There has been an 800% rise in Brits searching online for ‘Staycation UK’, as the uncertainty surrounding international travel during the pandemic continues to prevail*.
Appreciating what you already have…
Destinations such as Plymouth, the Isle of Wight and Exeter are expected to recover quickly due to the staycation tourism boost, according to new research**. It would seem that the pandemic is allowing Brits to rediscover and appreciate the hundreds of beautiful destinations that we already have on our doorstep.
…including your finances!
Appreciating what we have can extend to our finances. Over the years, life gets busy and it’s easy to lose track of our money. A reported one in five savers have lost track of a pension pot – and the situation is likely to get worse. Meanwhile, other research*** suggests that 43% of people have lost track of a bank account, 17% don’t know what’s happened to their Premium Bonds and 15% have been separated from an ISA – leaving them needlessly out of pocket.
In these troubled financial times, taking stock of your finances and appreciating what you have can give you a sense of financial control during a period of uncertainty.
Time for a financial review
If you feel like you’ve lost your grip on your finances, undertaking a review can help you make the most of what you’ve already got. So, before you set off on an autumn break to rediscover a favourite UK holiday spot, contact us to get reacquainted with your finances.
We offer all new clients an initial financial review free of charge. We’re based in Eastbourne, East Sussex, and can either carry out meetings online, or visit your home or workplace in Uckfield, Lewes, Brighton, Tunbridge Wells, Hastings, Bexhill, Newhaven, Seaford, Crowborough and further afield.
*Staysure, 2020
**Colliers International, 2020
***NS&I, 2018
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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
It is important to take professional advice before making any decision relating to your personal finances. Information within this blog is based on our current understanding of taxation and can be subject to change in future.
It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.
The information contained within the blog is for information purposes only and does not constitute financial advice.
The purpose of the blog is to provide technical and general guidance and should not be interpreted as a personal recommendation or advice.
