August 2024

Every adult in the UK has a £20,000 ISA allowance for the 2024/25 tax year, which started on 6 April 2024 and ends on 5 April 2025. If you don’t use your allowance by 5 April, you lose it. Here’s what you need to know before investing in a stocks & shares ISA.What is a

What is Pension Credit?Pension credit is an income ‘top-up’ payment designed to help those who don’t have enough to live on. It’s a means-tested benefit with two parts:1. Guarantee Credit:Tops up income to at least £218.15 a week for single people or £332.95 a week for couples of state pension age.The average top-up is £75

Australia’s S&P/ASX 200 dropped 3.7%, Europe’s STOXX 600 fell 2.17%, and U.S. major indices sank over 2.5%. Why?Global Market Declines: Some of these huge declines were driven by rising recession fears following a weaker-than-expected July jobs report. The U.S. economy added just 114,000 jobs in July, missing the forecasted 175,000 and falling short of June’s

The UK’s economy grew by 0.6% between April and June, continuing its recovery from the recession at the end of last year. This growth aligns with forecasts and follows a 0.7% increase in the first three months of this year.Growth was driven by the services sector, particularly the IT industry, legal services, and scientific research.

The Bank of England cut interest rates to 5% in its August meeting,following seven consecutive holds at 5.25%. This change in interest rates affects mortgage, credit card, and savings rates for millions across the UK. Despite this being the first rate drop since March 2020, borrowing costs remain high.Understanding Interest RatesInterest rates indicate the cost