The cost of living crisis is giving scammers more opportunities. Here are 3 scams to watch out for Lifestyle 18/11/2022 Scammers are taking advantage of financial worries as the cost of living rises. It’s more important than ever that you remain alert to potential fraud. According to Citizens Advice, scammers have targeted more than three-quarters of adults this year – a 14% increase when compared to this time last year. The Financial Conduct Authority (FCA) also warned that financial crime is to become “even more prolific” due to rising costs, MoneyAge reports. Fraudsters are adept at using circumstances to make you more likely to overlook red flags. From offering “guaranteed high-return investments” when investors are worried about getting the most out of their money, to taking advantage of Covid concerns to charge for fake tests during the pandemic, scams evolve to prey on vulnerabilities. Now, some criminals are using cost of living concerns to scam more people.
How to deal with political uncertainty when making financial decisions Lifestyle 04/11/2022 British politics over the last few months has certainly been turbulent. In the last four months, there have been three prime ministers, four chancellors, and countless U-turns. So, it’s not surprising that households have been struggling to keep up with what’s happening and what it means for their finances. Less than three years after a landslide victory, former prime minister Boris Johnson resigned after a mass resignation of ministers in his government. The contest for Conservative leadership saw Liz Truss named prime minister, but her tenure lasted less than two months – making her the shortest-serving prime minister in 300 years of British history. While short, Truss’s tenure was eventful, including presiding over a national mourning period for Queen Elizabeth II. Announcing she wanted to “hit the ground running”, Truss and former chancellor Kwasi Kwarteng announced a mini-Budget, but the effects were anything but mini. The controversial and aggressive tax cuts they announced led to market volatility.
Guide: 12 of the best Christmas markets to enjoy in the UK and Europe in 2022 Guides 31/10/2022 If you want some festive cheer, a Christmas market is perfect. From stalls filled with seasonal treats to entertainment like carol singers, they can really put you in the mood for the holidays. Whether you want to visit an event locally or combine it with a weekend away in Europe, there are hundreds of Christmas markets to choose from. Download our latest guide to discover some of the best Christmas markets to visit this year and what sets them apart. From the St Nicholas Fair in picturesque York to Strasbourg France, which is dubbed the “Capital of Christmas”, there’s something for everyone.
Guide: Financial wellbeing: 6 ways to help you make better financial decisions Guides 18/10/2022 Humans are hard-wired to make poor financial decisions. It’s just in our DNA. Financial wellbeing is a broad topic, covering all aspects of the relationship between money and our long-term happiness. It covers a wide variety of subjects, including how to manage money better, and how to use money to generate wellbeing. In some ways, financial wellbeing is about getting out of the bad habits we have acquired by linking money with success. If you want to improve how you make financial decisions, this guide covers six steps to take: Understanding why you are bad with money Understand the sources of wellbeing Identify your objectives Don’t be a financial wellbeing junkie Connect with your future self How to give. Download your copy of “Financial wellbeing: 6 ways to help you make better financial decisions” to learn more.
Before you increase pension withdrawals as the cost of living rises, here’s what you need to consider Lifestyle 14/10/2022 As the cost of living rises, you may be considering increasing how much you withdraw from your pension. While it could solve short-term challenges, it’s important that you think about how it could affect your future too. Several factors, including the war in Ukraine and the long-term effects of the pandemic, mean that inflation is much higher than it has been in recent decades. In the 12 months to August 2022, the rate of inflation was 9.9%. Your regular outgoings are likely to have increased, as well as the cost of discretionary spending, like holidays or days out. As a result, the budget you set out when you initially retired may not be adequate now. If you’re struggling financially or are having to make lifestyle compromises, increasing your pension income may seem like a simple solution. Data published in FTAdviser suggests that pension savers would need an extra £90,000 to maintain their standard of living because of rising costs.
