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The Beginner’s Guide to Money Mastery (Without the Headache)
Summary: Establish a Financial Foundation – Begin by assessing your current financial situation by tracking income, expenses, debts, and savings. Set clear, achievable goals and create a flexible budget, such as the 50/30/20 rule, which can help manage finances effectively. Build Financial Resilience – Develop an emergency fund starting with ~£500, aiming to cover 3-6 months of expenses. […]
5 Reasons to Simplify Your Family Finances in 2025
Summary: Enhance Mental Well-being – Streamlining finances by consolidating accounts, automating payments, and establishing clear budgets can alleviate stress and foster open discussions among family members. Prepare for Emergencies – Organising financial information and utilising tools like the Know Your Dosh app ensures quick access to vital resources during unexpected events. Accelerate Financial Goals – Simplified financial management provides clarity, helping […]
The Emotional Benefits of Estate Planning
Summary: Achieve Peace of Mind – Estate planning provides clarity and control over your future, ensuring your wishes are documented and your family is prepared, which can alleviate anxiety about the unknown. Strengthen Family Bonds – By addressing sensitive topics proactively, estate planning fosters open communication, reduces potential conflicts, and builds trust among family members. […]
The Financial Benefits of Early Estate Planning
Summary: Minimise Inheritance Tax Liabilities – Initiating estate planning early allows individuals to leverage tax-efficient strategies such as gifting assets, establishing trusts, and utilising available exemptions. Ensure Financial Security for Loved Ones – By proactively organising your estate, you can provide clear directives for asset distribution, set up guardianship arrangements for minors, and create financial […]
Why Waiting to Plan Your Estate Could Be a Mistake
Estate planning isn’t just for the elderly or the wealthy—it’s a step everyone should take to protect their family’s future. Shockingly, a 2021 study by Canada Life revealed that 59% of UK adults don’t have a will or any sort of estate plan in place. This leaves families vulnerable to unnecessary financial and legal complications […]
Know Your Dosh: Startup of the Year Nominee at Plus X Awards
We are absolutely thrilled to announce that Know Your Dosh has been shortlisted for the Startup of the Year Award at the prestigious Plus X Innovation Slough Changemaker Awards. This recognition marks a significant moment in our journey as a young company dedicated to helping families across the UK take control of their finances. What […]
Inheritance Tax Rules for Non-Residents Owning UK Property
Summary: UK Inheritance Tax Applies to Non-Residents’ UK Assets –Non-residents owning UK property are subject to a 40% inheritance tax (IHT) on assets exceeding the £325,000 nil-rate band. This includes properties held directly or through offshore entities, as legislative changes since 2017 have closed previous loopholes. Upcoming Shift to Residence-Based IHT in 2025 – Starting April […]
What Assets Are Exempt From Inheritance Tax in the UK?
Summary: Utilise Key Inheritance Tax Exemptions – Assets such as gifts to spouses or civil partners, charitable donations, and certain business or agricultural properties may be exempt or qualify for relief from Inheritance Tax (IHT). Leverage Annual Gift Allowances – Individuals can give away up to £3,000 each tax year without it being added to […]
How to Include Digital Assets in Your Will in the UK
Summary: Comprehensive Digital Inventory – It’s crucial to list all digital assets, including online accounts, digital currencies, and social media profiles, ensuring they are accounted for in your estate plan. Appointing a Digital Executor – Designating a trusted individual to manage your digital assets can help in executing your wishes effectively and in accordance with […]
What Is the Best Budgeting App To Replace Mint?
Summary: Top Alternatives Identified – With Mint’s discontinuation, apps like Know Your Dosh and PocketSmith are highlighted as effective tools offering features such as expense tracking, goal setting, and financial overviews. Feature Comparisons – These apps provide various functionalities, including customisable categories, and real-time syncing with bank accounts, catering to diverse budgeting needs. User Experience […]