How engaged with your finances are you? A survey suggests that millions of Brits aren’t actively managing their finances and it could mean they’re missing out on opportunities or overlooking risks. According to a Legal & General survey, almost half of adults are “financially disengaged” – that’s the equivalent of 24.5 million people. If you’re among the financially disengaged group, here are seven small tasks that could help you get to grips with your finances. 1. Review your spending Going through your spending can seem like a tedious task, but it’s a simple step that could identify where you’re spending more than you think. From direct debits for services that you don’t use to the cost of a regular coffee... Read More

In a bid to encourage early retirees back to work, chancellor Jeremy Hunt unveiled several changes to pension allowances during the Budget. The announcements could mean you’re able to save more in your pension and boost your retirement income. Here are the four key pension changes Hunt announced. 1. The Lifetime Allowance will be abolished Previously, the Lifetime Allowance (LTA) has limited the amount of pension benefits you could tax-efficiently build up in total. Those that exceeded the allowance could face an additional tax charge when they accessed their savings. In the 2022/23 tax year, the LTA was £1,073,100. It meant that some savers stopped pension contributions or even retired early because they didn’t want to cross the threshold. For... Read More

British people love to enjoy their gardens and get their hands dirty cultivating outdoor spaces. It’s a love that can be traced back centuries to Roman occupied Britain. If you’re starting to think about spring projects to transform your garden, looking at the history of British gardens could provide you with some inspiration. Research from the Royal Horticultural Society estimates that there are 33 million gardeners across the UK. By 2030, it’s estimated that the ornamental horticulture and landscaping industry will be worth a huge £42 billion. So, if gardening is a pastime you enjoy, you’re certainly not alone. And, gardens being important to British people isn’t a new phenomenon. Romans (43 – 410) The earliest evidence of gardens in... Read More

The FIRE movement is a small but growing lifestyle movement. It stands for “financial independence, retire early”, and challenges the traditional path of working until you’re in your 60s before retiring. While the steps FIRE members take can be extreme, it does share some of its core principles with financial planning. In essence, the FIRE movement involves extreme saving and investing to create a passive income that aims to allow members to retire far earlier than a typical person would. Over the years, several different variations of FIRE have emerged but the goal for all of them is to provide financial freedom which means members can live the lifestyle they want. Here are five ways FIRE is similar to financial... Read More

The latest figures from the Pension Regulator prove that pension auto-enrolment has been a success – more people than ever are saving into a pension. Yet, research also shows that many people don’t think they know enough about saving for retirement. Before the government introduced auto-enrolment in 2012, just 4 in 10 private sector workers were actively saving into a pension. Now, more than 70% of employees are taking steps to secure their retirement. According to the Office for National Statistics, pensions represent the largest portion of private wealth in the UK. Individuals hold £6.4 trillion in pensions. The figure compares to £5.5 trillion in property and £2 trillion in cash. The number of people saving for retirement is rising... Read More