Use it or lose it. Don’t pay more tax than you need to
The tax allowances and exemptions system in the UK is complex. Don’t miss out on what you’re entitled to. Paul Poulter walks us through several scenarios.
Do you have any money put away for a rainy day? Savings rates are currently lower than they have been historically, but this doesn’t mean it’s a bad idea to build a buffer. Many people can struggle to save with other pressures on their salary, so setting up a standing order for when you’ve just been paid into a savings account is a good idea for maintaining discipline.
Questions you can ask to get in control of your savings
- How much do you already have in savings?
- Are there any events coming up where you will need access to your savings?
- How much will you need?
- When do you need this amount?
