The Government's new flexible Lifetime ISA, unveiled in the Budget, could be very good news for savers, would-be homebuyers and those taking a long term view of retirement Among other things, it will offer a tax-free boost of up to £1,000 a year for your retirement pot.
Over the past few years, work has changed. The idea of working 9 to 5 in one place for decades has little appeal for modern workers. Rapidly changing technology and a competitive economy has already made the idea of a job for life obsolete. Now it is the very idea of a job itself that is under threat.
George Osborne delivered his eighth budget yesterday, featuring more spending cuts, a new type of ISA for young people, no change to petrol excise, the introduction of tax on sugary drinks and lots for small businesses.
We look at what you need to know and what it means for your money.
We all have our own priorities when it comes to finance and the goals we want to achieve. We may wish to do home improvements, buy a car or put a deposit on a new home. You may even want to consider investing in a new business or simply go traveling.
Achieving your goals
Whatever your dreams, you will need to think about your current finances will fund them, taking into account your attitude to risk and tax efficiency.
No one is as wise, prudent or capable of self restraint as they think they are.
When we think of a large sum of money, £100,000 say, we tend to think in terms of what it might buy: An incredible car, several years travelling round the world, a large new extension transforming our house into a dream home, or continued financial security in our old age?
The latter is, of course, less exciting, less glamorous, and less fun, but far more important, which is why, when savers became eligible to draw down their pensions, everyone urged them to exercise a degree of caution.
What have the philosopher Pierre Bourdieu and the finance advice guru Robert Kiyosaki got in common?
They both know how and why some people accumulate wealth and others remain poor and struggle financially all their lives.
The key is the values parents teach their children, though both men have expressed this in different ways.