While dealing with all the sections in the United Kingdom, the financial advisers have been constantly addressing various queries related to the best investment fields in 2019. Depending on the recommendations by multiple experts and investment advisers, in this blog, we will be outlining our predictions for the upcoming year in the UK. Make a switch and get better rates
An FCA report in 2015 found that the more you have cash in a savings account, the lower the rate is probably going to fall. It implies that you should change the bank so as to exploit better interest rates. Unfortunately, as per the survey conducted by Everyone Loan team, it was found out that less than 33% of individuals are intending to switch their savings in 2019 and 66% do not ever want to switch at all.
Before joining that league, you must be made aware of the fact that in 2019, a few banks will offer marginally better savings rates to pull in real money from clients.
Don’t worry too much about the Brexit
The effects of Brexit, when asked from all the experts, vary as per their field of expertise, in fact, everyone had a different conclusion but they all estimated a significant instability in the market for the time being. Amid the unpredictability, it’s vital to not to stress. It is evident from the previous market shifts that within just a few years, the system is able to recover, moreover, providing better results than expected.
The housing market can be negatively affected
House value forecasts assume the worst possible scenario of a decline of over a third – depending on how Brexit plays out. While the experts can’t anticipate these costs with 100% assurance, it can be inferred that deals are probably going to stay drowsy. Therefore, it is advisable and will be observed that the investors and purchasers would try to put their plans on hold.
Increase in Auto Enrolment Minimum
Employed individuals enlisted in employer’s pension schemes will see an increment from 5% to 8%. So, analyse your financial and personal goals because if you want to spend time doing something else, it is a good time to retire with this upgrade.
Save on your vacation bills
The Pound’s future is probably going to change as the Brexit dramatisation unfolds and proceed. So, it is recommended to use those extra savings you had collected for holidays and events well in advance so as to save yourself from the uncertainty of the currency market.
There will be 24 new Premium Bond tycoons
The lucky draw is a reason for adding 2 new millionaires in the million-club every month. Obviously, any cash you put into Premium Bonds that don’t draw in a prize will lose cash after the inflation. In any case, in a low-interest condition, although the chances are slim, Premium Bonds can certainly give you a chance to win several prizes and in the best case scenario, you could be worth a million pounds.
Are you prepared for an emergency?
Less than half of the population (48%) in the United Kingdom makes plans for emergency and thus, they don’t have a rainy-day fund. In case you’re not one of the minorities who is saving in the event of some unforeseen issue, ask yourself how you would meet the expense when you would need the most.
Investing in the right fund is an important aspect of your financial planning. However, it is also important for you to clear all your prior bills and for that, ‘debt consolidation loans on instant decision‘ scheme can come very handy as Everyone Loan provides guaranteed loans for every applicant who fulfils minimum eligibility criterion such as being at 18-year-old UK resident with collateral, income source or even a guarantor.
Have a good savings account as well as a decent credit score in 2019, invest in the right place with the best returns through a sound financial strategy.
That said, Everyone Loan wishes you a very Happy New Year!