Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleThe government's energy price cap is forecast to rise significantly from July, with analysts predicting an increase to £1,973 annually, though current fixed deals may offer some short-term protection. Pension savers are advised not to panic over market volatility caused by geopolitical events, with experts recommending staying invested, diversifying, and reviewing portfolios, particularly for those nearing retirement. Mortgage borrowers face prolonged higher interest rates as cuts are unlikely this year; those due to remortgage should consider locking in a deal up to six months ahead. Travel costs, especially flying, are expected to increase due to rising fuel prices, which may boost “staycations” and lead to advice on booking early or staggering currency exchanges. To combat inflation eroding savings, individuals should seek competitive rates and use tax-efficient accounts, while long-term investing and diversification are suggested for managing market uncertainty. In fullHow to look after your money during the Iran war: Energy bills, savings and pensionsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Experts explain how to look after your money during the Iran war
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleThe government's energy price cap is forecast to rise significantly from July, with analysts predicting an increase to £1,973 annually, though current fixed deals may offer some short-term protection. Pension savers are advised not to panic over market volatility caused by geopolitical events, with experts recommending staying invested, diversifying, and reviewing portfolios, particularly for those nearing retirement. Mortgage borrowers face prolonged higher interest rates as cuts are unlikely this year; those due to remortgage should consider locking in a deal up to six months ahead. Travel costs, especially flying, are expected to increase due to rising fuel prices, which may boost “staycations” and lead to advice on booking early or staggering currency exchanges. To combat inflation eroding savings, individuals should seek competitive rates and use tax-efficient accounts, while long-term investing and diversification are suggested for managing market uncertainty. In fullHow to look after your money during the Iran war: Energy bills, savings and pensionsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
