April 26, 2023

Guest Post: Investing in Classic Cars

Today I am pleased to bring you a guest post on investing in classic cars, a subject which I freely admit I previously knew little about. The article comes from my friends at the popular Car & Classic website.

As they say at Car & Classic, not all collectable metal is gold…

More than ever, nowadays, investors may be on the lookout for sensible use of their cash; there are relatively higher interest rate savings accounts, granted, alongside the usual route to gold and fine art. Even wines appreciate in time, if the right bottles are purchased, and kept untouched.

However, unlike paintings, gold and building society accounts, there is an area of investment which can be actively enjoyed whilst the asset keeps increasing in value: classic cars. The drawback? You need to know which ones!

Introduction

Car & Classic’s CEO Tom Wood and Head of Editorial Chris Pollitt explain the company’s perspective on the classic car market at the end of another unusual year. Launched in 2005, Car & Classic is Europe’s largest classic cars marketplace and welcomes around four million visitors every month. With over 30,000 cars listed at any one time and a thriving online auction platform, it’s an excellent barometer of classic car trends.

The Drive Behind the Desire

Purchasing a classic car is never a straightforward, totally rational process. Most people have memories connected to specific cars of the past; and in the recollection process, those memories resurface, drenched in emotive, romanticised aspects.

It could be the old ‘Sweeney’ Granada, as seen on TV and driven by your dad on the school run, or your favourite uncle’s shiny red Capri: moments associated with events and fantasies of our earlier years. It is a fact that prices associated with ‘Young Timers’ (i.e. cars of the ‘80s, ‘90s and ‘00s, also known as ‘modern classics’) are increasing fast. This is fuelled by a generation coming into the market with money to invest and looking to buy the cars of their childhood, if not the one in the poster on their bedroom wall.

What Are the ‘Modern Classics’?

“The market, both in the UK and abroad, is moving quickly,” says Wood. “Certain vehicles and periods, such as modern classics, are doing well. Recent sales include a Ford Escort RS1600i achieving over £40,000. “We operate in a non-essential sector driven by passion and heritage. Our business is at the intersection of luxury and hobby sectors. We believe that the higher end of our core customer base, vehicles over £100,000, will be lightly affected, if at all, by the downturn. Just last month, we sold an Aston Martin DB2/4 in The Netherlands for 185,000 Euros. ‘Starter classics’ – cars around £5-£10,000 such as MG Midgets, certain Minis or base cars from the ‘70s and ‘80s – may not fetch ridiculous amounts of money, but the interest in them is no less strong.”

Benefits and Advantages

In the current financial climate, the advantages of owning a pre-1983 vehicle are unquestionable: zero cost road fund licence, MOT exemption (though it is advisable to continue testing your vehicle, to avoid safety concerns). In places like London, where Mayor Khan’s proposal to widen the ULEZ out to the M25 is not the most popular of decisions, pre-82 cars are exempt from the charge. Many large cities have a similar scheme and others are following suit. Over-40-year-old classic cars are indeed popular and their values may be increasing, but are they easy to live with?

Cars approaching the 40-year cut-off point, the ‘modern classics’, are in many ways much easier to live with than their older counterparts and accommodating enough to be used as everyday transport if necessary.

1980s and 1990s

The Eighties gave us some great cars that are now as much fun to drive as they were back then; they have a raw energy and connection to the road that modern cars may lack. Some, like this Peugeot 205 CTI [photo in cover image], can be sporty, even with an open top. The Peugeot 205 GTI, Porsche 924/944, VW Golf GTI and Rover SD1 are a few other examples.

Accordingly, auction prices recently fetched reflect their desirability.  “A 1990 Porsche 944 sold at auction for over £10,000 on Car & Classic is a classic (excuse the pun) example,” says Car & Classic Head of Editorial Chris Pollitt. “Want to try your hand at a light restoration, and don’t need the 3-litre engine? Then £5,000 will buy you a shiny red 2.5 2+2 GT 1988 944 Coupé.

“The 944 was considered by many to be a ‘poor man’s Porsche’; however, with fine handling, galvanised body and a reputation for reliability (chrome cylinder bores apart) it is, justifiably, a great entry model for the prestigious marque and a forgiving way into the world of classic cars.”

Brand names that many would assume to be out of their reach, like Rolls-Royce or Bentley, may often be overlooked, as super luxury models fall into disrepair if not properly maintained, and fuel cost may discourage ownership, but good and useable examples can be found for sale. 

“This 1997 Bentley Turbo R [photo below] let its new owner become part of the rarefied community of powerful saloon fans for less than a 2015 BMW 330d M Sport,” says Pollitt. 

Maintenance may be a greater issue for newer cars, counterbalancing some of the potential advantages: 90s’ electronics helped cars become more fuel-efficient and comfortable but upkeep is more onerous if they start to fail and could present owners with hefty garage repair bills, or the home mechanic with the prospect of long, cold days scouring breakers’ yards and internet sites for replacement electronic modules.

The Advice

For Wood, the nature of the hobby is a factor in how it will evolve during what many still expect to be a recession in 2023.

“The good with clear provenance will always attract the best money, but in the year ahead there could be some great bargains to be had too. 

“The best advice is always to buy the best you can afford, no matter what decade the car belongs to. Originality is highly desirable and sells for the highest price, and the same can be said for rarity and a well-documented sales and dealer service history.”

Where Values May Be Going Down

“When talking to owners of older cars; pre-war and up to the early sixties, we are seeing values soften,” says Wood. “From our data, we predict that this will continue through the year ahead as the cost-of-living increases hit home and the impact of increased fuel prices is felt.”

Going Under the Radar

A few cars flying under the buyer’s radar at present come to mind.

As time marches on, specialist cars are becoming affordable and again offer potential investment opportunities. They include later Reliant Scimitars, Lotus Elans and TVR Tasmins [photo below] going for £4,000-8,000.

Humble ‘first’ cars are becoming sought-after too, from the Ford Fiesta, Renault Clio and smaller Peugeots. All are starting to become Cult Classics.

“If you have a big barn, fill it with today’s cars, because as electric vehicles become the norm and Government legislation ostracises combustion engines, today’s bangers could be tomorrow’s classics,” concludes Pollitt. 

A Final Thought

Not unlike fine wines, classic cars (the right ones at any rate) are appreciating over time. Unlike vintage wines, though, they don’t need to be kept locked up in dark cellars and enjoyed just the once!

Thanks again to my friends at Car & Classic for an eye-opening and informative article. Do check out their site and the links to the cars in the article for further ideas and information.

One thing not mentioned above is that, as well as their potential as money-makers, investing in classic cars can offer tax advantages as well. As discussed in this guest article on PAS a few weeks ago, private cars can be sold for any price without attracting a charge to Capital Gains Tax (CGT) and that includes vintage and classic cars. This is particularly significant with CGT tax-free allowances due to be slashed in the coming years. Obviously tax laws may change in future – but according to the author of the article mentioned (an associate in the private client team at law firm RWK Goodman ) that is how the law stands currently.

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

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

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

April 14, 2023

Guest Post: Inflation – What Does It Mean for Your Savings or Loans?

Nick Saving Money, Investing guest post, borrowing 0 Comments

Today I have a guest post for you from my friends at Money Marvel about the effects of inflation on savings and loans.

With inflation currently over 10 percent and prices seemingly rising by the day, this is clearly a big concern for many people right now. It’s not always such a bad thing if you’re paying off debts, though. And if you’re saving for the longer term, higher rates of inflation can actually provide an extra incentive to invest. Learn more in the article below…

If you’ve been following the news at all in the UK over the past year you’ll have no doubt heard about inflation – it has been almost impossible to avoid it in the press. But what actually is inflation? And, more importantly, what does it mean for your savings and loans? Read on for my thoughts.

What is Inflation?

Simply put, inflation is the economic force that drives prices to change over time. Everyone has an item from their childhood that always surprises them with how much more it costs now (for me it’s the Freddo! I remember them being 10p each, now they’re almost 40p). That’s a great example of inflation in action: the gradual increase of prices over time.

Month to month the impact of inflation is generally very small – usually only a couple of percent each year. However, that can add up over time. For example, in the UK, £1,000 in the year 1980 would have the same value as over £4,000 today.

Over the last year, the impact has been even more dramatic. Inflation rates in the UK are now at the highest they’ve been for over 40 years, with the CPI measure of inflation now running above 10%.

It has never been more important to consider inflation when planning your savings or loans.

What Impact Does Inflation Have on Savings?

Unfortunately, inflation is not good news for savers. It means that the cash you’ve built up and set aside will be worth less when you eventually spend it than it was when you first saved it.

In part, that’s why you’ll receive interest as a return on your savings. Savings are a mechanism for you to lend your money to banks and financial institutions, and the interest you get is your compensation for doing so.

You can straightforwardly compare the interest rate on your savings and the current UK inflation rate to see if your money is overall worth less or more over time. For example, if the headline inflation rate is 10% and you’re being offered 5% interest then you know you’re effectively losing 5% in value each year.

Sadly in the current economic reality, it’s almost impossible to find a savings interest rate higher than inflation, so most savers will have to accept the reality that they’ll be losing value year-on-year.

What Can Savers Do About It?

For those that need the security or guaranteed access that comes with a savings account, the unfortunate answer is that there isn’t much you can do about inflation. It’s important to be aware of it so that you can plan your future considering its impact, but sadly there’s nothing you can do to avoid it.

If your time horizons are a bit longer and you’re comfortable with a level of risk, then there are a variety of other investments that promise returns higher than the rate of inflation (for example, by investing in stocks and shares, or physical assets like gold). By their nature, they do come with a significantly higher level of risk and volatility than a savings account does. They may be suitable if you’re planning to save for a long time period (5 years+) and are willing to ride some ups and downs in the meantime.

Inflation alone shouldn’t lead you to take on risks with your savings that you otherwise wouldn’t, but it should help you understand the real returns that different savings products might offer. And if you’re determined to outpace inflation in the long run then savings accounts are likely not to be the best place for your money.

What About Debt?

High levels of inflation are much better news if you’re already holding significant debt. The force of inflation will gradually erode the value of the debt you have outstanding so that you end up effectively owing less money to the bank (or other lending institution). The £ value amount will stay the same, but the value of the money you use to pay off the debt will decline.

You’ll be paying interest to the bank to compensate them for their loss of value, but if you manage to get an interest rate lower than the inflation rate then you’ll be doing well overall. This is the case for many UK residents who took out long-term loans before the recent surge of inflation.

Inflation alone is not a reason to get yourself in debt (the banks will almost certainly have a better projection of future inflation rates than you do!), but it’s one to keep an eye on when thinking about the debt you already have.

Planning for the Future

Inflation is critically important when you’re planning for your financial future. This is most obviously the case when thinking about retirement. If you have more than a few years of working life remaining then money will almost certainly be worth less when you do come to retire.

When looking at retirement planners or pension benefits make sure you keep track of whether the numbers have been adjusted for inflation or not. If they haven’t, then keep that in mind and adjust your plans accordingly.

Many thanks to my friends at Money Marvel for an interesting and eye-opening article. Do check out the Money Marvel website for a wide range of personal finance information, advice and resources.

As always, if you have any comments or questions about this article, or the effects of inflation more generally, please leave them below.

This is a sponsored guest post.

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

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

April 8, 2023

Here’s Why Older Pensioners Especially Should Apply for Pension Credit

Nick Pensions & Benefits events, pensions, benefits 0 Comments

Today I’m focusing on pension credit.

According to the government’s own figures, around a third of retirees who would be entitled to this state benefit aren’t currently claiming it. That means they are potentially missing out on an important boost to their pension.

Even more significantly, it means they may be missing out on a raft of other benefits and discounts too, for which pension credit acts as a gateway. More about this shortly.

Applying for pension credit is especially crucial for people who reached retirement age before April 2016 and therefore receive the old basic state pension rather than the new (higher) one. While it may seem (and indeed be) unfair that older pensioners receive a lower rate, they do have the opportunity to claim the savings credit element of pension credit, which newer retirees don’t.

Savings credit payments can provide an extra boost to your income and entitle you to other payments and benefits as well. And, very importantly, the eligibility rules are different from guarantee credit and (in my view anyway) a bit less stringent. But if you don’t apply for pension credit, you won’t get either.

But before we get into that, let’s recap on what pension credit is.

What is Pension Credit?

Pension credit is a state benefit that comes in two parts: guarantee credit and savings credit.

Guarantee credit boosts your weekly income to £182.60 if you’re single or £278.70 if you’re a couple (figures correct from 6 April 2023). You should be eligible for guarantee credit if you have reached state pension age and your total income is less than these amounts (even if you own your own home).

If you have under £10,000 in savings and investments this will not be taken into consideration. If you have over £10,000, it will be assumed that you earn £1 a week per £500 of savings and investments. This will be added to your total income when working out your eligibility for guarantee credit.

Savings credit is only available to people who reached the state pension age before 6 April 2016. It is meant as a reward for those who have made some additional provision for their retirement. It’s worth up to £15.94 a week for a single person or £17.84 for couples (2023/24 figures). Somewhat counter-intuitively, to qualify you must have a minimum income of £174.49 a week if you’re single and £277.12 a week for a couple (again 2023/24 figures). You must also have some savings or other extra income provision (e.g. a private pension).

It’s worth adding that if you pay mortgage interest or have other housing costs, have caring responsibilities, are responsible for a child, or are severely disabled, you may be entitled to more pension credit. If you receive attendance allowance or carers credit, for example, this may boost the amount that you’re entitled to.

The rules surrounding all this are complicated, but the government has provided a free online calculator you can use to work out whether you qualify and how much you might get. This is for guidance only, however. You can’t apply via the calculator and there is no guarantee you will receive the amount it shows you.

Until recently to actually apply for pension credit you had to phone the DWP’s pension credit helpline on 0800 991234 with your Nl number, details of your income, savings and investments, and your bank account details. The person you spoke to would then then take you through the application process. This option is still available, but recently an option to apply online has been added. This is quite separate from the free online calculator mentioned above.

As I recently helped an elderly friend do this, I can confirm that the online method works well, though the questions asked don’t entirely correspond with the questions on the free online calculator. But using the latter first should give you an idea whether you are likely to qualify for pension credit and how much you might get. You can also try the effect of changing the amount of capital/income in the calculator to see if you might qualify in future even if you don’t at present (perhaps due to having too much in savings).

Additional Benefits

As well as the money – which can amount to thousands of pounds a year – if you receive pension credit you will be entitled to a range of additional discounts and benefits. These may include:

reduced (or free) council tax
housing benefit
free TV licence if you are over 75
free NHS dental treatment
help towards the cost of glasses
help with the cost of travel to hospital
cold weather payments
automatic entitlement to the Warm Home Discount
free home insulation and boiler grants
extra money if you’re a carer
government cost of living payments

Even if you only receive a small amount of pension credit, you may be eligible for any of the above. So it really is well worth applying if there is any chance you may qualify.

More About Savings Credit

As I said above, only older pensioners who retired before April 2016 can get savings credit. But potentially a lot more people in this category may be eligible for it than is the case with guarantee credit.

Whereas guarantee credit is only paid to pensioners on a low income and with limited savings, that isn’t necessarily the case with savings credit. As I noted above, to qualify for savings credit there is actually a minimum earnings limit. And you do actually need to have some savings (or other income source/s apart from the state pension) to be eligible.

The rules are complicated, so – as I said above – the best thing is to use the free online calculator. If it appears you are eligible for savings credit (or guarantee credit) it will tell you, and how much.

It should be said that if you are only awarded savings credit and not guarantee credit, you may not qualify for all of the extra benefits mentioned above (free NHS dental treatment, for example). But you should still qualify for some, including (very importantly) the government’s extra ‘cost of living’ payments, which in 2023 will comprise three payments totalling £900. That alone is likely to be worth more than the savings credit payments themselves.

Even if, with savings credit only, you don’t qualify for the whole of the discounts mentioned, you may at least be eligible for a partial reduction in some cases.

For the latest news and information about pension credit, please click here.

Closing Thoughts

To sum up, if you’re of state pension age and have a limited income or savings, you should certainly look into pension credit. Similarly, if you have elderly friends or relatives, you should check eligibility on their behalf (with their permission, of course).

As I’ve said above, this applies especially to anyone who started receiving the state pension before April 2016 and is therefore getting the old basic state pension. This is lower than the new state pension, but you may potentially be eligible for the savings credit element of pension credit (as well as guarantee credit, which anyone of state pension age can qualify for).

While savings credit is generally only a small amount, receiving it will make you eligible for a range of other discounts and benefits, including the government’s cost of living payments. So it really is well worth checking on the free online calculator and then applying (by phone or online) if it appears you might be eligible.

Finally, you might like to know that (thankfully) my friend’s online application was successful. He got a letter a week later saying that he would be receiving pension credit (savings credit only) at a rate of about £5 a week, rising to just over £6 a week in April. Naturally he was pleased to hear this. And he was even more pleased when he realised he would be getting extra cost of living payments starting with £301 later this month, and other benefits and discounts as well. As an 83-year-old man who has recently lost his wife, this will certainly help make life a little more bearable for him in the months ahead.

As always, if you have any comments or questions about this article, please do post them below. Just bear in mind that I am not a qualified financial adviser or benefits adviser and cannot provide personal financial advice. If you require specific advice or assistance, your local Citizens Advice office would be one good place to start.

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

April 3, 2023

My Investments Update – April 2023

Nick Making Money, Investing events, reviews, crowdfunding 1 Comment

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

I’ll begin as usual with my Nutmeg Stocks and Shares ISA. This is the largest investment I hold other than my Bestinvest SIPP (personal pension), from which I recently started withdrawing again.

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £20,632. Last month it stood at £20,680 so that is a modest fall of £48.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,170 compared with £3,162 a month ago, a (very) small increase of £8. Here is a screen capture showing performance since the start of this year.

As you can see, this has been a roller-coaster month for both my Nutmeg pots, though overall the dial hasn’t moved very much. My Smart Alpha portfolio has done a bit better than my main portfolio and I might be tempted to switch more of my money into it, though there clearly isn’t a massive difference in performance between them.

The net value of all my Nutmeg investments has fallen this month by £40 or 0.17% month on month. That is obviously a little disappointing, but both pots are still comfortably up on where they were at the start of the year. And their total value has risen by £1,890 (7.77%) since mid-October last year.

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.

Also, as you may know, both my Nutmeg pots have quite high risk levels (9/10 main, 5/5 Smart Alpha). If you haven’t yet seen it, you might like to check out my blog post in which I looked at the performance over time of Nutmeg fully managed portfolios at every risk level from 1 to 10 . I was pretty amazed by the difference risk level makes, with higher-risk ports over almost any period of three or more years in the last ten generating significantly better overall returns. If you are investing for the long term (and you almost certainly should be) choosing a hyper-cautious low-risk level might not be the smartest strategy. The one exception is if you plan to withdraw your money shortly and don’t want to risk losing too much if there is a sudden downturn.

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.

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 £108.37 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, 6 of ‘my’ properties are showing gains, 4 are breaking even, and the remaining 16 are showing (small) losses. My portfolio is currently showing a net decrease in value of £26.97, meaning that overall (rental income minus capital value decrease) I am up by £81.40. That’s still a reasonable rate of 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 a little disappointing. But it’s important to bear in mind that unless and until I choose to sell the investments in question, it is largely theoretical. 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).

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. 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].

Another property platform I have investments with is Kuflink. They continue to do well, with new projects launching almost every day. I currently have around £2,500 invested with them in 18 different projects. 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.

My loans with Kuflink pay annual interest rates of 6 to 7.5 percent. These days I invest no more than £200 per loan (and often less). That is not because of any issues with Kuflink but more to do with losses of larger amounts on other P2P property platforms in the past. My days of putting four-figure sums into any single property investment are behind me now! Nowadays I mainly opt to reinvest the monthly repayments I receive from Kuflink, which has the effect of boosting the percentage rate of return on the projects in question

Obviously a possible drawback with Kuflink and similar platforms is that your money is tied up in bricks and mortar, so not as easily accessible as cash savings or even (to some extent) shares. They do, however, have a secondary market on which you can offer any loan part for sale (as long as the loan in question is performing and not in arrears). Clearly that does depend on someone else wanting to buy it, but my experience has been that any loan parts offered are typically snapped up very quickly. So if an urgent need arises, withdrawing your money (or part of it) is unlikely to be an issue.

You can read my full Kuflink review here. They offer a variety of investment options, including a tax-free IFISA paying up to 7% interest per year with built-in automatic diversification. Alternatively you can build your own IFISA, with most loans on the platform being IFISA-eligible.

Until 31 May 2023 Kuflink are offering enhanced promotional rates of up to 9.73% (gross annual interest equivalent rate) for their Auto-Invest products (IFISA-eligible). There is limited availability for this offer and it may be withdrawn any time before 31 May 2023 if the limit is reached. For more information, click here [affiliate link].

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. I also invested a small amount I had left over in Tesla shares. My original investment of $1,022.26 is today worth $1,113.72, an increase of $91.46 or 8.95%. in these turbulent times I am very happy with that.

As I said last time, my big success was investing in Tesla at the right time, as their share price has risen by over 86%. If only I had put more than $19 into this!

My copy trading portfolio with Aukie2008 is well in profit. My most recent investment in Oil Worldwide, having started well, is still down fractionally (some might say this serves me right for investing in fossil fuels!). But I am certainly not going to worry about that at the moment.

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 recently and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here.

I had two more articles published in March on the always-excellent Mouthy Money website. One is Some Ways to Save Money on Council Tax. Along with fuel bills and mortgages, council tax is many families’ single largest item of expenditure. There are various ways you may be able to reduce this bill (or even avoid it altogether), though. In this article I go through a range of methods, including household-based, income-based and property-based.

My other piece was Always Wanted to be in the Movies? Let TV Studios Use Your Home for Money. Clearly this opportunity won’t work for everyone. But if you live in a place with features that might be in demand by a TV or film production company, you can potentially make hundreds or even thousands of pounds. And as I say in the article, you definitely don’t need to live in a stately home. Studios need all types of properties – from two-bed terraces to penthouse flats, country cottages to 1970s-style bachelor pads!

Speaking of Mouthy Money, you might also like to read my in-depth blog post about this personal finance website which I wrote in March. It’s called (without any great originality, I know) Have You Seen Mouthy Money?

As you may know, I am nowadays contributing two articles a month to Mouthy Money, so you’ll understand that I have good reason for wanting to promote it 🙂 But that aside, it is an excellent resource for anyone interested in money-making and money-saving. I always look forward to reading the articles by my fellow contributors. Shoestring Jane is a particular favourite of mine. With Easter on the horizon, I highly recommend her latest article, How to Have a Frugal Family Easter.

Several of my other Pounds and Sense blog posts from March are no longer relevant due to deadlines passing so I won’t bother listing them here. You might perhaps like to read Two Places You Really Shouldn’t Turn for Tax Advice (and One You Definitely Should), though. This is an update of an article I wrote a while back, but it’s on a subject I feel quite strongly about and is still 100 percent relevant.

Finally, as I write this update there are just two days left to the end of the financial year on 5 April 2023. That means you have just two days remaining to make use of your 2022/23 tax-free ISA allowance before it is gone forever. With other tax-free allowances already set to be slashed in the years ahead, it’s more important than ever to make the most of this one while you can. Here’s a link to my recent blog post on this subject.

That’s all for today. I hope you and your family are coping in these challenging times. Don’t forget to check out the government’s Help for Households website, which sets out various types of financial assistance you may be entitled to and is regularly updated.

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!

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