Experts say 2018 is likely to be a challenging year for investors with many headwinds and uncertainties.
Volatile market conditions are expected and deciding what to do with your earnings, what to invest in and how to avoid tax pitfalls will be as important as ever.
* Estate PlanningMake sure lasting powers of attorneys are in place so that in the event of your incapacity a trusted family member or friend can look after your financial affairs and make decisions with regards to your health.
* Credit CardsSave money by reviewing your credit card provider and where possible consolidate to a provider with a zero rate of interest on balance transfer/new purchases.
* Holiday SpendingTake the stress out of exchanging cash (especially at the airport where rates are often the lowest) or paying unnecessarily high fees with your bank/credit card provider and consider a focused ‘travellers’ credit card for low fees and the best available exchange rate.
* Tax CodesCheck your P60 and tax code each year to make sure you are paying the correct amount of tax. Contact the HMRC to query any items that do not look right on your tax calculation.
* Premium BondsIf you are a basic rate tax payer and have £20,000 invested in a cash ISA paying 1.3 per cent per year there is a 0 per cent chance that premium bond will beat this.