Portafina in the press...

“The most important thing when it comes to managing money when you are a student is to have a budget plan. Knowing what bills you have and knowing what money is going out of your account will really help you know what you can and cannot spend. Checking your banking app regularly is a good way of doing this. If you don’t know, you’re more likely to spend what’s in your account until your balance hits zero. If another bill goes out after that, it will bounce, and you could get hit with a penalty charge of some sort. So, getting into the habit of budget planning is key before you begin university life.”

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“When it comes to how pension savings are invested, another common mistake among retirees is to react to falls in stock markets and change their investments, or even withdraw all their pension savings. Aside from the tax bill this could leave you with, it means you could also miss out on the best market returns. As long as your pension is properly invested to begin with, the best course of action is to pay little attention to the regular stock market ups and downs and stay invested for the long term. Going up and down is what stock markets do on a daily basis. And while sharp rises and falls in stock prices makes for catchy news headlines, they are rarely a sensible basis for making investment decisions.”

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