Spring Budget 2024: Winners and Losers
Posted by JSCFinancial on Thursday 7th of March 2024
At the latest budget which took place on the 6th March 2024, Chancellor of the Exchequer Jeremy Hunt announced the UK Spring Budget, as well as the economic and fiscal forecast by the Office of Budget Responsibility.
These legislative announcements are game-changers for Britain's economy, and Hunt’s announcements included a number of sweeping changes that could potentially affect the personal finances of everyone living and working in the United Kingdom.
In laying out the Spring Budget, Hunt reinforced the government’s dedication t...
End of the tax year checklist
Posted by JSCFinancial on Tuesday 27th of February 2024
End of the tax year checklist
As we approach the end of the tax year, it's a good time to start thinking about how to make the most of the tax reliefs and allowances you’re entitled to, before they are lost. We’ve put together a checklist to ensure you’re aware of all the ways to make sure you don’t miss out.
- Open or top up your ISA
You can hold up to £20,000 in your ISA in the 2023/2024 tax year and split the contribution, between either a Cash ISA or Stocks and Shares ISA.
- Use your pension allowance
Usually if you’re under 75 ...
Types of Mortgages: Which One is Right for You?
Posted by JSCFinancial on Wednesday 7th of February 2024
Taking the first steps to buying your first home can seem quite daunting. This article will provide clear insights into why choosing the right mortgage is extremely important for your future financial well-being.
Exploring Various Types of Mortgages
There are many different mortgages available in the UK. Each has its benefits, but choosing the right one for you and your lifestyle is crucial. You are going to be paying your loan back for many years to come, therefore, you want to ensure that you can continuously pay your mortgage off, even...
How Improving Your Credit Score May Give You a Better Mortgage Rate
Posted by JSCFinancial on Wednesday 7th of February 2024
Credit scores can affect anything from financing to phone contracts and loans. Most importantly, the better your credit score, the higher your chance of being offered a good deal for your mortgage, opening the door to significant savings.
Understanding the Basics of Credit Scores
Firstly, let's look at what a credit score is and how to find yours.
Defining Credit Scores:
A credit score is a number that is based on your financial history. It takes into account how reliable you are at paying back money and how well you have handled...
The essentials you need to know about credit checks before borrowing money
Posted by JSCFinancial on Monday 15th of January 2024
The information a lender finds during a credit check is important – it could affect whether you’re able to borrow money, including through a mortgage, and the interest rate you’re offered. Yet, they can also seem perplexing.
Indeed, a Royal London survey found that a third of Brits had never looked at their credit report.
The good news is that we can help you cut through the jargon, so you feel more confident next time you apply for a loan.
Lenders usually carry out a credit check to assess how much risk you pose
Lenders carry out a cred...
Autumn Statement - Key Highlights Blog
Posted by JSCFinancial on Thursday 23rd of November 2023
Reducing debt
- The government is reducing debt and borrowing, with borrowing forecast to be lower this year, next year, and on average over the forecast period compared to the OBR's March forecast.
- Underlying debt is also lower as a percentage of GDP, by an average of 2.1 percentage points across the forecast.
- The government is on track to meet its debt and borrowing fiscal rules with greater headroom against both rules compared to spring.
- The government has made available up to £14.1 billion for the NHS and adult social care and an add...
The 2023 Autumn Statement: Winners and Losers
Posted by JSCFinancial on Thursday 23rd of November 2023
The 2023 Autumn Statement: Winners and Losers
UK Chancellor Jeremy Hunt’s 2023 Autumn Statement outlined, in his words, “eight months of hard work” and no fewer than 110 measures to help grow the British economy. Contained within are a raft of measures set to overhaul everything from minimum wage and benefit payments to tax, business investment, and more.
The Winners
Young and low-paid staff
Although the news was released ahead of the main statement, the announcement confirmed a large-scale increase to the national living wage, br...
Should I consider private medical insurance?
Posted by JSCFinancial on Monday 13th of November 2023
Life can be full of surprises. You can’t be prepared for everything. You may have some insurance to support you financially if the unexpected happens, but have you considered how private medical insurance might offer you and your family the peace of mind you need if your health takes a turn for the worst?
A growing trend
According to data published by The Telegraph, close to half a million people have taken out private medical insurance over the past year, as NHS waiting lists hit record levels this autumn. According to government statistic...
Market downturns can be scary. If you’re worried about their impact on your wealth, find out about 3 crucial reasons for staying invested when times are tough
Posted by JSCFinancial on Wednesday 25th of October 2023
It’s been a difficult year for investors so far. Inflation and political uncertainty have led to market volatility. Market volatility can be scary, especially if the value of your investments drops, but it’s important not to let fear guide your decision about whether to stay invested in your portfolio.
Here are three reassuring reasons for staying invested in the stock market during uncertain times.
01 The best financial decisions are not based on emotion
Emotions can play a big role in your financial decision making if you aren’t vigilan...
While the cost of living crisis may be putting a strain on your finances, read why cancelling your financial protection could be a dangerous way to save money
Posted by JSCFinancial on Wednesday 25th of October 2023
Centuries ago, Benjamin Franklin announced that...
“By failing to prepare you are preparing to fail.”
This is especially true when it comes to ensuring your personal finances are protected from the rainiest of days. However, with the rising cost of living likely putting pressure on your spending, you may be considering cancelling your cover, even when this could leave you more vulnerable than before. Read on to discover some of the reasons you should consider prioritising your financial protection over other cost of living worries.
Rising...