magazine archive
magazine archive
Personal Finance
How to become a family of millionaires
Thursday 20 Mar 2025For many families, the thought of becoming millionaires might feel like a pipe dream. However, with smart investing and a bit of discipline, it’s possible for a family of four to have reached the coveted £1 million mark in as little as 10 years. A family of four who has diligently maxed out their...
The loophole that gives your child a £36,000 tax-free allowance this year
Thursday 06 Mar 2025A quirk of the system means that families can pay £36,000 into a tax-free account for their child in one year – far exceeding the usual £9,000 annual Junior ISA limit. A clash between how the rules differ between Child Trust Funds and Junior ISAs, plus the generous £9,000 annual allowance per child...
Why making your second ISA million is 2.5 times easier than your first
Thursday 27 Feb 2025Have you ever idly wondered how much you need to save to build up a million pounds in an ISA over 25 years? In case you have, the answer is £1,433 per month, assuming you get 6% growth on your investments. That’s clearly a pretty punchy amount to be able to stash away from your monthly income, but...
Discover 10 ways to cut your tax bill before April
Thursday 20 Feb 2025There are less than two months left until the tax year ends, on 5 April. That leaves plenty of time to organise your finances to reduce your tax bill and maximise your allowances. Here’s the list of actions you can take to get shipshape before the new tax year. 1. Maximise your free money There are...
What higher bond yields mean for your personal finances
Thursday 30 Jan 2025If you picked up a newspaper in the last few weeks you probably read about the mini-meltdown in the bond market. Gilt yields, which move in the opposite direction to prices, started to rise all of a sudden, and it looked like things might spiral out of control. These yields dictate the rate of...
Four groups who should consider a Lifetime ISA
Thursday 23 Jan 2025The Treasury Committee made a recent call for evidence on the future of the Lifetime ISA, which has got everyone talking. They’re asking big questions, like whether the account needs a bit of a makeover, some tweaks, or even if it should be scrapped entirely. With more than 750,000 people putting...
Why more people are set to face a big January tax bill
Thursday 19 Dec 2024Let’s not beat around the bush, January is an awful month. You’ve just spent a packet on Christmas, your favourite clothes are inexplicably tight, and your efforts to work off a little holiday weight in the gym are hampered by everyone else trying to do exactly the same thing. It’s against this...
How to invest for children this Christmas
Thursday 12 Dec 2024Lots of parents and grandparents default to cash when saving for their children or grandchildren, but most have a very long time until they will give the money to the children, meaning investing can be a great option. If we look at someone saving £1,000 a year from birth of the child until the age...
First-time buyers risk being squeezed by Lifetime ISA limits
Thursday 28 Nov 2024First-time buyers hoping to use a Lifetime ISA to buy their first home could be squeezed out of buying a terraced house in more than 50 regions of the UK, new analysis from AJ Bell shows. The government pays a 25% bonus, up to £1,000 a year, into each Lifetime ISA account, which can then be used to...
Stamp duty changes in Budget to cost some buyers £11,250 more
Thursday 14 Nov 2024Stamp duty changes announced in the Budget mean that from April 2025 buyers will face higher costs when buying a home – with first-time buyers hit the hardest. The ending of a temporary stamp duty cut means that the tax will rise next year. This measure, originally introduced by former prime...