With inflation running at 9% (the highest since 1982), many people are wondering how to keep their savings growing, in real terms. Interest rates from regular accounts rarely beat 1%, so a 9% inflation rate could represent more than 8% loss – even if your bank statement says you have earned more interest…
The Bank of England (BoE) has raised the base rate four times in six months. With inflation now standing at 9%, some analysts believe further rises may be on the horizon. Rising interest rates have multiple effects on the economy and household finances. However, they can also have an impact on stock markets…
Households are facing increasing pressure from the rising cost of gas and electricity. In 2021, the average annual gas bill was £575 (£47.92 per month) and electricity was £764 per year (consumption of 3,600 kWh/year) – bringing the total to £1,339. At the time of writing in June 2022, however, the energy price…
Some recent headlines have argued that public sector pensions (civil servants, doctors etc.) offer the best deal. Yet is this truly the case? This is important to address, as it may affect your future career choices. Below, our team at Elmfield Financial Planning in Padiham, Burnley, puts forward some…
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