The rate we are saving within the UK is at it’s lowest ever since records begun.

A recent report from the Office for National Statistics has warned that the savings ratio – which measures how much of their disposable income households put into savings accounts or pensions – fell below 2 per cent for the first time since records began in 1963.

The ratio was down to 1.7 per cent in the first quarter of this year from 3.3 per cent in the final three months of last year.

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Is it worth transferring your ISA?

As with all investments it is always worth keeping an eye out for good deals and changing providers can sometimes either save you money or improve your financial returns. And an ISA is good example for that. But you must understand the rules so that you do not get charged or miss out on the tax free elements.

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The Election 2017 : What will it mean for your money?

Another year, another important vote.  As a country, after Brexit last year and the previous general election only being in 2015, this will be the third year we have been asked to make an important decision about the future of the UK.

The headlines and hype around the campaigns can easily put you off with each media outlet having it’s own agenda. But this election in real terms, could have a powerful impact on your daily finances as it could directly affect you and the money in your pocket.

So what are the pledges and manifestos of each party across the financial matters? Read more

How have the Equity Release offerings changed and is it for you?

The main aim of equity release is to give you greater financial freedom when you are older by freeing up some of the financial value of your home and give you cash to spend while you are still fit and well.

However, over the years, it has received some negative publicity, with many stories about the elderly being ripped off and providers hiding the real cost of equity release.

But it would seem that these types of financial plans are growing ever more popular with a record £1.24 billion of housing wealth being unlocked via equity release schemes in the second half of 2016, with total lending for the year reaching £2.15 billion. This made this market the fasting growing mortgage segment last year.

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How you can take advantage of the loophole around the Junior ISA!

Under-18s born on or after 3 January 2011, or before September 2002, qualify for a Junior ISA (JISA), which means they can save or invest up to £4, 128 in the 2017/2018 tax year. The youngsters can put as little or as much of the £4,128 allowance as they wish into a JISA.

However, on top of this, an adult cash ISA can be opened from the age of 16 with an annual allowance of £20,000, and currently there are no rules against having taking up both – meaning that between the ages of 16 and 17 they get two ISA allowances totaling £24,128.

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After each Budget announcement,  it would seem that it is getting harder and harder for investors to find ways of saving and investing tax-efficiently. Just recently the pension’s lifetime allowance, which was at one point as high as £1.8m, fell to £1m, and the pension’s annual allowance has now been scaled back to £40,000, or, for some higher earners, even is as low as £10,000.

So what can you do? One suggestion would be to maximise on the ISA  – or the annual individual savings accounts. Read more

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