Nosso News: July 2022

July has been a showstopper of a month. We’ve had record heat-waves, more resignations than lights on a Christmas tree, and football finally came home!
It's been tough to keep up.

Despite all of the good and not-so-good stuff, we’ve been quietly working away at bringing some new features and releasing some more guides, tips and tricks to help you tune up your summer finances.
If you have 5 minutes, keep reading. If you only have 30 seconds, here’s your TL;DR

• 👪 It’s now easier to add your partner to your Nosso account. Just go into your settings, click “invite partner” and share the link with them.
• 🎁 Giving a financial gift can be a good way to help your children and grandchildren. Our guide sets out how gifting works and how to manage any tax pitfalls when passing money to family.
• 🎺 Building the best product for family finance will only be possible with your help and so we’d love you to take our short survey (thanks to everyone who’s already taken part).
• 🎾 There’s some new bite-size videos, including some top tips on how to keep the costs of childcare down over the summer holidays.

‍Invite your partner & manage your kid's finances together

If you have a partner, you can now invite them to your Nosso account. What’s the point?
We think there are two big ones. Firstly, you can both add memories that your kid will look back on when they receive the money when they’re older (isn’t it unfair if all the memories are from you?).

But more importantly, it’ll open a whole new side of the family that you can invite to contribute. The average Nosso household that has a partner involved receives £95 more per year in external contributions than those that haven’t invited a partner. That’s over £1,700 more over 18 years!

Just click on your profile picture -> Invite partner and share the link.

‍Gifting - the complex rules we went through so you don't have to

Giving a financial gift to a loved one can come with all sorts of tax-strings attached.
So it’s good to be in the know about how much you can actually give away without having the tax-collector knocking at your’s or a loved one’s door.

Read more to find out about gift allowances which let you gift thousands away without needing to worry about tax.

‍We need your help

This month we sent out a survey to help us get to know you better. The responses to this help us build a better picture of what’s important to you and how we can improve everything we do at Nosso to help you manage your children’s (and families) finances better.

It was also great to hear about all your parenting superpowers with my personal favourite being the parent who said “Pretending to be asleep when my daughter comes into my bedroom at 5.45am”.
This is a super power I desperately need to learn!

Thanks to all those that have already helped us and if you haven’t yet, it’s not too late 👉 Tell us a bit about you.

Did you know you can use tax-free childcare on Summer Clubs?

This month we explained to you how you need to claim your tax-free childcare and also how you can use it on your kid's summer clubs.
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As always, there's plenty more like this on our blog and our Instagram.

Have a question or a specific topic you want to learn more about?

Just let us know either via DM or drop us an email here and we'll answer it for you.

That's all for July. We have plenty of new features that we're releasing over the next few months.

Curious about what we're working on behind the scenes?
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Or maybe you want to give us some feedback about what we've built for you so far?

Just drop us a message in-app.

Have a great month ahead!

Disclaimer:

As with all investing, your money is at risk. You might end up with more than you put in - or you might end up with less. And remember that what you're taxed depends on your own personal situation, and that can change in the future