Check out our pick of the financial news from across the web this week and find out what we think!
Money Marketing: Investment jargon must end, IA says
Money Marketing looked at the new proposals from the Investment Association which aim to tackle the complex language in financial services. It published a list of 35 terms, suggesting that fund managers use simpler language to explain common terms.
Read the article here: www.moneymarketing.co.uk/investment-jargon-investment-association/
Lower my Charges’ take: The investment industry, like many others, has its own language, some of which can often confuse customers. Whilst the industry must of course do everything possible to simplify this language, our advice is that if you don’t understand something, just ask. Don’t settle for an answer until you do understand.
BBC News: Tax-free childcare helps just a fifth of families
This week, the BBC reported that only 91 000 families are using the new tax-free childcare system. With around 1.3 million families eligible for help, the take-up of this scheme is far below expected and means many could be missing out on help with childcare costs.
Read the article here: www.bbc.co.uk/news/business-47274021
Lower my Charges’ take: It’s alarming that so many parents and families are missing out on tax-free childcare help.
Which: SSE raises energy prices by up to £117 a year
All of the ‘big six’ energy suppliers have now announced price rises. Those on standard variable tariffs with SSE could see increases of up to a huge 10%. The price increases will apply from 1st April and will cost customers up to £117 extra per year.
Read the article here: www.which.co.uk/news/2019/02/sse-raises-energy-prices-by-up-to-117-a-year/
Lower my Charges’ take: With the cost of energy seemingly ever moving upwards, here are five tips to help keep this under control.