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Despite the current financial doom and gloom, we are trying to keep an optimistic eye on the world of finances and believe that long-term planning is the key to future financial security. If it's true that history repeats itself, then we can almost ‛expect' an economic downturn approximately every seven years or so.

Pension rule changes one year on give rise to generation-skipping pension pots

New research commissioned by Investec Wealth & Investment has found that almost half of savers with private or workplace pensions plan to leave at least part of their lump sum to their children when they die.  The findings come one year on from new rules allowing retirement nest eggs to be passed down the tax-free for those dying under 75.

WARNING - Tax credits claimants warned over scam emails

Tax credits claimants are being warned about scam or “phishing” emails sent out by fraudsters in the run-up to the 31 July renewal deadline.  During last year’s tax credits renewal period, which runs from April to July, nearly 24,839 phishing emails were reported to HM Revenue and Customs (HMRC). And May this year has already seen a 131.32 per cent increase in phishing email reports on the same month last year, with 11,219 being recorded.

Money Advice Service launches new resource to help parents teach their children money skills

To help parents teach their young children money-savvy habits, the Money Advice Service has launched a special section on its website called You, Your Kids & Money with a host of free, impartial advice, and tips. Working with child psychologist Dr Elizabeth Kilbey, the resource provides plenty of activities for families to try together and introduces young children to basic money concepts so that they form sensible money habits early. The Service’s own research shows that the best way for people to learn good money habits is from their parents, before the age of seven.

EW Research reveasls impact of rising energy costs on families wellbeing

A new survey commissioned by the national charity Turn2us has found that, in the face of rising energy costs, a staggering 92% of parents are worried about paying their energy bills this winter. The impact this is having on family life is severe, with over two-thirds (of those who struggled with their energy bills last winter experiencing stress as a result, and almost two-fifths forced to cut back on food or skip meals. Furthermore, if struggling with their energy costs this winter, nearly half would risk endangering their health and wellbeing by not using their heating at all.

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