If there is one topic that is guaranteed to make people nervous, it is what will happen to their money. So looking ahead, here are some solid indicators of what will happen in the fiscal world for 2019.
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Brexit, savings and the Bank of England
Of course Brexit is coming, and this is sure to affect finances. Whilst it is incredibly difficult to say exactly what will happen, there is sure to be volatility, at least in the short term. For more on Brexit and the UK economy, see this report in The Guardian.
Bank of England activity is also hard to predict, but it is thought that rates are likely to go up, as the Government has decreased the availability of cheap cash. For savers, there is not likely to be a great deal of joy. Leaving your money in a savings account is unlikely to yield great rewards. Instead, look around for better deals.
Pensions and property
It may not all be doom and gloom when it comes to pensions. If you have a job and are part of a workplace pension, your funds could receive a boost from April as enrolment contribution minimums go up to eight per cent, at least three per cent of this coming from the employer.
House prices could, however, remain slow to perk up. The outlook for the property market will probably remain sluggish, at least in the short term. The number of property hunters that were registered with agents in October was down by more than 10 per cent, according to figures from a sales watchdog. On the flipside, however, if you have money to invest in property, this may be a good time to do so, as there will be bargains to be had. To complete sales efficiently, legal advice will be necessary. If you want more information on finding reliable conveyancing solicitors London based the following can offer consultation https://www.samconveyancing.co.uk/conveyancing-solicitors/conveyancing-solicitors-London where you can obtain guidance and options regarding conveyancing.
There is no way to see what the future is guaranteed to bring for money management. It is an area in which many factors must be assessed and balanced. With the turmoil going on in global markets at present, prudence and cautious moves are sensible for protecting your capital.
