On your radar – key personal finance tips
Taking the time to tune in to a few key pointers can really benefit your finances, helping you plan and manage them effectively.
SAVE INTO YOUR ISA
The ISA allowance for 2019-20 is £20,000. Don’t miss this opportunity to save or invest tax-efficiently. We can help you choose the right ISA for your needs.
KEEP TABS ON YOUR PENSIONS
If you’ve moved jobs a few times, it’s likely you’ve paid into several pensions. It’s important to know what your entitlements are; we can advise you whether you’d be better off consolidating them.
YOUR STATE PENSION AGE AND ENTITLEMENT
If you’re not sure when you’ll receive yours, you can check the date and get a forecast of the amount you’ll receive on the government’s website https://www.gov.uk/check-state-pension
YOUR HOME CONTENTS POLICY – DON’T RISK BEING UNDERINSURED
If you don’t insure your possessions for the right amount and you make a claim you could find your insurance company reduce your payout. It may be time to increase your sum insured in line with the value of your contents.
YOUR MORTGAGE RATE OF INTEREST
With the monthly mortgage repayment often a family’s largest outgoing, it’s important to review your mortgage, as there may be a better deal to be had by remortgaging, especially if you’re currently paying interest at your lender’s standard variable rate.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.