Ever since the banking crisis sparked a world-wide recession a few years back, people have been under more pressure financially than they have been for decades. Indeed, it is fair to that that the recession of the late Noughties was the most severe ever experienced, even worse than the great depression of the 1930’s. Many things have changed since then, not the least of which is that we as consumers have never been more aware of our financial situation. That being the case, it is now incumbent on each of us to ensure that we are completely up to speed with our personal finances to ensure that we have the best possible rates available to us in terms of credit cards, mortgages and other loans, as well as in regard to a host of other personal finance issues.
Which is what this website is all about. It can be confusing – not to say downright bewildering at times – to keep on top of all the information out there in relation to personal finance. With our site, we will endevour to cut through all this “noise” to provide you with the best advice and information so far as it relates to personal finance.
So, what exactly will we be covering? Here are just a few of the topics we’ll be exploring in the coming weeks and months:
Mortgages: For most people their mortgage is the biggest financial commitment they will ever make. All the more reason, then, to make sure that you do not end up choosing a product that is unsuitable or in respect of which you are paying more than you need do. Our team will keep a beady eye on developments and trends in the mortgage marketplace and provide regular updates and information on the best and most affordable products out there.
Savings: While the low interest rates of recent years have been terrific news for borrowers, the same cannot be said for savers. In this climate getting the best return on your savings is no easy task. We will report on the best options available. In some cases this may involve tying up your capital for a longer period, but we will also give you information on instant access options too, so that you are able to make an informed, educated decision on what is right for your particular situation.
Alternative Investments: Traditional savings accounts such as ISAs will always be the most popular option for savers, but there are some people who are willing to take a most adventurous approach to their savings and investments in the hope of generating a better return. For those people we’ll consider the best options in terms of alterative investments. Is original artwork or fine wine worth considering? What about investing in gold? We will consider the choices to be had and look at the ones we think might provide a decent risk-to-return balance. One word of caution however - alternative investments are not for everyone. They are suited to the more confident, experienced investor, rather than the novice.
Investment in Property: For a lot of people property was always seen as the ideal “safe” investment, where you could be sure the value of the underlying asset would always rise, providing a better than average return on your capital. That “bubble” has, of course, now been well and truly burst, with property in some areas in the UK having seen drops in value of up to 30% over the course of the last few years. So we will be asking the question - is investiing in property a viable option, given the new economic conditions we are all having to adapt to? If the answer is yes, which type of property is best – commercial or residential? Or is it safer to spread the risk by investing in a specialist property fund, rather than directly in bricks and mortar?
Stocks and Shares: Of all the various types of savings and investments out there, perhaps none has taken such a battering in recent years than stocks and shares. Do they remain an option for the clever investor? Fans of stocks and shares point to the fact that they have historically outperfomed all other forms of investment. But does past performance provide any guarantee of what may happen in the years to come? Again we will assess the choices available. Are you better off playing it safe, investing in a bond where the risk is spread or directly via shares? Which are the best markets to look at for the prospects of a strong return to growth?
So, we hope the above gives you just a small flavour of what we will be looking at. We do, however, have to add one important caveat at this point. By its very nature the information on this site will cover a range of different products and investment types. We will do our level best to ensure that the information we provide is as detailed and as accurate a possible, as at the date of publication. However, before you decide to proceed wirth any particular investment or make any amendment or alteration to your personal finances – for example by remortgaging - we strongly suggest that you seek independent specialist advice, preferably from an accountant, solicitoror independent financial advisor.