I don’t mind paying taxes. I understand why they’re necessary, and that we’re (mostly) paying for those perks of civilised society – hospitals, roadworks, sanitation, schools, etc. However… I don’t agree with paying more than I have to, or paying tax twice on my earnings.
Which is why it makes sense to put your savings in ISA accounts, where you won’t have to pay tax again on your (already taxed) hard-earned money. Years of being a spend-now-save-later society left the UK in a vulnerable position when the US property market collapsed, and it was only the introduction of severe austerity measures that pulled us back from the brink of bankruptcy.
Now the message once again is save, save, save! The Government has introduced many incentives to encourage us to preserve our pennies, including more attractive pension options, and increasing the annual amount you can save into an ISA.
There’s a lot more choice now, too, so you can choose the ISA that perfectly fits your needs. To help you with that decision is NUTMEG.COM, a website that strips away all the confusing jargon, and gives you plain English, practical advice to help you make the very best of your money.
OH and I are currently having an overhaul; we’re trying to be a bit more grown-up with our money, and want to start taking steps towards ensuring our long-term financial goals. I’ve taken a look on the Nutmeg.com website, and loved the online tools they have to help you figure out the best investment or pension for you, and your personal circumstances.
They also make it very simple to see at a glance how much you need to save or invest to achieve the income or returns you want, by the age you want them.
To give your own finances a shake up, or to look into the best pension plans for your needs, visit Nutmeg.com yourself, and start firming up your financial future.
• in collaboration with Mummy’s Little Monkey and Nutmeg.com
Fab post, I’m getting better and about to set up a saving account from my business account to help me save monthly towards the tax bill at the end x
I learned the ‘put your tax aside’ lesson the hard way when I first started freelancing – now I religiously put money aside every month to cover it, and a little extra to pay for the accountant’s bill too! x