ICR244: Jumping ship; why, when & how to make financial changes in life
Today on the show, jumping ship. Why, when and how to make those big financial changes in your life.
I’ll be talking about the big financial decisions, why you need to make then, when the right time is, and how you can approach them for the best chance of success.
There’s also a roundup of the latest personal finance news headlines and an update on the world of Informed Choice this week.
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Personal finance news
-Surcharges applied when paying with debit or credit cards will be banned next year. The government is introducing the measure in January which will prevent businesses from adding additional fees for card payments.
-The Financial Conduct Authority has launched its review of investment platforms. The market study will examine whether investors get value for money from these fund supermarkets.
-Price inflation in the UK fell unexpectedly in June. The Consumer Prices Index (CPI) measure of price inflation was 2.6% in the year to June, down from 2.9% the previous month.
-The Government is reintroducing its plan to reduce the tax-free allowance on dividend income from £5,000 to £2,000. This measure was first announced in the Spring Budget but then removed from the pre-election Finance Bill.
-Illness, death and financial problems top the list of the nation’s most avoided and hardest conversations to have. This is according to new research by Co-op Funeralcare.
-The timetable for a state pension age rise to 68 has been accelerated, with the increase brought forward by seven years. It means six million people between the ages of 39 and 47 will need to wait an extra year before they start to get the benefit.
Useful links
–Episode 239 with Elle Martinez, Couple Money
–Episode 203, when is the right time to sell?
–PFS Festival of Financial Planning
Get answers to your personal finance questions
Do you have a personal finance or investing question for Martin?
Email martin@icfp.co.uk or ask on Twitter @martinbamford.
You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.
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