impulses or short-term market movement is a crucial part of investing. And it can be more difficult than you think. Reacting to market movements could harm your long-term returns Investing should be logical. Yet, emotions and bias play a huge role in how investors feel and act towards their portfolios. Think about when you read a headline that states the economy is on track for recession,...
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9
Jun
2023
Someone opening a safe.

Should you lock in your savings interest rate now?

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09 Jun 2023
Over the last 18 months, interest rates have increased and the rate your savings could earn has slowly been rising. However, with some experts predicting they will begin to fall towards the end of the year, should you lock in an interest rate now? Double-digit inflation figures have led to the Bank of England increasing interest rates The Bank of England (BoE) has gradually increased its base interest rate since the end of 2021. In November 2021, the base rate was just 0.1%. This meant the cost of borrowing was low, but savers suffered. After a series of increases, the base rate stood at 4.5% as of May 2023. For savers, this is good news as it provides an opportunity...
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26
May
2023
Lady looking concerned about a phone call

4 red flags that could be signs of a scam and what you need to know about them

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26 May 2023
Each year in June, Citizens Advice runs a two-week scam awareness campaign, aptly named “Scam Awareness Fortnight”. The organisation hopes its movement will raise your awareness of common scam tactics, and mean you’re confident that you know what to do if you spot one. This fantastic campaign comes at a convenient time, as investment scams have been on the rise in recent years. Indeed, FT reports that calls to the Financial Conduct Authority (FCA) related to investment scams have nearly tripled over the last five years. Unfortunately, the pressures caused by the cost of living crisis have created the perfect environment for scammers to foster false hope and tempt you towards investments that are too good to be true. So,...
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About Me

I’ve been advising clients for over 30 years.

In this time, I’ve garnered a broad base of knowledge helping clients from various walks of life and helping create financial solutions built specifically for them.

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Mathew Brooks
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