Personal Finance

What would 30% flat rate pension tax relief mean for YOUR retirement fund?

Tom Selby, of AJ Bell, explains whether a shake-up is likely under Labour and how it might affect pension savers.

What to Do When You Have More Retirement Income Than You Need

These three options can help you allocate extra income in ways that don’t push you into a higher tax bracket or trigger extra taxes.

Your food is more expensive – is it driven by US corporate profits?

As inflation shot to its peak around mid-2022, Chipotle’s prices also rose, pushing up what customers paid for burritos and bowls by as much as several dollars. Since then, the fast casual restaurant’s costs have broadly fallen. Prices have not. Chipotle’s decision to maintain high prices helped boost profits 110% in recent years, while its executives boasted to investors that they raised prices higher than inflationary costs. Chipotle’s...

What next for the Lloyds share price, after a 25% climb in 2024?

First-half results didn't do much to help the Lloyds Bank share price. What might the rest of the year and beyond have in store? The post What next for the Lloyds share price, after a 25% climb in 2024? appeared first on The Motley Fool UK.

What business expenses can self-employed people write off against tax? HEATHER ROGERS explains

All tax practitioners have at some point had a client who happily asserts that someone they know claims 'everything', and then had the unenviable task of putting the increasingly crestfallen client straight.

Money can really buy you happiness, especially if you’re a billionaire

Money can really buy you happiness, especially if you’re a billionaire - Researchers find that a correlation between money and happiness extended to people making at least $500,000 a year

Starmer accused of U-turning on pledge to scrap his own pension tax perk

Sir Keir Starmer has been accused by the Tories of performing a U-turn on a pledge to scrap a “special tax perk” he enjoyed on his pension. The Prime Minister has his own law, from his time as Director of Public Prosecutions, which exempted him from the £1 million lifetime allowance. He had pledged to repeal the law as part of plans to reinstate th...

When will you retire? The dream age is 62 - but reality is grim for many savers

An additional 1.2million adults are now NOT on track for even a basic standard of living in retirement compared with last year, according to the Scottish Widows study.

Why You Always Feel Broke

Go to https://buyraycon.com/wisecrack for 15% off your order. Brought to you by Raycon. When Being Broke's the New Normal It's no secret that life has gotten unreasonably expensive for a lot of people. But why do we all feel so broke? Is it a matter of lousy personal finances, or is something bigger going on? Let's find out in this video: Why We Always Feel Broke. Support us on Patreon! ► https://www.patreon.com/wisecrack Join this channel to get access to perks ► https://www.youtube.com/channel/UC6-ymYjG0SU0jUWnWh9ZzEQ/join === Watch More Episodes! === How Neoliberalism Became Culture ► https://youtu.be/McLzXahGriY Child Labor: It's Back! ► https://youtu.be/aFjoraev49g How Work Controls You ► https://youtu.be/-nk5l6-M6vY Written by Amanda Scherker Researched by Corrigan Vaughan Hosted by Helen Floersh Directed by Michael Luxemburg Edited by Andrew Nishimura Produced by Olivia Redden Music courtesy of Epidemic Sound #Lifestylecreep #Culture #Wisecrack © 2023 Wisecrack / Omnia Media, In

The simple ways to save money on airport car parking – and the cheapest places to park

Research carried out by Telegraph Travel has shown airport parking can end up costing you more than your flight. With the cost of leaving your vehicle for a week exceeding £120 at half of the airports we surveyed, it’s important to be sure that you not only get the best price, but make sure your car is left in safe hands. Here are four key points t...

Four things you must do before you go on holiday to save money on bills

Energy bills are at their lowest since 2022 - however, they are still much more expensive than they once were - here are just a few things you should check to help save you money before leaving your home for your holiday

How much are student loans, when do you start paying back and what is the interest?

Basically, student finance is a government-financed loan that covers university students' tuition fees and living costs for the duration of their study.

Trump's Dollar Rhetoric Diminishing, Says HSBC's Maher

HSBC Head of Research in Americas and FX Strategy Daragh Maher says that former US President Donald Trump's dollar rhetoric is diminishing adding that this week witnessed an exaggerated response in the currency market. He spoke with Dani Burger on Bloomberg Brief.

The Power of Merchandise

With great merchandise comes great power - in everything from politics to sprits.

Petrol stations ‘rip off’ drivers by £1.6bn with supermarkets worst offenders

Petrol stations have been branded “outrageous” after overcharging motorists by £1.6bn last year. The Competition and Markets Authority (CMA) found that petrol stations’ fuel margins – the difference between what a retailer pays for its fuel and what price it sells it at – remain significantly above pre-pandemic levels. The regulator said the price ...

Four Ways to Give Money Tax-Free to Your Kids When You Die

If you’d prefer that your estate not pay more taxes than necessary, then these strategies are for you.

Bank of England Governor Andrew Bailey may hold key to decision on rate cut

The nine-person Monetary Policy Committee will meet on Thursday to vote whether or not to cut for the first time in four years.

If I put £20k into a FTSE 100 tracker fund, I’d get this as a second income

A lot of UK investors have money in Footsie trackers. Here, Ben McPoland explores how big a second income he could earn from one. The post If I put £20k into a FTSE 100 tracker fund, I’d get this as a second income appeared first on The Motley Fool UK.

'Get Rich Slow': From Earning $5/HR To Owning 300 Rentals, Here Are 3 Questions She Asks Before Investing In A Property

Fueled by a desire to secure a brighter future for her family, Anne Curry, who began working as a preschool teacher earning $5 an hour, has transformed into a successful real estate investor. Now, her portfolio boasts 300 units and 12 apartment buildings scattered across Washington and Arizona. In a recent interview with GOBankingRates, Curry share...

I saved £30,000 in 2 years - all while working a minimum wage job

I set myself a goal of becoming a millionaire in 10 years.

Millions of UK public sector workers set for above-inflation pay rise

Millions of public sector workers are set for an above-inflation pay rise due to be announced by Rachel Reeves next week after more than a decade of austerity. The chancellor is expected to accept the recommendations of public sector pay bodies for pay rises on Monday – a move economists believe could cost up to £10bn. The NHS and teaching pay bodies are reported to have recommended a 5.5% rise, and similar advice is likely to have been given by...

7 ways to know you’re financially thriving (despite how it might feel)

Retirement crisis as mortgage option could see over 500,000 Britons trapped in deals past state pension age

More homeowners are now choosing to lengthen their mortgage terms to reduce their monthly payments, but this can have crippling effects on their retirement. More than half a million retirees across the country have still not paid off their mortgages, according to new research. Over 500,000 older people may still be burdened with paying monthly mort...

Analysts rate Legal & General shares as either a 'hold' or a 'buy'

The £13.69billion FTSE 100 company, which takes care of £1trillion worth of retirement and other savings, is being revamped under chief executive Antonio Simoes.

Regulator sets out new rules to boost UK capital markets

The UK’s financial regulator has proposed new rules aimed at making it cheaper and easier for companies to raise money, the latest in an ongoing programme of reform intended to boost Britain’s capital markets. The proposals announced on Friday by the Financial Conduct Authority included lifting the threshold at which companies need to issue prospectuses for secondary fundraisings from 20 per cent of their issued share capital to 75 per cent....

What’s the minimum I need to invest every month to earn a meaningful passive income?

When looking to secure a stream of passive income it's important to be realistic. Our writer investigates a strategy to aim for £1,000 a month. The post What’s the minimum I need to invest every month to earn a meaningful passive income? appeared first on The Motley Fool UK.

With trials pushed back, Trump sees first big dip in legal bills

WASHINGTON (AP) — As former President Donald Trump faces a supercharged Democratic fundraising effort, a persistent drag on his campaign’s coffers may be easing: legal expenses. A new report shows that the Save America political action committee paid about $827,000 in June for Trump's legal bills — the first time a monthly total has dipped below $1 million in two years. The Trump-aligned PAC has shelled out an average of nearly $4 million a...

I'm about to inherit £200,000, what should I do with it?

In a few months I'm due an inheritance of £200,000 from my dad's estate and I have no idea what to do with it.

Bank of England threatens curbs on use of 'funded reinsurance'

By Huw Jones and Carolyn Cohn LONDON (Reuters) - Britain's insurers could face curbs on how they undertake acquisitions of certain pension schemes unless they manage risks better, the Bank of England said on Friday. Large UK insurers such as Legal & General, Aviva and Phoenix have cashed in on demand for bulk annuities, insurance for defined benefit, or final salary pension schemes. In a fast

How to buy the freehold of a leasehold – and how much it costs

Even if you’ve bought your property and have become its legal owner, you might only own the bricks and mortar, not the land it’s built on. Most flats in England and Wales are sold on this leasehold basis, but until a change of rules in 2019, many new build houses were sold in this way too. For some homeowners, the arrangement isn’t ideal – you don’...

‘Why is it so hard to spend a £10 note in central London?’

I have a confession to make. Despite writing regularly about how important cash is for many, I rarely use notes and coins. I’ve become so accustomed to paying by card or my phone app, I don’t even carry “emergency” cash with me. My idea of an emergency backstop is the debit card buried somewhere at the bottom of my bag. I’m certainly not alone in t...

Interest Rates Surge: The Looming Decrease in Wages and Scarcity of Jobs in the UK

Interest rates are impacting all sectors, and as a result, wages might decrease soon. At the same time, job seekers may notice jobs becoming all the more scarce. Here are some of the challenges the UK faces. Defining Economic Inactivity The Office for National Statistics defines economic inactivity as unemployed people who have not managed ... Read more

9 Old Money Style Essentials (Wardrobe Classics Every Man NEEDS To Own)

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Britain sets out next leg of post-Brexit City shake-up

By Huw Jones LONDON (Reuters) -Britain set out on Friday the next leg of its post-Brexit shake up of the City in a bid to attract more investment to a cash-strapped economy by making it cheaper and easier for companies to tap shareholder funds. Britain has already begun easing its financial rules under the "Edinburgh Reforms" to compete better with New York, and with European Union financial

Foreign investor that loaded Thames Water with debt takes control of UK gas network

The former owner of Thames Water is to take full control of Britain’s gas network in a £700m deal. Australian investment giant Macquarie is to buy the 20pc of Britain’s National Gas that it does not already own, handing it full control of a piece of critical national infrastructure. Macquarie is best known in the UK for buying Thames Water in 2006 ...

Archaeologists hunting £15billion treasure find axe - first evidence it exists

Amateur archaeologists hunting an undiscovered treasure trove said to be worth £15billion say they have discovered the first evidence it exists - an ancient axe. The discovery of a 10th century weapon is said to "very strongly support" the possibility that the fabled 'Lemminkäinen Temple', and the priceless hoard it is thought to contain, is real.

The annual salary you need to earn to be in the top 1% in every US state

Pensioners face shock tax bills within weeks

Some 140,000 pensioners will be hit with tax bills in the next six weeks as a stealth raid on retirement incomes bites. HM Revenue & Customs (HMRC) is issuing issue tax demands to pensioners whose income exceeds the £12,570 personal allowance threshold which has been frozen until 2027-28. It will be the first time these pensioners have received a t...

British Gas owner racks up 1.4m complaints as profits hit £1bn

British Gas received 1.4m complaints from angry billpayers over the past 18 months, new figures show, as concerns over the energy giant’s customer service rumble on. The backlash against the gas and electricity supplier emerged as part of its latest results, which revealed half-year profits of more than £1bn for its parent company Centrica. It gene...

The median wealth per adult in European countries (Spain does not fare badly)

On this map, we can see how much personal wealth the average European adult has. Wealth is shown in US Dollars and includes both financial and non-financial wealth. Non-financial wealth mostly consists of land and real estate. The reason this map shows the median and not the average is that an average is usually skewed by the extremely wealthy. This results is an amount that is far higher than the wealth of most adults. In the case of the...

Infected blood victims’ families can apply for £100k compensation from October

Infected blood victims’ families can apply for £100k compensation from October - As of June 30, interim payments of more than £1 billion have been made to patients infected with contaminated blood products, and bereaved partners.

Cash stuffing: how this viral budgeting method works

If you have been anywhere near social media sites like TikTok or Instagram (and even if you haven’t), you may well have heard of a budgeting technique called “cash stuffing”. With the past few years categorised by a cost of living crisis and squeezed salaries, it is no surprise that people across the country are keen to find ways to save money. One...

I Looked Through 10,000 Coins, Here's What I Found

this is not financial advice

UK shares: a once-in-a-decade chance to bag sky-high passive income

The FTSE 250 is offering up incredible passive income opportunities right now. Our writer takes a look at one stock carrying a double-digit yield. The post UK shares: a once-in-a-decade chance to bag sky-high passive income appeared first on The Motley Fool UK.

Seven banks share data with UK law enforcement in 'dirty money' crackdown

By Kirstin Ridley and Sinead Cruise LONDON (Reuters) - Barclays, NatWest and Lloyds are among seven banks to share customer data with the National Crime Agency (NCA) in the largest project of its kind worldwide to tackle criminal gangs, money laundering and "dirty money" flowing through the country. Reuters revealed one year ago that more than six banks, including NatWest and Lloyds, were part

UK ticket-holder wins EuroMillions jackpot

A single UK ticket-holder has won the £24m EuroMillions jackpot in Friday's lottery draw.

As the NatWest share price jumps 7% on H1 results, here’s what you need to know

The NatWest share price had already reached a 52-week high before Friday's H1 results report. And it's now set a new one. The post As the NatWest share price jumps 7% on H1 results, here’s what you need to know appeared first on The Motley Fool UK.

‘Deadpool & Wolverine’ is already breaking box office records, with more possible soon

‘Deadpool & Wolverine’ is already breaking box office records, with more possible soon - “Deadpool & Wolverine” has gotten off to a supercharged start at the box office, breaking the Thursday preview record for an R-rated movie

From joint accounts to wealthier friends – why is money so hard to talk about?

The one item you will never see in a currency exchange table is what money so often stands in for. It can take the place of things like love, thought, safety, attention or fairness. And the inverse is also true; you often don’t need to spend a lot of money to make someone feel loved, or cared for. Ask any parent who has been the recipient of a homemade birthday card or present. When I speak to divorce lawyers and mediators, they say that money...

You'll soon be able to buy restaurant reservations in London — but at what cost?

You'll soon be able to buy restaurant reservations in London — but at what cost? - A new app could get you a table at a fully booked spot, says Joanna Taylor