Salary Allocation & Personal Pensions
Rethinking Financial Allocation Across Life’s Stages Financial allocation is a cornerstone of effective financial management, crucial for achieving both short-term needs and long-term goals. While most individuals carefully divide their monthly earnings to cover essential expenses, savings, and discretionary spending, pension planning often needs to be more flexible and isolated from these dynamic allocation strategies. […]
Use it or Lose it – Getting the most out of Personal Allowances
In the complex financial planning landscape, understanding and utilising personal allowances in the UK is crucial for anyone aiming to minimise their tax liabilities while maximising their financial benefits. Governed by a strict “use it or lose it” policy, these allowances offer a window of opportunity for savvy financial management. However, without a proper grasp […]
Understanding Personal Allowance: What It Means for Your Finances
In the maze of UK taxation, personal allowance stands out as a beacon for taxpayers, offering relief from the tax burden on their income. This concept, crucial yet often overlooked, forms the foundation of effective financial planning. Understanding your personal allowance not only aids in managing your taxes but also plays a pivotal role in […]
How to Accelerate Pension Contributions Before Retirement
Understanding the Pension Landscape The State Pension: Foundation of Retirement Income The State Pension provides a basic level of income for individuals who have paid or been credited with National Insurance contributions upon reaching the State Pension age. As of 2024, understanding precisely how much you are projected to receive, and when, is critical. Many […]
Understanding Your ISA Allowance
The Basics of ISA Allowance The ISA allowance is a generous tax break offered by the UK government, allowing individuals to invest or save money without paying tax on the interest, dividends, or capital gains. As of the 2024/2025 tax year, the exact amount of the ISA allowance can significantly impact your investment strategy. It’s […]
17 Tips for Building an Emergency Fund
A personal emergency fund plays a crucial role in personal finance. At Haven Financial Planning Ltd, we advocate the importance of being financially equipped for emergencies. Our extensive experience advising clients in Altrincham and the surrounding areas underscores our belief in the necessity of a solid emergency fund. Here, we share our expert guidance to […]
Understanding UK Mortgage Rates
Mortgage rates are a pivotal factor in the home-buying process, influencing not just the monthly payments but also the overall affordability of a property. This guide offers an in-depth exploration of mortgage rates, with a specific focus on the UK market. We’ll compare rates globally, discuss the current state of UK mortgage rates, delve into […]
Financial Planning for Unexpected Life Events
Life, in all its unpredictability, often throws curveballs that can have significant financial implications. Whether it’s a sudden job loss, an unforeseen medical emergency, or any other unexpected life event, the financial repercussions can be substantial. With advice from our team, we’ll delve into the importance of financial planning for these unforeseen circumstances, exploring strategies […]
Financial Advice On Offer To Teenagers
BBC News – 11 Jun 2019 How much did you know about your money when you were in school? These teenagers are learning about how to better manage their finances. The course which is aimed at 15 to 25-year-olds is run by the Heracles Foundation. Advice NI, a debt advice organisation, says knowing more about […]
Two in Five People ‘Don’t Know How to Access Financial Advice’
Cover Magazine – 11 Jun 2019, by Sophie King. Quote from Openwork. Almost two-thirds of women do not know where to go for financial advice, survey finds. Two-in-five (43%) UK adults do not know how to access financial advice, with women more likely than men to not know where to go. The Consumer Intelligence surveyed 1,014 […]