How to get your finances in order to make more of your money
Do you feel like your financial life has been turned upside down during the coronavirus (COVID-19) pandemic? Or, has the start of the new year focused you on getting your finances in order to make more of your money? Whatever the answer is, it’s important to adopt healthy financial habits.
It’s time to identify, plan for and potentially mitigate your tax burdens
While the Chancellor of the Exchequer, Rishi Sunak, is looking to reduce the tax gap, there are nonetheless still opportunities to review your financial arrangements for saving tax throughout the tax year. Taking action now will give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions before the end of the 2020/21 tax year on 5 April.
Pandemic causes people to re-evaluate their financial resilience
Managing your current and future finances successfully can be a minefield in today’s economic climate. The coronavirus (COVID-19) pandemic has derailed many a financial plan, ushering in job losses, decreased earnings and creating lifestyle changes that have the potential to send our spending into an unhealthy cycle.
When long-term relationships split up, there are a host of implications for mortgages, savings, tax and Wills requiring careful consideration to avoid hardship. If you are contemplating divorce, are in the middle of divorce proceedings or dissolving a civil registered partnership, it’s important to understand how the current economic and financial situation could affect you.
Older family members supporting younger generation through the pandemic
Young people have been one of the worst-affected groups from the coronavirus (COVID-19) pandemic, particularly in terms of the labour market and mental health outcomes. But it’s their parents and grandparents who are paying the price financially.
Over-50s concerned about job security due to COVID-19 pressures
The coronavirus (COVID-19) pandemic crisis could leave the next generation of retirees significantly poorer and sicker. 4.8 million people over 50 and in work fear losing their job because of the COVID-19 pandemic, according to new research that reveals fears of finding a new role.
Navigating the complex choices planning for the future brings
When we talk about financial wellbeing, we refer to how you feel about the control you have over your financial future – and your relationship with money. This includes your ability to respond to financial unpredictability and unexpected expenses.
Time to get back to dreaming about stopping work. Not dreading it.
Life changes when you retire – and so does how you spend your money. Whatever your plans, it’s important to keep on top of things and think about the lifestyle you want. It’s also worth noting the average life expectancy at age 65 years is 18.6 years for men and 21.0 years for women.
Coronavirus spurs one in six to take action on their Will
Have you decided what will happen to your property and belongings after your death? It is never too early to be thinking of making a Will and to ensure that your assets and estate go to the people you want them to. If you don’t, that may not happen.
Hastings O'Loughlin is a business name of Hastings O'Loughlin Financial Services Ltd. Company No. 4502991. Registered Office at Hastings House, Birds Royd Lane, Brighouse, HD6 1LQ. Authorised and Regulated by the Financial Conduct Authority.