You have likely noticed that prices are going up in 2022. At some supermarkets, for instance, the cost of pasta and tinned tomatoes has risen by as much as 41% compared to a year ago. The average price for standard range spaghetti in 2021 was 51p, whilst now it stands closer to 72p. Inflation – i.e. the overall rise in prices for goods and services in an economy…
The new State Pension was introduced in April 2016, partly in an attempt to simplify the pension system (which is notoriously complex in the UK). Before that, the “old” State Pension broadly fell into two categories – the “basic” State Pension, and the “additional” State Pension. Under these rules, you could…
We have all heard of life insurance – but what about family income benefit? For those with small children or other dependents, this can be a great option to boost your financial protection should the worst happen. In this guide, our team at Elmfield (financial planners in Padiham, Burnley, Lancashire) explains how…
Many of us have been saddened and shocked by the stories coming out of Ukraine recently. At Elmfield, we hope for a swift and peaceful resolution to the conflict. As economic sanctions have been imposed by the West on Russia, global markets have been turbulent. On 24th February, for instance, as news of the invasion…
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