Petty cash fund

Labour MP Meg Hillier, chairman of the Public Accounts Committee, said: 'Each year people are spending less time watching the BBC, fewer households are paying the licence fee and it's been stuck with the bill for giving the poorest pensioners a free TV licence. … [Read more...] about Licence fee cash at risk as viewers desert BBC: Shift in habits with younger audiences flocking to online rivals means people are ‘less likely’ to pay TV levy, report suggests

Personal pension or self-invested personal pension (Sipp) - This is probably the most flexible type of pension as you can choose your own provider and how much you invest. Workplace pension - The Government has made it so it's compulsory for employers to automatically enrol you in your workplace pension, unless you choose to opt out. These so-called defined contribution (DC) pensions are usually chosen by your employer and you won't be able to change it. Minimum contributions rose to 8% in April 2019, with employees now paying in 5% and employers contributing 3%. This is up from the 5% of contributions workers and companies were required to pay in previously, where employees contributed 3% and employers 2%. Final salary pension - This is a also a workplace pension but here, what you get in retirement is decided based on your salary, and you'll be paid a set amount each year on retiring. It's often referred to as a gold-plated pension or a defined benefit (DB) … [Read more...] about How to boost your pension by £1000s and stop the coronavirus crisis from delaying retirement

Weather saving challenge - Save potentially hundreds by putting aside an amount equal to whatever the highest temperature was that week. £1 = 1C. 20p a day challenge - Start by putting 20p in savings, then increase the amount by 20p every day. For example, the first week will look like this: 20p, 40p, 60p, 80p, £1, £1.20, £1.40. £5 a week challenge - Like the 20p challenge, put aside £5 a week and increase it by a fiver each week. Eg £5, £10, £15, £20 Round-up challenge - Every time you buy something, round up the purchase to the nearest £1 and put the difference in a savings account. Eg. You pay £2.60, so you put 40p in savings. You can use an app such as Monzo or Starling to do this.  Bingo challenge - Here you have a bingo card with different numbers on it and you tick them off when you’ve put that amount in your savings account. It can be ad hoc but you have to tick them all off by … [Read more...] about MoneySavingExpert’s 1p savings challenge could get you over £655 this year

SpaceX explained: ' SpaceX’s Starship spacecraft and Super Heavy rocket (collectively referred to as Starship) represent a fully reusable transportation system designed to carry both crew and cargo to Earth orbit, the Moon, Mars and beyond.  … [Read more...] about SpaceX successfully launches another 60 Starlink satellites into space – taking its growing internet ‘megaconstellation’ to almost 1,000