Everything Else

This includes everything else I discuss on Pounds and Sense, including Health, Holidays, Relationships, and so on.

September 2, 2023

My Investments Update – September 2023

Nick Investing, Everything Else events, reviews 2 Comments

Here is my latest monthly update about my investments. You can read my August 2023 Investments Update here if you like

I’ll start as usual with my Nutmeg Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension).

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £21,188. Last month it stood at £21,548 so that is a fall of £360.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,325 compared with £3,383 a month ago, a fall of £58. Here is a screen capture showing performance since the start of this year.

The net value of all my Nutmeg investments has fallen this month by £418 or 1.68% month on month. That’s obviously a bit disappointing, but both pots are still comfortably up on where they were at the start of the year. Their total value has risen by £1,592 (6.95%) since 1st January 2023.

Of course, all investing is (or should be) a long-term endeavour. Over a period of years stock market investments such as those used by Nutmeg typically produce better returns than cash accounts, often by substantial margins. But there are never any guarantees, and in in the short to medium term at least, losses are always possible.

You can read my full Nutmeg review here (including a special offer at the end for PAS readers). If you are looking for a home for your annual ISA allowance, based on my overall experience over the last seven years, they are certainly worth considering. They offer self-invested personal pensions (SIPPs) and Junior ISAs as well.

I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have £2,145 invested with them in 17 different projects paying interest rates typically around 7%. I also have just over £100 in my cash account after another loan was repaid. I am currently considering whether to withdraw this money or (in due course) reinvest it.

To date I have never lost any money with Kuflink, though some loan terms have been extended once or twice. On the plus side, when this happens additional interest is paid for the period in question.

As mentioned last time, Kuflink recently changed their terms and conditions. As from Monday 21st August there is an initial minimum investment of £1,000 and a minimum investment per project of £500. I wondered if this would also apply to their secondary market and this does indeed seem to be the case. When I checked just now, there was only one loan on offer for under £500 (£413) and all the others were £500 or more.

Kuflink say they are doing this to streamline their operation and minimize costs. I can understand that, though it does mean the option to ‘test the water’ with a small first investment has been removed. It will also make it harder for small investors (like myself) to build a well-diversified portfolio on a limited budget. As mentioned, my current portfolio of £2,145 comprises 17 different investments ranging from £50 to £200. If I was starting out again now, that same amount of money would only stretch to four deals!

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to three years. The rates on offer from August 1 2023 are shown in the graphic below.

As you may gather, you can invest tax-free in a Kuflink Auto IFISA. Or if you have already used your annual iFISA allowance elsewhere, you can invest via a taxable Auto account. You can read my full Kuflink review here if you wish.

Moving on, my Assetz Exchange investments continue to generate steady returns. Regular readers will know that this is a P2P property investment platform focusing on lower-risk properties (e.g. sheltered housing). I put an initial £100 into this in mid-February 2021 and another £400 in April. In June 2021 I added another £500, bringing my total investment up to £1,000.

Since I opened my account, my AE portfolio has generated a respectable £134.95 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 9 of ‘my’ properties are showing gains, 1 is breaking even, and the remaining 16 are showing losses. My portfolio is currently showing a net decrease in value of £28.83, meaning that overall (rental income minus capital value decrease) I am up by £106.12. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

Obviously the fall in capital value of my AE investments is disappointing. But it’s important to remember that until/unless I choose to sell the investments in question, it is largely theoretical, based on the most recent price at which shares in the property concerned have changed hands. The rental income, on the other hand, is real money (which in my case I have chosen to reinvest in other AE projects to further diversify my portfolio).

Also, as I noted last time, the recent high inflation rate has actually been beneficial for Assetz Exchange investors. That is because properties on the platform generally have an annual review when rentals are increased in line with inflation. That means from the end of the financial year in April, rentals have increased in most cases by around 10%. Assetz Exchange recently published a blog post about this which is worth a read.

To control risk with all my property crowdfunding investments nowadays, I invest relatively modest amounts in individual projects. This is a particular attraction of AE as far as i am concerned (especially now that Kuflink have raised their minimum investment per project to £500). You can actually invest from as little as 80p per property if you really want to proceed cautiously.

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate].

Last year I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).

In January 2023 I added to this with another $500 investment in one of their thematic portfolios, Oil Worldwide. I also invested a small amount I had left over in Tesla shares.

As you can see from the screen capture below, my original investment of $1,022.26 is today worth $1,198.50, an overall increase of $176.24 or 15.05%. in these turbulent times I am very happy with that.

In the last month my copy trading portfolio with Aukie2008 has fallen in value, though I am not too concerned about this as the investment is still well up overall. My Tesla shares have again done well (thank you, Elon Musk). I am also pleased that Oil Worldwide continues to forge ahead since it was rebalanced in July by eToro. Looking at my eToro virtual portfolio, I can see that Oil Worldwide is still doing much better than the two renewables smart portfolios I hold, which are currently showing substantial (thankfully virtual) losses. Make of this what you will!

You can read my full review of eToro here. You may also like to check out my more in-depth look at eToro copy trading. I also discussed thematic investing with eToro using Smart Portfolios in this recent post. The latter also reveals why I took the somewhat contrarian step of choosing the oil industry for my first thematic investment.

eToro also recently introduced the eToro Money app. This allows you to deposit money to your eToro account without paying any currency conversion fees, saving you up to £5 for every £1,000 you deposit. You can also use the app to withdraw funds from your eToro account instantly to your bank account. I tried this myself and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here.

I had three more articles published in August on the excellent Mouthy Money website. The first was Can You Make Money From Holiday Lets? This is a dream for many people, and there is no doubt you can make a valuable extra income this way (not to mention the opportunity to enjoy cheap holidays at the property yourself!). In my article I set out some key things you need to be aware of.

I also wrote How to Become an Amazon Vine Reviewer. This is a subject close to my heart. I’ve been an Amazon Vine reviewer for over ten years and in some ways it’s been the most profitable sideline I’ve ever had. You don’t get paid for Amazon Vine reviews, but you do get to keep the items concerned (my most valuable so far being a £1200 gaming laptop). In my article I spill the beans on how the scheme works and suggest how you might get an invitation to become a ‘Vine Voice’ yourself.

My third article was Play Your Supermarket Loyalty Cards Right. In this article I explained why stores use loyalty cards and their pros and cons for customers. I also described the leading loyalty cards in the UK (including Tesco Clubcard, Nectar, Morrisons, Boots, and so on), covering how they work in practice and how to get the most from them.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. I particularly like the ‘Deals of the Week’ feature compiled by Jordon Cox (‘Britain’s Coupon Kid’) which lists all the best current money-saving offers for savvy shoppers. Check out the latest edition here

I also published several new posts on Pounds and Sense in August. The deadlines on some of these have now passed, so I hope you took advantage at the time! You might, however, still want to check out What is U3A and Is It For You?

U3A stands for University of the Third Age. It is a non-profit organization offering a range of leisure activities for retired and semi-retired people. I recently joined my local U3A myself, and in this post set out my experiences and impressions, for the benefit of anyone else who might be interested in joining now or in future.

In other news, the Trading 212 free share offer is back. If you haven’t done this before, you can get a free share worth up to £100. You just have to sign up on the website and deposit a minimum of £1 into your account. This offer is running till 27 September 2023. See Get a Free Share Worth up to £100 with Trading 212 for more info.

The opportunity to Get a Free ETF Share Worth up to £200 with Wealthyhood is also still open. Wealthyhood is a DIY wealth-building app aimed especially at people new to stock market investing. As from June 2023 they changed their fee structure to make it (even) more attractive to small investors. They have increased the minimum investment to qualify for the free share offer from £20 to £50 – but on the plus side, they guarantee that your free ETF share will be worth at least £10.

Finally, a quick reminder that you can also follow Pounds and Sense on Facebook or Twitter (or X as we have to learn to call it now). Twitter/X is my number one social media platform these days and I post regularly there. I share the latest news and information on financial (and other) matters, and other things that interest, amuse or concern me. So if you aren’t following my PAS account, you are definitely missing out!

As a matter of interest, I recently paid £100 for Twitter/X premium membership. Although I do like the snazzy blue tick, my main reason was to get continued access to the scheduling tool Tweetdeck (now called X-pro) which became subscriber-only last month. I was accused the other day of ‘selling out’ to Elon Musk for doing this. But personally I don’t begrudge the money, as the extra tools and features make working with Twitter much easier and more enjoyable. And if my money helps keep the platform afloat, that’s an additional benefit in my book.

That’s all for today. As always, if you have any comments or queries, feel free to leave them below. I am always delighted to hear from PAS readers

Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.

Note also that posts may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!

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August 20, 2023

UK Bloggers’ Back to School Giveaway 2023

Nick Everything Else events, competitions, families 0 Comments

Yes, it’ s time for another exciting giveaway on Pounds and Sense. This one has a ‘back to school’ theme. In most parts of the UK, of course, this occurs in early September. Scottish schools generally return a little earlier, around mid-August.

Again I have clubbed together with some of my fellow UK bloggers to provide a smorgasbord of great prizes. And the best news is, it’s entirely free to enter. The giveaway is open now and will close on August 30 2023.

The prizes have been hand-picked for children and young people returning to school this autumn, so they should be ideal for your children or grandchildren. But if you want to keep any for yourself, we promise we won’t tell!

This event has (again) been organized by Rowena Becker, who blogs at My Balancing Act. No small amount of effort has been involved in arranging and co-ordinating it, so many thanks again to Rowena for her hard work and dedication.

Without further ado, then, I’ll hand you over to Rowena to introduce the giveaway…

Back to School Giveaway

With only a couple of weeks left until the start of the new school year, some of the top UK bloggers have come together to offer one lucky winner an amazing bundle of prizes to send their kids back to school in style. This is not only a giveaway but also a great Back to School Guide to help you get ideas and inspiration for your kid’s new school year.

The Prizes

Microsoft Surface Go 2 Intel Pentium Gold from Tier1

Tier1, refurbishers of laptops, desktops and tablets and more, are the perfect solution for parents looking to equip their kids with great but affordable technology as they head back to school. Tier1 take pre-owned devices and put them through a rigorous process of testing, cleaning, and repairing to ensure they are in excellent working condition. Not only do these devices offer significant savings compared to buying brand new, but they also provide a reliable and efficient way for students to engage in online learning, complete assignments, and explore educational resources.

With Tier1, parents can find high-quality laptops and tablets that meet their children’s needs without breaking the bank, allowing them to invest in their education without compromising on affordability. We have the Microsoft Surface Go 2 Intel Pentium Gold from Tier1 for our lucky winner. Right now, Tier1 have their summer sale on, making those back to school savings even greater!

Futliit LED Backpack

Introducing the Futliit LED Backpack, the perfect accessory for those walking or cycling home after school. Safety is paramount, especially when it comes to being visible in the dark. Are you worried about your kids walking home in the dark? Don’t worry! The Futliit LED backpack is here to keep them visible to passing traffic, ensuring their safety.

Equipped with two strands of LED lights and reflective panels, the backpack guarantees maximum visibility on your journey. But that’s not all – the backpacks come loaded with features. With a spacious main compartment, a padded device sleeve, and ample storage space, your kids can keep all their school essentials secure.

Don’t miss out on this chance! Enter our giveaway for an opportunity to win the Futliit LED Backpack. Ensure your kid’s safety and embrace the #BeFutliit movement!

Premium Start-Rite School Shoes

‘Motivate‘ and ‘Encourage‘ deliver the very best protection Start-Rite has to offer, and here’s your chance to win either style of your choice! These robust shoes are packed with the best Start-Rite intelligence, from Air Rite technology to biomechanical soles, reflective tabs, toe and heel bumpers, padded ankles, dyed through leather and adjustable rip-tape fastenings.

The durable designs of these two new styles launched by Start-Rite, in collaboration with ‘The Daily Mile’, strengthen the joint ambition to support healthy development and physical activity for all school children.

‘Motivate’ – available size S10 – L4 (Standard and Wide width fitting)

‘Encourage’ – available size S9 – L2 (Standard and Wide width fitting)

To browse the full Start-Rite school shoe range – https://www.startriteshoes.com/school-shoes

Create-A-Space™ See-Thru Storage Caddy

Keep your kid’s art and crafts supplies organised when they go back to school with the Create-A-Space™ See-Thru Storage Caddy from Learning Resources. The set comes with 4 very handy see-through storage bins on a portable base with a carry handle. It’s the perfect caddy for creative kids, and we have one to give to our lucky winner!

SMASH Lunchbags and Water Bottles

Going back to school with SMASH means you’re going back in style! Our lucky winner can grab their kids the following lunchtime accessories:

- SMASH Blue Camo Insulated Lunch Bag

- SMASH Blue Camo Sipper Bottle

- SMASH Orange Leopard Insulated Lunch Bag

- SMASH Orange Leopard Sipper Bottle

The water bottles have an easy carry handle and a fast-flow straw sipper. The lunch bags are not only super cool and super stylish but they are also fully insulated with an anti-bacterial lining. Oh, and super easy to clean too! If you can’t wait to see if you’re a winner, these affordable lunch bags and water bottles are all available from Dunelm.

Brainstorm Toys E2001 Light Up 2 in 1 Globe Earth & Constellations, Multicolour

Help your kids learn when they go back to school with Brainstorm Toys Light Up 2 in 1 Globe of the Earth and constellations. The Earth and Constellation Globe is two globes in one with a day-time and night-time view. In the daylight, the 22.8 cm diameter globe shows political boundaries, oceans, equator, longitude and latitude lines, country names, capital cities and other major cities for each country in the world. By night the illuminated star map shows constellations with their common names. The globe is at a scale of 1:55,900,00, and it sits on a sturdy, stylish silver stand with a matching graduated meridian.

The Earth and Constellation Globe has an automatic light sensor, so when the globe is turned on and the surrounding area is dark, the globe will transform into a beautiful glowing globe showing the star constellations. It is a great learning tool for geographers and astronomers, but also a great feature for your child’s bedroom. And we have one for our lucky winner!

The Bloggers

In order to be able to bring you this incredible giveaway, some of the UK’s top bloggers got together and contributed. A massive thank you to our bloggers! The bloggers taking part are:

How to Enter

You can enter the Giveaway by completing as many Rafflecopter widget entry options below as you like. All entries will be collected and one winner will be randomly chosen. Good luck!

a Rafflecopter giveaway

Terms and Conditions

UK entries only
The giveaway will run from 7 pm 20th August 2023 to 11.59 am 30th August 2023.
The winners will be notified by email from rowena@mybalancingact.co.uk
The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter, YouTube, BlogLovin or Pinterest or any other social media platform.
Prize open to over 18s only. Age verification may be required to receive some prizes.
If any prizes are out of stock then we will do our best to find a suitable replacement but cannot guarantee it.
Anyone who unfollows before the giveaway ends or doesn’t complete the required entry action will be disqualified.
The prize is non-transferable, non-refundable and cannot be exchanged for monetary value.
We may be using a parcel service or Royal Mail for some of the prizes and their standard compensation will apply in the event of loss or damage.
Some items may be sent directly by the supplier and we do not have responsibility if these go missing and we cannot replace these.
In the unlikely event one of the companies withdraws a prize, we cannot offer an alternative.
The winner’s name will be stated on some or all of our bloggers’ websites and announced on Twitter/X and other social media channels. It will also be displayed on the Rafflecopter Entry. By entering this prize draw, you give your permission for this.
Please note the winner may have the same name as you, so if you see your name displayed, be aware that you are not the winner unless you have been notified by us. There may be some delays in receiving prizes.

Good luck, and I hope a Pounds and Sense reader wins this fabulous prize bundle!

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August 15, 2023

English Heritage Discount Offer

Nick Saving Money, Everything Else property, travel, events 0 Comments

A quickie today to let you know that until the end of August 2023, you can get a massive 25 percent off the cost of a new English Heritage membership if you pay by annual direct debit. This applies to all types of membership, including Over-65s (which is already discounted).

English Heritage looks after nearly 400 historic sites and buildings across England, including Stonehenge, Hadrian’s Wall, Dover Castle, the Iron Bridge in Telford (see cover photo), and more. Members get free admission to all properties. Other benefits include free parking in car parks owned by English Heritage, free or reduced-price admission to hundreds of special events, and free entry to properties for up to six children per member. You also receive a free members’ handbook and a magazine (published three times a year).

A further attraction of joining English Heritage is that they have reciprocal arrangements with Scottish Heritage and CADW in Wales. Members therefore get reduced or free admission to most properties owned by these organizations as well.

You can get current membership prices from the English Heritage website. Family, Joint, Individual and Lifetime memberships are available. To claim the current special offer discount, you have to enter the code IMAGINE50 on the online form when applying.

In my case I qualified for Over-65 membership. This would normally cost £63 a year, but with my 25% discount it was reduced to £47.25. Of course, the discount price is for one year only, but you can always cancel the direct debit before it’s due to renew if you wish.

There are various English Heritage sites near where I live. Later this week I am planning to visit Boscobel House in Staffordshire, which is only around 30 minutes’ drive from where I live. Although I have only just joined, I received a temporary membership card by email prior to my full membership pack arriving in the post. So I will be saving at least £11 straight away!

I duly visited Boscobel House on Thursday 18 August. My temporary membership was accepted without quibble, so I saved £11 on admission and also £3 on parking. I also discovered another benefit of English Heritage membership which I couldn’t see mentioned on the website. Once you have been a member for a year or more, you qualify for a 10% discount on any purchases in their shops or tea rooms.

English Heritage obviously has some similarities with the National Trust, but it’s an entirely separate organization and only operates in England (though see my comments above about reciprocal arrangements with organizations in Wales and Scotland).

I know from messages on social media that some people have been deterred from joining or rejoining the National Trust due to their controversial stance on some current issues (see this article, for example). So far anyway, English Heritage seem to have stuck to their core remit of looking after heritage sites and properties and avoided divisive political messaging. For those who have resigned from the National Trust or no longer wish to join, English Heritage may therefore offer an attractive alternative. Of course, there is nothing to stop you joining both if you wish!

As always, if you have any questions or comments about this post, please do leave them below.

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August 11, 2023

What Is U3A And Is It For You?

Nick Everything Else health, retirement 4 Comments

As regular PAS readers will know, I recently joined U3A, a non-profit organization offering a range of leisure activities for retired and semi-retired people. I thought I would set out my experiences and impressions here for anyone who may be interested in joining U3A themselves, either now or in the future.

But first, here’s a bit more info about the organization itself…

What Is U3A?

The University of the Third Age (U3A for short) is an international organization providing educational and social opportunities for retired and semi-retired people, typically aged 50 and above.

The primary goal of U3A is to encourage lifelong learning, personal development, and social engagement among older adults. Unlike traditional universities, U3A doesn’t offer formal degrees or certifications. Instead, it focuses on informal, peer-led learning and skill-sharing.

U3A groups offer a wide range of classes, workshops and activities, covering subjects such as arts, literature, history, science, technology, languages, fitness, and more. These activities are typically organized and led by the members themselves, with individuals who have expertise or interest in a particular field volunteering to share their knowledge with others.

U3A promotes active ageing, mental stimulation and social interaction. It aims to help older people stay engaged, connected, and mentally sharp. It also seeks to foster a sense of community, where members can continue to learn, explore new interests, and make new friends in a supportive and non-competitive environment.

My U3A Experience

I joined the U3A in Lichfield, Staffordshire, early in 2023. I am 67 and (as you may know) semi-retired. I live on my own nowadays and am conscious of the need to stay mentally and physically active as I get older and build new connections and friendships, in real life as well as online 🙂

I am actually now a member of two local U3As. I joined Lichfield originally, but then discovered there was another, smaller U3A in the town where I live (Lichfield is about four miles from me). It’s no problem belonging to two or more U3As and I am by no means alone in this. People generally join one local group first, then sign up to another as an associate at a lower cost. More about this later.

Lichfield U3A – like most others – has a monthly general meeting where there is usually a guest speaker. Every U3A also has a wide range of smaller groups devoted to interests from music appreciation to rambling. These typically meet monthly or fortnightly.

The first general meeting I went to was on the subject of Schooldays Remembered. It was an icy cold day and I was impressed by the number of people who turned up at the meeting hall. I would say the average age was about 70, with women outnumbering men by about two to one. The female presenter was very professional and showed us a series of slides depicting (primary) school days in the mid-20th century. Up to a point I enjoyed it, but I had some reservations, e.g. when the speaker encouraged us all to join in a chorus of ‘All Things Bright and Beautiful’. Considering that many U3A members are from professional backgrounds, including teachers, lawyers and medics, I did find the overall tone a bit patronizing. The speaker revealed that she also ran sessions in care homes and I couldn’t help feeling I was getting a preview of what may be in store for me in the future 😮

Afterwards we went for tea and biscuits. I got chatting with another new member, who I found shared my reservations. He told me he didn’t much enjoy his schooldays and didn’t especially want to remember them! As for me, I have only fragmentary recollections of primary school days. I remember my secondary school days a lot better – not with any great affection, but they weren’t awful either. Personally I would have preferred a more grown-up presentation about education and how it has changed over the decades. I don’t want to be too critical, though. Most people there seemed to enjoy the session, and it did have its entertaining aspects.

I have since been to a couple of other meetings which I enjoyed more. There was a particularly interesting one about the history of travel firm Thomas Cook & Sons. The speaker gave a very informative talk, including slides showing ads for early trips and excursions organized by the company (these were also available to browse afterwards).

As a side thought, there appears to be a circle of professional guest speakers who offer talks to groups on a wide range of subjects, for which they are presumably paid a fee. Not a bad sideline to supplement your pension, I’d have thought!

Beside the monthly meetings, I have also taken part in a quiz which was good fun (my team won – no particular thanks to me – so I took a bottle of wine home). I have also joined several interest groups. These include one for short walks (around 3-4 miles, quite sufficient for me). This has been good for getting some fresh air and exercise and meeting and chatting to other U3A members. The walks are all fairly local. One unexpected benefit has been discovering some beautiful locations I was unaware of, despite living in the area for over 20 years.

I also joined a play-reading group. This meets once a month in a local theatre, with members each taking a part to read. Currently we are reading Lord Arthur Savile’s Crime by Oscar Wilde (the stage adaptation). I was quite active in amateur theatre in my 20s and 30s, so it has been good fun getting back into this again.

I also joined a science and technology group. I’ve only been to one meeting so far, but this was a very interesting session about global weather patterns.

What Else Is On Offer?

Obviously I have only scratched the surface personally. There are dozens of other interest groups available. I have listed a selection below.

art appreciation
birdwatching
croquet
history
philosophy
photography
music appreciation
guitar playing
Mah-jongg
needlecraft
psychology
gardening
architecture

There are also quite a few reading groups. This is a very popular activity, so multiple groups are needed to keep the numbers at a meeting manageable. I haven’t joined one only because I am already a member of a local book club (nothing to do with U3A).

In addition, there are various one-off activities. I’ve already mentioned quizzes. Visits to local places of interest are also popular, as are concert and theatre trips.

Financials

As Pounds and Sense is a money blog, I should say a word about this.

I was actually surprised how inexpensive U3A is. I paid an annual membership fee of just £12 to Lichfield U3A. I also paid £6 to my nearest local U3A to join as an associate member. This gives me access to all groups and activities in both U3As.

Some interest groups do also impose a small charge at meetings. This is no more than a pound or two and covers room hire and/or tea and biscuits. One thing you may find as a U3A member is that you need to carry around a little more small change!

I should also mention that as a U3A member you will receive (at no extra cost) a print magazine titled Third Age Matters. This is published five times a year and contains a range of informative articles about U3A and issues affecting older people generally.

Thoughts And Impressions

It is obviously early days as far as my personal journey with U3A is concerned. But I have been impressed with the range of events and activities on offer. I should maybe add that most take place during the daytime rather than the evening, so you do need to have some time free in the day to benefit from your membership.

U3A is very much run by members, for members. Of course, that is how they keep the costs so low. It does mean that if you find U3A is for you, there is some expectation that you will get involved in helping to organise and run events as well, even if only preparing the tea and biscuits!

As with so much in life, the more you put in to U3A, the more you are likely to get out of it 🙂

If you want to find out more about U3A groups in your area, my recommendation is to search online for U3A plus the name of your nearest town or city. Most local U3As have a website using a standard template and hosting service provided by the national organisation. Here is a link to the site for my local Lichfield U3A, for example. As you will see, the website isn’t exactly cutting edge, but it does the job well enough.

I do think it’s a shame there aren’t more opportunities for U3A members to interact online as well as in real life. Ideally it would be nice if there was a members’ message-board, or at least a Facebook page, where members could chat, ask questions, share photos, and so on. But having run an online forum for writers for a number of years, I am under no illusions about how much work this can entail.

On the plus side, there are also some national and regional U3A events, including summer schools. You can find out about these through your local U3A and Third Age Matters.

I hope you have found this article interesting and it has given you some insights into U3A and what it has to offer. As always, if you have any comments or questions, please do leave them below.

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July 21, 2023

Time to Use or Exchange Your Old Non-Barcoded Postage Stamps!

Nick Everything Else events, shopping 0 Comments

A quickie today to remind you that you have just 10 days left to use or exchange any remaining non-barcoded stamps you may have. The stamps concerned are the plain ones with the late Queen’s head on (all stamps with the new King’s head are barcoded).

Christmas stamps and other ‘special’ stamps with pictures on will continue to be valid for the foreseeable future, but it would still be a good idea to use them up now (or give them to a collector in the family!).

If you can’t use the stamps before the end of July, you can exchange them free of charge using Royal Mail’s Swap Out scheme. You will need to complete a Stamp Swap Out form for stamps worth up to £200, or a Bulk Stamp Swap Out form for stamps worth more than £200. Forms are available from post offices, though note that you cannot exchange the stamps themselves there.

An image from the Royal Mail website showing which stamps can and can’t be swapped is shown below.

The deadline for using plain non-barcoded stamps is 31 July 2023. If you use them after that date, the recipient will have to pay a fee (to be announced) on delivery. That’s assuming they are delivered at all, of course.

As well as post offices, you can print Swap Out forms from the Royal Mail website, or phone their customer services on 03457 740740 to request one. There is currently no deadline for the Swap Out scheme and it will continue after 31 July 2023, though again it may be best to do this sooner rather than later.

For more information on the Swap Out scheme – and barcoded stamps more generally – see Royal Mail’s Barcoded Stamps info page.

As always, if you have any comments or queries about this post (no pun intended!), please do leave them below.

If you enjoyed this post, please link to it on your own blog or social media:

June 28, 2023

My Short Break in Bath

Nick Everything Else property, travel, reviews 6 Comments

I recently returned from a three-day break in the historic city of Bath. It was the first time in over 30 years I’d been to Bath, so it’s fair to say I was approaching it with fresh eyes!

I stayed in a one-bedroom self-catering apartment in a large multi-occupied property called Elmbrook. This was about twenty minutes’ walk from the centre of Bath. I arranged it through Booking.com. I’ll say a bit more about the apartment below.

For those who don’t know, Bath is on the River Avon, about 12 miles from Bristol. Here is a map of the area from Google Maps…

Accommodation

As mentioned, I stayed in a self-catering apartment in a property called Elmbrook. This was on the Weston Road, a short but pleasant walk from the centre of Bath via the Royal Victoria Park and botanical gardens.

You can read more about where I stayed on this page of the Booking.com website (and see photos). One big attraction for me was that a reserved (and free) off-road parking space was available. In Bath – as in many popular tourist areas – finding somewhere to park can be tricky.

The apartment had a good-sized master bedroom with a comfortable double bed. It had a small but perfectly adequate bathroom with a modern power shower (though, somewhat ironically, no bath). The shower worked well and there was plenty of hot water.

The lounge was quite spacious. It was at the front of the house and had a small patio leading from it. Although I didn’t use the patio during my stay, the patio door provided a quick and convenient method for getting my luggage from and to the car! The lounge had a good-quality flat-screen TV and a DVD player with a small selection of DVDs.

The kitchen was at the back of the apartment and had all the facilities you would need or expect, including a modern electric oven and hob, microwave, toaster, fridge, sink, dishwasher, washing machine, and so forth.

The apartment had central heating on a thermostat, though as it was June I didn’t need this. It had free wifi which worked perfectly during my stay (not always the case in my experience). The location was quiet and peaceful, and I slept very well.

Finally I should say that communication from my Booking.com hosts (Nigel and Alison) was excellent. Nigel sent me detailed instructions about how to get there and how to get in (I used the key safe, though he offered to meet me in person if I preferred). They also left me a welcome letter and a basket of goodies, including a bottle of wine, muesli, milk, ground coffee, and so on. That was a kind gesture and obviously much appreciated.

Financials

As Pounds and Sense is primarily a money blog, I should say a few words about this.

I paid a total of £351 (including VAT) for my three-night visit, which works out to £117 a day. I thought that was very reasonable bearing in mind the high standard of the accommodation and the convenience of the location.

Obviously as it was self-catering no meals were included and neither was there a daily housekeeping visit. But on the plus side, I got a lot more space and facilities than I would have had at a hotel, and complete privacy throughout my stay. I’d have to admit that these days I prefer to go self-catering when possible, even if I do miss hotel breakfasts a bit!

Things to Do

I won’t give you a blow-by-blow account of everything I did on my visit. I will share some highlights and personal recommendations, though.

The first thing I did was book a ticket on the Hop On, Hop Off open-top sightseeing buses. My ticket cost me just under £20 after my over-60s discount and a small reduction for booking online. The most you will pay is £22.50, though.

A ticket allows you unlimited travel on two routes, the City Tour and the Skyline Tour. As you would expect, the City Tour takes you round all the main attractions in or near the centre, including the Royal Crescent, The Circus, Bath Abbey, the Roman Baths, Theatre Royal, and so on. You can listen to a commentary that tells you some interesting facts about Bath and its history. Earphones are provided for no extra charge, and you can choose from ten different languages (including English, naturally!). I found this a great way of getting my bearings.

The Skyline Tour takes you further afield, through some of the beautiful countryside surrounding Bath. It affords some wonderful views over the city, and you get to see a range of other interesting locations, including the university, the American museum and two National Trust parks and gardens. Again, an informative commentary is available. On both tours you can get on or off at any of the stops along the route. It’s worth noting that tickets are nominally valid for 24 hours, but I was told you can use them any time over a two-day period, which potentially makes them even better value. I definitely recommend doing this.

One ‘must see’ attraction in Bath is, of course, the stunning Roman Baths that gave the city its name (see cover photo). They aren’t especially cheap to visit (I paid the discounted price of £25 plus £5 for a guidebook), but are definitely worth it. Collect a free handset as you go in. You can then key in the code numbers displayed around the buildings to hear a commentary about what is on view in any particular area. There is loads to see, so I recommend allowing a couple of hours here at least.

Another top tip for visiting the Baths is to pre-book your ticket. I made the mistake of assuming I could just pay the admission fee and walk in, but that’s not generally the case. To manage numbers, visitors have to book a timed slot. I arrived at about midday but the earliest slot available then was 3.15. So I had to book using my mobile phone and come back later. It wasn’t a problem as there were plenty of other things I wanted to see and do – but if I was going again I’d definitely book my preferred day and time well in advance. Similar advice applies to other popular attractions in Bath, including the Jane Austen Centre and the No. 1 Royal Crescent Museum, incidentally.

Another place I especially enjoyed visiting was Bath Abbey. This church and one-time Benedictine monastery in the centre of Bath goes back to the 7th century, though it has been rebuilt several times since then. It is a fine example of Gothic Perpendicular architecture and particularly noted for its beautiful fan vaulting (see my photo below). There is an admission fee but it is relatively modest at about £6.50 (no over-60s discount, I’m afraid!).

I visited the Abbey with my old friend Jeff, who lives quite near Bath. We were lucky in that when we arrived a free tour of the Abbey was just about to begin, led by a knowledgeable voiunteer guide. We found this interesting and informative, especially when he explained about the Abbey’s new underfloor heating system, which is powered by heat from the spa water!

There are some lovely – though not especially old – stained glass windows in the Abbey, as the photo below shows. There are also some informative displays and exhibitions, along with a gift shop and (free) toilets.

Here are a few more quick hints and tips for visitors to Bath, based on my experience…

You can download an excellent free map of Bath from this website. I printed this out and found it invaluable for finding my way around.
Be sure to take a few 20p coins with you. Quite a few public conveniences require these 😮
Keep a close eye on your speed if driving around (or towards) Bath. Many of the roads have a low 20 mph limit.
There is also a low emission zone in Bath, though currently charges don’t apply to most private cars and motorbikes.
You can’t actually swim in the Roman Baths, as this is set up as a tourist attraction. There are, though, a few places you can swim in spa water, most notably the Thermae Bath Spa. Be aware this costs a minimum of £40 for a two-hour session.
As mentioned above, I highly recommend pre-booking visits to popular attractions. Not only will this guarantee admission at your preferred time, it may work out a bit cheaper as well.
But don’t miss out, either, on admiring the stunning Georgian architecture of Bath, including the famous Royal Crescent and arguably even more impressive Circus. This is something you can do for free 🙂
Something I didn’t do on this visit but would quite like to in future is a boat trip on the River Avon. There are various options here, including this one which combines a boat trip with a short walking tour.

Closing Thoughts

As you may gather, I enjoyed my short break in Bath, and am happy to recommend both the city and the accommodation where I stayed for a short break.

Bath is quite compact but there is plenty to see and do. As well as the historical sites, there are lots of charming cafes and coffee shops, and some highly regarded pubs and restaurants. But it can also be a great place to chill out, with lovely green spaces such as the Royal Victoria Park and adjacent botanical gardens (both free to visit). I shall definitely be returning again before too long!

As always, if you have any comments or questions about this post, please do leave them below. Also, if you have visited Bath yourself and have any additional tips or recommendations, I would love to hear them!

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June 12, 2023

Guest Post: How to Manage Your Time and Money in Retirement

Nick Pensions & Benefits, Everything Else property, guest post, retirement 0 Comments

Today I have a guest post that may be of interest to many readers of this blog.

It has recently been reported that nearly 100,000 retirees have returned to work due to the cost of living crisis and the realization that they need more money to live in reasonable comfort.

To help those in or nearing retirement, my friends at Equity Release Supermarket have set out some of their top tips for older people on how best to manage their finances, time, and boundaries with loved ones, to support their overall mental and physical well-being.

Many consider retirement to be the first time in their adult lives that they can relax and prioritize doing what they enjoy most.

This new-found freedom can be overwhelming, however, and establishing a new routine can take time. What’s more, as the cost of living crisis continues, those in and approaching retirement likely need to pay closer attention to their personal finances and outgoings.

Mark Gregory, Founder and CEO at Equity Release Supermarket, explains: “We speak to hundreds of over 55s each week and, for many people, the prospect of spending more time with loved ones and being able to offer support to their family is what they look forward to most. We also see how people want to use retirement as an opportunity to pursue budding interests or fulfil personal goals.

“As a result, it is important that those in and approaching this stage of their life manage both their time and money, helping to get the most from their retirement plan and budget.”

To help, the experts at Equity Release Supermarket have shared steps for retirees to keep on top of their time and finances to ultimately support their well-being and achieve their retirement goals.

Set goals by creating a retirement plan

Whether retirement is a few years away or you’ve already stopped working, we recommend making a retirement plan.

Start by thinking about your long term goals, such as places you want to travel to or whether you’d be interested in learning a new skill in the future. Then, consider what day-to-day activities you enjoy doing, such as spending time with grandchildren or visiting friends, as well as tasks you want to tick off your to-do list. This could include anything from giving your garden a makeover to clearing out old items from the loft.

Mapping out your days, weeks, and even years with goals and activities that will bring you fulfilment will help you organize your priorities for retirement. You could write these goals down in a notepad or even create a vision board.

Regardless of your process, make sure your retirement plan is something you can physically refer to in the future, rather than just having all the ideas up in your head.

Check in with your budget

When it comes to planning your yearly budget, you will need to establish how much money you require for your outgoings and living costs, as well as any big expenses you have planned for retirement. This could be anything from a bucket-list travel destination to supporting a son or daughter in buying their first home.

If possible, you should also aim to create an emergency savings pot, to use for any unexpected expenses.

However, it is important to remember that just because you have set your budget, those figures are not set in stone.

There are many factors that can affect your outgoings, from the ongoing cost of living crisis to personal changes such as marriage, divorce, moving house/downsizing or serious illness. Be flexible with your budget and priorities to accommodate these changes and the impact they may have on your personal finances. You might find that you need to seek out other financial options or guidance to support both your retirement and your loved ones.

It’s also important to continually check whether the money you’ve set aside for big expenses is working for you and your well-being. You might realize that you want to spend more money on things you hadn’t planned for, such as renovating the house or going on a once-in-a-lifetime holiday – in which case, you will need to update your financial plan accordingly.

Communicate with loved ones

Although creating a clear plan for retirement is essential, you also need to be mindful that life does not follow a set path.

From your physical health and mobility to ticking off your travel plans, your goals and potential limitations in retirement will adjust over time – and that’s fine and to be expected.

As difficult as it may be to admit, it can become a burden to spend your free time exactly as planned or support loved ones as much as you hoped. In these instances, it is important to keep communicating with your loved ones and be honest with them, so they can offer you support too. This will help to alleviate any pressure you may be feeling and allow your family and friends to be more accommodating of your situation.

Take care of your physical and mental well-being

It is important to make time in retirement for activities that will aid your well-being, especially as loneliness and depression are increasingly prevalent in later life.

Without the daily company of colleagues, you need to ensure you still get chances to socialize and see friends. Whether it’s arranging a coffee catch-up or joining a new local club, there are plenty of ways to incorporate social activities into the week without spending too much money, seeing both old friends and making new ones.

You can also take up activities that will benefit your physical and mental health at the same time, such as walking or low-impact exercises such as Pilates or yoga.

Think about the future

Although retirement may have been the end goal for your working life, it doesn’t mean you should stop planning for the future.

For example, you can make financial decisions that will save time and money in the long run. This could include minimizing your monthly outgoings to pay off existing mortgages quicker, as well as potentially providing you and your loved ones with more freedom later down the line.

If you’re planning to leave an inheritance to your children or family members, it is also worth considering gifting this money instead. Money gifted through equity release [or otherwise] becomes exempt from inheritance tax, provided that the giver lives for seven years afterwards. This can be a useful strategy for those who want to offer more financial support to loved ones throughout retirement and see the positive impact of this themselves.

So there you have it, five tips for getting the most from retirement. For more information about finances in retirement, visit the Equity Release Supermarket website.

My thoughts

Thanks again to my friends at Equity Release Supermarket for a useful and thought-provoking article.

I do agree it’s important to cultivate a strong social network in retirement, both with existing friends and family and with new friends and connections.

Time and again, studies have found that older people are both mentally and physically healthier when they foster relationships with others and maintain strong social connections. By contrast, social isolation and loneliness in old age have been linked to higher risks of heart disease, obesity, depression, cognitive decline, and so on.

Staying connected is especially important if (like me) you live alone. Social groups such as U3A are inexpensive to join and offer a wide range of activities, from rambling to guitar-playing, bird-watching to music appreciation. It’s well worth checking if there is a U3A group in your area. I recently joined not one but two local U3A groups and plan to write a post about this soon.

it’s also important to pay careful attention to your finances in retirement. On the one hand, you need to watch your income and expenditure to ensure you don’t run out of money in old age. On the other hand, though, you don’t want to deprive yourself without good reason and end up leading an unnecessarily frugal existence in what should be your ‘golden years’.

If you’re unsure about your finances, it can be a good idea to have a chat with a professional financial adviser. You definitely don’t need to be super-wealthy for this. Take a look at my blog post 10 Reasons Over-50s May Need an Independent Financial Adviser for more information. Most advisers (including mine) will be happy to arrange an initial meeting free of charge and without obligation.

As always, if you have any comments or questions about this post, please do leave them below.

If you enjoyed this post, please link to it on your own blog or social media:

June 4, 2023

UK Bloggers Father’s Day Giveaway!

Nick Everything Else competitions, families, shopping, events 1 Comment

Summer is here, so it’s time for another exciting giveaway on Pounds and Sense. This one is themed around Father’s Day, which this year is on Sunday June 18th.

I have clubbed together with some of my fellow UK bloggers to provide a bunch of great prizes guaranteed to put a grin on any dad’s face. And the best news is, it’s entirely free to enter! The giveaway is open now and will close at 11.45 pm on Sunday June 18th.

Without further ado, then, I’ll hand you over to Rowena to introduce the giveaway…

Father’s Day Giveaway

And we’re back! This time to spoil your dad. We have a number of incredible prizes that will make his day! This is not only a giveaway but a gift guide to help you get ideas and inspiration for gifts for your dad (or other special man in your life) this Father’s Day. And for more ideas and inspirations check out these blog posts, The Ultimate Father’s Day Gift Guide and Frugal Father’s Day.

The Prizes

Treat Him Experience Box from Buyagift

Give your dad a fun and unique gift with the Treat Him Experience Box from Buyagift!

Buyagift has hand-picked the finest selection of Tasty Treat, Driving Blast and Adrenaline Adventure experiences to create the perfect gift for any man. From zorbing to supercar driving, gourmet dining to overnight stays, our lucky winner can treat their dad to a wonderful experience he will never forget!

Hoover Cordless Vacuum Cleaner with ANTI-TWIST™ (Single Battery)

Make your dad’s life easier with this incredible prize! Not only will the Hoover Cordless Vacuum Cleaner with an anti-twist and single battery, make cleaning time quicker and easier, but it’s also a practical and useful present. With a Hoover, your dad can easily keep his home clean and tidy, without much effort. It’s a thoughtful way to make his daily routine easier and hassle-free. Plus, who doesn’t love a clean and fresh home? Our lucky winner can surprise their Dad with a Hoover, and watch him become the happiest dad with the cleanest house around!

Features:

- NEW ANTI-TWIST™ floorhead

- Up to 45 Minutes of Power

- Space-saving design and stands unaided for easy storage

- Converts instantly to a handheld with 2-in-1 dusting/upholstery tool

- Lightweight and easy to use

- Exclusive 3-year warranty with this product. Only available at Hoover Direct website, hooverdirect.co.uk

Opinel Complete Picnic+ Set

The Opinel Picnic+ set is the ideal gift for busy dads who need to eat their meals on the go.

The set comes with:

- A No. 08 knife

- Two inserts (a fork and a spoon) that attach to the No. 08 knife

- A microfibre towel case that is both a storage and cleaning device

The inserts are made of stainless steel, so they are nice and sturdy and hygienic (compatible with wooden handled N°08 knives, equipped with the Virobloc safety ring marketed since 2000). We have one picnic set for our lucky winner!

Silk Route Spice Company Grinders

This gift set is undoubtedly the perfect present for your resident chef or culinary friend, especially if they love French food as much as we do. The grinders contain carefully balanced mixtures of herbs and spices hand-selected by specialist chefs to impart a taste of France to any dish of your choosing, be it your homemade soupe a l’oignon or boeuf bourguignon.

The four mixes are: Herbs de Provence, Mustard & Garlic mix, Fine Herb Seasoning and French Quatre mix. Available from Amazon and donated by Dordogne Vie.

Disclaimer: As an Amazon Associate I earn from qualifying purchases

The Bloggers

In order to bring you this incredible giveaway, some of the UK’s top bloggers got together and contributed. A massive thank you to our bloggers! Those taking part are:

How to Enter

You can enter the Giveaway by completing as many Rafflecopter widget entry options below as you like. All entries will be collected and one winner will be randomly chosen. Good luck!

a Rafflecopter giveaway

Terms and Conditions

UK entries only
The giveaway will run from 11:45am 4th June 2023 to 11.45pm 18th June 2023.
The winner will be notified by email from rowena@mybalancingact.co.uk
The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter, YouTube, BlogLovin or Pinterest.
Prize open to over-18s only. Age verification may be required to receive some prizes.
If any prizes are out of stock then we will do our best to find a suitable replacement but cannot guarantee it.
Anyone who unfollows before the giveaway ends or doesn’t complete the required entry action will be disqualified.
The prize is non-transferable, non-refundable, and cannot be exchanged for monetary value.
We may be using a parcel service or Royal Mail for some of the prizes and their standard compensation will apply in the event of loss or damage.
Some items may be sent directly by the supplier and we do not have responsibility if these go missing and we cannot replace them.
In the unlikely event one of the companies withdraws a prize, we cannot offer an alternative.
The winner’s name will be stated on some or all of our bloggers’ websites and announced on Twitter and other social media channels. It will also be displayed on the Rafflecopter form. By entering this prize draw you will be deemed to give your permission for this.
Please note the winner may have the same name as you, so if you see your name displayed, be aware that you are not the winner unless you have been notified by us.
The prizes won’t arrive in time for Father’s Day and there may be some delays in receiving prizes.

Good luck, and I hope a Pounds and Sense reader wins this fabulous prize bundle!

If you enjoyed this post, please link to it on your own blog or social media:

May 29, 2023

Why Are People Opting for Equity Release?

Nick Pensions & Benefits, Everything Else property, pensions, borrowing 0 Comments

I have discussed equity release on various occasions on Pounds and Sense, including my article Should You Use Equity Release to Unlock the Value of Your Home?

As you probably know, equity release is a method of unlocking funds tied up in your property. It is open to homeowners aged 55 and over (60 and over in the case of home reversion plans).

In recent years equity release has become increasingly popular, and even rising interest rates have done little to dampen this trend. So today I thought I would look at the main reasons people are opting for equity release. I am indebted to my colleagues from Equity Release Supermarket for providing information (based on their internal data) on the top reasons people are releasing equity, as well as which reasons are seeing the biggest increases.

The table below shows the top reasons people have been using equity release over the last six months.

Rank	Reason for equity release
1	Repay mortgage
2	Home improvements
3	Debt consolidation
4	Supplement income
5	New/second home purchase

As the table shows, repaying a mortgage is the number one reason over 55’s have released equity. The data shows that, on average, 21.1% of completed cases planned to pay off an existing mortgage with the money released.

Home improvements are the second most common reason, with an average of 17.9% of borrowers raising money for a renovation project.

Debt consolidation is the third most common reason for equity release, at a slightly lower average of 13.7%. Interestingly, when looking at the data by month, using equity release for debt consolidation peaked at 18% in December 2022.

The data also reveals which reasons for equity release have increased in popularity over the last six months, with home improvements seeing the biggest increase, growing by 7.7%.

Gifting money is becoming an increasingly popular reason to release equity too. In the last four months alone, gifting money that has been released through an equity release scheme has risen by 2%.

Mark Gregory, CEO and Founder of Equity Release Supermarket, has commented on the data:

“Equity release is available for homeowners over the age of 55 who wish to free up some of the money, tax-free, that has been built up in the equity of their home. The interest rate is fixed for life and the plan is repaid when the homeowner dies or moves into long term care.

“It is perhaps unsurprising that repaying a mortgage is the top reason for equity release. As interest rates and living costs continue to rise, borrowers will be looking for ways to reduce their monthly payments. By using an equity release scheme, such as a lifetime mortgage, to pay off your existing interest only mortgage you will no longer need to make monthly payments unless desired. This can help make monthly savings and alleviate financial pressures, especially for those who have seen their mortgage payments rise in recent months due to interest rates.

“It is interesting to see that gifting money through equity release has risen over the last six months. Money gifted through equity release becomes exempt from inheritance tax, provided that the gift giver lives for seven years afterwards. Inheritance tax can significantly reduce the amount of wealth that you may be able to pass on, so we often find that many people turn to equity release as a strategy for reducing the impact it will have on an estate.

“In this uncertain economic climate, it is more important than ever that borrowers are getting advice on what product options are available across the whole equity release market. For anyone considering equity release, we would suggest discussing your plans with one of our equity release advisers.”

My Thoughts

If you’re looking for a way to release money from your property – whether to pay off debts/mortgages, fund specific purchases, assist children or other family members, or just make later life more comfortable – equity release is certainly something you may want to consider.

The main downside is – of course – that ultimately there will be less money to pass on to your beneficiaries. All reputable providers, however, offer a no-negative-equity guarantee. They may also be able to arrange plans where a certain amount of cash is guaranteed to remain in your estate, if you so wish.

Equity release interest rates in most cases are fixed for life, so you will know from the start the liability you are taking on. Of course, the longer you remain living in your home, the larger the debt eventually payable from your estate will be.

If you think equity release may be right for you, you will need to discuss this fully with an independent adviser before proceeding. As well as Equity Release Supermarket other well-known firms in this field include Key Equity Release and Age Partnership. The Equity Release Council has a full list of members on its website.

The adviser will discuss your needs and circumstances, and – assuming they think equity release is right for you – make a recommendation from the range of products on the market. You can, of course, speak to two or more different advisers if you wish before making any final decision.

Thank you again to my colleagues at Equity Release Supermarket for their assistance with this post. As always, if you have any comments or questions, please do leave them below as usual.

You may also like to check out this in-depth guide to retirement mortgages from Over 60s Discounts.

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May 10, 2023

My Short Break in Aberdovey

Nick Everything Else property, travel 0 Comments

I recently returned from a three-day break in Aberdovey (Aberdyfi in Welsh). This is a small town on the mid-Wales coast. It was the first time I’d been to Aberdovey, though I’d heard good reports about it from friends.

I stayed in a two-bedroom apartment with a wonderful view across the estuary. I booked through Airbnb. I’ll say a bit more about the apartment below.

I should mention that although I travelled (and stayed) on my own, I met up with an old friend from Birmingham there. David recently lost his wife, for whom he had been caring for several years, so I thought he might appreciate a bit of company on his first solo trip away (I enjoyed his company as well, of course). David stayed at a pub/hotel called the Penhelig Arms. He liked it there, though car parking could be a bit of an issue. It appears their car park has been turned into a beer garden!

Aberdovey is about five miles south of Tywyn and 10 miles north of the university town of Aberystwyth. Here is a map of the area from Google Maps…

Accommodation

As mentioned, I stayed at an Airbnb property in Aberdovey. Under Airbnb’s rules I’m not supposed to reveal exactly where it was, but the location was certainly convenient. It was opposite the main car park, beyond which was the sea. The beach was around two minutes’ walk away, and all the restaurants, cafes and shops were within easy walking distance (not that there are very many – Aberdovey is only a small place).

You can read more about where I stayed on this page of the Airbnb website (you can also read my post about booking a holiday with Airbnb here). The apartment had a good-sized master bedroom with a comfortable double bed, and a smaller second bedroom with twin bunk beds. The latter would have been okay for children but adults might find it a bit of a squeeze.

The apartment had a decent-sized bathroom with (unusually these days in my experience) a bath with a shower over it. The shower worked well and there was plenty of hot water. I did try having a bath on my last night and found the taps very stiff, though. Possibly they don’t get used very much! I reported this to the host as I thought she would want to know, but it was no big deal, obviously.

The living room had a stunning view across the estuary (see photo below). It was quite spacious and had a good quality flat-screen TV (though no DVD player). The kitchen area just off the living room had all the facilities you would need/expect, including a toaster, fridge, sink, cooker, dishwasher, and so forth.

The apartment had gas central heating. As it was April I definitely appreciated this in the evenings and early mornings. There was a main thermostat in the living room and all the radiators also had thermostatic valves.

The apartment had free wifi which worked perfectly during my stay (not always the case in my experience). Although central, the location was quiet and peaceful, and I slept very well.

Finally I should say that communication from my Airbnb host (Irene) was excellent. She sent me very detailed instructions about how to get there, where to park, local amenities, and so on. One big plus was that residents in the apartment can use a council parking permit which allows them to park in the car park opposite (and various other places in Abverdovey) free of charge at any time. I left my car in the car park opposite, which was perfect for me.

Financials

As Pounds and Sense is primarily a money blog, I should say a few words about this.

I paid a total of £480 for my three-night stay. This was made up as follows:

£150 x 3 nights = £450
Cleaning fee £30

I was charged an initial deposit of £225, with the balance of £255 taken from my card a fortnight before my visit. The total price worked out to £160 a day. Obviously that’s not cheap but I thought it was reasonable bearing in mind the high standard of the accommodation and the convenience of the location.

Things to Do

As mentioned earlier, on this break I met up with an old friend, David. We spent some of the time together and some separately, which worked out well.

On our first full day we went on the Talyllyn Railway together (see photo below). This is a heritage steam railway that runs inland from the town of Tywyn, a short drive up the coast road from Aberdovey. I last went on the Talyllyn Railway five years ago (as described in this blog post) and was very happy to do so again.

We bought all-day tickets for £25 each and went all the way up the line and back in the morning. We then had lunch (tomato soup and a bread roll, both very good) at the station cafe in Tywyn. After that we travelled part of the way down the line to Dolgoch. Here we disembarked and spent an hour exploring the picturesque woodland with its many streams and waterfalls (see photo below). We then caught the last train back to Tywyn.

On our second full day we did our own thing. I stayed in Aberdovey, had a good wander round and got to know the place a bit better. I particular recommend the Medina Coffee House (picture below), where I went for both morning coffee and afternoon tea. You can sit inside or out here and enjoy a range of drinks, meals and snacks.

David went to Machynlleth, about 15 minutes drive away. Among other things, he visited the Centre for Alternative Technology (CAT). As a retired builder he was very interested to see some of the innovative building techniques being demonstrated here and said he would like to have stayed longer.

I met up with David each evening for a main meal. On two nights we went to the Penhelig Arms where he was staying. They serve traditional pub food, but none the worse for that. Their prices were very reasonable, and David got a 20 percent discount as a hotel resident, which was a nice touch (they also extended the discount to my meals, which was kind of them).

On the other evening we bought fish, chips and mushy peas from Aberdovey’s only chip ship (photo below). This was a stone’s throw from my apartment. We took it back to the apartment and sat watching the sun set over the sea while enjoying our meals. The food, the view and the company were all excellent!

Final Thoughts

As you may gather, I enjoyed my short break in Aberdovey, and am happy to recommend both the town and the accommodation where I stayed for a short break.

Aberdovey is a lovely place to relax and chill out. With its beautiful beach it could also be a good destination for families with young children. Older children and teenagers might find the lack of other entertainments a bit limiting, however. Although it’s not my thing, there are various water sports you can do there, including sailing, canoeing, sailboarding and paddle-boarding. There are also some lovely walks (and cycle rides) from the town.

In addition, the proximity of the Talyllyn Railway, Machynlleth and Aberystwyth offers good opportunities for days out. Aberdovey definitely isn’t a place you would go for the nightlife, though – even the fish-and-chip shop closes at 8 pm!

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