Ady Suter Financial Adviser

Starting in September 2024, parents of nine-month-olds will benefit from 15 hours of free childcare. Additionally, the funding rates per child will increase, with payments for 3 and 4-year-olds rising from an average of £5.29 to £5.62, and for 2-year-olds increasing from an average of £6.00 to £7.95. A financial adviser can help you navigate these changes by providing guidance on how to maximise these benefits, manage your budget effectively, and plan for any additional childcare costs. They can also offer advice on how to integrate these savings into your overall financial strategy, ensuring you make the most of the available funding. #childcare #budget #nursery #financialplanning #funding #finance #children

In this new Ask Ady video, Ady offers valuable tips on where and how to find reliable financial advice for students. This guidance is especially helpful for your children who are starting university in September. Timms Wealth Management Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). SJP Approved 16/07/2024 #student #finances #moneymatters #university #saving #financialmanagement #budget

Why You Should Start Saving for Autumn/Winter As the seasons shift from summer to autumn and winter, it's a smart move to begin saving in advance. Here’s why planning ahead for the colder months can make a significant difference: 1. Heating Costs Autumn and winter bring a noticeable increase in heating expenses. With colder temperatures, your home will require more energy to stay warm. By saving early, you can better manage these higher utility bills without the stress of sudden expenses. 2. Christmas shopping The autumn and winter months are filled with events and celebrations, including Halloween, Christmas, and New Year. These occasions often come with additional costs for gifts, decorations, and festive meals. Starting to save now allows you to spread out these expenses and avoid financial strain during the winter. 3. Winter Clothing and Gear As temperatures drop, there's a need for warmer clothing and gear, such as coats, boots, and scarves. By saving ahead of time, you can budget for these essential purchases without scrambling for funds when the weather turns cold. 4. Unexpected Repairs and Maintenance Winter weather can lead to unexpected home repairs and maintenance needs, such as fixing a leaky roof or servicing your heating system. Saving in advance helps ensure you have funds available for these potential issues, reducing the risk of financial stress during the colder months. 5. Seasonal Travel Autumn and winter are popular times for activities such as skiing trips, Christmas markets, and winter getaways. If you plan to participate in these seasonal activities, setting aside money now can help you enjoy them without impacting your regular budget. Starting to save for autumn and winter well in advance allows you to manage your finances more effectively, ensuring you’re prepared for the additional costs and potential challenges of the colder seasons. It also provides peace of mind, allowing you to enjoy the season’s festivities without financial worries. #financialgoals #financialplanning #financialwellness #businessplanning #economics #finance #moneymatters #financialmanagement #wealthmanagement

Set Financial Goals: Identify specific objectives for your child's future to create a focused plan. Open a Junior ISA (JISA): Tax-efficient savings account for children under 18 with an annual contribution limit of £9,000. Contribute to a Child Pension: Tax-efficient way to invest in your child's retirement with government tax relief. Estate Planning: Protect your child's future by creating a will, setting up trusts, and minimising inheritance tax. Teach Financial Literacy: Instill responsible financial habits by discussing money management and savings. #economics #finance #moneymatters #financialmanagement #wealthmanagement

Six personal loans you are most likely to take out in the course of a lifetime: 1. Debt Consolidation Loans Debt consolidation loans are used to combine multiple debts into a single loan with one monthly payment. This can make managing your finances easier and might even reduce your overall interest rate. These loans are particularly popular for consolidating credit card debt, store card debt, and other personal loans into one manageable payment. 2. Home Improvement Loans Home improvement loans are taken out to finance renovations, repairs, or upgrades to your home. Whether you’re adding a new kitchen, installing energy-efficient windows, or converting your loft, these loans provide the necessary funds to enhance your living space and potentially increase your property’s value. 3. Car Loans Secured against the car itself or unsecured, depending on the lender and your creditworthiness. Car loans offer a way to spread the cost of a vehicle purchase over several years, making it more affordable. 4. Holiday Loans Whether you’re planning a family holiday, a romantic getaway, or an adventure trip, these loans can cover costs like flights, accommodation, and spending money. They allow you to enjoy your holiday without the immediate financial burden. 5. Wedding Loans Weddings can be expensive, and many couples take out wedding loans to cover costs such as the venue, catering, attire, and photography. These loans enable you to plan your dream wedding without having to save up for years, spreading the cost over manageable monthly payments. 6. Unexpected expenses Dealing with unexpected expenses can be challenging, especially when your budget is already tight. In some situations, a personal loan may be a viable solution to help you manage these costs. Personal loans typically have lower interest rates than other forms of credit and offer flexible repayment terms. Always compare loan terms, interest rates, and repayment options to find the best deal for your circumstances. #economics #finance #moneymatters #financialmanagement#wealthmanagement

As the summer holidays draw to a close, the excitement and challenges of the new school year come into focus. Preparing for your child's return to school can be both exhilarating and overwhelming, particularly regarding financial planning. With some foresight and careful budgeting, you can ensure a smooth and cost-effective transition. Here are some tips for back-to-school financial planning for parents. #moneyadvice #financialhelp #financialgoals #financialservices #financialplanner #financialtips #financialwellness #financialmanagement #moneytips #school #backtoschool #parents #budget

A Potentially Exempt Transfer (PET) allows an individual to make gifts of unlimited value that will become exempt from Inheritance Tax (IHT) if the individual survives for a period of seven years from the date of the transfer. PETs are a crucial aspect of estate planning in many jurisdictions. They enable individuals to reduce the value of their estate and thereby potentially lower the IHT liability for their beneficiaries. When a PET is made, it is initially treated as a potentially taxable gift. If the donor survives the full seven-year period, the gift becomes fully exempt from IHT. However, if the donor passes away within this seven-year window, the value of the gift will be included in the estate for IHT purposes, although the amount of tax payable may be reduced on a sliding scale depending on how many years have passed since the gift was made. This sliding scale is often referred to as "taper relief” #inheritance #financialmanagement #finance

- Create a Realistic Budget List all income sources (e.g., student loans, grants, scholarships, part-time jobs) Outline essential expenses (tuition fees, rent, utilities, groceries, transport) Allocate funds for discretionary spending (social activities, personal items) Regularly track spending to stay within budget - Take Advantage of Student Discounts Use student ID for discounts at retailers, restaurants, and service providers Use websites and apps like NUS, Unidays and Student Beans to find deals - Plan for Big Expenses Set aside money each month for textbooks, course materials, technology updates, and holiday travel If you need a new laptop or phone - start to plan and save early for these. Consider buying second-hand textbooks or using the university library - Cook More Save money by cooking at home and preparing meals in advance Plan weekly meals and shop with a list to avoid impulse purchases - Open a Student Bank Account Look for benefits like interest-free overdrafts and low fees Compare different accounts for perks like railcards or cashback on purchases By following these tips, you can manage your finances effectively and enjoy your university experience without too much financial stress. #economics #finance #moneymatters #students #budget #university #moneytips

Sometimes, it can seem like saving for a summer holiday is an uphill struggle; here are some tips for how to save for a break away, whether it's a short holiday or a fully organised trip. Timms Wealth Management Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). SJP Approved 16/07/2024 #summer #holiday #holidayplanning #budget #travel #finance #financialplanning

Mortgage rates in the UK have gone up significantly due to a mix of economic factors and policy changes. The main reason is that the Bank of England has been increasing its base interest rate to control rising inflation. When inflation is high, the cost of living goes up, so the Bank of England raises interest rates to help bring it down. Since mortgage rates are linked to this base rate, they also go up. High inflation has been driven by issues like supply chain problems, higher energy prices, and increased consumer demand. Additionally, economic uncertainties, such as geopolitical tensions and market volatility, make lenders cautious, leading them to raise rates to protect themselves. On top of that, the housing market's high demand and low supply push lenders to adjust rates upwards. All these factors together have caused a significant rise in mortgage rates in the UK. #housebuying #property #finance #moneymatters #lending