Buying a home
On top of the deposit, in England and Northern Ireland, budget for:
- Stamp duty — nothing on the first £125,000 for a standard purchase, then it steps up in bands. First-time buyers pay nothing up to £300,000, then 5% up to £500,000 — and the relief vanishes entirely on homes over £500,000. Check the real figure on MoneyHelper's calculator.. (Scotland and Wales run their own, different, property taxes.)
- Legal work — conveyancing typically runs to around £2,000 including VAT, with local searches usually £250–£300 on top.
- A survey — £400–£1,500 depending on depth.
- Lender costs — the mortgage valuation (£150–£800 where the lender doesn't cover it) and product fees that can top £1,000.
- The first year — the fridge that dies in week two, curtains, a boiler service, furniture.
If you're a first-time buyer. A Lifetime ISA gives you a 25% government bonus on up to £4,000 a year — up to £1,000 a year — towards a first home worth up to £450,000, as long as you open it before you turn 40. Withdraw for anything else before 60 and a 25% charge means you get back less than you put in, so read the rules first. Our first-time buyer guide covers the LISA, the schemes and the order of steps.
A first-time buyer with a 10% deposit: deposit £35,000; stamp duty £2,500 (nothing on the first £300,000, then 5% of the remaining £50,000); legal work and searches £2,300; a mid-level survey £800; moving costs £600. Total: £41,200.
The deposit is 85% of that; the other £6,200 is also needed in cash on completion. The true cost of buying a home itemises the lot.
A whole-of-market mortgage broker sees deals you can't, knows which lenders accept situations like yours, and is often paid by the lender rather than by you. Your own bank shows only its own products; when to use a mortgage broker explains how it works and what to ask.
Pensions
A pension is a pot of money that your employer pays into alongside you, with tax relief from the government. The essentials:
- Auto-enrolment puts most employees into a workplace pension at a minimum of 8% of a band of earnings (£6,240–£50,270 in 2026/27), of which at least 3% comes from your employer. Opting out means giving up your employer's contribution.
- Tax relief means £100 into a pension costs a basic-rate taxpayer £80. Higher-rate taxpayers can pay £60 — though above the basic rate you may need to claim the extra back through self-assessment, depending on how your scheme collects it.
- The State Pension is real but modest, and only pays in full with enough qualifying National Insurance years — check your forecast on GOV.UK, because gaps can sometimes be filled cheaply.
£241.30a week — the full new State Pension from April 2026, about £12,548 a year.
Money paid in at 25 has forty years to grow; the same money at 55 has ten. What ‘enough’ looks like is in the pension reality check, and turning a pot into a retirement date is its own guide.
Regulated advice. Choosing the investments inside a pension, consolidating old pots, and anything touching a defined-benefit (final salary) scheme are regulated territory — a DB transfer worth more than £30,000 legally requires regulated advice before it can proceed. These need an authorised firm. Buzz Money Coach does not give regulated advice. Where you need it, we say so and can introduce you to Equity & General, authorised and regulated by the FCA (No. 474163), through Buzz Money Ltd's introducer agreement. The introduction is optional.
Investing
A common order puts investing after an emergency buffer, clearing expensive debt and taking any employer pension match. Three things to know:
- The wrapper and the contents are different things. An ISA is a tax wrapper — you can put up to £20,000 a year into ISAs (2026/27) and pay no tax on what grows inside. What you put in the box, cash or investments, is a separate decision. ISAs explained untangles it.
- Time horizon decides the tool. Money needed within about five years generally belongs in cash; money with five-plus years to work can afford the stock market's mood swings.
- Investing and trading are different activities with very different odds — investing is long-term ownership, trading is short-term betting on prices. The difference, explained.
Which funds to choose is a matter for your own research or a regulated adviser's recommendation. Coaching covers the foundations, the goal and the timeline.
Protection
If illness stopped your income for six months, how long would your savings last? The main types of cover:
- Income protection — pays a regular income if illness or injury stops you working.
- Life insurance — a lump sum if you die, relevant if anyone depends on your income.
- Critical illness cover — a lump sum on diagnosis of specified serious conditions.
What cover suits you depends on who relies on you; how to protect your income maps it out, and choosing cover is a conversation for a regulated adviser.
Wills and passing it on
Die without a will and intestacy rules decide who gets everything — and they don't recognise unmarried partners at all, however long you've been together. The essential kit: a will; lasting powers of attorney so someone you trust can act if you can't; and up-to-date beneficiary nominations on pensions and life policies, which sit outside your will and go wherever the last form you filled in says. Wills and financial admin walks through the lot.
Five questions before any big decision.
- What problem does this solve, and is it my biggest one right now?
- What does it cost in total, over its whole life — not per month?
- What would have to be true for this to turn out a mistake?
- Which of my assumptions are facts, and which are hopes?
- Is this a question I can answer with guidance and homework — or is it regulated-advice territory?
Where to start
These decisions are easier once the day-to-day is working, which is why the foundations guide comes first. If you're not sure which decision is next for you, the free Financial Freedom Score takes eight minutes.