Money Matters in the UK
This section we give you tips on how to get a bank account, source the best insurance or money transfer deal and give you a basic understanding of the UK tax system.
How much should I be earning?
To gage how much you should be earning, it is worth checking out the payscale website, searching relevant job advertisements and gaining advice from a few recruitment consultants who recruit for your field of work.
How much money should I get after tax?
Most employees are taxed under the simple PAYE tax system to get an idea what you should get after tax go to Listen to Taxman. If you are going to be working as a contractor, there are ways of reducing your tax through an umbrella or limited company, it is likely recruitment agencies will direct you towards relevant schemes.
Transferring Money Internationally
Transferring money internationally through a bank can be expensive will all the add on charges so it is worth hunting around for the best deal. London Stranger recommends Transferwise as the rates are excellent and charges minimal. It is also relatively transparent and easy to use.
If you are driving/owning a car it is illegal not to be insured. Most other insurances are your choice and it is worth hunting for the best deal as well as the cover that best protects your needs. USwitch and go compare are two comparison websites that will compare prices from a range (not all) of insurance companies.
Disclaimer: This content is for basic guidance only and should be not viewed as financial services advice.