What’s changed for the tax year 2019/20?

We’re a few weeks into the tax year already, and if you’re going to make the most of the allowances and tax breaks on offer, it’s important to understand what’s changed. Getting to grips with the changes early on can help set you on the right path for the rest of the year on beyond. Among the areas to be aware of this year are: Income Tax There are a few reasons why you may notice a change in your pay cheque this month. One of these reasons could be due to ...

Financial education at a young age pays off

Research has shown that teaching children about money when they are young, is likely to lead to a better understanding of savings and the ability to delay gratification in order to meet a long-term savings goal (Source: MyBnk). How does early learning help children to manage money? According to the research, seven-to-11-year olds who have received lessons in saving money and working toward long-term goals, are better able to understand financial decisions and the consequences they will have. Furthermore, many children displayed increased ability to: Delay gratification (68%) ...

First-time buyer doubts dampening spirits as two-fifths believe they won’t achieve their homeowning dreams

Almost half (48%) of people aged between 25 and 34 today who aren’t on the property ladder say they want to own their own home within the next 10 years. However, 41% think that achieving this dream is impossible. What are 25-34-year old’s expectations? Research from the Building Societies Association(BSA) shows that the number of people aged 25-34 who own their own home has dropped from 40% to 33% over the past 10 years. Looking forward, the research shows that 62% would like to own a home within the next ...

The struggle of finding the perfect home as a last-time buyer

Last-time buyers are those people looking for the home they will settle in during their retirement, and which they will potentially live out the rest of their lives in. They account for 30% of homeowners aged 65 and over. Unfortunately, research from Key Retirement has shown that many last-time buyers are struggling to find a home which matches their needs and is located in their preferred area. Why do older people want to downsize? There are several factors which may lead retirees to look for a smaller, or more ...