How to invest your money to avoid costly mistakes

Welcome to the July/August 2022 edition of Smart Money.

In this edition, we will be focusing on saving and investing in the current high-inflation environment. Our feature in this issue (page 6) looks at ten key principles every investor needs to know. From investing early to reviewing your portfolio regularly, these tips should form the foundation of your investment strategy.

Also focusing on inflation and the current cost-of-living pressures, we look at look 3 tips to maintain your financial wellbeing (page 3); how the self-employed are particularly vulnerable to the current financial shocks (page 5); the risks of saver inaction in a high-inflation economy (page 8); and how your can benefit from different tax-reliefs in the year to come (page 9).

Your pension and retirement plans are also important to consider at a time of high-inflation. For those approaching retirement, the cost-of-living crisis has the potential to eat into your savings. On (page 4),  we consider how you can manage this impact on your pension savings. Those further from retirement in their 40-50s risk being affected by the cost-of-living crisis twice over through the pressures of repaying current debt, shrinking their current disposable income, while also needing to more greatly support their children throughout their life. We examine this complex issue in detail on (page 12).