With £2K saved, can we buy in five years?

With £2K saved, can we buy in five years?

Published in the Telegraph on Friday 19th August 2017

Getting on the housing ladder is many young people's dream. How long will it take this couple to save, asks Sam Meadows

Despite house prices continuing to climb, Britain remains a country obsessed with home ownership.

Among many potential first-time buyers are Joseph Burrows, who works in public relations, and his girlfriend Rhianna Bowe, who is in marketing, both 24.  The pair, who live and work near Leeds, have recently started saving to buy a home.

Spring Budget 2017

Spring Budget 2017

What did it mean for your financial plans?

THE CHANCELLOR OF THE EXCHEQUER, PHILIP HAMMOND, DELIVERED HIS SPRING BUDGET TO PARLIAMENT ON 8 MARCH 2017. THIS BUDGET WAS THE LAST ONE TO TAKE PLACE IN THE SPRING. THE CHANCELLOR SAID LAST YEAR THAT HE WANTED TO SIMPLIFY THE WHOLE BUSINESS OF SETTING TAXES AND GOVERNMENT SPENDING, WHICH HAD BECOME TOO COMPLICATED

Key points from the Budget that could impact your personal financial planning

Untying the Knot

Untying the Knot

Divorcees twice as likely to have no savings

DURING A DIVORCE, SORTING OUT THE FINANCES CAN BE THE MOST DAUNTING ASPECT FOR SEPARATING COUPLES. FINANCIAL DISPUTES CAN BE A MAJOR STUMBLING BLOCK IN THE DIVORCE PROCESS AND COULD TAKE LONGER THAN THE DIVORCE ITSELF.

Looking to the Future

Looking to the Future

Cost of essentials is the most common perceived threat to over-55s

WHILE THE RISING COST OF ESSENTIALS IS THE MOST COMMON PERCEIVED THREAT TO OVER-55s’ STANDARD OF LIVING OVER THE NEXT FIVE YEARS, CONCERNS OVER FALLING RETURNS ON SAVINGS HAVE RISEN TO THE HIGHEST POINT IN ALMOST THREE YEARS, AVIVA’S LATEST REAL RETIREMENT REPORT REVEALS.

FALLING RETURNS

Don’t Miss the ISA deadline

Don’t Miss the ISA deadline

Each tax year, we are each given an annual individual savings account (ISA) allowance.

The ISA limit for 2016/17 is £15,240, rising to £20,000 in 2017/18. Anyone wishing to utilise their allowance should do so before the deadline at midnight on Wednesday 5 April 2017. The date marks the end of the 2016/17 tax year. It is a ‘use it or lose it’ allowance, meaning that if you don’t use all or part of it in one tax year, you cannot take that allowance over to the next year.

Gender Savings Gap Widens

Gender Savings Gap Widens

Report findings suggest this trend is set to continue

Half of women (52%) are now saving adequately for their retirement compared to 60% of men, according to the latest scottish widows women & retirement report. But while this maintains the record high levels achieved in 2015, the gap between men and women has widened since 2014 when 50% of women were saving adequately compared with 55% of men.

Free auto-enrolment seminar

Free auto-enrolment seminar

Fairstone Financial Management is delighted to invite you to attend a free breakfast seminar in conjunction with The Pensions Regulator, all about auto-enrolment. 

Sponsored by Fairstone, one of the UK's largest Chartered financial planning firms, this educational seminar is an opportunity to hear from The Pensions Regulator about your auto-enrolment obligations.

The seminar will arm you everything you need to ensure that you out in place a compliant workplace pension scheme by your business' staging date.

Agenda: 

9.00am - Registration and refreshments

Workers should double their pension savings, says Labour's review

Workers should double their pension savings, says Labour's review

Workers should double the amount they are saving into their occupational pension schemes, a two-year review for the Labour Party has concluded.

The Independent Review of Retirement Income (IRRI) suggests the target for savings should be 15% of salary.

That is a considerably higher level than has been suggested previously.

At the moment the average worker puts just 4.7% of pay into a pension - with most employers making a further contribution of less than 4%.