Are You Covered? This Company Helps You Secure Your Family’s Future

Life comes at you fast.

At 5 years old, Derick Davis’ life changed forever when his father unexpectedly died.

Though he had a life insurance policy, the coverage wasn’t enough to help Davis’ mom keep their family afloat.

When reflecting on his mom’s financial situation, Davis, now 37, says, “She could have been in a better one. She did save some money, especially a lot of the Social Security survivor benefits … but it wasn’t enough.”

Since then, Davis’ life has changed significantly: He lives in Virginia with his wife and two boys, and he works as an assistant professor at the University of Virginia. After completing 13 years of college, he earned a PhD — and racked up thousands of dollars in student loan debt. On top of paying that down, Davis and his wife have two college educations to save for.

With so many futures hanging in the balance, Davis realized he wasn’t doing enough to keep his family protected.

Just like his dad, he had life insurance, but only enough to cover a couple of years’ salary.

“If money’s tight now,” he says, “imagine what it would be like if your income is gone when you’re not around.“

One of the hardest parts about choosing a life insurance policy is trying to figure out just what kind of policy is the best fit for your situation. What if you sign a 15-year policy and something changes?

Ladder gets that. The company makes it easy to keep your family protected, even when your needs change down the line. That’s why it offers term life insurance policies that can be adjusted at any time (i.e. increasing or decreasing the coverage amount), or even cancelled without any additional charges.

Secure Your Family’s Future the Simple Way

Your life is dynamic, and your life insurance coverage should be able to change with it. That’s why Ladder offers flexible coverage.

You can use Ladder’s coverage calculator to figure out how much coverage you should have. Then complete their quick online application in only a few easy steps:

• Take about five minutes to answer questions about your health and life, such as your activities and medical history.

• You’ll get an instant decision on coverage, and there’s no risk. Many people receive an offer they can accept immediately. In some cases, simple lab work might be required, but that’s easy, right?

• When you apply, you’ll need to enter your driver’s license and Social Security number, which is true for any life insurance application. The company needs this information to verify your identity and prevent fraud. It uses a secure website and will not sell your private information.

• There are no policy fees, and you can cancel anytime. There’s even a 30-day money-back guarantee.

After seeing how simple the process was, Davis and his wife each got a policy through Ladder that covered them both at 10 times their current income.

One of the perks? Davis says their monthly payment is less than their cell phone bill.

“I thought it was going to be hundreds of dollars a month, and that just wasn’t the case.”

Now, he and his wife can sit back and relax, knowing Ladder will help provide financial support for their family if something ever happens to them.

“It makes me feel that I’m doing the right things in order to give my kids the best chance if something should happen,” he says.

Your life is full of changes. With Ladder, you can get life insurance that can change with you.

Farrah Daniel is an editorial assistant at The Penny Hoarder.

The statements and testimonials presented here were provided voluntarily and not in exchange for any payment, and are applicable for the individual(s) mentioned above. Individual results and experiences may vary.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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The Penny Hoarder Insider Will Deliver Tips and Deals Straight to Your Phone

Last year, we launched our exclusive text message alert program, The Penny Hoarder Insider.

Since then, thousands of people have signed up to receive timely updates and tips on the latest and greatest ways to make, save and manage their money.

Each week, we send out 1-3 texts letting you know about money-making opportunities, work-from-home job openings, actionable tips that can help you fix your financial situation and timely information on topics like budgeting, banking or managing your 401(k).

To subscribe, simply click here or text PENNY to 98582.

We know life is busy and your phone is your private space, so we won’t inundate you with useless information; we find value in everything we share, and we think you will, too.

Thanks for signing up, Insider!

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

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Dear Penny: I’m in So Much Debt My Teenage Son Is Afraid of Student Loans

Dear J.,

Your debt has consumed you. You probably thought you hit your lowest financial point years ago, when you were a new mom; then you probably thought you were at the bottom again when you defaulted on your student loans. And now, here you are with the added burdens of medical debt and your son’s misconceptions about how investing in college could derail his future.

There’s a lot you can’t change right now. But one area where you can make a major change right away is in how you and your son discuss his options for higher education.

Your family’s income is not the sole determining factor for how much financial aid your son is eligible to receive. The size of your family, for instance, will also be considered. Applying for federal student aid is a must-do if your son wants to pursue college, as it’s the first step toward figuring out what sort of grants, loans and work-study programs will be available to help him cover the costs.

Once he receives financial aid offers, he can truly evaluate the affordability of school. He may have to start at community college or another lower-cost option, but he shouldn’t count out college solely because of your family’s financial struggles.

Next, it’s time for you to get help sorting out the options for your own finances. Calling for assistance from an impartial third party can help you make sense of your situation instead of spinning your wheels and feeling desperate. A debt counselor in your area can review your credit report and provide free educational resources that can help. They can also help you enroll in a debt management plan that will make your debt easier to manage.

In extreme cases, a debt counselor may recommend that you consider filing for bankruptcy, which can discharge some of your debt. There’s a lot of shame around the idea of doing this, but it could be the lifeline you need to find stability for your family.  

And that may be the hardest part of taking your next financial step: letting go of the shame. More people than you can possibly imagine have struggled to gain financial stability, let alone success. I won’t be glib and say you’re in good company. But you at least have company.

You may be surprised at how understanding your peers are as you seek help and start to work your way out of debt.

Have a tricky money question? Write to Dear Penny and you might see your question answered in an upcoming column.

Lisa Rowan is a personal finance expert and senior writer at The Penny Hoarder, and the voice behind Dear Penny.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

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The Best SEO Tools the Pros Really Use in 2019

When I first started using SEO tools and tried to figure out which one was right for me, I was pretty confused.

There are a bunch of tools in the space, they seem to overlap a lot, and there are way too many specialist tools to sort through.

And which one’s have data that I can trust?

After using all these tools for years and years, I’ve come to realize there are only a few choices you need to make.

First, there are three main tools in the market: SEMrush, Ahrefs, and Moz. Everyone uses one of those three. We’ll get to our recommendations for these down below.

I call them the SEO workhors — and all three of them qualify as one of the best seo tools. These workhorses carry the bulk of the weight in any SEO program, but you only need one SEO workhorse.

Any serious SEO program absolutely needs a SEO workhorse. The rank tracking, keyword research, and link analysis are all too difficult or time consuming without one. I’ve tried to get away without paying for them; that was a mistake. I could have gained a lot more traffic by using one of these tools from the beginning.

After you pick your main SEO workhorse, I highly recommend you take full advantage of the free tools. Google Analytics and Google Search Console are both world class and I consider them both required tools in day-to-day SEO operations. Plus they’re free.

Beyond that, there are a few specialty tools worth picking up if you’re doing those types of tasks.

Pretty simple all-in-all.

Here’s how your decision process will go:

• Pick SEMrush, Ahrefs, or Moz as your SEO workhorse.
• Install a SEO plugin if you’re on WordPress.
• Add an advanced SEO crawling tool if your site is massive.
• Add an outreach tool if you’re doing link building.
• Get the free SEO tools in place: Google Analytics and Google Search Console.

Best SEO Tool for Beginners: SEMrush

If you’re new to this whole SEO thing, I highly recommend that you go with SEMrush.

Compared to the other “SEO workhorse” tools, it’s by far the easiest to use. Ahrefs definitely has a learning curve and Moz has never clicked with me — I can never understand where to find anything.

SEMrush’s rank tracking reports are also the best in the industry. I check our reports every morning. Within a few minutes, I feel like I’m in complete control of what’s going on. All the other tools spread stuff out all over the place. Or the reports coddle me too much and don’t have enough density. SEMrush has that perfect balance of usability and depth with its reporting. You’ll have everything you need without getting overwhelmed.

SEMrush has all the other essential parts of a SEO workhorse: link analysis, keyword research, and competitive analysis. All of them are more than good enough to hold their own against the other SEO workhorses.

Just for Quick Sprout fans, SEMrush is offering a 7-day free trial, which they don’t normally do. In order to give you full access to their pro plan, they will ask for a credit card before starting the trial.

Best SEO Tool for Advanced Folks: Ahrefs

If you’re more comfortable with all this SEO stuff and want a tool to really flex your skills, go with Ahrefs.

They’re the “new” SEO kid on the block and I have to admit, their tool has a ton of depth to it. Every time I log in, I find a hidden feature or report that makes me giddy.

That’s also the one weakness, I’m still discovering new features I had no idea existed. Ahrefs doesn’t hold your hand at all. For an SEO expert, it’s liberating. The tool is denser than granite. But I’ve watched SEO beginners try to get their heads around it and they really struggle. After poking around a bit, they stop logging in altogether.

Ahrefs is perfect if you know exactly what you want and are determined to get it.

On specific features, I prefer the link analysis in Ahrefs over the other tools. So if you’re planning on doing a lot of link building, it’s worth getting through the learning curve.

Best SEO Plugin for WordPress: Yoast

There are probably thousands of SEO plugins for WordPress.

Only one of them matters: Yoast.

I consider it a required plugin on any WordPress site. It automates a ton of SEO tasks and makes things like meta titles and descriptions super easy to update.

I don’t spend any time on this decision — I install Yoast and move on.

Just use the free version of Yoast; there’s no reason to upgrade.

Check out our full list of recommended SEO WordPress plugins here.

Best SEO Crawling Tool: Screaming Frog SEO Spider

There’s one type of SEO task that the main SEO tools struggle with: crawling and auditing huge sites.

When you have a site with thousands of URLs, there’s just no way to go through the site on your own. And the audit tools in SEMrush, Ahrefs, and Moz are pretty basic.

For a massive site that needs a huge audit, a dedicated crawling tool makes the task so much more manageable. The entire UI and all the workflows are built around having to manage thousands of pages at once. There’s no extra clicking or back and forth. And the tool automates as much of the process as possible. You’ll instantly find all the broken links, missing meta descriptions, bad redirects, and duplicate content on your site.

Screaming Frog SEO Spider is our preferred site crawler. It’s been around the longest and has site crawling dialed.

You didn’t hear this from me, but since site audits are usually a one-and-done type project, you can sign up for the tool, pay for a few months while doing your site cleanup, then cancel it once you’re done.

The only folks I know who have long-term subscriptions are SEO consultants who do multiple audits every month for clients.

Best Outreach Tool: Pitchbox

I remember the days when you could get away without doing any link building in SEO. That’s how we built the KISSmetrics marketing blog to over 700,000 visitors per month. We just posted a ton of great content over an 8 year period.

Nowadays, that’s not nearly enough. SEO has just gotten too competitive.

My rule is that if I’m not willing to do outreach for link building, I shouldn’t be focusing on SEO for traffic. I should find another strategy to grow my business.

I’ve done a bunch of outreach projects out of Gmail and a Google Sheet. It’s such a pain. Especially when a team is involved. Keeping track of who contacted who, updating last status, remembering to send follow-ups, coordinating and updating templates, it’s all a massive pain that takes up way too much time.

And outreach is painful enough, no reason to make it any harder.

These days, I always use an outreach tool when link building. I don’t even consider the option of skipping it. A good outreach tool automates the majority of the outreach. It’s a game-changer. I used to hate outreach with every fiber of my soul, now I don’t mind it.

Our favorite tool for outreach is Pitchbox. It’ll find contacts for you, automate email follow ups, and keep track of all your outreach contacts. Seriously, use it.

Make Use of Google’s Free Tools

Google Analytics is our favorite website analytics tool. And the search data in Google Search Console is a gold mine. Don’t bother trying to pay for any of the paid analytics tool. Google Analytics gives you more than you’ll ever need and it’s completely free.

We have a guide on how to set up Google Analytics here.

After you get Google Analytics installed, go set up Google Search Console too. It’s completely free and you’ll get access to your data once Google Search Console verifies your Google Analytics account. Other than the authentication to prove that you own the site, there’s nothing else you need to set up for Google Search Console.

Google Search Console is the one and only place to get real keyword data from Google. Every other tool is a best guess. It also records all the errors Google picks up on your site, tells you what’s been indexed on your site, and gives you impression and click-through data on all your keywords. I can’t overhype it enough — use it.

We never work on websites without installing both of them and they’re completely free. Even if they were paid, they’d be worth every penny.

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Get Free Pancakes at IHOP on March 12 to Celebrate National Pancake Day

Pancakes.

Kids love ‘em, adults love ‘em.

They’re good for breakfast, lunch and dinner. They’re good for a snack or dessert. They’re delicious topped with butter, syrup or strawberries and whipped cream.

Whether you’re a carb aficionado or you simply like free food, get your forks ready: March 12 is IHOP’s annual National Pancake Day celebration, and that means you get free pancakes.

How to Get Free Pancakes

Every year since 2006, more than 1,500 IHOP restaurants across the U.S. and in Canada have offered customers a free short stack of three buttermilk pancakes on National Pancake Day.

To get your free pancakes, visit your local IHOP on March 12, 2019 between 7 a.m. and 7 p.m. — hours may vary by location.

The fine print says you can order one short stack of pancakes per guest while dining in the restaurant — no to-go orders allowed.

The deal is available while supplies last, but since it’s the International House of Pancakes, it’s a safe bet the pancake supplies will hold out for quite a while. Still, you may want to prepare for a longer wait than normal since free stuff has a way of attracting a crowd.

Guests are not required to pay anything for their short stack, but IHOP does ask them to consider making a donation to the Children’s Miracle Network, Shriner’s Hospitals for Children or the Leukemia and Lymphoma Society.

Kelly Gurnett is a freelance blogger, writer and editor who runs the blog Cordelia Calls It Quits, where she documents her attempts to rid her life of the things that don’t matter and focus more on the things that do. Follow her on Twitter @CordeliaCallsIt.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

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Saving Money with Homemade Pizza and Family Movie Night

It’s kind of a Friday night tradition for our family to have pizza and watch a movie together. For our family, the regular plan is to make or order two large pizzas so that we have plenty of leftovers for weekend lunches. This typically costs somewhere around $30 if we buy it at the store. However, if we make it at home, the price drops to somewhere around $10 for both pizzas combined. That’s a $20 savings, and thus it’s well worth discussing here as a cost saving measure.

It’s worth noting that we don’t make pizza every single Friday; sometimes we do order it when we’re under a particular time constraint. Sometimes there are activities late Friday afternoon or early evening that interfere with actually making the pizza, which does take a while. Having said that, if one plans ahead, you can definitely make a pizza ahead of time and store it in the fridge, to be popped in the oven when needed.

I thought it might be interesting to run through our pizza preparation process, digging into exactly how much it costs, and offering up a simple procedure you can follow yourself.

Let’s dig in.

First of all, the only pieces of equipment you really need to make a homemade pizza are a large bowl of some kind (even a small pot will do), an oven, and a pizza pan. Pizza stones are nice but I don’t find them necessary to make a very good pizza.

My preferred pizza pan is this AirBake 15.75″ non-stick pizza pan that features a bunch of small holes on the bottom, which seems to help make the crust firmer on the bottom. I rarely run into uncooked crust in the middle with this pan (with one minor exception, which I’ll note later).

My basic recipe for one very large pizza that covers that whole pan has the following ingredients:

• 1 3/4 cups warm water
• 1 Tbsp. extra virgin olive oil
• 2 tsp. kosher salt
• 1 1/2 tsp. dry yeast
• 1 1/2 tsp. granulated sugar
• 4 1/4 cups flour (see note below)
• (Optional) 1-2 tsp. each oregano, basil, garlic, black pepper, or other seasonings, to taste
• Sauce, toppings, and cheese of your choice

I’m honestly not sure where I originally found this recipe, but it is my standby recipe. It’s worth noting that I usually make two crusts at the same time, so I double the recipe and divide it in half just before baking.

A note on the flour: all purpose white flour works just fine for this, but you can certainly use other kinds or mix flours together. I like to use about 1 cup of rye along with 3 1/4 cups all purpose white flour.

I start by just pouring the warm water into a bowl, then adding the olive oil, salt, yeast, and sugar and stirring it a bit. If I’m using seasonings, I add them now. Then, I add the flour and stir until everything turns into a wet dough. It should hold together in a single wet ball, but be really sticky.

At this point, I ask myself what kind of crust I want for the pizza. Do I want a thick, almost bread-like, doughy crust? If that’s the case, I stop stirring the wet dough and just leave it as it is. I simply cover it and let it rise in the bowl for about three hours, then I put it in the fridge.

If I want a thinner crust, I’ll add enough flour so that it just barely sticks to my hands, then I knead it for a few minutes and return it to the bowl and cover it. If I want a really thin crust (it’s not cracker-thin, but pretty thin), I immediately put it in the fridge (still covered); if I want kind of a medium crust, I let it rise for an hour or so, then I put it in the fridge (still covered).

Regardless of the crust thickness I want, I take it out of the fridge half an hour before I intend to start baking and let it sit on the table to rest and rise just a bit and warm up to room temperature. As soon as it comes out of the fridge, I punch down the dough thoroughly if I want it to be thin and punch it down a little if I’m aiming for medium; I leave thick crust alone.

I preheat the oven to 450 F, then I stretch out the dough into a round pizza shape on the pan. I bake the crust alone for just a couple of minutes if I want a thin crust, four minutes if I want a medium crust, and six minutes if it’s really thick. Then, I cover the pizza with toppings and return it to the oven, baking it until the top of the pizza is just starting to brown in spots, which usually takes about 16 minutes in our oven. I take it out, let it rest for maybe five minutes, and then slice it and serve. This pizza usually has a crisp bottom, and is breadlike on top if you’re aiming for a thick crust.

If you want, you can assemble the whole pizza in advance, even the night before. Just do everything except for the final bake, then put the pizza directly in the fridge, still on the pizza pan, covered in foil or plastic wrap. Pull the pizza out about half an hour before you want to bake it, if you can.

This pizza recipe turns out pretty great every time I make it. You can make the dough in advance or the full pizza in advance according to your needs.

So, what does it cost?

1 3/4 cups warm water – free, for all intents and purposes
1 Tbsp. extra virgin olive oil – $0.06, as a 750 mL container of olive oil can be bought for $5.99
2 tsp. kosher salt – $0.01, give or take, as a 26 oz. container of salt can be bought for $0.89.
1 1/2 tsp. dry yeast – $0.20 to $0.35, depending on the yeast brand and quantity
1 1/2 tsp. granulated sugar – $0.01, as I can find it for $0.72 per pound
4 1/4 cups flour – $0.40, as this is about 1.25 lbs. of flour and I can buy all purpose flour in a 25 pound bag for $7.76.

The total cost of the dough for a very large 16″ pizza is about $0.70.

What about the toppings? It’s going to vary widely depending on what you buy.

For pizza sauce, you can mix a 6 oz. can of tomato paste, a 15 oz. can of tomato sauce, and whatever seasonings you like to taste (oregano, garlic powder, onion powder, salt, pepper, and basil will cover it; you only need 1/2 tsp of each, but you can add more if you like more flavor). The total cost of ample sauce for the pizza is less than a dollar, based on prices from my local grocer.

For cheese, I strongly recommend buying a solid piece of the cheese you prefer and grating it yourself. Not only does it taste better, it’s usually cheaper, though you should always check the prices. My estimate is that I use two cups of shredded cheese on one of those 16″ pizzas, which ends up costing about $2.

So, for a 16 inch homemade cheese pizza, the total price is about $0.70 for the crust, $1 for the sauce, and $2 for the cheese, or $3.70. This would be a large or extra large pizza at most places, and you can easily make a thick crust version of this to make it super filling.

Additional toppings – whatever you desire – are going to cost more. We usually have one cheese pizza and then one pizza with additional toppings, whether it’s pepperoni or sun dried tomatoes or a mix of things. Let’s say those extra toppings cost $2. In that case, our two large pizzas, huge enough to feed a family of five both for dinner and for lunch the next day, costs about $9.40 to make. Yes, it might cost a little more than that depending on your toppings, your cheese quantity, and so on, but that’s roughly what it costs us.

In my town, I could not get anything approaching that quantity of pizza for less than $25. If I were to go to a neighboring town and try to get pizza I liked as well as my homemade, I’d be spending at least $35 (two pizza joints I really like pop into my mind, and I think the cheaper of the two would get me to an equivalent of my homemade pizza for $35).

Thus, by my math, I’m saving somewhere around $20 by making my homemade pizza versus buying pizza from somewhere else every single “pizza and movie night.” My homemade pizza usually generates more leftovers because it’s more filling, but I’ll still call it a wash.

Here’s the truth: Unless there’s a scheduling reason why I can’t make homemade pizza, that’s going to be our option for pizza night. It tastes so much better and costs so much less than the pizza available near us.

If you regularly have a “pizza night” at home, try making pizza yourself using this recipe. It’s pretty easy to do and is far cheaper than buying it elsewhere. One of these pizzas will easily feed two hungry adults and generate a lot of leftovers for future meals.

Good luck!

Read more by Trent Hamm: 

• How to Reduce the Urge to Eat Out
• Using What’s Already in Your Pantry to Make Amazing ‘Free’ Meals
• 10 Inexpensive and Quick Ways to Liven Up Cooking at Home

The post Saving Money with Homemade Pizza and Family Movie Night appeared first on The Simple Dollar.

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Here’s How to Start Saving Money — Even If You Don’t Have Room in Your Budget

Should you remortgage before Brexit?

Brexit is just around the corner and while it is impossible to predict exactly what will happen, the impact on interest rates is a concern for mortgage holders.

Interest rate rise

The Bank of England raised interest rates in August 2018 for the second time in 10 years to 0.75%. It has hinted that interest rates could go even higher if the UK manages a smooth exit from the European Union, while its forecasts suggest rates could rise to 1.5% over the next three years. 

A lot will depend on the nature of Brexit and the impact on the economy of the departure from the EU. While it is difficult to predict if there will be a rate rise, most experts agree that if the interest rate goes up it will be gradual.

Should you fix?

Remortgaging also allows you to lock in to a fixed rate that can protect you from any rises in the interest rate.

If the Bank of England raises interest rates, there is a good chance you could see your monthly mortgage payments go up if you are on a variable rate mortgage. While fixed-rate mortgages tend to be more expensive, they can provide you with security against a rate rise. By fixing, you can keep your repayments the same so that any future rate changes won’t catch you off-guard.

Could a 10-year fix help Brexit-proof your mortgage? If you are worried about Brexit, taking out a long-term mortgage could give you peace of mind regarding a possible rise in interest rates.

Plenty of good deals

Financial information website Moneyfacts shows that the number of 10-year fixed-rate mortgages has gone up from 16 to 150 over the past five years, while the average rate fell from 4.61% to 3.05%.

For borrowers with a 40% deposit, there are plenty of good deals available.

TSB has a 10-year fix at 2.29% for a 60% LTV, although it comes with a fee of £995.

Coventry Building Society will let you fix your mortgage at 2.35% for 10 years and lend up to 65% of the value of the property. However, it comes with a fee of £999.  

David Hollingworth, mortgage expert at broker London & Country, says: “It’s possible to fix for as long as 10 years and rates are attractive. That would see the homeowner lock in their interest rate at what is a low rate and give them long-term peace of mind.”

However, he warns that fixed rates will typically tie the borrower in with hefty redemption penalties – the fees charged by a lender if you repay a loan earlier than the agreed term – during the fixed-rate period.

He adds: “It can make sense to lock in only for what is a foreseeable timeline. A long-term fix may work well for those who know they are staying put for the long run, but many people will be attracted by deals that fit in with their timelines more appropriately. “As a result, five-year fixed rates have been more popular but still offer medium-term security rather than the shorter-term rates.”

FEATURED PRODUCT

TSB 10-year fixed-rate mortgage 2.29%

TSB’s 10-year fix comes with a rate of 2.29% for buyers with a 60% LTV

Based on a £100,000 mortgage repaid over 15 years on a £200,000 property, this mortgage costs £662 a month – £7,909 per year over the fixed period – with no fees and £300 cashback.

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Kick-start your children’s savings

Help younger members of the family build a nest egg for their future with a Junior Isa

Individual savings accounts aren’t just for adults. A Junior Isa (Jisa) can also be a great way to save for children or grandchildren without the worry of tax eating away at their returns.

In the current tax year (2019/20), you can pay a maximum of £4,368 into a Jisa (up from £4,260 last year) without paying any tax on its growth.

Another plus for parents is that the money cannot be accessed until their 18th birthday. Of course, you won’t be able to guarantee how they will spend it once they do get their hands on it, but the fact they haven’t been able to dip into it does at least mean it has had the chance to grow into a meaningful sum.

The Isa itself is just a ‘wrapper’ that protects your savings from tax and, as with the adult equivalent, you will still need to decide whether to go for a Cash or Stocks and Shares account.

In 2017/18, 70% of all Jisas taken out were cash. Unlike most savings accounts, rates on cash Jisas are pretty impressive. At the top of the table, Coventry Building Society pays 3.6%. However, Sarah Coles, personal finance analyst at Hargreaves Lansdown says parents shouldn’t rule out a Stocks and Shares Jisa.“Parents can struggle to take a risk when it comes to their children’s savings. However, the biggest risk for a long-term investment isn’t the short-term ups and downs of the stock market, over an 18-year period there is a decent chance of riding those out. The biggest risk is actually inflation.

“Take a Cash Jisa paying 2.5%. If we look at the seven calendar years since Jisas were launched, it would only have beaten inflation in three of them, so for most of the time the money you had put away would have lost value once inflation was taken into account.”

She adds: “A Stocks and Shares Jisa actually involves less risk than parents think because over 18 years it has far more potential to outstrip inflation. 

“If you were to invest £50 a month from birth in a Stocks and Shares Jisa, and get a typical return of 5%, you could end up with a lump sum of £17,460. If you put it in a cash Jisa paying 2.5%, you could get £13,622 – £3,838 less. Even if you saved into the Cash Jisa currently offering the highest rate of 3.6%, you would still end up with £15,164 –or £2,296 less.”

Moira O’Neill head of personal finance at interactive investor (Moneywise’s parent company), says parents must consider fees and charges when selecting a platform but says that some – including ii - offer free Jisas if their parents already have an account.

She adds: “Our investors are generally investing in the same funds and trusts for their children as they do for themselves, with the perennially popular Fundsmith Equity and Scottish Mortgage IT making up the top two investments for junior Isas – both of which top the respective most bought funds and trusts tables for our adult accounts.”

Once the account is opened, Ms O’Neill says it’s also worth letting other family members know.

“Can grandparents contribute too? If you all agree to put a small amount of money into a child’s Junior Isa every Christmas and birthday, this could amount to thousands of pounds over their childhood,” she adds.

Moneywise Childrens Savings Awards 2019

Best Junior Isa (Cash):
Coventry Building Society, pays 3.6%, minimum investment £1. Accepts transfers in.

Best Junior Isa (Stocks and Shares):
Hargreaves Lansdown. Invest from £25 a month into a choice of 2,500-plus funds, shares, investment trusts and ETFs (exchange-traded funds). Platform fee: 0.45%.

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"I have lost over £40,000 so far and had to sell my house": Moneywise hears from women affected by the state pension age change

On International Women’s Day, Moneywise publishes some of the letters we received from women affected by the state pension age changes

Moneywise recently published a feature article on the effect of state pension age changes for women. The response was extraordinary, with well over a hundred writing to us to express their dismay at the changes, the way the government has handled the process, and the way they have been treated.

Thank you to all those who wrote to us, from women affected, to their husbands and children.

In 1995, the government announced plans to increase women’s state pension age from 60 to 65 in line with men’s. As a result, many women in their early 60s now are facing financial hardship. For more on the issue, read our piece on the changes.

Below, we’ve published a selection of those letters, to hear more from how these women have been affected.

Have you been affected by the state pension age changes for women? We'd like to hear your story. Please email editorial@moneywise.co.uk

Jan Neate – “The increase should have been phased in gradually”

I worked continually for over 45 years before stopping in 2017 to take early retirement due to stress and anxiety caused by my high-powered job.

I was never informed of the government’s proposals and now have to wait until I’m 66 to receive my pension. 

I have lost over £40,000 so far and at the moment I am living off savings after selling my house.

I feel cheated and betrayed. I grew up expecting to get my pension at 60 and the huge jump to 66 is simply too long to wait.

I never claimed anything and always worked - only taking a few months off when my son was born. The increase should have been phased in gradually and not handled in the uncaring way that it was.

Grace Cory – “I would like to know what has happened to all of my money”

I was born in 1954 and have paid 40 years of contributions. With little likelihood of getting another job after being made redundant in 2013 I decided to care for my mother.

I had a small private pension (£40 a month) and carer’s allowance to live on for the next three years, but then my mother passed away.

I have suffered from chronic migraines and fibromyalgia for 25 years but was unable to get ESA or any other benefit. My only option was to sell my house and buy a park home. 

I feel so let down by the government and I would like to know what has happened to all of my money they have taken since I was 17. It sounds like fraud to me.

Beverley Mitchell – “I was unaware of the increase until my sister told me”

I was unaware of the increase in the state pension until my sister told me she would be one of the last women to be able to retire at 60 as promised.

Unfortunately, I had to take early retirement of around £350 a month after having a spinal operation which left me with health issues. I have received no support from the benefit system except help towards my rent and council tax and I am living below the poverty line.

I feel myself and many more women have been dreadfully treated. I would not have minded the delay of 18 months as promised by the government, but a delay of six years is disgraceful.

Louise Swanston – “The government is desperate to save money”

The government is desperate to save money and is using women born in the 1950s to their own ends.

I’m 64 and I have to wait until I'm nearly 66 before I receive a penny from the state, even though all my Class 3 National Insurance contributions have been long-since paid.

I have always been in favour of equalising the state pension age and was willing to accept the first hike proposed in 1995. However, the further twist of the knife in 2011 was the last straw.

Women of my age have spent all their lives often working part-time because of family commitments and/or being paid considerably less than their male counterparts. Our generation has been woefully discriminated against by the state and should in my view be entitled to compensation in respect of the decision made in 2011.

Yvonne Crozier – “I was 57 when I first heard”

I was 57 when I first heard I wouldn't receive my state pension when I was 60. This was far too late to plan for my retirement and I had already made arrangements to look after my grandchildren.

My generation worked hard, brought up a family, looked after parents and there was no alternative to full-time work when I was younger.

I paid into the system for over 40 years and I have nothing to show for it in the way of a pension.

Sue Morris – “Shafted, short-changed, dismissed and overlooked”

I feel robbed and cheated out of more than just money. We have been treated with contempt and arrogance by those in power and who are all financially in a privileged situation.

Surely it must be recognised that women of this era were never in a position to save and build a pension, most being the homemaker and child carer.

Have 1950s women been shafted, short-changed, dismissed and overlooked? The answer is most definitely YES.

Sue Hird – “I do not recall receiving any information”

I can honestly say that I do not recall receiving any information from the government.

I am finding it increasingly hard financially with soaring food costs and utility price increases.

I have worked 40 years full time only having maternity leave for my daughter and a period of part-time for one year.

I have very little in the way of savings and they are disappearing fast on day-to day-living. I feel saddened and cheated by not receiving my pension at age 60 and feel that women born in the 50s should be in some way recompensed - even perhaps receiving a one-off lump sum payment.

I believe that the result for Waspi and Backto60 women will be found favourable by the High Court and that the government will be held responsible for maladministration.

Carol Archer – “Listen to the voices of so many hard-working women”

It’s disgusting how the government pulled the rug from beneath us. We were not notified. No letter, nothing in the media, it just happened.

I now have to continue working until the age of 66, which will give me less time to spend time with grandchildren. To have the goalposts moved at the last minute for women that have worked all our lives is barbaric. We are tired.

Hopefully this government will listen to the voices of so many hard-working women now in their 60s and pay us what is owed.

Lesley Edwards “I don't know how I am going to manage”

I will be 64 this summer and I work two 12-hour night shifts on Saturday and Sunday. I do this to make sure I can still look after my grandchildren after school and care for my mum who is 88. Although I work, it is not enough to pay all the bills and so I rely on universal credit which I feel awful about.

I have poor health and just don't know how I am going to manage another two years. I have been working since I was 15 years-old and I feel very let down.

Francesca Birch – “I have to find work or claim universal credit”

Like many other women of my age I received no notification letter to warn me I would have to wait another six years for my pension and now I face a bleak situation.

I have failing health, no other assets and have to continue to find work or claim universal credit. After a lifetime of work and supporting society at my own expense, this is what we 50s women now have to face.

I support WASPI and all similar campaign groups but this and previous governments have robbed me of my pension, my health and sanity.

Joan Davison – “We brought up families, cared for aging relatives and paid our taxes”

I was promised a state pension on reaching the age of 60 and my financial arrangements have always been based around this. Now aged 61 I continue to work two shifts a week as a nurse in a busy accident and emergency department with no prospects of a state pension until I reach 66.

Whilst I am fortunate enough to receive a small pension from the NHS this is based on part-time work and in no way covers the shortfall in income that I would be left with if I decided to retire now.

I have been left with no time to prepare for these changes and I feel cheated and robbed after having paid my dues to the state pension scheme all my working life.

Who will listen to we ladies who have brought up families, cared for aging relatives and paid our taxes? The answer I fear is no one.

Liz Pearcy “I should be enjoying retirement but feel I won't even live that long”

I always expected to get my state pension at 60.  I’m 63 I have another three years to work in a low paid job, five days a week plus two weekends a month to make ends meet.

I am single and have no other income. At present I am struggling with rotator cuff injuries of both shoulders, awaiting surgery and have already had joint replacement on both hands because of osteoarthritis - to enable me to continue to work.

Why can't the government allow older people to retire and get younger job seekers to take our jobs? I should be enjoying my retirement but feel I won't even live that long - which is obviously also part of the plan. We have been robbed of our pensions and our well-earned freedom - a shocking crime against a generation of women.

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