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Author: Johnathan

Saving money in 2021

Posted on by Johnathan
We all need to save money for that rainy day, but here are a couple of tips that you may have overlooked. Cancel automatic subscription accounts We all have monthly subscriptions to various things in the digital age, but do you really need them?  Evaluate what you are subscribed to and remove the redundant ones. You will be surprised what you save. Try a shopping savings extension/app If you shop online a lot, why not download a savings app like Honey.  They search the internet for codes people have used on their shopping to see if it applies to yours. It’s a quick and easy way of saving money on things you already buy. Do you watch all those channels? If you have something like Sky, chances are you are...
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Things You Should Know About Investing

Posted on by Johnathan
Investing your money can be one way to help you increase your income over a short- or long-term period, but you must be careful and understand the risks. • Investing will always be a gamble. There are always going to be risks • Investing in the stock market is basically buying a tiny part of a company that will hopefully profit and you can sell for more later • There is no guarantee you will make money, you could potentially lose it • If you want a bigger return, you often have to take bigger risk • Do not put all the money you want to invest, into one place, try a bit of diversity • Only invest what you can afford to lose • It is recommended to invest...
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Five Reasons Budgets Are So Important

Posted on by Johnathan
You simply cannot underestimate the importance of creating and sticking to a budget. There are so many benefits to ensuring your financial security, even though it may be difficult, it is definitely worth it. Five Important Reasons for Keeping to Budget 1. Creating a budget helps you to determine what your long-term goals are and ensures you are able to plan towards working up to them instead of ‘just getting by’. 2. Sticking to the budget ensures you do not spend money you do not have. This is critical! Credit cards are a big NO-NO! 3. Budgeting helps you plan for a happier retirement, by putting aside money for the future. Upon retirement you will be able to live more comfortably, not be forced to work longer than you would...
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Tips on Taking Out a Personal Loan

Posted on by Johnathan
At some point in your adult life you will most likely need to take out a personal loan. Personal loans are typically used to finance some sort of purchase or used for debt consolidation. Avoiding these common pitfalls can help ensure your loan does not do you more harm than good: • Do not take the first loan offered to you. Shop around and try to get the best terms, at the most competitive rates. Once you have received a offer that looks great, it can be helpful to go through it with someone else that can help you see hidden terms or clauses. • Do not agree to unachievable repayments! You need to take your time and ensure you can easily pay the amount agreed upon, so as not...
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Lifetime ISA or Help to buy ISA?

Posted on by Johnathan
If you are thinking about saving to buy your first home, it is important that you save efficiently and smartly in order to get the best benefits and interest overall. The two most popular saving accounts for those looking for a first time property is either the Help to buy ISA or the Lifetime ISA The Help to buy ISA has no penalty for withdrawal, but you simply do not get the bonus. You are also able to use it after 3 months of opening it, should you be at your maximum savings. The government will contribute a maximum of £600 per year depending on your savings with an absolute bonus of £3000. The Lifetime ISA the government can give you £1000 per year but cannot be used within a...
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