Use Your Tax-Free ISA Allowance Before It's Too Late!

Don’t Miss Out! Use Your £20,000 ISA Allowance Before It’s Too Late

As the end of the tax year on 5 April 2024 approaches, so too does the deadline to utilize the annual tax-free Individual Savings Account (ISA) allowance.

The clock is ticking, and unless you take action in the next couple of weeks, this opportunity to maximize your tax-free savings for the 2023/24 financial year will be gone forever.

ISAs are a popular choice for savers and investors alike, offering a tax-efficient way to grow your wealth. With a diverse range of options available, from cash ISAs to stocks and shares ISAs and innovative finance ISAs, individuals have the flexibility to tailor their savings strategy to suit their financial goals and risk appetite.

The current ISA allowance stands at £20,000, providing a significant opportunity to shield your savings and investments from tax. This allowance represents a generous sum that, if left unused, cannot be carried forward to future years. In essence, any portion of the £20,000 allowance that remains untapped by the upcoming deadline will be lost, representing a missed opportunity for tax-free growth.

For those who have yet to fully utilize their annual ISA allowance, now is the time to take action. Whether you’re looking to bolster your rainy-day fund with a cash ISA or seeking to invest in the stock market through a stocks and shares ISA, there’s no shortage of options available. But bear in mind that under current rules you can only invest in one of each type of ISA in any one tax year (though this rule is changing from 2024/25). So if you already invested in, say, a stocks and shares ISA this year, you are not allowed to invest in a S&S ISA with a different provider in the current tax year. You will only be able to top up your current S&S ISA to whatever remains of your total £20,000 allowance.

Cash ISAs offer a secure and accessible way to save, providing a tax-free environment for your savings with the added benefit of easy access to your funds when needed. Meanwhile, stocks and shares ISAs open the door to potential higher returns by investing in a wide range of assets such as equities, bonds, and funds, albeit with a higher level of risk. With a stocks and shares ISA you will never incur any liability for dividend tax, capital gains tax or income tax, even if your investments perform exceptionally well. Of course, there is no guarantee this will happen, but over a longer period stock market investments have typically outperformed cash savings, often by a substantial margin.

  • In recent years I have invested much of my own annual ISA allowance in a stocks and shares ISA with Nutmeg, a robo-manager platform that has produced good returns for me. You can read my in-depth review of Nutmeg here if you wish.

With just a few weeks left to take advantage of this valuable tax benefit, procrastination could prove costly. By acting now, you can ensure that your savings and investments are positioned to grow tax-free, setting yourself up for a better financial future.

In summary, the £20,000 annual ISA allowance for the 2023/24 tax year presents a golden opportunity for UK residents to maximize tax-free savings and investments. Time is of the essence, though, and unless you act before the impending deadline on 5th April 2024, this valuable allowance will be lost forever. If you have the money available, therefore, seize the opportunity now to help secure your financial future.

As always, if you have any comments or questions about this article, please feel free to leave them below.

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.

 

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Trading 212 review

Get a Free Share Worth Up To £100 With Trading 212

Offer Reopened!

Today I’m featuring a way you can get a free share worth up to £100 by signing up with an online share trading platform called Trading 212.

Trading 212 is unusual in that it offers commission-free and fee-free share trading. As a special offer, until 16 April 2024 they are offering people new to the platform a free share just for signing up via a referral link (such as the links in this post). The share you will get is chosen at random, but could be worth up to £100. You can either keep this share or sell it.

How to Sign Up

Signing up with Trading 212 is pretty straightforward. Just visit the Trading 212 website via any of the (referral) links in this post and follow the on-screen instructions to register. Note that you will be required to provide various items of information, including your date of birth, National Insurance number, annual income, employment status, and contact details. I understand that this is to meet their legal ‘Know Your Customer’ duty.

You will also need to indicate the type of account you want from the three options available (see screen capture below).

Trading212 account types

As you will see, the three account types on Trading 212 are CFD, Invest and ISA. You can apply for one, two or all three of these if you like.

CFD stands for Contract for Difference. CFDs are quite complex financial instruments, and unless you know what you’re doing I recommend giving them a miss. As you can see, you can also use this type of account for trading in Cryptocurrencies. Again this is pretty high risk and not something that appeals to me personally.

I would also recommend thinking carefully before you tick the ISA box. An ISA is, of course, a tax-exempt Individual Savings Account. Nothing wrong with that, except you can only invest in one of each type of ISA (Cash, Stocks and Shares, IFISA) in any one tax year (though this will change from April 2024).

Trading 212 are offering a Stocks and Shares ISA, so if you have already invested in one of these this year (e.g. with Nutmeg), you won’t be able to open another. Equally, once you invest in a Trading 212 ISA, you won’t then be able to open another Stocks and Shares ISA in this financial year. So you do need to be pretty sure that is how you want to use your 2023/24 Stocks and Shares ISA before doing this.

All you need to take advantage of the Trading 212 offer is a standard Invest account, so I recommend ticking this box only (as per the screen capture above).

Getting Your Free Share

There is one more step you will need to take in order to get your free share. You will need to deposit a minimum of £1 into your account. There are various ways you can do this, but i just used my debit card. There is no obligation to invest the £1 (or whatever you choose to deposit) and if you wish you can withdraw it once your free share has been credited.

The next business day you should receive an email confirming that a free share has been added to your account. As mentioned above, this is allotted at random. If you’re lucky you might get one worth up to £100. Even if you get a less valuable one, though, it’s still a share for free. If you choose to keep it, it may rise in value. There may also be dividends payable in future (and credited to your account).

  • Already have a Trading 212 account? You can also get a free ETF share worth up to £200 (and now guaranteed to be worth at least £10) with new DIY wealth-building app Wealthyhood. A minimum investment of £50 is required to get the free share (although if you’re not bothered about this you can start investing on the platform with as little as £20). Click through here for more info!

Selling Your Share

You can’t sell your share immediately. You have to wait three business days before doing so, but it is then just a matter of clicking the Sell button on your member’s dashboard.

The money will be credited to your Trading 212 account but you will have to wait 30 days before withdrawing it. So there may be a case for waiting to see if your share’s value goes up in that time. Of course, it could also go down!

In my case, I received a free share in the Ford Motor Company worth about £8 at the time. Obviously this wasn’t as exciting as I might have hoped, but it was still – in effect – free money for almost no time or effort 😀

How Safe Is Trading 212?

Trading 212 is registered in England and Wales and authorized and regulated by the Financial Conduct Authority. In addition, all clients’ funds are kept separately in segregated bank accounts which are covered by the Financial Services Compensation Scheme. So even if the company itself were to go broke, any cash in your account would be protected up to a value of £85,000.

Of course, the FSCS guarantee doesn’t apply to the value of your stocks and shares, which can go down as well as up. All investments carry a risk of loss, although in the case of your free share you can never lose any more than the original cost, which was of course zero!

Referral Scheme

Any Trading 212 member can also refer new members. In this case, both you and the person concerned will receive one free share worth up to £100. Obviously, the links in this blog post include my referral code – so if you register and get a free share, I will receive one also. Under the terms of the current offer you can get up to five free shares in this way. Five is the limit per person. Although you can still refer new members who will get a free share after this, as a referrer you won’t receive one as well.

Final Thoughts

I first heard about Trading 212 a while ago, but wasn’t initially sure whether it was legit and here for the long term. And I thought the free share offer was, frankly, too good to be true. However, my own experiences have been entirely positive. My original free share in the Ford Motor Company was credited the next business day as promised and I received an email notifying me about it.

I can log in to my Trading 212 account any time to see how my Ford share is doing. I have also collected a few other shares from referrals as well. These include a share in AMD (the semiconductor company), which is currently worth £151.51, and one in Nike, which is worth £88.33. I still have my original Ford Motor Company share and it has risen in value to £9.65. I also received an annual dividend payment from them a while ago. I haven’t sold any of my free shares yet but could of course do so any time I choose. I am not in any rush, as Trading 212 do not impose any platform or inactivity fees. 

Although in this post I have focused on the free share offer, Trading 212 is worth considering as a share-dealing platform too. In particular, the fact that it’s fee-free and commission-free means it is well suited for people who are dipping a toe in stocks and shares investment for the first time. By contrast, the dealing fees and commissions charged by some other share-trading platforms can make small share purchases prohibitively expensive. This review by Money Savvy Daddy looks at the pros and cons of Trading 212 as a share-dealing platform in a bit more detail.

In conclusion, I hope this post has inspired you to consider registering with Trading 212 to claim your free share. If you do, I hope you get a valuable one! Please let me know what share you receive in a comment below. And, as always, any other comments or questions are very welcome too.

  • Don’t forget, the current free share offer ends on 16 April 2024.

Disclosure: The links in this post include my referral code. If you click through and register as described above, I will receive a free share (as will you). Please note also that I am not a qualified financial adviser and nothing in this post should be construed as individual financial advice. Everyone should do their own ‘due diligence’ before investing and seek advice from a qualified financial adviser if in any doubt how best to proceed. All investment carries a risk of loss (although not in the case of free shares, obviously).

This is an update of my original post about this special offer.

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Beat the Postage Stamp Price Rise

Beat the Postage Stamp Price Rise!

A quickie today to let you know that the price of stamps is rising (again!) on Tuesday 2nd April 2024.

Standard second-class stamps will be going up by 10p to 85p, while first-class stamps will also rise by 10p to £1.35.

A first-class stamp for a large letter will rise by 15p from £1.95 to £2.10. The price of a second-class stamp for a large letter will remain at £1.55.

Standard letters can weigh up to 100g and measure a maximum of 24cm x 16.5cm x 5mm. Large letters can measure 35.3cm x 25cm x 2.5cm but still have to weigh under 100g. If they weight over 100g, higher rates apply, and if they weigh over 750g they have to go at parcel rates.

Saving Money on Stamps

So is there anything you can do to mitigate the impact of the latest price rises?

Well, my number one recommendation is to stock up now while stamps are still at the old price. Standard and large-letter stamps don’t have values printed on them and will still be valid after the April price rise comes in.

If you can afford to buy (say) 100 standard first-class stamps and 100 second-class, that will save you an impressive £20 in total. If you’re anything like me, that will keep you going till Christmas 2024 and beyond!

The best bet for buying stamps is – of course – your local post office. If you don’t have one near at hand, however, you can also buy in bulk from various suppliers, including Viking Direct. They sell books of first and second class stamps at the current price, with postage free for orders of over £59. You can also buy stamps online from The Royal Mail Shop.

Amazon also sell postage stamps, though costs vary and when I checked some prices were significantly higher than at post offices. But they may be worth a look, especially if you are an Amazon Prime member.

Another option to consider is the online auction site eBay (search for “new UK stamps”). There can be good savings to be made here, but check reviews and ratings carefully and be wary of offers that are clearly too good to be true.

For more information about the price rise and all the new rates from 2rd April 2024, you can access the Royal Mail April 2024 pricing guide here (PDF).

If you have any comments or questions about the above, as always, please do post them (no pun intended!) below.

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Investments Update March 2024

My Investments Update March 2024

Here is my latest monthly update about my investments. You can read my February 2024 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).

As the screenshot below for the last 12 months shows, my main Nutmeg portfolio is currently valued at £ £22,994. Last month it stood at £22,386 so that is a welcome increase of £608.

Nutmeg main port March 2024

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,640 compared with £3,530 a month ago, a rise of £110. Here is a screen capture showing performance over the last 12 months.

Nutmag Smart Alpha port March 2024

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). As you can see from the screen capture below, this is now worth £530, an increase of £11 since last month and £30 or 6% over the three-month period since I first invested.

Nutmeg thematic port Mar 2024

February was obviously a good month for my Nutmeg investments. Overall I was up £737 or 2.79%. In these turbulent times I am more than happy with that.

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), Lifetime ISAs and Junior ISAs as well.

  • Don’t forget, the current tax year ends on 5 April 2024 and after that the 2023/24 tax-free ISA allowance of £20,000 will be gone forever!

I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £1,570 invested with them in 10 different projects paying interest rates averaging around 7%. I also have £14 in my Kuflink cash account.

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.

There is now an initial minimum investment of £1,000 and a minimum investment per project of £500. Kuflink say they are doing this to streamline their operation and minimize costs. I can understand that, though it does mean that the option to test the water with a small first investment has been removed. It also makes it harder for small investors (like myself) to build a well-diversified portfolio on a limited budget.

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 five years. Interest rates range from 7% to around 10%, depending on the length of term you choose. Full up-to-date details can be found on the Kuflink website.

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 £168.53 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, 10 of ‘my’ properties are showing gains, 4 are breaking even, and the remaining 15 are showing losses. My portfolio is currently showing a net decrease in value of £40.01, meaning that overall (rental income minus capital value decrease) I am up by £128.52. 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.

The overall fall in capital value of my AE investments is obviously a little 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’ve reinvested 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 (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.

  • As I noted in this recent post, Assetz Exchange is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I reinvest this money in either a new AE project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with AE grows at an accelerating rate.

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].

In 2022 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 captures below, my original investment totalling $1,022.26 is today worth $1,238.51, an overall increase of $216.25 or 21.15%.

eToro Welcome March 2024

eToro port March 2024

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 with them.

  • eToro also offer the free 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. Note that it can also serve as a cryptocurrency wallet, allowing you to send and receive crypto from any other wallet address in the world.

I had three more articles published in January on the excellent Mouthy Money website. The first is How to Save Money on Motoring. Like everything else in life the cost of motoring is going up and up, so in this article I set out a variety of ways – from ride-sharing to driving for fuel economy – you may be able to reduce it.

Also in February Mouthy Money published Are You Making the Most of Your Annual ISA Allowance?. As mentioned earlier, the 2023/24 tax year ends in just a few weeks’ time. And after that the £20,000 tax-free ISA allowance for that year will be gone forever. In this article I describe the different types of ISA – Cash ISA, Stocks and Shares ISA, Innovative Finance ISA (IFISA) and Lifetime ISA (LISA) – and explain how they work and the differences between them. I also provide some tips and advice for making the most of your annual ISA allowance.

My final article published on Mouthy Money last month was Can You Save Money on Your Shopping with JamDoughnut? Regular PAS readers will know that I am a fan of the JamDoughnut app, which enables you to save up to 20% on purchases with a growing range of retailers. The article also reveals how you can get a £2 head-start by using my referral code.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. I am a particular fan of my fellow MM contributor and money blogger Shoestring Jane. She writes mainly about money saving and frugal living. Her latest article Frugal Skills to Save You Money sets out a selection of life skills that can save you money (and aren’t hard to learn). You can see all of Jane’s articles for Mouthy Money via this web page.

I also published several posts on Pounds and Sense in February. I won’t bother mentioning those that are no longer relevant now, but the others are listed below.

In Get Your Will Written Free of Charge in March I revealed how you can get your will written (or updated) free of charge during Free Wills Month. This regular event supports a range of leading charities. Obviously the hope is that you will include a bequest to charity in your will, but there is absolutely no obligation to do this. Free Wills Month is now up and running. If you want to take advantage and get your will written free, I recommend acting now as there are only limited spots available.

Also in March I published a guest post titled Building Your Own Home – It’s Not Just for the Super Rich! This post was written on behalf of Suffolk Building Society, who are trying to raise awareness of the self-build option in the UK. As they say in the article, they can provide mortgages to purchase land suitable for self-build projects. SBS emphasize that this option is suitable and available for ‘ordinary people’, not just the super-rich folk you see on TV shows like Grand Designs!

I also published Saving for a Rainy Day or a Stormy Breakup? The Surprising Facts About Secret Savings Accounts. This post is based on some eye-opening research from my friends at Smart Money People, which revealed (among other things) that one in ten people in a serious relationship, including marriage, civil partnerships, or cohabitation, maintain a secret savings account. Find out more in this post.

Finally, in What is AER and Why Is It Important to Savers and Investors? I revealed what AER is and why both savers and investors need to understand it. This was really a follow-up to my article last month about the importance of compounding to investors. The article reveals how more frequent compounding increases AER (annual equivalent rate) and includes the formula used to calculate this.

  • Also, from January this year I became a regular contributor to the new Over 60s Discounts website. You can read my latest article here: Who Cares for the Carers? This is about help available for unpaid carers in the UK, both financial and practical. I highly recommend registering at Over 60s Discounts, by the way – they list a growing range of discounts and bonuses for older people, including some that are unique to O60D.

One other thing is that this month I switched my Santander 123 Lite current account to a Santander Edge current account. I will try to find time to write a separate post about this soon. But briefly, my main reason was because having an Edge current account allows you to open an Edge savings account, which offers a market-leading 7% interest rate (AER) for amounts of up to £4,000 for one year (it then falls to 4.5% AER).

The Santander Edge account has slightly higher fees (£3 a month as opposed to £2) and the cashback on offer is slightly less. However, when I crunched the numbers, the value of having an Edge savings account easily outweighed this. Though I am fortunate in that I had £4,000 I could put into it immediately from another, lower-paying savings account. If I hadn’t had that, it wouldn’t have been worth switching to the Edge account.

Finally, a quick reminder that you can also follow Pounds and Sense on Facebook or Twitter/X. 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!

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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Mothers Day Giveaway and Gift Guide

Mother’s Day 2024 Giveaway and Gift Guide

Mother’s Day is coming, so here’s a chance to make it extra special for one lucky winner!

I’ve joined forces with some of my fellow UK bloggers in this giveaway with multiple prizes.  Entering the giveaway is free of charge and full instructions can be found below.

There are multiple ways to enter, and the more you do, the better your chances of winning. But note that where an entry requires following a social media account, you will need to continue following this account until the winner has been drawn on Sunday 10th March 2024 (Mother’s Day). Before the winner is announced the organisers will check that they are still following the account in question. If not, they will be disqualified and another winner drawn.

This giveaway has been organised by my fellow blogger Rowena Becker, who blogs at My Balancing Act. Please check out her blog and those of the other talented bloggers taking part (listed below). And read on for full details from Rowena of all the prizes on offer and how you could win this great prize bundle!


 

Welcome to the ultimate Mother’s Day Giveaway and Gift Guide! This is brought to you by a collaboration of some of the UK’s leading bloggers.

We understand that finding the perfect gift to express gratitude and love for the special women in our lives can be a daunting task. That’s why we’ve come together to curate an exceptional selection of prizes that are sure to delight any mother.

This guide not only aims to make your gift shopping easier but also adds an exciting twist with a giveaway that could win you these wonderful items.

Join us in celebrating motherhood this year by taking part in this fantastic opportunity to spoil your mum – or yourself! Show her just how much she means to you ❤

Meet the Bloggers

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

My Balancing Act | Pounds and Sense | Boxnip | Jenny in Neverland | Crazy Little Thing Called Love | Best Things To Do In Cambridge | Two Plus Dogs | Afshanesque | My Frugal Wife | Crafted With Perfection | Mrs Pinch | Make Money Without A Job | Hannah and the Twiglets | Paternal Damnation | Accidental Hipster Mum | Birds and Lilies | The Happy Budget | Notes from a kitchen | Cats Kids Chaos | Everything Enchanting | Life with Jupiter & Dann | Effervescent Kelly | You Have To Laugh | My Tunbridge Wells | Edinburgers | Discover Kent | Mummy and me x2 | Catch Up With Claire | Synderella Slims | Beauty & Flowers | We Made This Life | My Life Your Way | We Made This Vegan | Real Girls Wobble | Lifestyle Original | Dog Friendly Things | Joanna Victoria | At Home With The Bayfords | Cosy Cottage Chronicles | Diary of the Evans-Crittens | A Suffolk Mum | Sustainable Business | Anything and Everything Else | Cyprus Property Blog | The Money Making Mum | The Property Investor Blog

The Prizes

Art File Jungle Animals 1000 Piece Jigsaw Puzzle from Gibsons Games

Delight in the vibrant Art File Jungle Animals 1000 Piece Jigsaw Puzzle. A tribute to the diverse beauty of our planet’s wildlife. Crafted with precision and creativity by an award-winning designer from The Art File, this puzzle captures the essence of nature’s splendour. As a joint venture between Gibsons Games and The Art File, two renowned British family businesses, this jigsaw puzzle represents their shared commitment to quality and innovation.

Each of the 1000 pieces contributes to a stunning visual experience, making it not just a puzzle but a piece of art. This makes it an excellent gift for mums who appreciate both the challenge of a jigsaw and the aesthetics of fine art. Plus, it’s part of our exciting prize bundle – a perfect blend of challenge, relaxation, and artistic appreciation.

Jigsaw

Liquid Silk Perfect Cleansing Oil (100ml) from DJUSIE

Introducing Liquid Silk Cleansing Oil, the ultimate cleansing oil that will leave your skin feeling smooth and rejuvenated. Designed for all skin types and ages, this luxurious oil delivers a refreshing clean to both oily and dry skin, leaving it perfectly balanced and radiant. Not only is it functional. It also provides a luscious sensory experience with its effortless formula to even remove waterproof makeup.

The refreshing and uplifting scent of lime, red grapefruit, jasmine, and geranium creates a fruity and nuanced aroma that will invigorate your senses. This luxurious blend not only nourishes your skin but also has a positive impact on your mood. The application process is simple. Massage a few drops onto dry skin in circular motions to dissolve impurities and makeup. Then rinse with water. Your mum will be left with soft, supple, and glowing skin that she’ll love. We have one to giveaway to our lucky prize winner!

LIquidSilk

Pure Shea Butter (180ml) from Aviela

Next up on our pamper list is the 100% pure, highest grade unrefined Shea butter. The perfect choice of gift to show our appreciation and love for the incredible mothers or women in our lives. Packed with essential fatty acids, vitamins A and E, with natural soothing properties, the Shea butter deeply hydrates and nourishes the skin. It quickly absorbs into the skin, leaving it supple and glowing while also creating a protective barrier to prevent moisture loss. This makes it an ideal addition to any skincare routine for all skin types.

The luxurious butter, suitable for use from hair to toe, offers exceptional hydration, outstanding nourishment, and remarkable skin-softening effects for all skin types. It’s particularly effective in combating dryness and soothing irritated skin. As part of our Mother’s Day giveaway, we’re excited to offer one lucky winner the chance to experience these benefits firsthand. Don’t miss out on your opportunity to win this sumptuous treat for your skin!

Shea butter

TIMELESS RENEWAL BIO-RETINOL BODY OIL (100ml) from Evolve Organic Beauty

Evolve Organic Beauty’s latest addition to the age-defying product line, this divinely scented firming body oil is a treat for all skin types, including dry ones. The blend of Retinol analogue Bidens Pilosa, Hyaluronic Acid, Organic Macadamia Oil, and Apricot oils work in harmony to nourish, firm, rejuvenate and smooth your skin while also improving its elasticity and locking in hydration for a youthful glow.

Infused with the organic essential oils of Rose Geranium, Ylang Ylang and Mandarin, the timeless renewal bio-retinol body oil not only pampers your skin but also delights your senses. This Mother’s Day, consider gifting this luxurious body oil to the most important woman in your life. It’s a thoughtful gift that shows you care about her well-being and is part of our Mother’s Day prize bundle. This product is more than just skincare. It’s a chance for her to indulge in a moment of self-care, making it the perfect gift for any occasion.

BioRetinol body oil

Paradise Luxury Gloss (Colour: Spell) from Doll Smash Cosmetics

Presenting the Paradise Luxury Gloss from Doll Smash Cosmetics. A luxe lip enhancer that promises brilliant shine, a smooth look, and a luscious feel. This high-quality gloss is designed to elevate your lips while diminishing any imperfections. Its unique formula is far from the sticky or tacky feel of traditional lip glosses. Instead offering a soft, creamy texture that leaves your lips feeling deliciously smooth. The immediate, radiant shine it delivers makes it an instant favourite.

As part of our prize bundle, this gloss makes an excellent gift for mums who appreciate a touch of luxury in their makeup routine. It’s more than just a gloss – it’s a ticket to a pampering experience that every mum deserves.

Paradise luxury gloss

£50 Amazon Voucher from Make Money Without A Job

Make Money Without A Job is donating a £50 Amazon Voucher to our lucky winner! Check out Make Money Without A Job if you’re looking for ways to earn extra money. Because Make Money Without A Job does exactly what it says. There are over 3,000 articles about making money from side hustles and starting your own business. Whether you want to make £100 a month or £5,000 a month there are ideas for everyone!

What’s more, there’s a free daily draw to win £10, and if it isn’t claimed, the prize rolls over. They’ve given away multiple prizes over £100 to lucky winners. Check out the draw at www.makemoneywithoutajob.com/draw

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 via Rafflecopter. Good luck!

a Rafflecopter giveaway

Terms and Conditions of the Giveaway

  • UK entries only.
  • The giveaway will run from 8 pm 3rd March 2024 to 8 pm 10th March 2024.
  • 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, X, 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.
  • Some or all of the prizes may take a few weeks to arrive.
  • 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 and other social media channels. It will also be displayed on the Rafflecopter entry form. 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 wonderful prize bundle!

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Get Your Will Written Free of Charge in March

Get Your Will Written Free of Charge in March

Did you know that March is Free Wills Month?

Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their wills written or updated free using participating solicitors across the UK. The next one begins on Friday March 1st 2024.

The charities involved include the NSPCC, Dogs Trust, Samaritans, Mind, The Stroke Association, PDSA, The National Trust, Mencap, Age UK, and many more.

The scheme covers simple wills only, including ‘mirror wills’ for couples. In the latter case, only one member of the couple has to be 55 or over. If you need a complicated will (most people don’t) you can still have this done but may have to pay a top-up fee.

I strongly believe in using a properly qualified solicitor to draw up your will. In the last few years there have been a couple of occasions when failing to do this has caused problems and delays for members of my family. An up-to-date will written by a solicitor will ensure that your wishes are respected and will avoid causing legal complications for your loved ones after you are gone.

Free Wills Month means what it says. There are no catches, although the organizers hope that you will choose to leave a donation to charity in your will. There is no obligation to do this, however.

To take part in Free Wills Month click through to the website on or after March 1st 2024. You can then pick a solicitor from the list of companies taking part and contact them to book an appointment. Appointments are limited and on a first come, first served basis, so it’s important to call as soon as possible. Once all available appointments are taken, the campaign will close. This may happen before the end of March.

  • Until March 1st you can enter brief details on the Free Wills Month website and will then receive an email reminder when the scheme opens.

If you have any comments or questions about this subject, as ever, please do post them below.

This is an annual update of this post.




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Building Your Own Home - Its Not Just for the Super-Rich!

Building Your Own Home – It’s Not Just for the Super-Rich!

Today I have a guest post for you on behalf of my friends at Suffolk Building Society

SBS are keen to demystify self-build and show it’s not just for wealthy people on Grand Designs!

As part of this, they recently commissioned research which highlights the misconceptions that still exist about self-build. The research was undertaken among 2,000 UK adults by Opinium on behalf of Suffolk Building Society. 

Read on to discover how self-build may be more accessible than you think…


 

According to research from Suffolk Building Society, over two-thirds (69%) of potential self-builders do not know that some mortgage lenders will allow them to borrow to purchase land where planning permission has been granted.

Correspondingly, concern over financing a project was the number one barrier for those interested in self-build: other concerns were around seeking planning permission and difficulties in finding suitable land.

The Society believes the lack of awareness about being able to borrow for land may discourage people from considering self-build. Many incorrectly believe they either need to be sufficiently cash-rich to fund the land themselves before applying for a self-build mortgage, or be gifted a plot from land-owning family members.

Suffolk Building Society is aiming to normalize self-build and, in doing so, wants more people to know that self-build is a viable option for those with modest budgets. Its recent research found that over half (54%) of those who are considering a self-build at some point in the future believe that self-build is still reserved only for the very wealthy.

Richard Norrington, Chief Executive at Suffolk Building Society said: “Self-build television series undoubtedly make for great viewing, but they do set the bar remarkably high. One could easily assume that self-build is only for those with unlimited time and deep pockets. 

“Self-build is considered a fairly standard route to home ownership in countries such as Hungary, France, and Sweden, and with better education and awareness, self-build could become more mainstream here in the UK too.”

Who Is Considering Self Build and Why?

The cost of living crisis has not significantly dampened people’s appetite for self-build: a third of people are still considering self-build, which is only a small decrease from 35% last time this survey was undertaken in July 2020.

The propensity to consider a self-build decreases with age: younger people in their 20s (60%) and 30s (56%) are significantly more interested than those in their 50s (16%) and 60s (7%), dispelling the myth that self-build is a project for retirement.

Of those considering self-build, 31% would prefer to go for a completely new build, 27% said they would opt for a knockdown/rebuild project, and 21% said they would undertake a major renovation to an existing property.

The main motivation cited by over a quarter (28%) was the ability to design the layout of their own home, but this is a significant drop from 51% in 2020. There was a broader range of reasons evident in this year’s research, including self-build being a more affordable way of creating an ideal home (15%) and having a home in the right location (12%). One in ten (9%) of those considering a self-build are doing so to create a home suitable for multiple generations under one roof.

Over four in five (83%) want to make eco-friendly decisions about their future property. However, of these, seven in ten would only prioritize this if it was within their budget. This is, of course, reflective of the current economic environment.

Self Build Register Awareness

The Self-build and Custom Housebuilding Act 2015 requires each relevant local authority to keep a register of individuals who are seeking to acquire serviced plots of land in the authority’s area for their self-build project.

Data published on 31 March 2023 showed a decline in individuals joining the Self Build Registers, which tallies with the research from Suffolk Building Society:

Only one in five potential self-builders (21%) are signed up to the Self Build Register and 41% of those considering self-build had not even heard of the Self Build Register. 

Richard Norrington said: “The National Custom and Self Build Association campaigned diligently for the Self Build Registers in a bid to facilitate a greater number of self-build homes. But so far, this has not been realized. The Registers need promoting alongside resources that help people understand all that a self-build entails as, despite the current economic uncertainty, there is clearly still an appetite for self-build.

“As a country, we need to normalize self-build, encouraging regular people to build good homes, thus helping to reduce the housing shortage in the process and improving the collective carbon footprint of our housing stock. 

“There are undoubtedly more hurdles in this process than in a standard house purchase – particularly at the moment with high labour and material costs. However, being able to design a property that meets your needs both in terms of function and aesthetics is hugely rewarding. We would like more people to know that some lenders are ready and willing to lend on land as well as for the build itself; and secondly, that self-build is more accessible than they might have previously thought.”


 

Many thanks to Suffolk Building Society for allowing me to reproduce their research – and comments about it – here.

If you would like more info about self-build mortgages from SBS, you can visit the relevant page of their website via this link. SBS say that although 80% of their members are in the east of England, the rest live across the UK.

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

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Secret Savings Accounts

Saving for a Rainy Day or a Stormy Breakup? The Surprising Facts About Secret Savings Accounts

A recent study conducted by Smart Money People reveals that one in ten people in a serious relationship, including marriage, civil partnerships, or cohabitation, maintain a secret savings account.

The research for the study was undertaken by Opinium on behalf of Smart Money People from 12 to 16 January 2024 among 2,000 UK adults aged 18 and over.

The SMP study highlights the prevalence of this practice among those in their 30s, with 30% acknowledging having such an account. Additionally, women are reported to be more likely than men to save secretly, indicating potential gender-related financial dynamics within relationships.

The reasons for maintaining a secret savings account vary, with the most common explanations being that individuals already had the account before entering the relationship (38%) or the desire to maintain financial independence (37%). However, a surprising 22% of respondents with a secret savings account admit to using it as an emergency break-up fund, anticipating potential costs associated with leaving a relationship, such as moving expenses or repurchasing shared assets like a car.

Interestingly, over half (51%) of those with a break-up fund also have a joint savings account with someone other than their partner, introducing an additional layer of complexity to the financial dynamics within relationships.

The study sheds light on the impact of financial matters on relationship stability, revealing that 18% of adults believe a lack of financial compatibility has contributed to a break-up in the past. The biggest savings-related causes of friction for those currently in a relationship are having different opinions on savings habits or when it’s okay to use savings (28%). This underscores the importance of aligning financial goals and strategies within a relationship.

Financial compatibility is considered crucial by 95% of couples living together, emphasizing the significance of shared financial values. Despite this, 10% of individuals still maintain secret savings accounts, illustrating a potential disparity between stated beliefs and actual financial behaviour.

The study indicates that half of people in relationships do not save the same amount of money as their partner, primarily due to unequal earnings (65%). An additional one-third attribute the difference in savings to disparate spending habits, with 40% of these individuals maintaining secret savings accounts.

In terms of relationship longevity, the research suggests that couples with joint savings accounts feel more financially compatible (90%) compared to those without. The data encourages open and honest discussions about money within relationships, emphasizing the importance of navigating financial decisions together.

Commenting on the findings, Jacqueline Dewey, CEO of Smart Money People, said, “Many people may already have methods of saving that work well for them prior to a new relationship, so although long-term partnerships bring about new joint financial goals, this shouldn’t negate any personal goals for each individual.

“Having different outlooks and opinions on savings isn’t necessarily a deal-breaker, but finding the most suitable ways to manage this is important.”

In summary, the SMP study highlights the complexities of financial dynamics within relationships, emphasizing the need for open communication, shared financial goals and mutual understanding, in order to maintain a healthy and long-lasting partnership.

Many thanks to my friends at Smart Money People for allowing me to share the results of their research. You can check out Smart Money People’s guide to the best savings accounts here.

If you have any comments or questions about this article, please do share them below as usual.

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AER

What is AER and Why is it Important to Savers and Investors?

I recently posted about the importance of compounding to investors. In the article I pointed out that compounding, when combined with the magic of compound interest, is a powerful tool for building wealth and long-term financial success.

Compounding involves earning interest on both your initial investment and the accumulated interest from previous periods. In other words, it’s the process of generating earnings from an asset’s reinvested earnings. The more frequently your money is compounded, the faster it grows. And the longer your money remains invested, the more significant the compounding effect becomes.

A reader asked me if the effect of compounding is equivalent to getting a higher annual interest rate. The answer to that is yes, if interest is compounded more than once a year. The more times per year interest is compounded, the higher the effective annual rate becomes. The official term for this is AER, or annual equivalent rate.

In this article I thought I would explain AER in a bit more detail, as it is a very important concept for savers and investors to grasp.

What is AER?

Annual Equivalent Rate (AER) is a standardized way of expressing the interest rate on savings or investment products over a one-year period. It allows investors to compare the potential returns on different financial products on a like-for-like basis. AER takes into account the effect of compounding, providing a more accurate representation of the overall return on an investment.

Why is AER Important?

AER is crucial for investors as it helps them make more informed decisions when comparing different savings and investment options. While nominal interest rates may seem attractive at first glance, they can be misleading. AER provides a more accurate reflection of the actual return on an investment by factoring in the compounding of interest over time.

Example

Let’s consider two savings accounts:

  1. Savings Account A offers a nominal interest rate of 7% per annum, compounded annually.
  2. Savings Account B offers a nominal interest rate of 7% per annum, compounded quarterly.

To compare these accounts accurately, we can use the AER formula:

AERformula

Where:

  • is the nominal interest rate (as a decimal)
  • is the number of compounding periods per year

For Account A:

For Account B:Capture B7

In this example, even though both accounts have the same nominal interest rate, Account B has a higher AER due to the more frequent compounding.

Let’s now add a third savings account, Account C, again with a nominal annual interest rate of 7% but this time compounded monthly. We can calculate the AER for Account C using the formula as before:

Formula C7

As you can see, the AER is higher again due to the increased frequency of compounding. If compounding was even more frequent (e.g. daily) the difference would be even more pronounced. In addition, the longer the period over which you invest, the greater the difference frequency of compounding will make.

While AER is often considered with regard to savings accounts, it also applies to investments. As I said in my earlier post, with a property crowdlending platform like Assetz Exchange [referral link] which pays monthly dividends (and has low minimum investments), you can keep reinvesting the income you receive to boost the returns you make.

Closing Thoughts

Understanding AER is crucial for UK savers and investors as it provides a standardized measure to compare the true potential returns of different financial products.

By taking into account the compounding effect, AER offers a more accurate picture of overall returns on investments. When evaluating savings or investment opportunities, always look beyond nominal interest rates and consider the AER to make informed decisions that align with your financial goals. And take any opportunity that arises to reinvest your returns to harness the power of compounding to grow your wealth faster.

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

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.

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Investments Update February 2024

My Investments Update – February 2024

Here is my latest monthly update about my investments. You can read my January 2024 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).

As the screenshot below for the last 12 months shows, my main Nutmeg portfolio is currently valued at £22,386. Last month it stood at £22,292 so that is a modest increase of £94.

Nutmeg main port Feb 2024

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,530 compared with £3,501 a month ago, a rise of £29. Here is a screen capture showing performance over the last 12 months.

Nutmeg Smart Alpha Feb 24

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). As you can see from the screen capture below, after a storming start in December this fell back in January before recovering again to £519, a small drop of £4 or 0.76% month on month. It is still around 4% ahead since I invested at the start of December, though.

Nutmeg thematic port Feb 2024

January was obviously a mixed month for my Nutmeg investments. Overall I was still £119 up, though. If you add this to the increase of £1,160  last month, that gives a total value increase over the last two months of £1,279 or 5.17%. In these turbulent times I am more than happy with that.

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), Lifetime ISAs 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. Last month I withdrew £350 from completed projects to help pay for a much-needed holiday in the spring. I currently have around £1,570 invested with them in 10 different projects paying interest rates averaging around 7%. I also have £14 in my Kuflink cash account.

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.

There is now an initial minimum investment of £1,000 and a minimum investment per project of £500. Kuflink say they are doing this to streamline their operation and minimize costs. I can understand that, though it does mean that the option to test the water with a small first investment has been removed. It also makes it harder for small investors (like myself) to build a well-diversified portfolio on a limited budget.

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. Interest rates normally range from around 7% for one year to 9.83% gross for a three-year term.

  • As a special Valentine’s Day promotion, however, until 14 February 2024 they are offering enhanced rates of 9% for one year, 10.5% for two years and 12.25% gross for a three-year term. These figures are AER (annual equivalent rates) that incorporate reinvestment of interest paid at the end of each year. These are actually the highest rates I have ever seen Kuflink offering ❤

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 £161.85 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, 3 are breaking even, and the remaining 19 are showing losses. My portfolio is currently showing a net decrease in value of £40.87, meaning that overall (rental income minus capital value decrease) I am up by £120.98. 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.

The overall fall in capital value of my AE investments is obviously a little 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’ve reinvested 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 (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.

  • As I noted in this recent post, Assetz Exchange is particularly good if you want to compound your returns by reinvesting rental income. This effectively boosts the interest rate you are receiving. Personally, once I have accrued a minimum of £10 in rental payments, I reinvest this money in either a new AE project or one I have already invested in (thus increasing my holding). Over time, even if I don’t invest any more capital, this will ensure my investment with AE grows at an accelerating rate.

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 captures below, my original investment totalling $1,022.26 is today worth $1,209.37, an overall increase of $187.11 or 18.30%.

eToro Feb 24

eToro port 24

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 with them.

  • 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 January on the excellent Mouthy Money website. The first is How to Save Money on Your Water Bills. In Britain we’re lucky to have high-quality running water on tap whenever we need it. Like everything else in life it costs money, however. And in these times of rising prices and squeezed incomes, those costs can be a growing burden. So in this article I set out some ways you may be able to reduce your water bills.

Also in January Mouthy Money published How to Make Money With Classic Cars. In this article – written in association with my friends at the Car & Classic website – I described the surprising number of attractions to investing in classic cars, and provided a range of tips for those new to the field.

My final article published on Mouthy Money last month was Top Tips to Avoid Online Scams. This article set out my top ten tips for staying safe online and avoiding becoming a victim of the scammers. Do check it out!

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 am also a fan of my fellow MM contributor and money blogger Shoestring Jane. She writes mainly about money saving and frugal living. Her  latest article How to Get Almost Everything More Cheaply has some great tips and ideas. You can see all of her articles for Mouthy Money via this web page.

I also published several posts on Pounds and Sense in January. I won’t bother mentioning those that are no longer relevant now, but the others are listed below.

In How to Start Copy Trading With eToro I discussed how to get started using the popular copy trading facility on eToro. This allows you to automatically copy successful traders on the platform – so when they make money, you make money too. As mentioned above, I have done this myself following Dutch professional investor Mike Moest and am currently around 23% in profit. You can read more in my post about copy trading on eToro and my experiences with it.

I also published HMRC Crackdown on Side Hustles – Truth and Fiction. As you may know, from January this year digital platforms like eBay, Etsy and Airbnb are required to collect additional information from sellers, including numbers of sales and amount of income generated. This data will be automatically shared with HMRC, who will compare it against their records to see if any tax may be due. This news has caused some consternation on social media, with many who have side hustles to help pay the bills worried they may be hit by an unexpected tax demand. In this post I explain what exactly is happening and set out to separate the truth from the fiction.

In Planning a UK Holiday This Year? Here Are Some Ideas For You! I set out a list of destinations in the UK I have visited myself, with links to my full reviews of the places concerned. They range from Bath to Barmouth, Lavenham to Llanbedrog. If you’re looking for ideas for a short break (or longer) in the UK this year, this could be a good source of inspiration for you 🙂

One Key Lesson About Investing I Learned From My Dad’s Big Mistake reveals an important lesson I learned from my late father about investing. It is a lesson I have tried to apply in all my investing myself. While it hasn’t stopped me making some mistakes along the way, it has certainly helped me avoid any disastrous losses. This article was first published in a slightly different form on Mouthy Money.

Finally in January I published How to Harness the Power of Compounding. In this article I discussed the power of compounding and compound interest. This is a wealth-building secret every saver and investor should embrace. I also revealed two particular types of investment where you can apply compounding to help boost your returns.

On other things, the opportunity to get a free share worth up to £100 with Trading 212 has now closed. However, you can can also still Get a Free ETF Share Worth up to £200 with Wealthyhood. This DIY wealth-building app is aimed especially at people new to stock market investing. The minimum investment to qualify for the free share offer is £50 – but on the plus side, they now guarantee your free ETF share will be worth at least £10.

I am still using and getting good results from the cashback app JamDoughnut. You can see my review of JamDoughnut here, along with a referral code that will get you a £2 bonus when you sign up. To be honest I’m surprised more PAS readers haven’t taken advantage of this opportunity. Not only can you get discounts of up to 20% using the app, they also hold regular contests and promotions offering additional bonuses and discounts.

Finally, a quick reminder that you can also follow Pounds and Sense on Facebook or Twitter/X. 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!

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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