Here’s a guide to your annual tax allowances, including ISAs, pension contributions and gifts – and why it’s important to make the most of them.

At this time of year, one of the most beneficial things you can do for your money is to review your annual allowances. Make sure you’re using those that are available to you so you don’t pay more tax than necessary. The end of the tax year is on 5 April 2023 and it’s not possible to roll over most of these allowances to the following year, so if you don’t use them, you lose them.

Personal allowanc...

Savings

After many years of low rates, savings accounts have made a substantial comeback following a series of interest rate rises from the Bank of England throughout 2022. Yet with inflation rocketing, the value of your money is shrinking in real terms so it’s important to maximise every penny of interest in order to mitigate the impact. There are a few things you can do. For example, you could make your savings work even harder by paying more into an ISA. Investing is another route if you have longer-term goals and you don’t need to acces...

US: Mixed economic data

There wasn’t one specific thing that drove markets this week. This was mainly because, whilst there was a lot of economic data, it painted a mixed picture. There was some evidence that whilst the manufacturing sector continues to slow down, it is doing so more slowly. Meanwhile the service sector appears to still be holding up. There were also signs that home sale activity may bottom out soon.  

Japan: Supportive central bank and Chinese reopening boosts optimism

Investors welcomed an emphasis of a continuation of ...

Inflation and cost of living are two topics constantly on the tips of our tongues lately.  The Openwork Partnership have put together the below infographic to show the changes from January ’22 to January ’23.

The average British family used to be 2.4 children, these days it’s 1.7 children (and half a dog).  Whether your idea of a family is two adults and two children or just you and a dog, creating a family budget is an essential step towards managing your finances effectively.

By gathering information about your income and expenses, categorising your expenses, setting financial goals, determining your disposable income, and creating a budget plan, you can take control of your finances and achieve your financial goal.

1. Compare income and e...

US: Stickier inflation

Stocks fell sharply on signs that the inflation battle was far from over. The core personal consumption expenditures price index (excludes food and energy) jumped 0.6% in January. It’s the first time since September that inflation has picked up. Consumer expectations were revised higher to its best level in over a year, jobless claims continue falling and sales of new homes reached their highest level since March 2022. However, some retailers reported disappointing earnings and suggested some tightening in household b...

This year sees new rules from insurers that could bring you savings on your home insurance renewal.

The Financial Conduct Authority (FCA) has announced that insurers will have to offer the same deals to new customers and renewing customers for their home insurance.

Home insurance customers are particularly affected by hikes in renewals, so this is a good time to review your policy with your financial adviser.

What is buildings insurance?

Buildings insurance covers the building itself and its structure – like the roof, floors, windows ...

It’s a good question.  What does a financial adviser do?  Do you need to have significant savings in order to use one, would you be wasting their time and yours if you didn’t?  The simple answer is no, the sooner you start to understand how to look after your financial health the better. 

You don’t have to have investments in the stock market to use a financial adviser.  Here at Nigel Grice and Associates we offer a holistic approach, often guiding generations of the same family through house purchases, insurances, pensions, investments and...

US: Stickier inflation?

Consumer prices rose 0.5% in January as widely expected. Shelter prices accounted for almost half of the gain. Year-on-year inflation in the US now stands at 6.4%. Producer prices rose 0.7% in January, its biggest gain since June raising concerns that we haven’t seen the end of inflation yet. Investors are therefore worried that interest rates will need to go higher than originally expected if inflation does look to be stickier. In other news, retail sales jumped 3% in January, much more than expected. 

Japan: Econo...