Nosso News: August 2022

Summer's gone, Autumn is here. Or is winter coming? Whatever been's keeping you busy, time to put it aside and get the kid's ready for school again. To all of you doing your first nursery or school drop off, have the camera at the ready and get ready to wipe back those tears.

August was a busy month for the team, we built, we wrote and we moved. If you have 5 minutes, keep reading.
If you only have 30 seconds, here’s your TL;DR

• 🌊 The stock market has been particularly choppy this summer. If you’re feeling nervous we wrote this to help rest your mind a little.
• 🧸Some of you created the very first Nosso Bare Trusts in August. If you haven’t yet but are interested, then leave your details here.
• 🏡 The parents on forums and social media were vocal debating whether or not you should charge rent to your (older) kids. Missed it? Here's our summary.
• 🎉 We've moved! Our new HQ is in a lovely place near Liverpool Street Station and we want to throw a house-warming party. If you want to join us then tell us you availability here (it's first come, first served).

What's happening in the stock market?

August was a bit of a rollercoaster month for the stock market. The start of the month saw markets go up, but the second half saw those increases wiped out. Why? The story remains the same – inflation is hanging around like a bad smell. With the ongoing energy crisis, September could be another tricky month. Often the best course of action in times like these is to keep a long-term outlook. It might not appear so right now, but over time, returns show up more often than not. We previously touched on this in our blog and talked about how drip-feeding money into the stock market when they’re being choppy can help smooth out investment returns.

‍Bare Trusts - invest more flexibly for your children's future

We had our very first group of parents open a Bare Trust for their children in August. If you have a Junior ISA and are wondering what the main differences are - here are the key points;

• You can withdraw the money before your child turns 18 provided it’s used for their benefit. Flexibility ✅

• The money doesn’t automatically go to them at 18 (you do need to tell them the Trust exists though). More control ✅

• It can be created by anyone. Grandparent, Aunt, Uncle or even Scotty the family Dog 😉

• It’s not tax free (like a JISA) but it is tax efficient
• From a legal point of view there’s a bit more structuring to a Bare Trust than a JISA (that we do behind the scenes for you). Because of this we charge a set-up fee of £99.

We haven’t made them available to all of you yet but if you wanted early access then let us know below and we’ll see what we can do.e haven’t made them available to all of you yet but if you wanted early access then drop us an email and we’ll see what we can do.

A new home for Nosso

We out grew our old home, so we’ve moved to a new home near Liverpool Street Station. We spent last week making sure we packed every item including our beloved plant Peggy the Pachira. If you want to see how the move went you can watch this short clip on our Instagram.

We’re also considering having a small house warming party to celebrate the move and all of the Team's hard work carrying boxes and Yorkshire Tea to our new home. If you’re interested in joining us (you might even get to see the rooftop if the weather is good) then let us know here.

Rent or No rent - should you charge it to your not so little ones

This month saw forums and social media going into overdrive on the topic of whether to charge your late teen rent or not. Not one to let a family finance topic slip by, we did some research and asked the Nosso families whether they were Team Rent or Team No Rent. You can read more about what people thought and our thoughts here.

As always, there’s plenty more like this on our blog and Instagram.

Have a question or a topic you want to learn about? Just let us know and we’ll answer it for you.

That’s all for August. We’ve got some really exciting changes coming out over September, one of which you might have seen in your app already.

Have a great month! 

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.

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