Charlene Lock APFS

Chartered Financial Planner and later life advice specialist

[Charlene Lock APFS @LockFinancial]

@MichaelV023LFC @TopDastan @SkyNews .ht2m .nng2

[Charlene Lock APFS @LockFinancial]

How is everyone's weekly plan? Short week coming up with the bank holidays, but even more reason to make it count! #productivity #financialadviser #finances #business #yorkshirebusiness #hullbusiness

[IFP @informedFP]

It's been a while since many of us jetted abroad for our summer holiday but If you've just booked those flights, why not check out our 5 top tips to help your money go further abroad! 👉 https://t.co/2ijXveh45A

[Charlene Lock APFS @LockFinancial]

There are many different ways of managing debt, but it always best to talk to someone if you cannot manage. These service can put you in touch with free debt advisers who will talk through your options #financialeducation #finance #debt

[Charlene Lock APFS @LockFinancial]

Speak to the Pensions Regulator or a financial adviser about setting up a scheme or if you are unsure of your obligations as an employer #finance #financialeducation #hullbusiness #pension #business

[Charlene Lock APFS @LockFinancial]

The FSCS can pay back any money you hold with a failed bank or building society, but only up to the limit of £85k per person. It may be worth spreading cash across more than one bank if you have over this limit #financialeducation #finance

[IFP @informedFP]

WOO! 🎉🙌🏼 we are super pleased to have received the award for Adviser Firm of the Year (North East)! 🥂 thank you @Profadviser 😁

[Charlene Lock APFS @LockFinancial]

If one partner of a couple earns over £50k and either of them receive child benefit – you will likely have to pay some or all of this back. HMRC can confirm the calculation, and you can choose not to receive child benefit rather than receive the charge #financialeducation #tax

[Charlene Lock APFS @LockFinancial]

Pension income is classed as ‘taxable’ by the HMRC (except for your tax free cash lump sum entitlement). If you have pension income above the personal allowance then you will likely have tax to pay ��� check with HMRC or a financial adviser if unsure #financialeducation #finance

[Charlene Lock APFS @LockFinancial]

It can be surprising how much certain things use. Keeping an eye on energy usage can encourage you to be more savvy – turning off appliances, lights, and switching to lower energy usage kitchen appliances like halogen oven/air fryers #financialeducation #finance

[Charlene Lock APFS @LockFinancial]

Investment risk affects the money you can get back & how much the values go up and down. Make sure yours is suitable for your needs and you are aware of the risks you are taking, as you could lose money. Have a review with a financial adviser if unsure #financialeducation

[Charlene Lock APFS @LockFinancial]

Make sure you are aware of the specific terms and conditions when taking out any new savings account especially if the interest rate is reliant on you doing (or not doing!) something specific, so you don’t accidently break the terms set out #financialeducation #finance

[Charlene Lock APFS @LockFinancial]

Each individual can pass £325k to beneficiaries’ inheritance tax free – but it’s not always that simple. Some other allowances and exceptions apply & this is a very complex tax area. Seek financial advice if unsure what your family may have to pay when you die #financialeducation

[Charlene Lock APFS @LockFinancial]

It’s easy to lose track of old pensions, especially if you only worked somewhere a short while. You may still have pensions from old jobs - it’s worth digging out statements, contacting past employers. Seek financial advice if unsure or want to know more #financialeducation

[Charlene Lock APFS @LockFinancial]

Shares could be taxed on any gains if held outside of an ISA or specialist tax environment. You have a capital gains tax allowance of £12,300 per year though - so speak to a stockbroker, accountant or financial adviser if you're unsure if you should pay tax #financialeducation

[Charlene Lock APFS @LockFinancial]

This pot should usually be around 3 to 6 months of normal spending if you can - we understand this isn’t always affordable. But an emergency fund will mean you don’t have to rely on credit etc if a disaster occurs – boiler breaking, a car needing repairs etc #financialeducation

[Charlene Lock APFS @LockFinancial]

A qualifying year is accrued by paying enough national insurance contributions, or receiving certain benefits. Go to https://t.co/01fN5LhdKu to find out your entitlement #financialeducation #pensions #pension #finance

[Charlene Lock APFS @LockFinancial]

Conditions apply - make sure you read the terms or seek financial advice. Only parents can open an account, but other people (e.g grandparents can then top it up). Investment Risks apply to stocks & shares junior ISAs and may pay less back than has been put in #financialeducation

[Charlene Lock APFS @LockFinancial]

Make sure you understand the deferral period (how long before you have to be off work & the claim pays out) & criteria for pay out (if you have to be incapable of own job vs any job). It makes a difference to cost and benefit paid out. Seek financial advice if unsure #finance

[Charlene Lock APFS @LockFinancial]

It's important to understand what sort of advice you will get when looking for a financial adviser. Independent advisers can give unbiased advice from the whole of the market, but a restricted or tied adviser will usually only be able to recommend products from their own provider