Tag Archives: Savings

Can I access my pension savings before I retire?

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If you are over 55 and have the right pension – yes you can! This is great news for people in the UK at the moment, as the official retirement date seems to be getting further and further away.  But why would you want to use hard earned cash which has been saved for your later years? Isn’t this a bit risky?

Use the guidance of a regulated financial advisor

Clearly money put aside for your retirement years was put there for a reason. To diminish those funds could be putting your retirement in danger. For this reason, you should never mess with your pension pot alone and get the guidance of a regulated financial advisor if you are thinking of releasing money. These professionals are accountable to the FCA.  Many offer a no-obligation pension check and can help you understand the options available to you. They can let you know if releasing money is right for you or not, based on your individual circumstances. It could leave you worse off in retirement.

In other words, as you approach your final working years you can double check that your pension pot is strong enough to fund a long retirement and also consider how you can use your savings to help you with debts, treats or big buys in the here and now.

So how do you access your pension?

In 2015 the government in the UK introduced pension freedoms. They allow people to take lump sums from their pension or a regular income, from the age of 55. You can only do this with work pensions or private pensions. You cannot access your state pension or unfunded pensions. If you have a final salary pension you can transfer monies to a fund which offers access. However, be careful as you could be giving up valuable guarantees. Before you do this get guidance as to whether having access to your pension will be detrimental to your long term benefits.

What are your options?

Here are three fundamental ways in which you can access your pension savings:

  • One lump sum
  • Taking out lump sums whenever you need them
  • Income drawdown. In other words, you draw down your pension as a regular income.

The first 25% of any money you take from your pension will be tax free. Any money left in your pot will continue to be invested by your pension provider. As seen above, you can take as many lump sums – if and when you need them. With drawdown you can create an extra income for yourself which could act as a sole or complimentary income. 

Why do people access their pensions?

Throughout our working lives our hard earned cash tends to go on five specific things:

  1. Sustenance. i.e., paying for those things we need just to allow us to live comfortably
  2. Those treats we give ourselves on a weekly/monthly basis
  3. Short-term savings (i.e., that holiday to America next summer; that new sofa you have been promising the family; rainy day money)
  4. Emergency funding (that unforeseen urgent bill etc.)
  5. Long-term savings (i.e., a savings pot for retirement)

There is always going to be the time when you need that extra bit of cash urgently. It seems people access their pot for reasons 3 and 4 above. Statistics from 2018 show people tend to access their part for the following reasons:

  • 32% to tackle a debt
  • 21% to make house improvements
  • 10% to buy a new car

See here how people are using pension freedoms in the year 2019/2020.

Whatever you do – don’t go it alone. Seek out the guidance of a regulated financial advisor to ensure your pension pay-out will be maximised after any access or indeed if it is a good idea at all. Check out the FCA website to get ideas as to where to find an advisor.

If you are considering your pension, consider using a regulated pensions specialist like Portafina or, view the information guides at The Pensions Advisory Service.

Collaborative post with our brand partner. 

Working adults in their thirties are on track to be the wealthiest generation

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Working adults in their thirties are on track to be the wealthiest generation – after research found they earn the highest salary, save more and have the most disposable income.

A study into how much money the average person ‘has’ in each decade of their life revealed those aged 30 to 39 earn an average of £32,561 a year, and typically save £309 a month.

They also have the most disposable income – an average of £382 a month – and have less debt than 50-somethings – £7,196 compared to £8,315.

The study of 2,000 adults, commissioned by Equity Release Supermarket, also found that those in their thirties have an average of £10,326 stored away in savings.

Mark Gregory, founder and CEO of Equity Release Supermarket, said: “Our study revealed that while those in their thirties are impressively thrifty in their approach to money and savings, adults aged 40-49 who have had more time to save are slogging along with just £11,039.

“We know first-hand that many parents and grandparents would like to support their younger family members in their later life, whether that be with university fees, property, or other financial support.

“However, the research highlights that this may not be possible for several people in their 40s, 50s and 60s, which is where equity release could come into play as one potential solution.”

The study also found that regardless of how much is in the bank, the ability to be ‘good’ with money seems to improve with age.

Of those aged 60 and over, eight in 10 believe they are good at handling their money compared to 69 per cent of those in their twenties and 73 per cent of people in their thirties.

But 59 per cent of 20-somethings reckon they are good at saving, compared to 61 per cent of adults aged 60+.

The most common reasons people aged 60 and over believe they have good money habits simply comes from knowing how much is in their account (68 per cent) and knowing exactly where they spend their money (72 per cent).

It also emerged that when it comes to breaking down exactly what each age group splashes their cash on,  those in their twenties are most likely to spend their money on clothes, streaming services, takeaways and going out for dinner or drinks.

But adults aged 50 and over are more likely to be forking out for their energy bills, paying for petrol, the weekly food shop and insurance.

Despite having a healthy attitude towards finances, 53 per cent of those aged 60 and over still worry about money.

More than four in 10 put it down to the fact that they don’t want to get into debt, and a fifth agreed it’s because it’s one of the most stressful things in life.

Although a quarter worry about their income and outgoings because they enjoy living a comfortable lifestyle, and don’t want that to change.

But three in four adults aged 60+ believe they will always have some worries about money, no matter how much or little they actually have.

And 77 per cent admitted they find themselves fretting over how much they have pocketed for their retirement, according to the OnePoll findings.

Half of people aged 60 and above have money for the future put away in their pension and cash savings, while a fifth are relying on investments to keep them going in later life, and 14 per cent are considering downsizing.

Mark Gregory, from Equity Release Supermarket, added: “You spend your entire life building up savings – whether that’s in your pension, cash savings or investments like property – just so you can relax and enjoy your later life retirement years.

“But that doesn’t stop people worrying about money throughout this entire cycle.

“There are plenty of ways to give yourself that added bit of reassurance and equity release is just one option.

“Many people don’t understand the features and benefits of equity release as a possible solution to support retirement, enabling them to subsequently fulfil their financial wishes.

“When we’ve worked so hard to put money away, it’s always good to know there are other options available.

“While it’s not the only option to raise capital for an enhanced retirement, equity release could be beneficial and should always be considered with the right financial advice.”

Breakdown of ‘wealth’ by decade:

Current cash savings

20s – £7,232.11

30s – £10,326.33

40s – £11,039.59

50s – £16,704.68

60+ – £20,588.30

Salary

20s – £23,920.13

30s – £32,561.51

40s – £32,175.52

50s – £28,771.27

60+ – £25,771.91

Debt

20s – £15,950.99

30s – £7,196.98

40s – £7,017.62

50s – £8,315.31

60+ – £4,654.33

Disposable income per month

20s – £269.49

30s – £382.85

40s – £364.25

50s – £362.64

60+ – £382.58

Money put away in savings each month

20s – £243.73

30s – £309.36

40s – £282.28

50s – £259.60

60+ – £264.17

How To Cut The Cost Of Booze At Your Wedding

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Wedding bride and groom1) Avoid champagne. A glass of ‘bubbles’ doesn’t have to be genuine champers – and for those on a budget, I’m reliably informed that a decent sparkling wine tastes better than a cheap bottle of ‘real’ champagne. Most caterers will pre-pour the wine into glasses ready for guests to scoop up, so only connoisseurs will notice that their glass hasn’t been filled up with something that’s actually come from the Champagne region of France.

(Perhaps they will also be too polite to mention the fact that they are in fact drinking cava, the Spanish version, or Prosecco, from Italy.)

2) Mix it up. There’s no need to offer exclusively wine or champers at the reception. Ask your caterer for mixers like Buck’s Fizz (orange juice and bubbles) or more unusual concoctions such as peach juice, cranberry juice, pomegranate juice or elderflower cordial. Mixing one of these with that sparkling wine will make your alcohol go twice as far – and potentially help prevent any embarrassing scenes if a few guests are a bit too, um, thirsty . . . Name the cocktail something personal to the bride and groom and you’ve got an individual tipple with which to wow everyone.

3) However, don’t have too much choice . . . Offer guests beer, wine, soft drinks and that signature cocktail and you’ll keep most people happy. Don’t worry about spirits or other specific drinks.

4) Keep the reception short. Think of your own drinking maths: go to a bar for half an hour and you’ll have one drink, possibly two. Go for an hour, especially in a bar with not enough chairs, and you’ll easily knock back four drinks or more, right? Keep the reception brief and people will need a lot less booze to get by.

5) Do your sums. When making your bar sums, think about volume as well as price. How far will your alcohol allowance stretch? How much do you think your guests will drink in an evening? Those who are pregnant or driving home that night will consume less, for example,
so you can work out a rough drink-per-head figure. After that, talk to the wedding coordinator at your venue to work out your options.

– Some venues will let you bring in your own alcohol to stock the bar, meaning you can choose what you want, and usually secure it at a much cheaper price. If so, a bar that’s free to your guests might be more achievable. (See below for cheap alcohol-sourcing ideas.)

– However, if you have to pay bar prices, and they’re expensive, an all-night free bar might not be an option. No one is going to think any less of you if you can’t afford it, or can put up a bit of cash but not enough for the whole night. If there will be a cash bar, be sure to let people know in advance.

– For another idea, you could consider providing free wine, beer and soft drinks to guests all evening, but ask those who want to have (pricier) spirits or champagne to put their hands in their pockets.

– If you’re having some guests just coming to, say, dessert and dancing or the evening celebration, it’s worth thinking if there’s a way of offering these guests a drink on arrival – perhaps with a waiter holding a tray of wine, beer or bubbly as they walk through the door.

6) Booze cruise. If you are allowed to supply your own alcohol, there are lots of ways to cut the cost. If you’ve time, book a booze cruise to Calais as a pre-wedding day
trip to test wines and load up the car with the best ones to kick off your celebrations. The strength of the euro put the skids on this trip for a few years, but now there are bargains galore once more. The ferry is usually the cheapest way to get to France, so look up ticket prices via a ferry aggregator site such as ferrysavers.com or AFerry.co.uk. Use these to find out who operates the routes you want, and when, and how much cheaper they are
at particular times of the day, week or year. Then, when actually booking, check the direct price first as doing so often triggers a saving as you avoid agency or booking fees. If you have flexible working hours or can take time off work, weekday crossings – especially in on Tuesdays, Wednesdays and Thursdays – tend to be less expensive than weekend ones, but avoid the school holidays if possible. Be aware of HMRC’s tax rules: ‘When arriving into the UK from an EU country you can bring in an unlimited amount of most goods. But you transport the goods yourself; and the goods must be for your own use or as a gift.’

7) Bargain hunt. If you’re buying booze in this country, there are still ways to do so cleverly and cut the cost. Start scouting for bargains as soon as possible – if you get
engaged at Christmas, for example, seek out bargains in the January sales, as long as you can keep the booze in a cool place that will prevent in from spoiling. It’s also worth
having a look at the offers at wine clubs and online retailers such as Virginwines.co.uk.

8) Be vino-savvy. Remember, there’s a difference between cheap wine and good wine and you’ll have to do your research (including tastings, obviously – possibly one of the best bits of wed-research around), as supermarkets and wine discounters will boast about bargains even when you can actually get the same stuff from elsewhere for far less. The experts in specialist stores such as Majestic Wines (majestic.co.uk) will be able to advise you on the best deals and wines to suit your planned meal and budget – and if you’re buying a large number of bottles, they may be able to cut you a deal too. The website quaffersoffers.co.uk also lists current deals at supermarkets and other wine-sellers, as well as having extensive expert reviews which will help anyone who feels nervous about picking drinks for all their guests, courses, etc.

9) Look out for bin ends. Shops are often trying to get rid of last year’s stock for no other reason than they want fresh bottles on their shelves. This also means you can
serve lesser-known bottles of wine, which has another benefit if you’re worried about snobbery. While any vaguely wine-interested people might know that, say, a particular vineyard or vintage was going cheap, an alternative coming from, say, an Australian vineyard might be trickier for them to price.

10) Bulk buy. Make the most of discount stores and cash ’n’ carries such as Costco (costco.co.uk), Booker (booker.co.uk) and Makro (store.makro.co.uk) plus the likes of Aldi and its rivals (aldi.co.uk, lidl.co.uk). These often have decent deals on wine, spirits and mixers. Always try a sample before you buy a large quantity to make sure it suits your taste.

11) Become a vintner. Alternatively, if you’re really into money-saving, you could try making your own wine. Buy a kit – the very specific, extensive instructions, are fairly easy to follow. I once made some of my own red wine that was really drinkable. I admit not being brave enough to serve it at my wedding, but if you’re good at it, can make the wine
(or ale) in advance and find others like it too, it’s an easy way to serve up booze at a fraction of the normal cost.

 

FROM YES TO I DO by Lucy Tobin is published by Heron Books, £9.99.

Published in Kindle or hardback.

 

The Wealthy Women: A Man Is Not A Financial Plan Book Review

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The Wealthy Woman: A Man is Not a Financial Plan: A Woman's Guide to Achieving Financial SecurityThe Wealthy Woman is a book that is sorely needed. I have lost count of the amount of women I have met who are terrible at finance, and that is saying nothing for the ones that really do think that a man is a financial plan. I mean, they’re really not.

Relying financially on a man causes a lot of problems: he could leave you, he could lose his job, he could treat you badly and you  feel you can’t leave because you would be too poor, he could think he has all of the power because he pays the bills…the list goes on. True freedom and happiness comes when a women is financially independent. Can this book help? Yes.

Some finance books can be scary but this one isn’t. In fact it is fun, concise, comprehensive and educational all at once. The author also takes two women, one savvy and one not-so-savvy, and follows them through the years and charts the consequences of their financial decisions. I found this particularly useful. I think a lot of women would read it and it will (hopefully) give them a wake-up call.

The book gives you financial advice for each decade of your life, and where you will end up. It let’s you know that only you can be responsible for your financial future and being an ostrich won’t help at all. It also helps you calculate your net worth, sort out your finances and get out of debt if you have it.

It also covers pensions, saving and investing. In fact, most things are covered in this excellent book. Buy it for yourself or/and the females in your life. It is packed with good advice and tips that could change your life for the better.

 

‘The Wealthy Woman – a man is not a financial plan’ by Mary Waring has worked with 100s of women helping them take control of their finances.

Far too many women find ‘dealing with the money’ a daunting task and leave it in the hands of their partners. However, this can leave them with little control over their own financial lives and sadly, if they then get divorced or are widowed, they are left floundering with little understanding of how much money they have, or don’t have, and what this means to their lifestyle.

By understanding your finances and taking control you can make your money work for you. That’s the message in Mary Waring’s new book ‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’.

“Many women tell me that they simply don’t do maths – and this mental block seems to be an epidemic among women everywhere. However, these are often admirable women with high-level jobs. My message is simple – you are more than able to handle all of your finances,” says Mary Waring.

So, do you want to be more confident about your finances? Do you want to be a wealthy woman?

“Wealthy” will mean different things to different women. It doesn’t necessarily mean “rolling in it” and having so much money that you’ll enter The Times ‘rich list’. It may simply mean you feel confident you will have enough money to do the things that you plan to do in the future, no matter how lavish or frugal a lifestyle you lead.

Mary’s book will guide you on your journey to become a wealthy woman by showing you how taking small steps on a regular basis can lead to a significant increase in your wealth.

If you currently have such a lack of control over your finances that you are too afraid to open your credit card statement at the end of the month, this book will show you how to take control.

“The Wealthy Woman” will encourage you to think about your attitude towards money and your relationship with it.

As Mary says; “It’s easy to be wealthy just as it’s easy to be poor. There’s very little difference in the way you can become either. You are in a position where you can improve your wealth. Whatever your dreams and aspirations around money there is nothing to stop you moving towards those dreams.”

Mary Waring is an independent financial adviser and the founder of Wealth For Women, specialising in financial advice to women going through divorce. She is both a Chartered Financial Planner and a Chartered Accountant, being one of only a handful of advisers in the whole of the UK with this high level of qualification.

Mary is passionate about changing the way women think about finance. Too many women stick their head in the sand and ignore it. Or…rely on a man to sort it for them.

‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’ is available from Amazon and all good bookstores.

For more information see: www.mary-waring.co.uk

 

Sneaky Wedding Costs You Need to Look Out For By Melissa Davis

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Wedding First DanceAlthough your wedding day is supposed to be one of the best of your life, the large cost can often mar this otherwise happy occasion. In the early stages of planning a wedding, the smaller details often get forgotten and the cost can sneaks up on you, making the overall price of the wedding unexpected and often damaging. However, there are ways and means of reducing the overall cost of your wedding and making your special day affordable. Considering the hidden wedding costs you may incur is a positive start in ensuring your wedding remains within your personal budget.

Making a list and using online resources to research the smaller aspects, which you may not have initially considered, will show you where your money can go and how much of it can go there. This will allow you to then find cheaper alternatives to lighten the financial load further. For example, although brides often think of their wedding dress, they rarely remember that alterations often have to be made. Similarly, bridesmaids’ dress and the groom’s tuxedo may need amendments right before the big day. These minor adjustments may seem small, but will set you back money and add up to a considerable amount when added to the multitude of other wedding costs. To prevent costs such as these from sneaking up on you, simply research, estimate the price and factor this into your budget.

 

Keeping track of all the different costs involved in organising a wedding can be tricky, particularly when there are so many hidden expenses that can sneak up on you when you least expect it.

Creating a budget that includes all of the most commonly forgotten wedding costs can help you to avoid last minute problems and make big savings.

Start with a wedding budget

A thorough, realistic budget is the best tool for preventing forgotten, unexpected and unnecessary costs from sneaking up on you during your wedding planning.

Work out how much you can afford to spend in total, make a list of everything you need to sort then decide how you’ll divide your wedding budget.

Try to make your list as detailed as possible, and ensure that you set aside enough for each item. Recently married friends, wedding magazines and websites are all good sources of advice.

Suddenly realising that you forgot to budget separately for the bride’s shoes, veil or accessories after you’ve spent your money on an expensive dress is exactly the sort of stress you want to avoid as your big day approaches.

You should also look at prices or ask for quotes early on to ensure that the money you set aside for each cost is realistic.

Wedding costs everyone forgets

However carefully you plan your budget, there always seems to be something extra that needs to be organised and paid for before the big day arrives.

Here are some of the most frequently forgotten costs – make sure you remember to include them:

  1. Registration costs to make your marriage official.
  2. Stationary and postage costs for sending save the date cards, invitations and thank you cards.
  3. Accessories and alterations to suits and dresses for the wedding party.
  4. Including the bride and groom in the head count for the reception.
  5. Favours, thank you gifts and tips.
  6. Extra charges on your bill from venues and suppliers, including delivery fees, corkage, VAT, overtime and service or cleaning charges.
  7. Printing and framing photos, and buying wedding albums.

Deciding what to spend

Once you have a list of everything you need to pay for, you can start deciding how much you want to spend on each item. The way you do this should depend on your overall budget.

If money truly is no object, you can simply start arranging.

If, like most people, you have a set amount of money to spend on your wedding, perhaps from your savings or a parental contribution, you should start from this upper limit and divide it into portions for each of your expenses.

You can easily create a spreadsheet, or adapt a general expenses template, to monitor your spending. Keep track of any overspends, which you should try to make up for by spending less on other items, or underspends, which will give you more to spend elsewhere.

If you’re trying to keep costs to a minimum then prioritise your list into must-haves and maybes so that you can make sure you can afford the aspects that are most important to you before paying out for things that are ‘nice to have’ but not essential.

Avoiding unnecessary wedding extras

If you are working with a limited budget, it’s possible to make some cuts to the normal list of wedding necessities.

For example, if you can choose a venue where you can hold both the service and the reception, you might be able to get a better deal, and you can also cut down on transport costs.

Weddings held out of peak season or on any day other than a Saturday will usually be cheaper because there’s lower demand so this is worth investigating.

It can also be a good idea to look closer to home for your venues, since you can avoid high travel costs or needing to pay for overnight accommodation.

You might also be able to cut down costs by limiting the number of guests you invite – either in total or just to the wedding breakfast. Having a buffet and/or a pay-for-your-own-drinks bar can also help.

You can always give people the chance to celebrate with you at a distance with a live online broadcast of the event, no matter where the wedding takes place.

Another good way to cut down on your costs is to consider doing more of the work yourself or asking friends or family to gift their time as a wedding present.

Why pay for ready-made wedding favours when you can put together something more personal at half the cost? Why spend your wedding day in an anonymous hotel when you have a huge garden where you could put up a marquee and celebrate in a place that means something to you?

Minimising unexpected costs

To give yourself a little leeway make sure you set aside an amount to cover unexpected costs, ideally about 10% of your total budget.

If one of your suppliers lets you down, an unexpected guest turns up, something is broken or turns out to be unsuitable, or the weather forces you to change your plans, you need to have some emergency funds available to deal with it. Another option is to take out wedding insurance to cover some of your major expenses.

It might not be possible to avoid all unexpected costs, but at least you can be prepared for them, and if it turns out that you never need to use this money, it can give you something extra to spend on your honeymoon.

The wedding price hike

Another particularly sneaky cost that you might not expect when you set out your wedding budget is the sudden bump in prices that can occur as soon as you mention that you’re ordering for a wedding.

It doesn’t matter if you are ordering flowers, a cake, or transport, as soon as suppliers find out it’s for a wedding, they often assume you can easily be coerced into spending more to make your day perfect.

One of the best ways to avoid this sneaky extra cost is to tell some little white lies and order things for a “party” rather than a wedding.

It might not work if you want a traditional tiered wedding cake, but if you are looking for something less conventional, or ordering something non wedding specific, it could help you to get some lower prices.

RETIRED NATION IS SITTING ON £96.41 BILLION OF PERSONAL DEBTS

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Everyone thinks it is just the young who are in debt and struggling, but new research has shown that the retired are having a tough time too. Here are some stats, and a checklist to improve your living standards and boost your income.

· Average retired person has £8,180 of personal debt

· 178,000 retired people have personal debts of £100,000 or more

New research from retirement income specialist MGM Advantage reveals that the average retired person has £8,180 of personal debt, collectively equating to a staggering £96.41billion. The average level of personal debt for a retired man is £9,007, compared to £7,350 for a retired woman.

Around 178,000 retired people each owe £100,000 or more, and just over 729,000 owe between £25,000 and £100,000. Only 57% of the retired population has no personal debt.

Amount of personal debt

Number of retired people

Between £1 and £5,000

2.486 million

Between £5,001 and £25,000

1.094 million

Between £25,001 and £100,000

729,000

Over £100,000

178,000

None

6.776 million

Don’t know

523,000

Aston Goodey, Director, MGM Advantage said: “These figures are alarming. As the cost of living continues to put pressure on household finances, many retired people will feel under growing pressure to take on debt to fund everyday living.

“There are things you can do to minimise the chances of funding your retirement through debt. It is vital that people shop around for the best annuity rate to maximise the income they receive. The difference between the best and worst rates can be as much as 50%2. People should also make sure they are claiming all of the State benefits to which they are entitled and also ensure that they have accounted for all old savings accounts and pension plans.”

On a regional basis, the average retired person in Wales has personal debt of £13,857, which is the highest in Britain. This is followed by £11,758 in the South West, and £11,255 in London.

Region

Average amount of personal debt per retired person

Wales

£13,857

South West

£11,758

London

£11,255

West Midlands

£9,417

Scotland

£8,890

North West

£8,094

South East

£7,390

Yorkshire and Humberside

£7,353

North East

£6,511

Eastern

£4,759

East Midlands

£4,164

Northern Ireland

*Sample size too small to report

MGM Advantage has published a checklist of things for people to consider when making important decisions at retirement:

1. Claim all state benefits to which you are entitled, to check, go to www.direct.gov.uk

Data suggests that pensioners are missing out on up to £5 billion a year in unclaimed pension credit, housing and council tax benefits, as well as attendance and disability living allowances.

2. Keep a track on any old personal or occupational pension arrangements, if you think you might have lost track of an old pension arrangement, you can check via the Department for Work and Pensions tracing service here http://www.thepensionservice.gov.uk/

3. You can check if you have any old savings accounts which you might have lost touch with over the years by going to http://www.unclaimedassets.co.uk/

4. Don’t just accept the annuity rate offered by your pension provider. You should shop around for the best rate and you might qualify for an enhanced rate for pre-existing medical conditions

5. Seek professional financial advice as this will help you get the best product and rate for your individual circumstances, to find an independent adviser go to http://www.unbiased.co.uk/

6. You may have old National Savings accounts or Premium Bonds, to check for unclaimed prizes please go to http://www.nsandi.com/files/asset/pdf/Tracing_brochure_v03.pdf


For further information please go to www.retirementnation.co.uk

Who To Notify When You Move House

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Moving house is stressful at the best of times, so here is Frost’s guide to who to notify when you move.

Friends and Family.

TV Licence.
Your TV licence only covers you at your current address and won’t move with you automatically. Update it at tvlicensing.co.uk or by post.

Driving Licence.
Update it online at direct.gov.uk. Your Vehicle Registration documents will have to be returned to the DVLA. They will then send you a new one with your updated details.

Council Tax.
Tell your local council when you move out, and when you move into your new home. That way you will be billed correctly.

Mail.
You can get your mail redirected online at royalmail.com or by going to your local post office. It takes five working days so give the appropriate notice.

Doctor and Dentist
Search for practices near you new home by going to NHS.uk and entering your post code. You will have to register with the new practice

Financial Service Provider.
Banks.
Building societies.
Store Card companies.
Insurance companies.
Savings and investments.
Pension company.
Credit card company.
Do this as soon as possible. You don’t want your financial details going to strangers.

Magazine and other subscriptions.
Let them know as soon as possible. They usually need a month’s notice.

Utility Provider
Water
Gas
Electricity
Phone (and mobile phone)
Request a final bill before you move and tell them the date. Take a reading from your old home before you leave and at your new one when you move in. Just in case.

Cable/Internet providers.
If you are sticking with your provider let them know your new address straight away to minimise disruptions to your service.

Electoral register
You will need to register to vote in your new area. Go to aboutmyvote.co.uk and print off a form. Fill it in and send it to your local electoral registration office.

Finally, make sure you have signed the contract for your new home before changing things. Just in case things go wrong.