Basic economic texts tell us that inflation is caused by an increase in demand and that inflation can be reduced if interest rates are increased, since the increase in the cost of borrowing will dampen the demand for ‘stuff’ and reduce the upward pressure on prices. The Bank of England seems to have read this part of the economics text…
Read MoreCategory: Money Stuff
Could your bank account do with a Spring clean?
There’s no better place to start a money spring clean than with your bank account. Get a hold of your most recent statement, whether that’s a paper copy of one you can access online. Go through it line by line to make sure that you understand every credit and debit on the statement. “Why should you have to do that?”…
Read MoreIs the sun setting on tax-efficient pensions?
There is a lot of talk in the money pages at the moment about the changes that the Chancellor might make to pensions legislation in his budget next month. Pensions are very tax efficient in that money paid in to a pension is generally eligible for tax relief at your highest rate, growth inside the pension is generally tax-free, and…
Read MoreFixed or Variable, that is the question.
I recorded this before interest rates rose to 4% recently, but it’s still a useful listen whatever happens to rates later this year.
To watch Fergus talk about this click on ‘read more’ below.
Read More