October 19, 2021

Ten Tips for Saving Money on Your Supermarket Shopping

Nick Saving Money food, families 4 Comments

Many of us today do most of our shopping in supermarkets. Although of course it’s important to support local/specialist shops, supermarkets typically offer a much wider range of products at prices small stores find hard to match.

But there are still lots of ways savvy shoppers can save money on their supermarket shopping. Here are ten top tips to shave a few pounds (or more) off your shopping bills…

Table of Contents

Make the Most of Loyalty Cards

All the big name supermarkets have these, though some (e.g. Morrisons) are switching from plastic to app-based cards. The benefits on offer vary, but typically you get points which can be exchanged for discounts and gifts. I shop mainly at Morrisons and Waitrose, as they have branches closest to me.

With Morrisons, their (now virtual) More card gives you special offers based on things you normally buy anyway. I have had some great discounts on my groceries with these offers, but you do of course need to remember to ‘swipe’ the app barcode at the checkout.

I also have a myWaitrose card. With this you can get a free newspaper with your shopping (subject to a £10 minimum spend). You can also get a free hot drink. You get vouchers sent in the post as well, such as the ones pictured below. It surprises me a bit when someone in the queue in front of me says they don’t have a myWaitrose card, but perhaps if they shop regularly at Waitrose they don’t have to worry too much about saving money 😉

Shop Late in the Day

Late in the day – ideally the hour before the store closes – is the best time to look for bargains. The shops will have stock they want to get rid of, probably because it is coming up to its ‘best before’ date. These items will often be marked down substantially, as the stores want to get at least some money for them rather than have to throw them away. Bear in mind that you can always freeze many foods if you can’t use them immediately – and in any event ‘best before’ dates aren’t set in stone.

Use Cashback Sites

I’ve talked about cashback sites like Quidco and Top Cashback on this blog before (e.g. in this post). If you shop online, you can get money back by clicking through to the retailer from the link on the cashback site. The most generous offers are generally reserved for new customers, e.g. on Top Cashback right now new Sainsbury’s online customers can get 16.5% cashback on Click and Collect orders of over £40. But even existing customers can get 5.5% cashback on Click and Collect orders of over £40 (all details correct at time of writing).

Plan Your Meals Ahead

We all lead busy lives these days. But it’s still good to devote some time to planning ahead where meals are concerned. Try to incorporate things you have in stock already, especially perishables which may not last more than a day or two. And rather than buying unusual/expensive ingredients for one dish only, see if you can find other recipes to use them up.

Batch cooking, where you make enough of a dish to last two days or more, is another great way to cut the cost of shopping. Of course, most dishes can be frozen if you can’t face having curry three days in a row!

Shop Online

Aside from the convenience of having goods delivered to your door, a big advantage of online shopping is that you will be less likely to succumb to impulse buys. Just make a list of what you need, visit the website, and add the items on your shopping list to your basket.

Admittedly you may have to pay a delivery fee, but many supermarkets now offer this free for new customers or for orders above a certain value. There are also in many cases ‘free delivery’ codes online if you search for them. And don’t forget to use cashback sites where possible as well (see above).

Search for Money Off Coupons and Vouchers

This is an old school method but it can still produce big savings. Look out for money-off vouchers in newspapers, magazines and the stores themselves. You can also search online if there are particular products you want to buy. This method can work particularly well with larger items such as dishwashers and tumble dryers [sponsored link], but it’s also worth searching for money-off vouchers for smaller/cheaper items, especially if they are things you buy regularly.

Try Own-Brand Products

All supermarkets have their own-brand products, and usually they cost less than heavily promoted consumer brands.

Many stores also have rock-bottom priced ‘Saver’ ranges. Sometimes these are not as good as more expensive branded or own-brand products. Other times, though, they are indistinguishable. For example, I now always buy Morrisons’ lowest-priced butter from their Savers range. I find it tastes just as good as the more expensive alternatives.

Use Discount Supermarkets and Stores

It’s easy to get in the habit of a weekly trip to Tesco or Sainsbury’s, but if you haven’t yet done so it’s well worth trying out discount supermarkets such as Iceland, Aldi and Lidl. They aren’t always the most attractive places to shop, but they make up for this with some amazingly low prices. Admittedly you won’t always recognize the brand names, but that doesn’t mean they aren’t high quality. Staples like bread, fruit and vegetables are often cheaper as well.

Iceland have a long-running special discount offer for over-60s. You can read more about it here.

Make Money From Your Receipts

There are various apps and companies that will reward you for scanning and submitting your shopping receipts to them. One I’ve belonged to for some years now is ShopandScan. You can read more about this opportunity here.

ShopandScan pays in vouchers rather than cash, but the options include Amazon vouchers, which are of course nearly as good. I have received several thousand pounds worth of vouchers from ShopandScan since I started with them. As I say in my review, acceptance isn’t automatic, but if you apply there is every chance you will be sent an invitation within a few weeks.

Grow Your Own Food!

You can save significant sums of money by doing this. This summer I didn’t buy any tomatoes from July till mid-October, as I was eating ones I had grown myself. I highly recommend tomatoes, incidentally, not least as they are easy to grow in the garden, in a tub or hanging basket, or even on your window sill. They taste a lot better than most shop-bought varieties as well!

There are, of course, plenty of other things you can grow to save money, even if space is at a premium. Fresh herbs are one possibility, as are many types of berry (strawberries grow like weeds in my garden). I’ve also had some success with runner beans, courgettes and garlic, and salad vegetables such as chard, radishes and spring onions.

This year I also grew a pot of cut-and-come-again lettuce and was amazed by how much I got from this. It’s perfect for people who live alone like me, as you can just pick a few leaves when you want them, rather than buy a bag of salad leaves and have most of them go to waste.

I hope you’ve enjoyed this post and it has given you a few ideas for saving money on your supermarket shopping. If you have any other tips or comments, please do post them below!

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October 5, 2021

My Investments Update – October 2021

Nick Investing, Everything Else events, travel 4 Comments

As regular readers will know, I recently started posting monthly updates about my investments. These (partly) replace the ‘Coronavirus Crisis Updates’ I was posting from March 2020. You can read my September 2021 Investments Update here if you like

I’ll begin as usual with my Nutmeg Stocks and Shares ISA, as I know many of you like to hear what is happening with this.

As the screenshot below shows, my main portfolio is currently valued at £21,046. Last month it stood at £21,690, so that is a fall of £644. That is obviously disappointing, but as the value rose by £675 the previous month, I am not going to lose any sleep over it. Most equity-based investments had a rocky ride in September, with my BestInvest SIPP also taking a hit. Stock market investments in general should be regarded as medium- to long-term, and you have to expect some ups and downs in the short term.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s new Smart Alpha option. This pot also fell in value in September. It is now worth £2,633 compared with £2,710 last month. That’s a fall of £77, though again the value is still higher than it was two months ago. Here is a screen capture showing performance in September 2021.

As I said above, September was a disappointing month for stock market investors generally, and Nutmeg is far from alone in seeing falls. I make no claim to being an expert on the markets, but from what I read this has resulted from various developments that have worried investors, including the withdrawal of fiscal stimulus packages as we come out of the pandemic and a rise in the inflation rate.

The drop in September is still nothing like what happened in March 2020 – at the start of the pandemic – when the value of my Nutmeg portfolio fell by a third in just a few weeks. On that (admittedly worrying) occasion, the value of my investments swiftly bounced back and turned into a good overall profit for the year. I remain optimistic that something similar will happen again as the UK and world economies get back on a more even keel.

So, especially if you are a new investor, I would strongly advise you not to panic. Remember that if you sell up you are simply crystallizing any losses rather than giving the markets a chance to recover. Personally I am considering investing more in my Nutmeg account now while valuations are down. Obviously I am not offering that as financial advice, just sharing my own thoughts and plans at this time.

Anyway, you can read my full Nutmeg review here (including a special offer at the end for PAS readers). If you are still looking for a home for your 2021/22 ISA allowance, based on my experience they are certainly worth considering. If you haven’t yet seen it, check out also my recent blog post in which I looked at the performance of Nutmeg fully managed portfolios at every risk level from 1 to 10 (my main port is level 9). I was actually pretty amazed by the difference the risk level you choose makes.

As regular readers will know, this year I am using Assetz Exchange for my IFISA. This is a P2P property investment platform that focuses on lower-risk properties (e.g. sheltered housing on long leases). I put £100 into this in mid-February and another £400 in April. Touch wood, everything has been going well, so in June I added another £500, bringing my total investment on the platform up to £1,000.

Since I opened my account, my portfolio has generated £20.79 in revenue from rental and £87.14 in capital growth, for a total return of £107.93. Here is my current statement:

As I have noted before, Assetz Exchange has had a big influx of new members, meaning all available investments were quickly snapped up. At the same time, some of the new projects that were due to launch were delayed. Only a small number of new projects went live on the platform in the last month, so I haven’t added any more to my portfolio.

To control risk with all my property crowdfunding investments nowadays, I am investing relatively modest amounts in individual projects. I don’t therefore put more than around £100 into any one project. As you can see, I have a well-diversified portfolio with Assetz Exchange comprising 21 different projects. This is a particular attraction of AE in my view. 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 if you like. You can also sign up for an account on Assetz Exchange directly via this link [affiliate].

Another property platform I have some investments with is Kuflink. They appear to have been doing well recently, with new projects launching almost every day. I currently have just over £2,000 invested with them, quite a large proportion of which comes from reinvested profits. To date I have never lost any money with Kuflink, though some loan terms have been extended once or twice. On the plus side, where 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. As mentioned above, these days I invest no more than around £100 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 (such as this one). 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

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 now build your own IFISA, with most loans on the platform being IFISA-eligible.

I’d also particularly draw your attention to their revised and more generous cashback offer for new investors. They are now paying cashback on new investments from as little as £500 (it used to be £1,000). And if you are looking to invest larger amounts, you can earn up to a maximum of £4,000 in cashback. That is one of the best cashback offers I have seen anywhere (though admittedly you will need to invest £100,000 or more to receive that!).

Moving on, I have another article on the always-excellent Mouthy Money website. This was for their Meet the Blogger feature. They asked me a number of thought-provoking questions, including what personal finance tip I would give a younger version of myself and what I would do if I was made Chancellor for the day! You can read my answers here.

Finally, it’s not investment-related, but I did just want to mention an act of kindness that saved me several hundred pounds last month, and a lot of anxiety too 🙂

I drove up to Yorkshire for a family reunion with my sisters Liz and Annie (and Liz’s family, who live there). I went just before the fuel crisis broke, and found myself marooned when all the local petrol stations closed after running out of fuel.

I was staying at Hewenden MIll Cottages near Bingley (the cover image shows the bungalow I booked this time). When I explained my predicament to the owners, they immediately said I could stay as long as I liked free of charge until the situation improved. I don’t mind admitting I was almost reduced to tears by the unexpected kindness. I ended up staying for three extra days – double the length of time I originally booked (and paid for).

So I wanted to take this opportunity to publicly thank Janet and Susan and family for their kindness, and give Hewenden Mill Cottages another plug. As some of you may remember, I last went there two years ago and was bowled over by the quality of the accommodation and the stunning location (see sample photo below).

You can read my original review of Hewenden Mill Cottages here. It is the best self-catering accommodation I have ever stayed in, and I am obviously even more impressed now. If you want a short break (or longer) in beautiful Bronte Country, I very much doubt you will find anywhere better. They also host some retreats and residential courses.

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

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September 14, 2021

What Are the Benefits of Opening a Junior ISA for Your Child?

Nick Saving Money, Investing sponsored post, families 4 Comments

Updated 21 May 2024

Today I’m looking at a savings product that will be relevant mainly to the parents among you

A Junior ISA (sometimes abbreviated to JISA) is a savings product aimed at under-18s (and more specifically at their parents/guardians). These accounts allow money to be stashed away tax-free for a child until their 18th birthday. After this the money becomes the child’s to do with as they wish. The JISA account turns into an ordinary ISA at this time, thus retaining its tax-free status.

Table of Contents

What Types of JISA are There?

There are two types of JISA: the Cash JISA and the Stocks and Shares JISA.

A Cash JISA is basically just a tax-free savings account. Interest is normally paid annually. According to the MoneySavingExpert website, the best-paying Cash JISA provider at the time of writing is Coventry Building Society, who are paying 4.95%. However, this is only available if you open an account in a branch or by post. If you want to open an account online, the best paying Cash JISA currently comes from Tesco Bank or NS&I, both paying 4%.

With a Stocks and Shares JISA, as the name indicates, the money is invested in the stock market. This offers the potential for greater returns, but with a higher degree of risk in the short term especially. I will say more about Stocks and Shares JISAs below.

As with adult ISAs, there is an annual limit to how much you can put into a Junior ISA. In the current (2024/25) tax year this is £9,000. You can put all of this into a Cash JISA or a Stocks and Shares JISA, or divide it between the two. You can switch providers as often as you like, but can only hold one of each type of JISA at any time.

Only a child’s parent or guardian can open a Junior ISA for them, but others including grandparents, friends, other relatives and the child him/herself can contribute. But it is important to be aware that (barring exceptional circumstances) all the money and interest in the account will be locked away until the child’s 18th birthday.

Which JISA is Best?

You won’t be surprised to hear that there is no simple answer to this.

If you want to avoid any risk of losing money, a Cash JISA is the way to go. Under the Financial Services Compensation Scheme (FSCS) the money will be completely safe so long as it’s invested with a UK-regulated provider and you have no more than £85,000 with that institution. Every year a known amount of interest will be added. The only risk you are taking is that the money won’t grow at the same rate as inflation.

On the other hand, if you are investing for at least a five-year period, there is certainly a case for putting at least some money into a Stocks and Shares JISA – and if it will be for ten years or more, the case becomes even more compelling. Over a five-year period stocks have outperformed cash in the great majority of such periods, and in almost all periods of ten years and over.

So if you are opening a JISA for a young child or infant, where the money may be invested for up to 18 years before it can be accessed, a Stocks and Shares ISA is very likely (though not guaranteed) to produce better returns than a Cash JISA. Of course, there is nothing to stop you hedging your bets and putting some money into one of each type.

What About Child Trust Funds?

Any child under the age of 18 born before January 2011 would have had a Child Trust Fund (CTF) opened for them by the government.

The government gave every child born between 1 September 2002 and 2 January 2011 a £250 voucher (£500 in the case of some low-income households). Parents could top up their child’s CTF themselves if they wished. The scheme ended in 2011 when CTFs were replaced by Junior ISAs. Unfortunately the government does not make a contribution towards these!

As with Junior ISAs, the money in a CTF could be placed in a Cash CTF or one where the money was invested in stocks and shares. Although new CTFs are no longer issued, there are many young people who still have one and will be able to access it on their 18th birthday. The first CTFs matured in September 2020, when the oldest account-holders turned 18. The last will mature in 2029. On maturity, a CTF can either be cashed in or transferred into an adult ISA.

Unfortunately the interest rates currently paid on Cash CTFs are generally very low indeed. So if your child has one, there may be a case for transferring it to a better-paying Junior ISA. Most JISA providers allow transfers from CTFs (or other JISAs), and it is certainly worth looking into this if your child has a low-interest-paying Cash CTF.

The Nutmeg Junior ISA

Regular readers of Pounds and Sense will know that I am a fan of of the Nutmeg investment platform and have a fairly large amount in an account with them. My money is invested in the form of a Stocks and Shares ISA. You can read more about this if you wish in my Nutmeg review or one of my regular investment updates such as this one.

Nutmeg do not offer a Cash JISA but they do offer a Stocks and Shares JISA. So if you are thinking of opening one of these for your child (maybe in addition to a Cash JISA) in my view they are well worth checking out.

With the Nutmeg Stocks and Shares JISA you have the same range of investment options as their adult ISA. These are discussed in detail in my Nutmeg review, but in brief they include Fully Managed, Smart Alpha, Socially Responsible and Fixed Allocation. My own investments are in the Fully Managed and Smart Alpha categories, and I am very happy with how both have been performing. But you should, of course, check the terms and conditions (and charges) carefully when deciding which is right for you.

Note that, unlike an adult ISA, in a Nutmeg JISA you cannot have different ‘pots’ within the same JISA wrapper. So you will need to pick your preferred option from one of the four mentioned, though you can change this any time later if you wish. You can also set a risk level between 1 and 10 and again you can change this at any time. You can read my recent blog post about Nutmeg risk levels here. My general advice, though, is that if you’re investing over a period of at least five years, it may pay not to be too cautious. In addition, if you choose to invest in a Nutmeg Junior ISA via my refer-a-friend link, you can get six months free of any charges.

Of course, Nutmeg are not the only providers of Junior ISAs. Some other possible options include Hargreaves Lansdown and BestInvest.

Closing Thoughts

If you are a parent or guardian, opening a Junior ISA is one of the best gifts you can give your child (or children).

The money will grow tax-free and can’t be touched until they are 18, when they can withdraw it or keep it as an ISA. It may provide a much-needed lump sum at a time when they are setting out in the world and really appreciate a financial leg-up. A JISA will also give them an early introduction to saving and investing, and form a valuable part of their financial education.

The main selling point of JISAs is, of course, their tax-free status. Admittedly this is not as big a deal with Cash JISAs as it used to be, as nowadays almost everyone has a tax-free Personal Savings Allowance of up to £1,000 and other tax-free allowances as well. As a result, interest on savings is usually paid without any deductions. So there may be no immediate tax advantage to investing in a Cash JISA if a non-JISA savings account pays better interest.

In the case of a Stocks and Shares JISA the tax-free status may be more significant, as it also gives exemption from dividend tax and capital gains tax (CGT) both of which have had their tax-free allowances slashed by the government.

Either way, though, money saved in a JISA will carry on growing tax-free forever (until it’s withdrawn) – so even if there is no immediate tax advantage, there may well be in years to come. This applies to an even greater extent if the young person stays invested on reaching maturity rather than immediately withdrawing all their money.

According to the This is Money website more parents open Cash JISAs than Stocks and Shares JISAs. As a money blogger, however, I would definitely think about opening a Stocks and Shares ISA for at least part of your child’s JISA allowance. That applies especially if it is more than ten years till their 18th birthday. As mentioned above, over almost any given ten-year period, stocks and shares have outperformed cash. And the longer timescale allows the inevitable ups and downs in the stock markets to even out. If you put all the money into a Cash JISA, by contrast, it is quite likely that the value of your child’s account will not keep up with inflation.

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

Disclaimer: I am not a registered financial adviser and nothing in this post should be construed as personal financial advice. Everyone’s circumstances are different and what is right for one person may not be appropriate for another. It is essential to do your own ‘due diligence’ before investing and seek help from a qualified financial services professional if in any doubt how best to proceed. All investing carries a risk of loss.

This post includes affiliate links. If you click through and make a purchase (or perform some other defined action) I may receive a fee for introducing you. This will not affect in any way the product or service you receive.

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September 8, 2021

Top 10 Personal Finance Podcasts (Infographic)

Nick Making Money, Saving Money, Investing reviews, infographic 4 Comments

Today I am sharing some information about personal finance podcasts. This is not a subject I previously knew very much about, so I am grateful to my friends at All Finance Tax for supplying the excellent infographic and some of the other info below.

What is a Podcast?

A podcast is like a series of radio programmes on a particular theme or topic, from politics to cycling. You can subscribe for free using a suitable app on your smartphone (or other internet-enabled device). You can then listen whenever and wherever you like, via headphones, earphones, through speakers, in the car, on the train, and so on.

Podcasts are a booming medium and one of the major trends of the last five years. There are now podcast shows on nearly every topic you can think of. And with the rise of both independent and conglomerate podcast production studios, it seems likely this new medium will be in our lives for many years to come.

In the same way people were once passionate about certain radio shows, podcasts have the same dedicated followings, thanks to hosts who become familiar audio friends. Some even run live events. As a medium, podcasts are incredibly accessible, with few barriers beyond an internet connection and a smartphone or other device that can stream audio. No matter where you are or what you’re doing, podcasts offer content that educates, inspires and entertains. If you have never listened to a podcast before, the BBC Sounds podcasts page is one good place to start.

How to Listen to a Podcast

The easiest way to find and listen to podcasts is by using an app on your smartphone.

If you have an iPhone, it will have a built-in app called Apple Podcasts. This works very well and allows you to search for and subscribe to any of a huge range of podcasts. All you have to do then is open the app any time you want to listen and choose the episode you require.

Android owners can use the free Google Podcasts app. You can download this from the Google Play Store if you don’t have it already. It is not as user-friendly as the Apple app and doesn’t have as many features, but will certainly get you started. There are also other free or inexpensive apps you can download from Google Play such as the highly-rated Pocket Casts or Castbox.FM.

Finance Podcasts

One genre with a surprisingly large, dedicated listenership is finance. While to some that might sound a dry, unpromising subject, the podcast medium has enabled content to be reinvented with an unexpected, creative approach.

With hosts ranging from seasoned finance professionals to novice FIRE (financial independence) enthusiasts, podcasts allow people who would never previously have been interested in finance – or perhaps even have been intimidated by the topic – to access valuable information presented in an engaging, inclusive way.

All Finance Tax rounds up the top finance podcasts in the infographic guide below. Find out about the must-listen shows, including podcasts about:

Entrepreneurship
Billionaire case studies
Female-led finance
Personal and couples’ finance
Start-ups
And more!

With snapshots of real reviews plus the best episodes to start with, this resource will help you find the right show for your personal interests and needs regardless of your outlook on finance. Read on for the full list of finance podcasts to start your listening journey!

Many thanks again to my friends at All Finance Tax for their help with this article. I have listed below all the podcasts recommended in the infographic, with links to their homepages (or another website) where you can find out more. You can also listen to the podcasts on the web via these pages, though using an app on your smartphone (as discussed earlier) may be more convenient generally.

Couple Money Podcast

Money for the Rest of Us

So Money with Farnoosh

The Investor’s Podcast

The Creative Rebels (Podchaser page)

Planet Money

One more I would add is the Ask Martin Lewis podcast from BBC Radio Five Live. Martin is, of course, a well-known personal finance guru (and founder of the hugely popular MoneySavingExpert website). Although I can take or leave his TV shows, his podcasts are less gimmicky and include valuable, accessible advice on all aspects of personal finance (not including investing).

As always, if you have any comments or questions about this post, please do leave them below. I’d also love to hear about any personal finance podcasts not mentioned above which you enjoy and recommend!

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September 3, 2021

My Investments Update – September 2021

Nick Saving Money, Investing 4 Comments

Regular readers will know I’ve been posting ‘Coronavirus Crisis’ Updates since March 2020. These covered my investments and also more personal matters. You can read my August 2021 update here if you like

As I said in that update, since Freedom Day in England has now happened, with the scrapping of most restrictions, it no longer seems appropriate to go on publishing Coronavirus Crisis updates (though the virus hasn’t gone away, I know). So I shall now be publishing monthly investment-only updates, with more personal updates as and when seems appropriate.

Let’s get straight on then. I’ll begin as usual with my Nutmeg stocks and shares ISA, as I know many of you like to hear what is happening with this.

As the screenshot below shows, my main portfolio performed well in August. It is currently valued at £21,690. Last month it stood at £21,015, so that is a rise of £675 (Nutmeg is now showing values including pence as well, but for simplicity I am not including this).

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s new Smart Alpha option. This pot also did well in August. It is now worth £2,710, compared with £2,625 last month. That’s an increase of £85 or just over 3%. Here is a screen capture showing performance in August 2021.

You can read my full Nutmeg review here (including a special offer at the end for PAS readers). If you are still looking for a home for your 2021/22 ISA allowance, based on my experience they are certainly worth considering. If you haven’t yet seen it, check out also my recent blog post in which I looked at the performance of Nutmeg fully managed portfolios at every risk level from 1 to 10 (my main port is level 9). I was actually amazed by the difference the risk level you choose makes.

You might also like to know that during September 2021 Nutmeg is running a special promotion on Junior ISAs (JISAS). If you open one of these for a child with Nutmeg (or transfer an existing Child Trust Fund) you will automatically be entered into a free prize draw to win £9,000 (this tax year’s full JISA allowance). For more information click on this link. I am also planning to write a blog post about this soon.

Since I opened my account, my portfolio has generated £15.65 in revenue from rental and £47.65 in capital growth, for a total return of £63.30. Here is my current statement:

To a degree Assetz Exchange has been a victim of its own success. They had a big influx of new members, meaning all available investments were quickly snapped up. At the same time, some of the new projects that were due to launch were delayed. In the last month, however, a small number of new projects went live on the platform, so I am pleased to say my £1,000 (and a bit more from dividends received) is now fully invested.

To control risk with all my property crowdfunding investments nowadays, I am investing relatively modest amounts in individual projects. I don’t therefore put more than around £100 into any one project. As you can see, I already have a well-diversified portfolio with Assetz Exchange comprising 21 different projects. This is a particular attraction of AE in my view. You can actually invest from as little as 80p per property if you really want to proceed cautiously.

Another property platform I have some investments with is Kuflink. They appear to have been doing well recently, with new projects launching almost every day on the platform.

I have a well-diversified portfolio of loans with Kuflink paying annual interest rates of 6 to 7.5 percent. As mentioned above, these days I invest no more than around £100 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 (such as this one). My days of putting four-figure sums into any single property investment are definitely behind me now!

You can read my full Kuflink review here. They recently passed the milestone of £100 million loaned, and say that since their launch no investor has lost money with them. They offer a variety of investment options, including a tax-free IFISA paying up to 7% interest per year, with built-in automatic diversification. And I’d particularly draw your attention to their revised and more generous cashback offer for new investors. They are now paying cashback on new investments from as little as £500 (it used to be £1,000). And if you are looking to invest larger amounts, you can earn up to a maximum of £4,000 in cashback. That is one of the best cashback offers I have seen anywhere (though admittedly you will need to invest £100,000 or more to receive that!).

In August two more PAS readers signed up with the low-key sideline-earning opportunity mentioned in previous updates. They will have received their initial £100 reward payments about now. I still have a few more invitations available if anyone else would like to take advantage.

This opportunity is based on matched betting, a sideline I have been pursuing for several years myself. I was asked not to divulge too many details about it publicly, for good reasons I will explain privately to anyone who may be interested (and no, it’s not illegal!). It doesn’t require any financial outlay and is risk-free and entirely hands-off (once you have set up your account). No knowledge of betting is required and you don’t have to place any bets yourself (this is all done by the company’s clever software). You just have to set up a separate bank account for bets to go through, but running the account is entirely financed by the company.

The company has changed its terms somewhat for new members. You now get a larger £!00 initial reward payment once your account is up and running, and then £25 every month you remain a member. I think this is a good move personally, as setting up the account does involve a little work on your part (though it’s certainly not like going down the mines). So the £100 in effect compensates you for your time, and once it’s done you continue to get £25 a month for no effort at all. The company is constantly developing its offering, partly in response to feedback from PAS readers. They recently launched a new mobile-friendly website to make it even easier for new members to sign up (once you’re up and running you shouldn’t need to use the website at all). They also recently incorporated an Open Banking app so that members don’t have to provide their online banking info to the company, as some people were concerned about this.

Please note that this opportunity is only open to honest, trustworthy people who haven’t done matched betting before and have no more than two accounts already with online bookmakers. For more information (and to receive a no-obligation invitation) drop me a line including your email address via my Contact Me page. And yes, I will receive a reward for introducing you, but this will not affect the service or the rewards you receive.

In the interests of full transparency, I should say that if you do matched betting yourself, you may be able to make more money than what is being offered by the company. However, you will have to research the techniques in detail, place all bets yourself, and probably subscribe to a matched betting advisory service such as Profit Accumulator [affiliate link]. This opportunity is really for those who want an easy way to make some extra money without the hassle (or expense) of learning/applying matched-betting methods themselves.

Finally, I have a couple more articles on the always-excellent Mouthy Money website if you’d like to check them out. One is titled How Much Do You Really Need to Retire Comfortably? And the other sets out The Best Discounts and Freebies for Older People. I particularly enjoyed researching that one!

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

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August 31, 2021

Four Ways Mobile Tyre Fitting Can Make You Savvy

Nick Everything Else travel, sponsored post 4 Comments

Today I have a sponsored guest post for you on behalf of Fife Autocentre. The post sets out four advantages to using a mobile tyre-fitting service for tyre replacements and repairs.

Taking good care of your tyres is crucial to maintaining your car’s longevity and performance while keeping you safe. The best way to do this is to engage mobile tyre-fitters to get your tyres repaired, fixed or fitted.

Cost-effective
Why waste time and money trying to get to a garage for tyre replacements and repairs? Mobile tyre-fitting provides an ideal, cost-effective solution. An expert fitter will attend at your preferred location and provide a professional service when conducting repairs and replacements. You will therefore avoid the expense (and risk) involved if you do the job incorrectly yourself. For mobile tyre-fitting, check with the experts at Fife Autocentre.
Increased safety
Why risk damaging your tyres even more when you can be served by a mobile tyre-fitting service at your home or workplace? Attempting to take your car to a garage on damaged tyres is extremely dangerous, as you may end up broken down in the middle of nowhere or even having an accident. A mobile tyre fitting service will immediately respond and act accordingly.
Supremely convenient
Why stress to get tyre problems fixed if you can be reached and attended to at your convenience? Mobile tyre fitters will serve you without disrupting your day’s activities. Just call for help, then carry on with your day as normal.
Instant emergency service
Getting stranded due to tyre problems is a driver’s worst nightmare. So reaching out to a mobile tyre-fitting service is the best solution. Simply contact them and they’ll send someone directly to your location to offer the most effective solution wherever you may be. By this means you can avoid unnecessary delays and be back on the road again in the least time possible.

Final Thoughts

Mobile tyre fitting is the modern way to approach your tyre problems as it is affordable, swift and effective.

I’d just like to add my own endorsement to the advice above. Early on in the first lockdown my car had a puncture and I made the mistake of driving to a tyre and exhaust fitting centre to have it repaired.

Even though I reinflated the tyre before departing, it quickly went flat again. By the time I got to the centre the tyre was flat as a pancake and the wheel had gone out of shape as a result. Instead of paying a small fee for a puncture repair, I therefore had to shell out for a new tyre. So I am very much on board with the advice to use a mobile tyre-fitting service in this situation!

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

Disclosure: This is a sponsored post for which I am receiving a fee.

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August 26, 2021

Do You Need Life Insurance?

Nick Saving Money, Everything Else reviews, sponsored post, insurance 4 Comments

Nobody would pretend life insurance is an exciting subject, but in these uncertain times it’s something we all need to think about at least. So in this post I thought I’d set out the basics regarding life insurance and why you might need it.

Table of Contents

What Is Life Insurance?

Life insurance is a type of insurance policy that protects your loved ones financially if you die. It can help minimize the financial impact that your death could have on your family and provide peace of mind for you and them.

Most life insurance policies are designed to pay a cash sum to your loved ones if you die while covered by the policy. This can help them cope with everyday money worries such as mortgage payments, household bills and childcare costs. It may also cover funeral costs. You can take out life insurance under joint or single names, and you can pay your premiums monthly or annually.

There are two main types of life insurance: term life insurance and whole of life insurance.

Term life insurance policies run for a fixed period such as 10, 20 or 25 years. These types of policy only pay out if you die during the term of the policy. A whole-of-life insurance policy, on the other hand, pays out no matter when you die (as long as you keep up with your premium payments, of course).

There are three different types of term life insurance. With decreasing term insurance, the amount payable on death reduces over time. This type of policy is often taken out in conjunction with a mortgage as the payout reduces over time in line with the amount needed to clear the outstanding debt.

You can also get increasing term insurance, where the payout rises each year (typically to take account of inflation) and level term insurance, where it remains the same throughout. Not surprisingly, level term and (especially) increasing term policies are more expensive than decreasing term.

Over 50s Life Insurance

This type of whole-of-life insurance may be of particular interest to Pounds and Sense readers (PAS is particularly targeted at over 50s).

It allows you to leave a guaranteed fixed lump sum to your loved ones when you’re no longer around. To apply, you need to be aged 50 to 80 (85 in some cases) and a UK resident. No medical is normally required, and your monthly premium (which can be as low as £7) won’t change for as long as you live. In most cases cover for accidental death applies immediately, but for death from other causes there may be a waiting period (typically a year). This type of insurance is not normally index-linked, so over time the value of the lump sum payable may be eroded by inflation.

Who Needs Life Insurance?

Life insurance is intended to protect your dependants from getting into financial difficulties if you die. So if you’re single with no dependants and/or on a very low income, it may not be necessary or appropriate for you.

But if you have a partner, children or other relatives who depend on your income, you probably should have life insurance to help provide for them in the event of your death. Many people take out life insurance when they get married or start a family, or when taking on a major financial commitment such as a mortgage.

Most financial experts recommend you take out life insurance before you reach 35, as the sooner you get cover, the cheaper your premium.

What Doesn’t Life Insurance Cover?

Life insurance normally pays out only on death. If you become unable to work due to an accident or illness, you won’t generally be covered.

Some life insurance policies will pay out if you receive a terminal diagnosis. This is by no means always the case, though, so it’s important to check the wording of your policy carefully.

Most life insurance policies also have some exclusions, e.g. they might not pay out if you die from alcohol or drug abuse. In addition, if you take part in risky sports, you may have to pay a higher premium. If you have a serious health problem when you take out a policy, any cause of death related to that illness may be excluded.

For the above reasons, you may also want to consider taking out critical illness cover. This covers you if you get one of the medical conditions or injuries specified in the policy. Some examples of critical illnesses that might be covered include heart attack, stroke, cancer, and chronic, life-limiting conditions such as multiple sclerosis and MND. Most policies will also consider permanent disabilities as a result of injury or illness. These policies only pay out once and then the policy ends. Some policies will make a smaller payment for less severe conditions, or if one of your children contracts one of the specified conditions. Health conditions you knew you had before you took out the insurance won’t generally be covered.

What Does It Cost?

Life insurance can be surprisingly good value. Premiums start at just a few pounds a month. Prices vary a lot, however, so it’s important to shop around and take advice as appropriate.

A variety of factors may affect the price you are quoted. They include the following:

your age
your health
your weight
your occupation
your lifestyle
whether you smoke
your medical history
your family’s medical history
the length of the policy
the amount of money you want to cover
whether you want decreasing, level or increasing term cover

As mentioned above – and other things being equal – the younger you are, the cheaper your policy is likely to be. But as the list above indicates, many other factors can affect the price you are quoted. In addition, women are typically charged a little less than men, as on average they live a few years longer.

The Get Life Cover Option

As you can see, while life insurance is a simple concept, in practice there are many variations. It’s therefore important to establish what is the most appropriate choice for you and your family, and shop around to get the best price for this.

A company that can help with both these things is Get Life Cover. They will put you in touch with an independent financial adviser in your local area, not some anonymous call centre. The adviser will take the time to establish your exact requirements and recommend a bespoke policy tailored to your (and your family’s) needs. They will be able to arrange all types of life insurance, critical illness cover, cover for long-term illness or disability, and so on. Being independent they will also be able to select from the whole of the market. They are not tied to one insurance company, ensuring you get the best possible value for money.

If you wish, Get Life Cover’s independent advisers can also assist you with other financial matters, including investments, pensions, mortgages, tax, and so on.

To get an initial personalized quote, click through to the Get Life Cover website and provide a few basic details to get a quick quote in 30 seconds, without obligation. You can then discuss this with a local adviser to ensure you get exactly the right type and level of cover for your needs.

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

Disclosure: This is a sponsored post on behalf of Get Life Cover. If you click through one of the links and end up making a purchase, i will receive a commission for introducing you. This will not affect in any way the product or service you receive.

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August 24, 2021

Summer Giveaway: Win a £100 Virgin Experience Days Scarlet Collection Voucher!

Nick Everything Else events, competitions 6 Comments

Summer is here, so it’s high time for another exciting giveaway on Pounds and Sense 🙂

I have joined forces with some of my fellow UK money bloggers to bring you the chance of winning a fantastic Virgin Experience Days Scarlet Collection voucher, worth £100. You can use this voucher on any of a huge range of experiences: from an introductory microlight flight to dinner for two at Coombe Abbey; a pamper day with cream tea for two at a Hallmark Hotel to a three-hour oriental cookery class at School of Wok.

After the last eighteen months we all need and deserve a treat, so here’s your chance to grab one for free!

This giveaway has been organized by my colleague Dan from The Financial Wilderness blog, so I should like to thank him very much for this. More details provided by Dan himself, along with instructions on how to enter, can be found below…

Table of Contents

The Prize

The wonderful prize on offer today is a voucher allowing a choice of experience from the Virgin Experience Days Scarlet Collection.

This voucher worth £100 gives you the opportunity to choose a variety of exciting experiences, with something for just about everyone. To give you a flavour of the options on offer in the Scarlet Collection:

For the adventurous – A rally or Porsche driving thrill experience
For the foodies – A range of afternoon teas and dinner options
For the sporty – Have a round of golf at some great courses or learn archery
For the relaxed – A collection of overnight breaks around the country

You can view details of all the available experiences with the Virgin Scarlet Collection on the Virgin Experience Days website here.

The Bloggers Taking Part

This giveaway in run in conjunction with some of my fellow UK Money Bloggers – we run these events to help each other out, so please do visit at least some of the excellent blogs concerned 🙂

Enter to Win a Virgin Experience Days Scarlet Collection Voucher!

Use the Rafflecopter Widget below to make your entry. You’ll need to fill out your basic details and click ‘claim 1 entry’ to be in for the competition.

You also have the opportunity to claim bonus entries by performing an action relevant to the above websites, such as following an account on Twitter or visiting an article. You can do as many or as few of these as you like.

a Rafflecopter giveaway

Terms and Conditions

1. There is one top prize of a voucher for Virgin Experience Days “The Scarlet Collection.”

2. There are no runner up prizes

3. Open to UK residents aged 18 and over, excluding all bloggers involved with running the giveaway

4. Closing date for entries is midnight on 18.09.21

5. The same Rafflecopter widget appears on all the blogs involved, but you only need to enter on one blog

6. Entrants must log in to the Rafflecopter widget, and complete one or more of the tasks – each completed task earns one entry in the prize draw

7. Tweeting about the giveaway via the Rafflecopter widget will earn five bonus entries into the prize draw.

8. 1 winner will be chosen at random.

9. The winner will be informed by email within 7 days of the closing date and will need to respond within 28 days with their delivery address, or a replacement winner will be chosen.

10. The winners’ names will be published in the Rafflecopter widget (unless the winner objects to this).

11. The prizes will be dispatched within 14 days of the winner confirming their address.

12. The promoter is www.thefinancialwilderness.com

13. By participating in this prize draw, entrants confirm they have read, understood and agree to be bound by these terms and conditions.

This giveaway has been arranged by www.thefinancialwilderness.com

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August 9, 2021

The Pros and Cons of Working From Home

Nick Making Money 7 Comments

Due to the pandemic many people are now working from home some or all of the time. And many others, who may have lost their jobs due to the crisis, are now running home-based businesses or considering setting one up. I have been working from home for over 30 years now, so in this post I thought I’d set out the main pros and cons as I see them. I hope if you have recently started working from home, or expect to in future, you might find this helpful. I’ll start with some of the advantages…

The Pros

Save money – If you work from home you will avoid having to pay travel costs and potentially other work-related expenses like takeaway coffees and meals.
Be safer – Working from home means there is less chance of catching (or passing on) Covid-19 or other infections. You also avoid having to venture out during the winter months on dangerous wet or icy roads and pavements.
Save time – You will also avoid wasting many potentially productive hours in your car or on public transport. Many people (e.g. with jobs in London and other major cities) spend two or more hours a day just commuting; added up over a year, the total amount of time ‘lost’ in this way can be quite staggering.
Feel more comfortable – In general you can wear whatever you like. You don’t even have to dress or shave if you don’t wish (though you will, of course, need to make an effort with your appearance when meeting other people in real life or on online platforms like Zoom). You can take tea, coffee and meal breaks as you like, whenever it happens to suit you. You can arrange your office furniture, lighting, temperature and so on exactly as you prefer. And unlike many offices and other workplaces at the moment, you won’t have to wear a mask all day!
Benefit from flexibility – Many aspects of family life can be easier to arrange if you work from home. For example, if you want to pop out at 3.30 to collect your youngest child from school, this should be a lot more feasible. To a degree you will be able to choose your own hours, working early in the morning or late at night if these options suit you best. You can be around in the day when the plumber or meter reader calls; you can put out the washing and bring it back in if it starts to rain; and you will not miss important deliveries because you are toiling away at a separate workplace.
Enjoy tax advantages – If you run a home-based business you may be able to claim a proportion of your household expenses (heating, lighting, mortgage/rent, etc.) against tax. Even if you are working for an employer, you may be able to claim working from home tax relief.
Improve home security – The fact that you are around in the day can help deter burglars (most burglaries in residential areas take place during the daytime). You will also be on the premises – and therefore able to take prompt action – in the event of fires, burst pipes and other such emergencies. Some insurance companies are starting to recognise this fact and offer lower premiums for homeworkers – though this must be set against the fact that work-related computers and other equipment may have to be insured separately for an additional premium.

If you run your own home business there are various additional advantages. You will no longer have to endure the horrors of office politics or attend long, dull, pointless meetings (been there, got the tee-shirt). With your own business you can work as many or as few hours as you wish. If you want to work a fifteen-hour day, you can (though hopefully not every day!). Equally, however, you can work part-time if you prefer, perhaps to fit in with family responsibilities. You can also set your own pace, with no-one standing over you telling you to work harder or faster. For older people, or those with disabilities that slow them down, this can be a particular attraction. As long as your business is bringing in enough money to meet your needs and those of your dependants, you can work as hard or as easily as you wish – you have complete control over your ‘terms and conditions’. But, of course, while you won’t have a boss looking over your shoulder, you will still have clients/customers who will expect a good quality product or service from you within a certain deadline.

The Cons

Although working from home has many attractions, it does possess a few potential drawbacks as well. Some of the main points to consider are set out below.

May disrupt family life – Working from home means you and your family’s domestic lives will inevitably be affected. Obviously you will need a space in the house to work that might otherwise be used by other family members. If running a business you may have to work during the evenings, public holidays and weekends, when most ‘normal’ people are at leisure. Clients may contact you by phone at any time, even outside normal working hours, so family members will need to become accustomed to receiving calls and be briefed on how to handle them. If you have other heavy phone users in the house you may need to get a separate line for business calls.
May be distractions – Friends and relatives who would never dream of interrupting you at a ‘proper’ job may think nothing of phoning up or arriving unannounced, not realising (or perhaps caring) that you are at work. Regular interruptions of this nature can seriously reduce your productivity. Even if you avoid this problem, working from home offers a huge range of potential distractions, from pets and family matters, through shopping and household chores, to gardening and watching television. You will need to be self-disciplined, or you can fritter away many working hours on non-productive (in business terms anyway) activities such as these.
May be lonely – Working from home can be lonely at times. This applies especially if you live on your own, when you may not speak to another person face-to-face (apart from perhaps the post office clerk) for days on end. Even if you do have a family – or at least a spouse/partner – you may find the isolation during the day difficult to bear. This applies especially if you have previously worked in a busy office or factory, or you have a naturally sociable temperament.
Can be hard to get away from work – If you work from home, you may find that work and domestic life become indivisible and it is very hard to ‘switch off’ and relax when the day’s work is done. People who have previously worked in a separate establishment often find the journey between home and workplace provides a valuable psychological dividing line. When your home is also your workplace this line is gone, and the distinction between work and leisure can therefore become blurred.
May need better security – As mentioned previously, in some ways working from home is helpful for home security. But if you have high-value, easily portable equipment such as computers, cameras, tools, and so on, this may make your home a more attractive target for burglars. You may therefore need to increase your security, perhaps fitting a burglar alarm, security lighting/cameras, window locks, and so on.

Finally, if you are setting up a home-based business, planning restrictions may apply. This is most likely to be a problem if your business is likely to cause noise or other irritation to your neighbours. If you live in rented accommodation, the landlord may object to your running a business from his property; and if you are buying your house with the aid of a loan or mortgage, the lenders may be unhappy. There may also be terms in the lease or deeds of your property prohibiting its use for business purposes. And there is a possibility that running a business from home may mean that you become liable for business rates as well as your normal council tax. The best types of business for running from home are those that are small and office-based – or based predominantly on clients’ premises – rather than those requiring workshops and machinery or selling directly to the public. A wide range of home-based franchise opportunities are also available.

In Conclusion

As I said at the start, I have worked from home for over thirty years now, initially as a freelance writer and editor, more recently as a blogger. I enjoy working from home and in general do recommend it. I do just think that there are two key secrets to doing it successfully in the long term. First, you should have a part of your home as your designated workspace. Ideally this could be a separate study or office, but at least a quiet corner where you can set up your equipment and files and not have to pack everything away at the end of the day. Growing numbers of people are now using garden sheds or extensions for home working, and this can also be a good solution. But if that’s not an option, work pods can provide a space-saving refuge in which you can avoid noise and other distractions and focus on getting your work done. I also think that if you’re working from home, it’s vital not to let yourself become isolated. I know that has been easier said than done during the pandemic, but it’s very important to keep up connections with friends, family and colleagues. Home working can be especially challenging if you like and are accustomed to having colleagues to talk to. You really do need to build some social interactions into every day if possible – ideally face to face, but at least via the phone and/or social media. Your mental health may depend on it! If you have any other comments or questions, as always, please do post them below. Disclosure: This is a sponsored post.

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August 4, 2021

Competition: Win 1 of 1,000 Dior J’adore Absolu Samples

Nick Everything Else sponsored post, competitions 0 Comments

Just a quickie today to share details of a free-to-enter competition from my friends at All Free Stuff. You can win 1 of 1000 Dior J’adore Absolu samples (see cover image). This is a great women’s floral fragrance by Dior.

To enter, all you have to do is sign up to the Free Stuff email newsletter. This daily email contains all the latest freebies, free samples, competitions, and more (of course, you can unsubscribe any time). Entrants must be over 18 and live in the UK. For the full rules and to enter the competition, please click here.

Good luck, and I hope you win one of the 1000 prizes!

Disclosure: This is a sponsored post.

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