Finance

UK asset finance new business grew by 4% in October 2024: FLA

Published

1 year ago

December 9, 2024

UK asset finance new business grew by 4% in October 2024: FLA

Credit: Shutterstock.com

Total asset finance new business (primarily leasing and hire purchase) grew in October 2024 by 4% compared with the same month in 2023, according to figures released by the Finance & Leasing Association (FLA). In the ten months to October 2024, new business was also 4% higher than in the same period in 2023.

New business in the commercial vehicle finance and plant and machinery finance sectors grew in October by 12% and 8% respectively, compared with the same month in 2023. The new car finance sector reported a fall in new business of 7% over the same period.

Commenting on the figures, Geraldine Kilkelly, Director of Research and Chief Economist at the FLA, said: “The asset finance market made a positive start to the final quarter of 2024 with growth across most of the main asset sectors in October compared with the same month in 2023. New lending to SMEs and larger companies both grew by 5% over that period.

“The FLA’s Q4 2024 Industry Outlook Survey suggested that asset finance providers expect the Autumn Budget measures of higher taxes to keep business investment subdued, with 44% anticipating some decrease over the next twelve months. The Q4 Survey also showed that 64% expected some increase in new business over the next year, compared with 89% in the Q3 2024 Survey, while a further 22% expected new business levels to remain stable.”

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Finance

The case against saving when building a business

Published

12 hours ago

January 8, 2026

Press Room

The case against saving when building a business

Listen and subscribe to The Big Idea with Elizabeth Gore on Apple Podcasts, Spotify, or wherever you find your favorite podcast.Would you rather play it safe, or grow your business? This expert breaks down why investing is everything.This week on The Big Idea with Elizabeth Gore, Howard Enterprise founder and the Wall Street Trapper Leon Howard joins the show to answer the question: How can I use a Wall Street mindset for my business? Howard offers expert insight on why it is absolutely critical that founders take risks and invest capital, versus just saving.To learn more, click here. Yahoo Finance’s The Big Idea with Elizabeth Gore takes you on a journey with America’s entrepreneurs as they navigate the world of small business. This post was written by Lauren Pokedoff

Finance

This Is the Best Thing to Do With Your 2026 Military Pay Raise

Published

1 day ago

January 8, 2026

Press Room

This Is the Best Thing to Do With Your 2026 Military Pay Raise

Editor’s note: This is the fourth installment of New Year, New You, a weeklong look at your financial health headed into 2026.

The military’s regularly occurring pay raises provide an opportunity that many civilians only dream of. Not only do the annual percentage increases troops receive each January provide frequent chances to rebalance financial priorities — savings vs. current standard of living — so do time-in-service increases for every two years of military service, not to mention promotions.

Two experts in military pay and personal finance — a retired admiral and a retired general, each at the head of their respective military mutual aid associations — advised taking a similarly predictable approach to managing each new raise:

Cut it in half.

In one variation of the strategy, a service member simply adds to their savings: whatever it is they prioritize. In the other, consistent increases in retirement contributions soon add up to a desirable threshold.

Rainy Day Fund

The active military’s 3.8% pay raise in 2026 came in a percentage point higher than retirees and disabled veterans received, meaning troops “should be able to afford the market basket of goods that the average American is afforded,” said Michael Meese, a retired Army brigadier general and president of Armed Forces Mutual.

While the veterans’ lower rate relies exclusively on the rate of inflation, Congress has the option to offer more; and in doing so is making up for recent years when the pay raise didn’t keep up with unusually high inflation, Meese said.

“So this is helping us catch up a little bit.”

He also speculated that the government shutdown “upset a lot of people” and that widespread support of the 3.8% raise across party lines and in both houses of Congress showed “that it has confidence in the military and wants to take care of the military and restore government credibility with service men and women,” Meese said.

His suggestion for managing pay raises:

“If you’ve been living already without the pay raise and now you see this pay raise, if you can,” Meese advised, “I always said … you should save half and spend half,” Meese said. “That way, you don’t instantly increase your spending habits just because you see more money at the end of the month.”

A service member who makes only $1,000 every two weeks, for example, gets another $38 every two weeks starting this month. Put $19 into savings, and you can put the other $19 toward “beer and pizza or whatever you’re going to do,” Meese said.

“That way you’re putting money away for a rainy day,” he said — to help prepare for a vacation, for example, “so you’re not putting those on a credit card.” If you set aside only $25 more per pay period, “at the end of the year, you’ve got an extra $300 in there, and that may be great for Christmas vacation or Christmas presents or something like that.”

Retirement Strategy

Brian Luther, retired rear admiral and the president and chief executive officer of Navy Mutual, recognizes that “personal finance is personal” — in other words, “every situation is different.” Nevertheless, he insists that “everyone should have a plan” that includes:

What your cash flow is
Where your money is going
Where you need to go in the future

But even if you don’t know a lot of those details, Luther said, the most important thing:

Luther also advised an approach based on cutting the 3.8% pay raise in half, keeping half for expenses and putting the other half into the Thrift Savings Plan. Then “that pay will work for you until you need it in retirement,” Luther said. With every subsequent increase, put half into the TSP until you’re setting aside a full 15% of your pay.

For a relatively young service member, “Once you hit 15%, and [with] the 5% match from the government, that’s enough for your future,” Luther said.

Previously in this series:

Part 1: 2026 Guide to Pay and Allowances for Military Service Members, Veterans and Retirees

Part 2: Understanding All the Deductions on Your 2026 Military Leave and Earnings Statements

Part 3: Should You Let the Military Set Aside Allotments from Your Pay?

Get the Latest Financial Tips

Whether you’re trying to balance your budget, build up your credit, select a good life insurance program or are gearing up for a home purchase, Military.com has you covered. Subscribe to Military.com and get the latest military benefit updates and tips delivered straight to your inbox.

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Finance

Tech trade needs 2 things to remain 'in favor' this year

Published

2 days ago

January 7, 2026

Press Room

Tech trade needs 2 things to remain 'in favor' this year

MJP Wealth Advisors chief investment officer Brian Vendig sits down with Morning Brief host Julie Hyman to discuss the tech trade’s (XLK) outlook for 2026. To watch more expert insights and analysis on the latest market action, check out more Morning Brief.