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Viewing entries posted in 2021

50/30/20 rule in 2022

Posted by MMB Finance Swindon and Gloucester on 27 December 2021

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The popular 50/30/20 rule might help individuals in getting their finances on track for the New Year. Put simply, this rule is designed to help people manage their money in an effective way that should stand the test of time. The basic rule is to divide one's monthly income, after taxes, into three main spending categories which represent percentages.

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Is house prices set for 2.5% rise in January

Posted by MMB Finance Swindon and Gloucester on 23 December 2021

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Average prices are expected to fall by 1.1% this month as a result of deals agreed between buyers and sellers in the early autumn, when the impact of the stamp duty holiday subsided and demand fell back to be more normal levels. However, most likely as a result of a severe shortage of new stock coming to market, the prices agreed between buyers and sellers began to rise in October and November which will be reflected in an increase of 2.5% in January, slowing to 0.2% in February 2022 when the average completed sale price will be £342,900.

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Bank Rate increased to 0.25% despite Omicron fears

Posted by MMB Finance Swindon and Gloucester on 16 December 2021

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UK inflation soared to 10-year high of 5.1% last month, and economists had widely been predicting a rate rise by the end of 2021 before fears spread around the new Omicron variant of Covid-19. In its latest minutes, the MPC said that "an increase in Bank Rate of 0.15 percentage points is warranted at this meeting". A rate rise was unexpected this month and the MPC noted the "two-sided risks around the inflation outlook in the medium term", but agreed that some modest tightening of monetary policy is "necessary to meet the 2% inflation target sustainably".

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Is rate rise back on the table as inflation hits a high

Posted by MMB Finance Swindon and Gloucester on 15 December 2021

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Inflation hits 10-year high The Consumer Price Index rose to 5.1% in the 12 months to November, up from 4.2% a month earlier. The ONS said the contributing factors behind the rise were ‘broad-based’ but transport, especially the cost of petrol, was a big contributor.

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Government considers raising state pension age

Posted by MMB Finance Swindon and Gloucester on 15 December 2021

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The Government has launched a review of the state pension age and will consider bringing forward the rise in the age at which people become eligible for the state pension to 68, from the current entitlement age of 66, to 2037-39. 

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