r/FinanceUK

Would you say 100k is still a high salary nowadays or is it not the case anymore?

Got a letter from the solicitors today telling me my grandad had an account for me with roughly £2,000 in it. I have a help to buy isa from 2019 that I have thought about putting in it though turns out I could also get a lifetime isa what would be better to put it in? I am starting to think of saving up a deposit for a house and I’ll be honest haven’t really locked in for saving yet so this would be a good starting point.

hi I am a student coming into the real world and want to start properly handling my finances for the future. I have opened a Tembo cash isa for 4.5% interest for the first year, and already have a few hundred pounds in a LISA. I was reading about the new ISA changes coming next year and to be honest feel like I only understand it about 80% of the way. I was thinking beforehand about opening a stocks and shares isa too but should I now the taxation will start next year? I earn around 25k a year and so will definitely not be hitting either £12k in a cash isa or £20k a year overall in ISA allowance (I wish).
Any advice given would be helpful!

28M with wife (28F)

Both post-qualified dentists with good earning potential.

Current situation:

Me - Self-employed earning 105K gross per year
Wife - Employed with 60k salary

SIPP - 4.4K
LISA - 6.5K
T212 S&S ISA - 4.1K
Savings - 10K

No dependants.

Expenses - around 3K per month (Which includes our £1400pm mortgage)

Wife’s salary will rise year on year and in the next 5-10 years it’s expected to be around £120K

My earnings are more unpredictable and I like to work 4 days per week. Can’t touch the NHS pension until 68 which seems lightyears away so I want to be in a position to wind down about age 50.

Not interested in property, just want to pay my mortgage off and live happily. Not big spenders and we live quite frugally (not by force we just have very humble backgrounds so don’t feel the desire to splurge cash).

My plan is to keep maxing my LISA and access that as a sort of tax-free bridge until I can access my pension.

Aiming to pay £500pm into my own SIPP (I usually pay about £1000 into an NHS pension per month which ends in a lifetime pension)

The T212 ISA is just for a bit of fun really but having seen it have a 90% unrealised gain I have been considering about using it more heavily.

Just wondering on thoughts and how anyone would approach things differently. I like to hear opinions on what seems sensible/too risk averse/too risky. Especially from strangers who don’t care about hurting my feelings.

been working retail almost 2 years, currently have £5500(*) in a 4.5% Chase savings account, I live at home and earn say £16k a year now. my first year I wasn't driving so I was limited in the hours I could do

my hours aren't super stable, past few months It's been between 24-3*/week @ 12.75/hr - 14.25/hr nights (though I plan on getting more hours & moving up a role for a bump)

my monthly outgoings are around £235-240 for insurance, fuel, phone & some subscriptions. (which are about £30 of the total) and what's left over (£200-300) is for whatever I need/want for the month.

what I'm seeking advice for is, do I stick to boosted savings accounts for a few years, I'm with Chase because they offered 4.5% AER for my first year and I imagine other banks offer similar deals so I can surf around. or should I put my money / a chunk of it else where?

goals? short term my savings are going towards a car.. stupid? maybe but I want a cool car I'm a petrol head. (looking at spending no more than £10k then keeping it for years)

longer term I want to be able to get my own place (no renting) by 26 at a push after that I just want to have a comfortable pad for anything that may happen.

additional info:
no formal qualifications which is why I'm in retail, willing to learn & train to move "up the ladder" for higher paying positions or potentially down the line move careers/jobs if I'm not where I want to be, I say this because I anticipate comments about my job

(*) between Jan 25 - Dec 25 (with the help of my CTF which was around £1100) I had saved around £3000, and spent most of it on my current car, the current £5500 is just from this year's wages.

sorry if this post is a bit of a mess or too much info in places wanted to cover my entire situation, please ask any questions or for clarification if needed. appreciated in advance

Hi everyone,

I’ve been trying to understand my own finances better and I’ve realised something quite confusing about the UK ISA system.

I currently have money spread across:

-Cash savings account (Chip)
-Stocks & Shares ISA (Trading 212)
-Lifetime ISA (just opened, not funded yet)
-Thinking about other ISA providers in future

While trying to track everything, I realised there is:
-no single place that shows how much of the £20,000 ISA allowance you’ve actually used across all providers in real time
-no easy way to see Cash ISA + Stocks & Shares ISA + LISA usage together
-most apps only show their own ISA, not your total usage

For example:

Trading 212 shows my ISA allowance remaining, but it doesn’t include other accounts.

My questions are:
-Do people actually track their ISA usage across different providers?
-Or do most people just ignore it and check at the end of the tax year?
-Have you ever accidentally over/under contributed without realising?

Would a simple tool that shows “ISA used vs remaining allowance” across all accounts actually be useful, or am I overthinking this?

I’m not trying to promote anything — I’m just trying to understand how other people manage this because it feels surprisingly unclear in the UK system.

Thanks in advance 🙂

P.S. Any screen shots or info about how people keep an eye on this would be amazing !

I'm 27 years old I have around 40k, I'm about to finish studying so hopefully my income will go up.

Currently:

12k in help to buy ISA (may try and swap this for a LISA as it is unlikely I will buy a house)

8k current account

3.5k in savings account 5% interest (paid monthly - maximum 10k can be in the account recently increased from 5 but can't make large deposits)

5k in investment account though my bank

3.5k in savings account with 3.25% interest paid daily

7k in trading 212 (4k cash with daily interest of 3.8)

I'm worried about the restrictions being placed on ISAs and I'm not sure if this is the best way forward anymore.

The higher interest accounts all have limits on how much you can have in them and deposit limits. I want to aggressively save for the future but I feel like I'm gonna get screwed over by taxes.

Edit to add: Stop with the DMs. I'm not investing in your scam. No you haven't made 5 million in 2 years. I'm not 85 I know what a scam looks like.

So I made a purchase through PayPal about a week ago and I thought the payment had already gone through but apparently it didn’t until midnight today so now I’m £30 in unarranged overdraft with Barclays.

The issue is I won’t have the money to pay this off for another 13 days. I’ve managed to transfer to get it down to £14 overdraft.

I did some googling and it said that they don’t do fees for it but I’m not sure if that applies when you leave it for 2 weeks.

I know it’ll have some credit score impact but does anyone know if there will be any fees?