Many of us worry about bills, and the recent increases in the cost of living have made covering these costs even more of a challenge. Sometimes, we may decide that loans are necessary to get us through the toughest months. However, it is important to borrow responsibly, as the world of money lending can be a dangerous one. As much as we like to think that people are happy to help each other, there are people who prey on the vulnerable. They may offer to cover the costs of your bills, only to demand you pay them back with interest. A failure to pay them back may result in threats. …
Everything You Need to Know About Ordinary Power of Attorney
When it becomes difficult for a loved one to make decisions for themselves or their affairs, either temporarily or permanently, a power of attorney can be put in place to guarantee their finances and health, among other assets, are well looked after. Power will normally be delegated to a family member, friend, or even a solicitor. Anyone can be selected as long as they are over the age of 18. There are multiple forms of power of attorney. In this article, we will be looking at an ordinary power of attorney. However, you can find out more about the other types by reading Plan …
Best Value Groceries: Where Should You Be Shopping?
We're all feeling the impacts of the cost-of-living crisis. Amongst the bills that are going up are our food bills. As a result, many of us will be wondering how we can make savings or whether we need to be changing where we shop. To help you decide where you should do your food shopping, here's how to find the best value groceries. Why is Food Getting More Expensive? Several factors are coming together to drive up food prices in the UK, which are, naturally, making that food bill higher every week. Energy costs, the war in Ukraine, and fallout from Covid-19 lockdowns are just …
Recession Explained: Is Your Pension Secure?
The Bank of England has warned that the UK will fall into recession this year. Knowing this, many people are likely to be worried about what this means for their finances. For people who have retired, especially, the current financial crisis is a major source of anxiety. However, often it is the uncertainty that leaves our loved ones most concerned. To help alleviate some of these worries, we are looking at what the recession means for you and your loved ones. What is a Recession? Most of the time, the country's economy is in a state of growth. This means that, generally, there …
Inheritance Tax: What You Need to Know
Many of us think that Inheritance Tax won't affect us. We assume that when our loved one passes away, their entire estate and assets will be passed down to the named beneficiaries. However, if the estate meets the Inheritance Tax threshold, a fee is taken by the government before the estate can be distributed. What is Inheritance Tax? Inheritance Tax is a fee that is taken from an estate when somebody passes away. However, there is a valuation threshold that must be reached before the tax is charged. If the value of the assets and estate being passed down do not exceed £325,000, …
How to Reduce your Bills
Many elderly people find themselves on a fixed income in later life. For most, this comes in the form of a pension or benefits. Unfortunately, this can make it difficult to keep up with ever-rising bills and payments, especially now. Elderly people can also find themselves with health issues which in turn can be costly, and make it even more difficult to save money. Even if your loved one is living comfortably and has some extra cash to spare, it's never a bad idea to try and reduce their bills. This can help save up more cash for a rainy day or special occasion. A study by Age UK …
