The UK Government’s “Build Back Better” plan has specified that a £86,000 cap on personal care costs will be introduced in England from October 2023. These plans have divided both the media and politicians, as the Government states its goal to eradicate unlimited, unpredictable care costs – and the possibility of…
For most young people, pensions are the last thing on their minds. Your 60s and 70s seem very far away and, typically, the most pressing financial priority (if there is one) is saving for a house deposit. It may also be that young people have retired parents who live very comfortably, with a house fully paid-off…
20 years ago, most people got their news from TV, radio, newspapers and magazines. Today, the media landscape has shifted considerably. Whilst these media forms remain popular, more people are turning to social media for information – especially YouTube, Instagram and TikTok. These platforms have also…
The climate summit in Glasgow (COP 26) has drawn a lot of attention, with some lauding the pledges coming from attending nations whilst others – such as Greta Thunberg – arguing that it has been a failure. Undeniably, however, the event has increased attention in “environmental” investing (or ESG)…
Throughout your lifetime you are likely to witness many stock market crashes. Looking back at history, they have occurred an average of one or two times per decade. The latest was the 2020 COVID-19 crash. Prior to that, events included the 2018 “cryptocurrency crash”, the 2010 “flash crash”…
UK tax returns can be intimidating. Not only do they require you to disclose various, complex aspects of your finances (which you may have lost track of), but there are also extra sections to fill out depending on your income and situation. It can be hard to work up the motivation to face it, but fortunately…
The dream of living mortgage-free is a powerful one. Indeed, it is often the reason why people want to overpay on their monthly mortgage – so they can repay their loan faster. Yet is this the best way to grow your wealth and gain more financial independence? Would investing more money into shares, bonds…
The cost of university today is far from straightforward. Student loans, tuition fees, maintenance grants – the list goes on. How can students enter higher education (HE) and be confident that the finances will be viable over the next 3+ years? How can you be sure that the debt…
Various types of ISA exist today and different providers offer various rates. Whilst it is great to have choice as a consumer, this can make it difficult to find an ISA which suits your needs. In this guide, our team at Elmfield Financial Planning in Padiham, Burnley offer a summary of the main ISA types available…
It is a wonderful feeling when you finally pay off your mortgage and own your home outright. At this point, accommodation is now “free” just as life slows down for retirement. Yet this luxury is becoming harder to achieve. Property prices have continued to rise despite the pandemic – up 11% over the past year…
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