Understanding why we spend money is critical to managing our finances. Research shows that our emotions, social influences, and thought patterns affect our spending habits. By knowing what drives our spending, we can make better choices and develop healthier financial behaviours. So why do we spend more than we need to? Studies have shown that
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With tax reliefs and allowances constantly changing, it is essential to ensure that you are taking full advantage of them. High inflation, freezes on allowances and tax bands, and cuts to CGT and dividend allowances mean you could be feeling the pinch more than ever. You can find our complete guide here, but here are
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A recent study by the Pensions and Lifetime Savings Association (PLSA) shows that the amount of money required to have a moderate standard of living in retirement has increased significantly. The study found that the increase is 38% or £8,000 more than the previous year. This means that for 2023 to 2024, a single person
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Financial advisors who claim to be comprehensive financial planners often provide a surface level of financial planning. Financial planning requires ongoing effort and cannot be based on incomplete data. Simplified forecasts fail to provide individuals with the comprehensive plans they need. Here are seven key indicators to look out for to gauge whether a financial
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Those in control of how to extract money from their business broadly have three main options. These are to take out the money as salary, dividends, or by making employer pension contributions. When a company director wants to extract profits, they might be advised to pay themselves a minimal salary up to a certain limit
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