It’s never too late for a mid-life financial check up

Matthew Barrand Blog, Retirement, Savings

You’ve got savings, a pension, perhaps even stocks and shares. You’re on track… right? The truth is our financial health could do with a check-in every now and again, and making some small changes can pay dividends, especially in mid-life. Although you might have begun your adult life on the right foot, cut to thirty years later, and changes in …

Environmental

What’s the point of saving for the future if we’ve crashed the planet?

Matthew Barrand Savings

The rise of Environmental, Social and Governance Investing. The impact companies have in terms of Environmental, Social and Governance (ESG) factors are becoming more important to investors. They are taking an interest in how their investments affect the world around them. What is the official definition of ESG? Over the last few years, Environmental, Social and Governance (ESG) has started …

Child Trust Funds’ coming of age

Child Trust Funds’ coming of age

Matthew Barrand Savings, Trusts

Child Trust Funds (CTFs) are long-term tax-free savings accounts that were set up by the government for every child born between 1 September 2002 and 2 January 2011. Over 6 million CTFs were opened, with the first of these maturing in September 2020. Every year between now and January 2029, the government estimate that 800,000 18-year-olds will receive access to …

Have you saved during lockdown?

Have you saved during lockdown?

Matthew Barrand Savings

If so, you’re part of 37% of the UK population who managed to put away more money during lockdown, as daily expenditure on commuting and leisure activities dramatically decreased. What’s more, it looks like Britain’s growing army of savers are here to stay, with 36% stating they aim to keep cutting costs post-lockdown. Could savings rates harm your goals? Unfortunately, …

NS&I Premium Bonds direct payment to bank accounts

Matthew Barrand Savings

NS&I has announced that, from the December 2020 Premium Bonds prize draw, they are stopping prize payments by warrant (like a cheque) and will be paying prizes straight into customers’ bank accounts instead. It’s quicker, easier, and safer than waiting for a cheque to arrive in the post. They will be doing this in phases, and by March 2021 will …

Flexible mortgage

Do you want your savings to work harder?

Matthew Barrand Blog, Savings

Do you want your savings to work harder, but feel uncomfortable with taking any investment risk? – then a Flexible Offset Mortgage could be for you… Very simply described, an Offset Mortgage is a way of using the credit balances in your savings and current accounts including ISAs, to help reduce the mortgage balance you are charged interest on. By …

Celebrating 20 years of the ISA

Matthew Barrand Savings

The Individual Savings Account (ISA) was launched on 6th April 1999 and it hasn’t looked back. Today it’s estimated that 42% of adults hold one, which is hardly surprising considering how simple and tax-efficient they are. When the ISA was launched, the annual allowance was £7,000 and it has risen steadily over the years. In this tax year, you can …

Savings

Saving £2880 a year could provide a retirement windfall for your child

Matthew Barrand Savings

Planning ahead and starting early can really help when it comes to building up wealth for children. Current pension rules, which could change in the future, allow a parent to put up to £2,880 a year into a pension for a child. Tax relief means that this is then topped up to £3,600. If a parent starts this once a …

Savings

Savings – do you need a nudge?

Matthew Barrand Savings

According to data from the Office for National Statistics, the UK is losing the savings habit. In the last couple of years, the savings ratio has been at about 4%, whereas in the 1990s it was closer to 15%. Statistics show that half of 20-somethings have no savings at all, and research carried out by the Money Advice Service in …

Premium Bonds

NS & I widens the chance to save for young children

Matthew Barrand Savings

Anyone aged 16 or over can now invest in Premium Bonds on behalf of children under the age of 16, meaning these gifts are no longer restricted to parents and grandparents. Premium Bonds can be bought as gifts online at www.nsandi.com/gift or by post and the purchaser will need to nominate one of the child’s parents or guardians to look …