Financial news

• Rachel Reeves warned over 'market meltdown' as Labour plots huge change to pensions

  22-10-2024 23:48 via express.co.uk
  
  Plans to invest pension savings in high-growth assets could endanger the UK's financial stability, warned the IMF
  
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• Now Rachel Reeves will tax your pension twice in new Budget inheritance grab

  22-10-2024 19:37 via express.co.uk
  
  It seems that taxing our pensions once isn't enough for Labour chancellor Rachael Reeves. Under new Budget proposals, she'll tax them twice.
  
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• ‘I set money aside to treat myself’: how saving for a sunny day can boost your life satisfaction

  22-10-2024 17:35 via theguardian.com
  
  You don’t need to save a lot to start feeling the benefits, and just adding small amounts to your reserve regularly can help you rein in your spendingWe often talk about the idea of saving for a rainy day – the thinking being that if your boiler packs up or your roof springs a leak, you have money set aside to deal with the problem. While this type of saving is a very good thing, it’s also quite a negative way of looking at putting money away. So how about framing it more posit
  
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• ‘Save a little, when you can’: does putting money aside for something special help you recapture some of the magic of childhood?

  22-10-2024 17:34 via theguardian.com
  
  If you’re in a position to make saving a regular habit, you can ease financial stress and enjoy the occasional feel-good rewardWhen you look back on your childhood, it can often seem like a golden age – hazy sunshine and happiness, a kind of endless summer’s day. As children, many of us had few responsibilities, and very little to worry about – and a big factor in this was money. We had no bills, no credit cards, no mortgages and no dependents. Many of us will have been f
  
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• Can’t get no gratification? How to strike a balance between saving and spending

  22-10-2024 17:34 via theguardian.com
  There’s always something to tempt us into parting with our money, but by adopting ‘semi-delayed gratification’ you can enjoy the best of both worldsFrom TV streaming services to online shopping to food delivery apps, instant gratification is a huge part of modern life. If we want it, it’s only a click away and getting it feels good. But instant gratification can be ruinously expensive, highly addictive and stop us from achieving our long-term financial goals.“Smartp
  
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• ‘This is a gift I’ve given myself’: savers share the joys of putting money away for a sunny day

  22-10-2024 17:32 via theguardian.com
  
  Don’t only save for the ‘just in case’ – you can create lasting memories by investing in an experience of a lifetimeWhen it comes to money, if you’ve been taught anything while growing up, it’s the importance of saving “just in case”.“Just in case of an emergency …”, “just in case you need to repair the car …”, “just in case the boiler packs up …” – not exactly inspirational or exciting
  
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• People under 40 in the UK: have you been off work due to long-term sickness?

  22-10-2024 15:15 via theguardian.com
  
  We’d like to hear from young people in the UK who have been off work due to long-term sickness, and from businesses employing such workersOver the last four years, there has been a large increase in spending on working-age health-related benefits in the UK, from £36bn in 2019–20 to £48bn in 2023–24, with the Office for Budget Responsibility (OBR) expecting this spending to increase further to £63bn in 2028–29.According to the Institute for Fiscal Studies
  
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• ‘I wanted both sides of the business to be as intimate as being in bed’: tech entrepreneur William Reeve

  22-10-2024 15:00 via theguardian.com
  
  The co-founder of Secret Escapes and LoveFilm is now offering tech solutions to help out tenants and landlordsWilliam Reeve is what he terms a “classic accidental landlord”. The serial entrepreneur didn’t intend to rent out his flat in central London, but had to give it up soon after gaining his first rung on the property ladder. “I got married while I was there and, much as I thought it was the perfect place, it turns out that some compromise was required,” he says
  
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• Millions of workers could be missing out on more than £10,000 each

  22-10-2024 14:46 via express.co.uk
  
  There are lost 'pots' of cash across the UK, with one in 10 employees fearing they may have forgotten about theirs.
  
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• Expert shares supermarket hack to save up to £260 a year without spending a penny

  22-10-2024 14:43 via express.co.uk
  
  With the cost of living crisis still going strong, one expert has shared some of the bills you could be reducing without having to cut down on spending
  
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• DWP to send Winter Fuel Payment letters to 12 million people

  22-10-2024 13:18 via express.co.uk
  
  The DWP has confirmed that 12.7 million people will be informed about the new Winter Fuel Payment eligibility rules by the end of next month
  
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• DWP says one benefit is 'safe' from bank account checks

  22-10-2024 12:47 via express.co.uk
  
  The Labour government will hand new powers to the DWP to help prevent benefits fraudsters.
  
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• Labour gave us Sure Start to tackle child poverty. Now it should hike tax to keep it | Polly Toynbee

  22-10-2024 09:00 via theguardian.com
  
  The Tories put British children’s prospects of escaping a poor background into reverse. This is Labour’s chance to fix thatAs the budget approaches, outrage from the Tories and their media outriders at any mention of proposed tax rises is reaching boiling point. Never a word of what they would do about collapsing public services. Misleading claims about what the well-off pay already (no, the top 1% doesn’t pay a third of all tax) and harangues about tax at its highest since the
  
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• What is inheritance tax and why might Reeves target it in her budget?

  22-10-2024 08:00 via theguardian.com
  
  Some are predicting sweeping changes to the levy payable on the part of estates over £325,000Speculation is intensifying that next week’s budget could include sweeping changes to inheritance tax designed to raise billions of pounds.Only about one in 20 UK estates now attract inheritance tax (IHT), but it is a topic that always arouses strong feelings. Some thinktanks say there are loopholes in the rules that allow the well-off to avoid paying their fair share and which need to be clo
  
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