Cost of living - extra savings
We’re about getting people saving but we’re also here to help our customers become less stressed about money. We’re about straight talking...so here it is!
Straight talking is about helping you make the most of your money, and right now navigating some of the difficulties we are all facing. This week, we have some tips to share on day to day savings and getting on the housing ladder.
If you can, start putting this extra money away
Worrying about money can be really draining and can really drag us down, which is not great for our mental health.
Having a little bit tucked away that you know you can access to help pay for those energy bills or the cost of an unexpected repair can really help when times get tough.
For someone earning £30k a year, they’re going to be about £50 a month better off from April. Before you get used to this extra money from tax savings, think about putting some if not all of it into a savings pot.
Even if it’s just £10 a month – from little acorns grow big oak trees! It’s amazing how once you start saving the pot can grow…. But you’ve got to get started first.
Don’t forget Cushon has a range of ISAs and savings to choose from including the Lifetime ISA (LISA) which benefits from a 25% Government bonus.
Find out more about the LISA and our other ISAs.
We know it’s hard to think about saving in the midst of the cost-of-living crisis, so you might want to watch our webinar which gives some great tips on saving on day to day expenses.
Great news if you’re thinking about buying a house
If you’re looking to get on the housing ladder, you could now save up to £11,250! You now won’t pay stamp duty on the first £425k on your first home worth up to £625k.
And don’t forget there’s more money to be had if you save for your deposit through a Lifetime ISA (LISA) where you can get a government bonus of 25% worth up to £1,000 a year!
If you’re moving or buying a second home, there’s still some good news for you too. You now won’t pay stamp duty on the first £250k!
Article by
NatWest Cushon
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