January 10, 2024

Planning a UK Holiday This Year? Here Are Some Ideas For You!

Nick Everything Else events, reviews, travel 6 Comments

Updated 30 May 2024

For many of us 2023 was another difficult year. While the pandemic receded, we now face a cost-of-living crisis driven especially by rising gas and electricity costs.

With the festive season behind us now and the worst months of the winter still (probably) to come, many of us are understandably desperate for something to look forward to in the year ahead.

Some will be planning to go abroad, perhaps for the first time since the pandemic. But others may be deterred by the cost of going overseas and the additional hassles it may (still) entail.

So today I thought I’d share links to my blog posts about some UK holiday destinations I’ve visited in the last few years, in case you wish to consider them for short breaks – or longer – in the year ahead. Clicking on any of the links below will open my post about the place concerned in a new tab, so you won’t have to keep clicking the Back button to return here.

Table of Contents

The Destinations

Llandudno

Llandudno in North Wales is somewhere I have been visiting regularly for over ten years now. It’s a traditional British seaside resort with a long pier, Punch and Judy show, sweeping promenade, and plenty more (you can see the stunning Victorian seafront in the cover image). It’s very popular with both older people and young families. As well as my main review, my October 2020 Coronavirus Crisis Experience Update includes details of a short break I enjoyed there just before the Welsh government imposed another lockdown 😮

Minehead

Minehead is a North Somerset coastal town. I enjoyed a short break there in 2020 as well, at a time when lockdown rules were relaxed. It was my first visit to Minehead and I particularly enjoyed visiting the National Trust property Dunster Castle, which is just a couple of miles down the road. Sadly the West Somerset Railway which starts (or ends) in Minehead was closed due to the pandemic when I went, but I’d love to go back for a trip on this heritage steam railway sometime in the future.

Aberystwyth

Aberystwyth is in mid-Wales on the Cardigan Bay coast. I have visited it three times now, the first two staying at the Marine Hotel and the most recent at a self-catering apartment called Sea Brin. Aberystwyth is quieter and less commercialized than Llandudno (mentioned above), and the fact it’s a university town means it has quite a cosmopolitan feeling. It’s a good place to chill out, but there are plenty of interesting things to see and do as well.

Aberdovey

I visited Aberdovey for the first time in April 2023. It’s a small town on the mid-Wales coast. It’s about ten miles north of Aberystwyth and five miles south of Tywyn, the home of the Talyllyn Railway (see below). It’s a charming, laid-back place, perfect for a relaxing short break. It has a beautiful beach (with watersports for those who want them) and some great cafes and restaurants. I wouldn’t go there for the night-life, though – even the chip shop closes at 8 pm!

Hewenden Mill Cottages, Yorkshire

I had a particular reason to visit Hewenden MIll Cottages, as my sister Liz and her family live just a couple of miles down the road in Wilsden. Even if I didn’t have family connections, though, I would definitely recommend them for a short break. The accommodation consists of a converted mill and a number of former workers’ cottages, all in a beautiful woodland setting. The apartments and cottages are spacious and well equipped. From here you can visit Haworth – home of the Bronte sisters – and the Victorian model village of Saltaire. The area is also great for walking and cycling.

I went back to Hewenden Mill in October 2021 for a family reunion. I stayed in a cottage on the main site (picture below). I went for a long weekend but ended up staying almost a week. This was from necessity rather than choice, as the petrol crisis struck and I was unable to buy fuel to get home. The management at Hewenden were wonderful, though, and said I could stay on as long as I needed for no further charge. I therefore recommend them even more highly now!

Aberdunant Hall Hotel, nr Porthmadog

The Aberdunant Hall Holiday Park and Hotel (to give it its full name) is about four miles from the North Wales coastal town of Porthmadog You can stay in the hotel itself (which is quite compact) or in accommodation around the park. I stayed in what they call a Forest Pod, which is roughly the equivalent of half a caravan. It was okay for a short break but if you went as a couple the cramped conditions could put a strain on your relationship! If I went again I would book a room in the hotel or maybe one of the Woodland Escape Suites in the park. I still enjoyed my stay there, and found the location convenient for visiting a range of places including Portmeirion (where the sixties TV series The Prisoner was filmed) and the Ffestiniog Railway, which runs from Porthmadog to Baenau Ffestiniog. It’s also on the edge of Snowdonia, with lots of opportunities for walking and mountain climbing.

Lake Vyrnwy

Lake Vyrnwy is a few miles over the border from Shropshire into Wales. I went there in 2019 after watching a TV show about the history of this artificial lake, which was originally created to provide a water supply for the people of Liverpool in the 19th century (it’s now naturalised and if you weren’t aware of its history you wouldn’t know it was man-made). I stayed at the Lake Vyrnwy Hotel and Spa, which is near the dam at the western end of the lake. This was originally built to accommodate senior managers and engineers on the construction project, though it has of course been extended and modernised many times since. If you want to visit Lake Vyrnwy, it’s the best (possibly the only) option. I happened to choose a bitterly cold weekend just before Easter for my visit, which spoiled it a bit. Still, I enjoyed the beautiful scenery and some great walks. It’s probably not a place to take children, however, as there might not be enough for them to do.

The Talyllyn Railway

The Talyllyn Railway (also mentioned under Aberdovey) is a heritage steam railway in Wales. It starts in the town of Tywyn in mid-Wales, so in October 2018 I booked a short break there. To be honest there isn’t a great deal else to do in Tywyn, but it makes a good base for a day on the railway. And the railway itself takes you through some stunningly beautiful countryside. If you buy one of their very reasonably priced Day Rover tickets, you can get on and off at any station along the route. I highly recommend an hour or two at Dolgoch, which has some great walks and lovely waterfalls.

Warner Leisure Hotels

Warner Leisure Hotels have 16 country and coastal resort hotels across England and Wales. They have a strict adults-only policy, and appeal mainly to an older clientele (based on my experience, the average age is around seventy). As well as accommodation they offer a variety of leisure activities, including day trips, quizzes, guided walks, archery and bowls, social dancing, swimming, and so on. Most of these activities are included in the price, as is the evening entertainment. I have stayed at Bodelwyddan Castle in North Wales and Alvaston Hall in Cheshire. Some aspects I liked, others I wasn’t so keen on, as you can read in my review. You can also see their latest offers by clicking on the banner ad below [affiliate].

The Lake District

About four years ago I took a short break in the English Lake District. I stayed at the Waterhead Hotel, just south of Ambleside, at the north end of Lake Windermere (England’s largest lake). The hotel is located literally a few yards from the lake (hence the name, of course). If you haven’t visited the Lake District before, the area should definitely be on your ‘To Do’ list. There are many miles of beautiful countryside to explore, along with attractions such as Beatrix Potter’s house and Wray Castle. And, of course, you must buy a day ticket for the Windermere lake steamers. You can travel the length of the lake in style on these vessels, while sipping a hot chocolate (or something stronger) and listening to commentary on the scenery passing alongside. Highly recommended 🙂

The Isle of Man

I visited the Isle of Man for the first time in April 2024, staying in the island capital Douglas. I went on a heritage-railway-themed break offered by Newmarket Holidays. So naturally I had trips on the Isle of Man Steam Railway and also the Manx Electric Railway. The latter takes you from Douglas to Laxey and onward to Ramsey. Laxey is the home of the iconic Lady Isabella waterwheel, the largest working waterwheel in the world. The IOM is about the same latitude as Liverpool so obviously the weather can be variable, but I was lucky enough to get wall-to-wall sunshine during my stay. I flew to the island from Birmingham Airport which took about 45 minutes, but you can also get a ferry from Heysham or Liverpool. The Isle of Man is charming and verdant, and largely unspoiled. Definitely worth considering if you’re looking for something a little bit different for a short (or longer) holiday.

Llanbedrog

I visited Lanbedrog for the first time in July 2021. It’s a village on the Llyn (or Lleyn) Peninsula in NW Wales. I stayed at an Airbnb property, the first time I had done this (Llanbedrog doesn’t have any hotels as far as I know). It’s by the coast, roughly half way between Pwllheli (famed for its Butlins camp, now run by Haven Holidays) and trendy Abersoch. It has a beautiful sandy beach which would be perfect for families with young children (or grandchildren). I very much enjoyed my three-night stay and found it a perfect place to relax and chill out after months of lockdown. The National Trust mansion (and garden) Plas yn Rhiw is about seven miles away.

Criccieth

I stayed in Criccieth in North Wales for the first time in June 2022, although I have visited the town in the past. It is a lovely place to relax and chill out. It has excellent road and rail connections, and there are also some high-quality tourist attractions nearby, including Portmeirion and the Ffestiniog Railway. Criccieth itself is best known for its castle which dominates the town. Although it’s a ruin, many of the walls are still standing and you can enjoy some amazing views across the bay, as far as Harlech Castle and beyond.

Lavenham

I visited Lavenham in Suffolk for the first time in August 2022. It is said to be England’s best-preserved medieval town, with over 300 listed, timber-framed houses. There are various historic buildings such as the Guildhall and Little Hall you can look around. Lavenham also boasts a variety of highly rated pubs and restaurants, and some lovely tea rooms and coffee houses as well! 🍮

Barmouth

Barmouth is a traditional Welsh seaside resort about ten miles south of Harlech. I visited in September 2022, staying at an elegant Victorian Gothic hotel called Tyr Graig Castle. Barmouth has a clean, attractive promenade and beautiful sandy beach which goes out a long way. There is plenty to do for families, including a funfair and amusement arcades. There are various restaurants and fast food outlets along the seafront. There is also a railway station with regular trains to Pwllheli in one direction and Aberystwyth and beyond in the other. Nearby attractions include Harlech Castle, Portmeirion and the Fairbourne miniature steam railway 🚂

Bath

I visited the historic city of Bath in June 2023. There is lots to see and do, although top of many people’s lists will be the stunning Roman Baths. Bath Abbey is well worth a look too, and you can admire the beautiful Georgian architecture around the city for free! Read my top tips for anyone visiting Bath in this post, including the excellent self-catering accommodation I stayed at.

Other Resources

Here are links to a few other blog posts that may be of interest if you are planning a UK holiday this year…

Booking a Holiday With Airbnb

In recent years Airbnb has become increasingly popular for self-catering holidays. You can book anything from a spare room in someone’s home to a whole house or apartment. My recent short breaks in Lavenham and Llanbedrog (see list above) were in Airbnb properties. You can read all about the booking process in my post.

Find Your Nearest Cashpoint with the Link ATM Locator

Finding a cashpoint in an unfamiliar town (or village) can be challenging, so you might find this free app a useful resource to download. It has helped me avoid embarrassment on several occasions.

Ten Tips for First Time and Solo Cruisers

If your thoughts are turning further afield, you may be considering a cruise holiday as an option. Even if you can’t go abroad, I can testify from personal experience that a cruise of the British Isles (like these, perhaps) can be very enjoyable and enlightening. My blog post sets out a range of tips and advice that will be particularly relevant for first-time and solo cruisers.

Finally, coach holidays are another very popular option among older people especially. I don’t have much experience of this myself, but my friends at Over 60s Discounts have a great article about coach holidays for over-60s in the UK. This includes a list of popular UK destinations and details of several companies offering low-cost coach holidays.

Closing Thoughts

I hope you have enjoyed reading this post and it has given you a few ideas for UK vacations (I refuse to call them ‘staycations’, as in my view that means staying at home for a holiday, and we’ve all had enough of that!).

Obviously I am a 60-something male and nowadays usually travel on my own. So if your circumstances are different from mine, I understand that some of the destinations mentioned above might not hold as much appeal. In addition, I live in Staffordshire, so the places I go are all reasonably accessible from there.

Finally – as I noticed when reading back my list – I do have a bit of a penchant for places with heritage steam railways nearby, so please bear that in mind as well 😀

Of course, I’d love to hear your views about any of the destinations mentioned, or any other places in the UK you would recommend for a short break or longer holiday. Please leave any comments or questions below as usual.

Note: This is a fully revised update of a post originally published in February 2021.

Vintage vector created by ajipebriana – www.freepik.com

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January 7, 2024

HMRC Crackdown on Side Hustles – Truth and Fiction

Nick Making Money events, Tax 2 Comments

As you may have heard, from January 1, 2025, digital platforms like eBay, Etsy and Airbnb will be required to collect additional information from sellers, including number of sales and amount of income generated.

This data will be automatically shared with HM Revenue & Customs (HMRC) by January 31, 2025, covering the 2024 calendar year. HMRC will then compare this against their records to see if any tax may be due.

This news has caused some consternation on messageboards and social media, with many who have ‘side hustles’ to help pay the bills worried they may be hit by an unexpected tax demand. Some of this concern may be justified, but (thankfully) much of it isn’t.

So today I thought I’d explain what’s actually happening and how you can minimize your tax liability from side hustles and reduce the risk of unwanted attention from the taxman (while staying within the law, of course).

So What’s Happening?

Digital platforms will automatically share seller information with HMRC if a seller has made 30 or more sales a year or earned over €2,000 (approximately £1,700).

The reporting threshold is set in Euro as this is a multi-national initiative by the Organisation for Economic Co-operation and Development (OECD) which aims to tackle tax evasion globally. The new rules apply to various digital platforms, defined as any app, website or software connecting sellers to consumers of goods and services.

It’s important to understand that this is a reporting change and not a change in tax law. If you didn’t have to declare certain earnings or pay tax on them before, that remains the case now. In particular, if you are selling personal possessions you no longer want/need – as opposed to items you bought with a view to selling them for profit – that wouldn’t normally count as trading and no tax would be due.

The other important exemption is that everyone in the UK has an annual trading allowance of £1,000. This means you are allowed to make up to £1,000 (gross) per year from self-employed work including side hustles. If your total annual income by this means is below £1,000, there is no need to declare it to HMRC or pay tax on it (even if you have a separate day job). Note, however, that in the case of online auction trading, that £1,000 is income before any platform fees and other selling costs are deducted.

If your taxable earnings from a side hustle are over £1,000 a year, you will need to notify HMRC via a self-assessment tax return. You will then be required to pay income tax on this, unless your total taxable earnings from all sources are below the personal tax-free allowance (currently £12,570).

Top Tips

As promised, here are some tips to help you negotiate the rules surrounding side hustles, minimize any potential tax liability, and reduce the chances of attracting unwanted attention from HMRC, all while staying within the law.

Keep careful records of all your business activities. That includes activities that you don’t believe count as trading, e.g. selling your unwanted possessions. You may need this info if you are challenged by HMRC.
In particular, keep a running record of total sales and number of transactions on platforms such as eBay. If you’re having a clear-out, it won’t be hard to exceed the 30-item or €2,000 limit that will trigger a report to HMRC. As mentioned above, if you’re just selling your old stuff, there shouldn’t be any tax liability. But you might understandably prefer to avoid having to field queries from HMRC about your selling activities.
It might therefore be a good idea to use a variety of platforms for selling your stuff rather than just one. So instead of just eBay, use other similar sites such as Facebook Marketplace, Gumtree, Vinted, Craigslist, Ziffit, eBid, and so on. Aim to keep your total sales on any one platform to under 30 and under €2,000 in total.
If you are selling items you have made yourself (e.g. clothing or jewellery) on websites like Etsy, be aware that this will also usually count as trading and any profits may be taxable. Again you can claim the £1,000 trading allowance, though.
If you think what you are doing counts as trading, monitor when your gross annual income (or turnover if you prefer) is approaching £1,000. At this point you might prefer to ‘shut up shop’ until the following year. Otherwise you will need to declare your earnings to the taxman and (if required) pay tax on them.
Be aware that cashback earned through websites such as Quidco and Top Cashback is not taxable. Neither is the cashback paid with certain bank accounts.
Note also that lottery and competition prizes are not generally taxable in the UK. Neither are gambling wins (not that I recommend this) or any profits made through matched betting.

I hope this article will have clarified the situation for you if you’re pursuing a side hustle or considering doing so. As I said earlier, the tax rules haven’t changed, but with the new reporting regime it’s more important than ever to understand what the tax and trading rules are and ensure you stay within them.

If you have any comments or queries, as always, feel free to leave them below. Please note that I am not a tax professional, however, and cannot answer detailed questions about your personal financial circumstances. As I said in this blog post a while ago, if you need advice with tax matters, in my view a qualified accountant should always be your first port of call.

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January 5, 2024

How to Start Copy Trading With eToro

Nick Investing reviews 5 Comments

In my post today I’m focusing on the trading and investment platform eToro. I originally reviewed eToro in this post.

eToro is a global fintech company with its HQ in Israel. The company has registered offices in Cyprus, the UK, the US and Australia. It is a hugely popular platform with 25 million customers from over 140 countries across the world. They offer a range of share trading and investment services.

eToro is regulated and authorised in the UK by the Financial Conduct Authority (FCA) and is covered by the Financial Services Compensation Scheme (FSCS). That means if eToro were to go bust any cash deposits with them up to £85,000 would be protected. Of course, the FSCS doesn’t protect you if you lose money simply due to your investments performing poorly.

Table of Contents

What is Copy Trading?

Copy trading is a very popular feature of eToro. As mentioned, it allows you to automatically copy the trades of established eToro investors and benefit from the profits they (hopefully) make.

eToro has hundreds, probably thousands, of approved ‘popular investors’ whose trades you can copy automatically on the platform. They each have a profile page where you can find out more about them and their investment strategy.

On a trader’s profile page you can see various stats about them, including how many copiers they have and how many people are following them. You can also check their profits over various timeframes (though of course this is no guarantee of how successful they will be in the future).

eToro operates in US Dollars, though that isn’t an issue for UK investors (see tips, below). There’s a minimum investment of $200 (around £165) for copy trading. However, many approved traders recommend a higher minimum than this. That’s because, when you sign up to copy a trader, eToro automatically duplicates all of that person’s trades in proportion to the size of your investment.

eToro has a minimum investment size of $1 and if a trade would work out less than that pro rata it won’t be executed. It follows that traders whose strategies typically involve placing large numbers of relatively small trades generally recommend a higher minimum starting investment.

One of the biggest attractions of copy trading is that no charges are payable. The traders in question receive commission from eToro for the business they bring in for the company. So in effect you are getting privileged access to the skills and expertise of these people at no cost to yourself.

You are allowed to copy up to 100 different popular investors, though you can of course start with just one.

How to Copy a Trader

Before you can start copy trading, you will need to register for an account with eToro and deposit some funds with them. I talked about this in my original eToro review.

Once you have done this, you can check out popular investors on the platform by clicking on Discover in the left-hand menu of your dashboard when logged on, then clicking on CopyTrader near the top.

A new page will open showing the most popular copy traders and also those whose copier numbers are currently growing the fastest (probably due to good recent performance). Here’s a screen capture showing part of this page at the time of writing:

You can also use the search facility to search for popular investors according to where they are based, what they invest in, and how much profit they have made within a certain period.

Once you’ve found an investor you want to copy, click on the green ‘Copy’ button on their profile page. A pop-up box such as the one below will then appear. Enter the total amount you want to invest at the top.

You also have to choose whether you want to copy all existing open positions as well as new ones. ‘Copy Open Trades’ is the default, and if you want to do this you should leave the box in question ticked. If you uncheck the box, only new trades opened after you start investing will be copied.

One drawback with copying all open positions is that you’ll be investing in these trades at the current price, whatever it is, instead of the price when the trader concerned opened their position. If the price has gone up since then, the profit potential may be less. On the other hand, if you opt only to copy new trades, it may be some time before your money is fully invested. There are pros and cons either way, but ultimately the longer you stay invested, the less difference this decision is likely to make.

Another choice to make here concerns the CopyTrader Stop Loss (CSL). If your copy value falls by that amount, the CSL will automatically terminate the copy relationship and return the remaining money to your eToro balance. You can set this figure anywhere between 5% and 95%. My advice is not to set it too high, as even a brief ‘wobble’ will then trigger the stop loss and crystallize your losses (see tips, below).

If any of the above sounds at all daunting, note that everyone on eToro also gets a $100,000 virtual portfolio to practise with. You can copy trade using this virtual money to see how the process works and what returns you make.

My Experience of Copy Trading

In June 2022 I invested $500 (then about £412) copying a Netherlands-based eToro trader called Aukie2008 (real name Mike Moest). I chose him for various reasons, including his eToro profit record and the number of followers he had already.

On his profile page he came across as a likeable, straight-talking individual, as well as being an experienced and knowledgeable trader. He posted regular updates on his strategies and on investing generally. I also liked the fact that he always took the trouble to answer questions posted by his followers. His recommended minimum starting investment was $500.

Unsurprisingly in these volatile times, my investment has been up and down, but it is currently (after 18 months) about $125 (25%) in profit. All things considered I am very happy with that.

In due course I may top up my copy trading investment with Aukie2008. I may also diversify my investments, either by following another approved trader or perhaps via another themed smart portfolio. As regular PAS readers will know, a few months ago I invested $500 in the Oil Worldwide smart portfolio. As the screen capture below shows, this has done okay, though not as well as my copy trading investment. It’s still early days, though.

Top Tips for Copy Traders

Here are some top tips to help you make the most of the copy trading facility on eToro. These are based partly on my own experiences, but also on other comments and advice I have seen.

As mentioned above, check the minimum recommended investment for any trader you are thinking of following and be sure to invest this amount of money or more.
Note also the risk score assigned by eToro. Each approved trader is allocated a score between 1 and 10, with 1 representing very low risk and 10 the highest. Scores are based on the number, size and type of trading activities they engage in. If you are just starting out you might prefer to begin with someone relatively low risk (say 5 or lower) and work up from there as you gain experience on the platform.
Other things being equal, when following a trader I recommend choosing ‘Copy Open Trades’. This will ensure all your money is put to work immediately. As mentioned above, it does mean some positions may not have the same profit potential as when they were opened, but the longer you remain invested, the less this will matter overall.
Also, as mentioned earlier, don’t set your CSL too high. Doing so will mean even a slight wobble may trigger your stop loss and crystallize your losses. Personally I wouldn’t set this figure any higher than 70%, but it’s your decision, of course, based on your tolerance for risk.
To keep currency conversion costs to a minimum, I strongly recommend opening a separate eToro Money account. This will allow you to deposit instantly to your eToro account without paying currency conversion fees or charges.
Remember one key principle of successful investing is diversification. You should therefore consider copying a number of traders with different investment strategies rather than just one. In addition, eToro offers a range of other investment opportunities as well, including individual company shares and themed portfolios.
Even though you’re following an approved trader, you should still monitor his/her results carefully and be prepared to switch if it seems they are losing their touch.
I recommend reading all the updates on the trader’s profile page too. Not only do these provide valuable background about their strategies, you can also learn a lot about the thought processes of professional traders.
Finally, don’t forget that everyone on eToro also gets a $100,000 virtual portfolio to practise with. You can use this to try out copy trading or any other type of investment without risking any real money.

Closing Thoughts

If you’re looking for an interesting (and somewhat unusual) investment opportunity, copy trading on eToro is certainly worth considering.

In effect, your portfolio is managed on your behalf by an experienced professional trader, whose expertise you get access to at no direct cost to yourself. There are plenty of approved traders to choose from, and you can study their past performance and personal updates via their profile pages before picking one (or more) to follow.

For more information about eToro, please see my original eToro review. Alternatively you can sign up directly on the eToro website via this link [affiliate]. I will continue to update Pounds and Sense readers about the performance of my eToro investments in my monthly updates (such as this one).

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

Disclaimer: I am not a qualified financial adviser and nothing in this 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 this post includes 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.

This is a fully updated version of my original (2022) blog post about copy trading on eToro.

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January 1, 2024

My Investments Update – January 2024

Nick Investing events, reviews 0 Comments

Happy New Year! Here is my latest monthly update about my investments. You can read my December 2023 Investments Update here if you like

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £22,292. Last month it stood at £21,282 so that is an increase of £1,010.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,501 compared with £3,351 a month ago, a rise of £150. Here is a screen capture showing performance since the start of this year.

Finally, at the start of December I invested £500 in one of Nutmeg’s new thematic portfolios (discussed further below). This has now grown to £523, an increase of £23 or 4.6%. That would equate to an annual interest rate of just over 55%. Naturally I don’t expect that to happen in reality!

December was obviously another very good month for my Nutmeg investments. Excluding my new thematic portfolio, their total net value rose by £1,160 or 4.71% month on month. That represents an increase of £2,872 (12.53%) since 1st January 2023. If you add in the increase in value of my thematic portfolio as well (£23), that gives a total increase of £2,895 since the start of the year.

This is obviously a much more positive outcome than appeared likely just a few months ago. It clearly demonstrates the importance of taking a long-time view where investing is concerned and not panicking when the inevitable downturns occur.

As regards thematic portfolios, I discuss these in more detail in my full Nutmeg review. Personally I opted for Resource Transformation. Nutmeg’s description of this portfolio is copied below:

As the global population has risen, so has our demand for energy and resources. In recent years, the way we use resources has also shifted to meet changing consumer demands and national policy shifts towards a lower carbon future.

This theme aims to provide exposure to companies that will participate in these changes and service our energy and material needs in the future. This includes the next generation of energy production, which includes renewables and non-renewables, the mining of metals and materials needed for mass-market electrification, and the treatment and transportation of water.

This appealed to me for various reasons. Clearly energy production will be crucial in the coming decades as the world attempts to transition away from fossil fuels. But I also like the fact that the portfolio includes both renewable and non-renewable energy providers. Realistically we are still going to require fossil fuels for many years, not least to keep the lights on when the wind doesn’t blow and the sun doesn’t shine.

The Resource Transformation portfolio offers plenty of diversification, with all investments in the form of ETFs (exchange traded funds). In addition, only a maximum of 20% of your investment will be in ETFs specific to the theme, with the other 80% more broadly diversified. Actual percentages depend on the risk level you choose. I went for the highest (10/10), so 20% of my investment will be in RT-themed ETFs. But if I’d opted for a lower risk level the proportion of my investment dedicated specifically to the theme would have been less (down to 10% for the lowest risk level, which is 5 for thematic portfolios).

If you are new to thematic investing and want to dip a toe in the water, it does seem to me that Nutmeg thematic investments could be a good, relatively low risk way of doing so, with plenty of diversification. Though of course there are never any guarantees where investing is concerned and you can always lose money when doing this.

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. I currently have around £1,600 invested with them in 10 different projects paying interest rates averaging around 7%. I also have around £300 in my Kuflink cash account, after a couple of other loans were paid off with interest. I will probably withdraw this to help pay for a holiday in 2024 🙂

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 currently range from 7% for one year to 9.83% gross for a three-year term.

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 £155.08 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, 7 of ‘my’ properties are showing gains, 1 is breaking even, and the remaining 19 are showing losses. My portfolio is currently showing a net decrease in value of £42.61, meaning that overall (rental income minus capital value decrease) I am up by £112.47. 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.

As mentioned last time, I recently reinvested £40 of my rental income from Assetz Exchange in a house for asylum seekers in Sunderland. This property is being managed by Mears on behalf of the Home Office, so I think the chances of them going into default are pretty remote! My £40 investment in this property has already increased in value by 54p and I have received 22p in revenue. It all helps 🙂

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.

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 $1,224.88, an overall increase of $202.62 or 19.82%. In these turbulent times I am very happy with that.

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 two more articles published in December on the excellent Mouthy Money website. The first is How to Make Money Teaching English Online. As I say in the article, this can be an excellent home-based money-making opportunity which offers great personal satisfaction as well. Prior teaching experience isn’t necessarily required, though if you have some it will certainly help.

Also in December Mouthy Money published my Christmas Gift Guide for Older People. Obviously Christmas has now passed. But if you are looking for gift ideas for older friends and relatives (maybe for birthdays or anniversaries) you may still find this a good source of inspiration 🙂

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.

Mouthy Money are also currently running a competition to win one of five free copies of Freedom: Earn It, Keep It, Grow It by Robert Gardner (see Amazon image link below). Visit this page of the Mouthy Money website for further info and to enter.

I also published several posts on Pounds and Sense in December. I won’t bother mentioning those that are out of date now, but the others are listed below.

I guess My Top 20 Posts of 2023 is self-explanatory. The posts are chosen based on comments, page-views and social media shares. They are in no particular order and I excluded any that were no longer relevant. I hope you may enjoy revisiting these posts, or seeing them for the first time if you are new to PAS.

The other post was Take The Penny Challenge to Save £667.95 by This Time Next Year! This post sets out a clever, relatively painless way to save up a useful sum by the end of 2024. Do check it out!

On other matters, the opportunity to get a free share worth up to £100 with Trading 212 has reopened. If you haven’t done this before, you can get a free share worth up to £100. You just have to sign up on the website and deposit a minimum of £1 into your account. This offer is running till 27 January 2024. See Get a Free Share Worth up to £100 with Trading 212 for more info.

You 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 wanted to mention as well that 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 a bit 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, so I will close by wishing you a very happy and prosperous new year. As always, if you have any comments or queries, feel free to leave them below. I am always delighted to hear from PAS readers

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December 30, 2023

Take The Penny Challenge to Save £667.95 by This Time Next Year!

Nick Saving Money events, sponsored post 0 Comments

Today I wanted to share with you a clever money-saving idea I came across on the excellent Wow Free Stuff website.

The Penny Challenge offers a painless way to save money every day – so in a year’s time you will have the substantial sum of £667.95 stashed away. That’s money you could spend on anything you like.

How It Works

The challenge itself is very simple.

On the first day you put aside one penny. Each day after that you add another penny to the amount you save. So on the second day you save 2p, on the third day 3p, and so on.

Over the course of a year (365 days) the amount you have to save each day is shown in the grid below.

As you will see, by the last day of the challenge you will have to find £3.65 – still an easily affordable sum. And once you have done that, you will have a total savings pot of £667.95.

This would be a great way to get your money-saving started painlessly in 2024. It will ensure that by January 2025 you have a handy sum set aside to pay for any large purchase you have set your heart on, and maybe treat yourself to a post-Christmas holiday as well!

Please let me know if you decide to take the Penny Challenge by posting a comment below. And, of course, if you have any other comments or queries about it, feel free to post them also.

Note: This is an updated version of a sponsored post for which I received a fee.

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December 22, 2023

My Top 20 Posts of 2023

Nick Making Money, Saving Money, Investing events 0 Comments

As is customary for bloggers at this time of year, here are the top twenty posts on Pounds and Sense in 2023, based on comments, page-views and social media shares. They are in no particular order. I have excluded any posts that are no longer relevant.

I hope you will enjoy revisiting these posts, or seeing them for the first time if you are new to PAS.

All posts in the list below should open in a new tab/window when you click on the link concerned.

I’ll be taking a break from blogging over the festive period (though I’ll still be around on X/Twitter and Facebook). I’ll therefore close by wishing you a Very Merry Christmas (strikes and cost-of-living crisis permitting) and for all of us a brighter, more prosperous new year 🍾

If you have any comments or questions, of course, feel free to leave them below as usual.

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December 10, 2023

The Great UK Bloggers Christmas Giveaway and Gift Guide!

Nick Everything Else events, competitions, families 0 Comments

Christmas 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 festive giveaway with prizes valued at over £700 in total.

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 19 December 2023. 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 mammoth bundle!

Table of Contents

The Great Bloggers Holiday Giveaway and Gift Guide

We are back for another Christmas Holiday Giveaway and Gift Guide! Some of the UK’s top bloggers have united to bring you the most incredible holiday bundle of prizes.

Last year’s giveaway proved to be very popular and this year is just as exciting, with so many prizes for one lucky winner to make their family’s Christmas dreams come true. In fact, we have hundreds of pounds worth of holiday goodies and gifts!

The Bloggers

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

The Prizes

Lenovo ThinkPad X13 Gen 1 i5-10210U [Quad] 1.60GHz 13.3″ FHD IPS TOUCH HDMI USB-C 16GB DDR4 256GB NVMe from Tier1

You have a chance to win the powerful Lenovo ThinkPad X13 Gen 1, featuring an i5-10210U [Quad] 1.60GHz processor, a stunning 13.3″ FHD IPS TOUCH screen, HDMI and USB-C ports, a whopping 16GB DDR4 RAM, and a speedy 256GB NVMe storage. This premium laptop is all you need for your work or play!

This prize is brought to you by Tier1, your destination for affordable and eco-friendly tech gifts. Why are Tier1 gifts perfect for Christmas? It’s simple – they’re good for your pocket and good for our planet. With Tier1, you get top-notch tech without breaking the bank, contributing to a more sustainable future. Their products are professionally refurbished, assuring quality and reliability while reducing electronic waste. So if you thought you couldn’t afford to buy tech gifts for your loved ones, head on over to Tier1 for affordable gifts with the wow factor to make your holidays bright and green!

Hairy Biker’s Family-Sized Soup Maker

Get ready for a festive feast with our Christmas Giveaway! Enter now for a chance to win the Hairy Biker’s 1.6L Family Sized Soup Maker with Integrated Scales. This 1000W powerhouse is all you need to whip up delicious, heartwarming soups this holiday season.

Why is this soup maker a must-have in your kitchen? It’s not just about the delicious soups you can create. It’s also about saving time and money. With its integrated scales, you can easily measure ingredients directly into the soup maker – no need for extra dishes. Plus, it cooks up soups quickly and efficiently, giving you more time to enjoy with your loved ones. But that’s not all. Making homemade soup means you control what goes in, helping you avoid the high salt and sugar content often found in canned soups. You can use up leftovers, reducing waste and saving money.

So don’t miss out on this opportunity to make your Christmas cooking easier and healthier. Enter our Christmas Giveaway today and bring home the Hairy Biker’s 1.6L Family Sized Soup Maker as part of your prize!

Life Coaching Sessions Worth £200!

Start the New Year on a high with two life coaching sessions from Lauren Jane Coaching. Lauren helps women invest in themselves, find clarity and balance in their lives, and be at ease with themselves at home and in their careers. She coaches from the inside and allows her clients the space to get truly honest with themselves, helping them to hit the pause button, get more clarity in their lives, move forward with purpose – and feel really good about it! What better way to start 2024?!

Being stressed out, overwhelmed, out of balance, anxious or stuck in any area of your personal, business, or career world can make life feel like hard work, especially following the busy holiday season! Lauren is offering two free sessions to help our winner build on their inner belief, confidence and sense of self-worth until they shift and tune into a new perspective for themselves and their life.

Liiton The Peaks Whiskey Glasses

When you join our special Christmas Giveaway, you will have a chance to win an elegant Set of 4 Liiton The Peaks Whiskey Glasses. This is an incredible gift that’s perfect for the festive season.

The Peaks Whiskey Glasses Set is a dream come true for any whiskey lover. Each glass is crafted using X1 Crystalline and features a true precision glass sculpture of iconic mountains Denali, Mont Blanc, K2 and Mt. Fuji. Weighing in at 1lb each, the glasses have the Patented Chill-Charge System™ which chills down your drink in just 18 seconds. They not only look stunning, but if you swirl the spirits gently around the faces of the Peaks, you will unlock the beautiful whiskey aromas.

This set of 4 glasses ensures you’re always ready to share a toast with friends or family during the holiday season. Made from high-quality materials, these glasses are durable and beautifully crafted, making them a standout addition to any home bar or drinkware collection.

FinaMill

Join our exciting Christmas Giveaway and stand a chance to win a FinaMill! This unique gift is an excellent addition to any kitchen, especially during the festive season.

A FinaMill is more than just a kitchen tool. It’s a game-changer for any home cook or chef. With a Sleek, minimalist design, this mill effortlessly grinds spices and herbs at just a touch of a button, releasing their full flavour and aroma right when you need them. Whether you’re preparing a holiday feast or baking Christmas cookies, this Finamill can help elevate your dishes, making every meal more memorable. Plus, its stylish design adds a touch of sophistication to your kitchen decor.

Don’t miss out on the opportunity to enhance your cooking experience this Christmas. Enter our giveaway now for a chance to win this Finamill in Stone along with other amazing prizes!

Rectangle 3-D Crystal Photo Gift from Forever-Always

Get into the festive spirit with our Christmas Giveaway and stand a chance to win a truly unique gift – the Rectangle 3-D Crystal Photo Gift from Forever-Always in size medium (9cm W x 6cm H x 6cm). This is a special present that’s perfect for capturing cherished memories.

The Rectangle 3-D Crystal Photo Gift is a stunning piece of personalised decor. Your chosen photo is created into a beautiful 3-D image that seems to float inside. It’s a wonderful way to immortalise a precious moment or loved one, making it an exceptionally thoughtful gift. Whether it’s a picture of a family gathering, a beloved pet, or a memorable holiday, this crystal photo gift brings your memories to life in an artistic and beautiful way. Displayed on a mantelpiece, bookshelf, or desk, it adds a touch of elegance and personal touch to any space.

Opinel Folding Saw

As part of our giveaway, we’ve got a prize from Opinel that will delight any outdoor enthusiast. The Opinel Folding Saw is an essential tool for every nature lover. Whether you need to cut firewood for a cosy campfire or prune branches for a clearer path during your forest adventures, this folding saw is your perfect companion. Crafted with Opinel’s signature commitment to quality, it offers durability, precision, and ease of use that makes it stand out in its category.

This Christmas, one lucky winner will have the chance to claim this fantastic tool as their own. So why wait? Enter our Christmas Giveaway now and make this festive season truly unforgettable. With the Opinel Folding Saw, you’ll be fully equipped for your next outdoor adventure. Let the festivities begin!

Graco’s FoldLite LX

As part of our festive Christmas Giveaway, you have a chance to win the perfect item for families on the go – the Graco FoldLite™ LX travel cot.

This travel cot with basinet is perfect for those with little ones, from birth to approx. 3 years (max. 15kg) and the Bassinet from birth to approx. 6 months (max. 9kg).Graco’s FoldLite LX travel cot offers a comfy space for your baby to sleep or play, no matter where your adventures take you. Lightweight and easily foldable, it’s designed for maximum portability for when you are away from home.

Don’t miss this opportunity to win a gift that brings convenience and comfort to the little ones. Enter our Christmas Giveaway now for a chance to win Graco’s FoldLite LX travel cot, among other fantastic prizes!

French Navy Patent Chelsea Boot from Start-Rite

Start-Rite is a British heritage brand that specialises in children’s footwear that enables healthy development whilst creating stylish designs that appeal to parents and children. The French Navy patent Chelsea boot is no exception, and it’s the perfect footwear for your kids over the holiday season.

Whatever the adventure, this stylish boot from Start-Rite will carry little feet through any day in comfort. The inside zip fastening is useful for getting boots on and off quickly and with ease, and the durable sole is ready for any adventure. Crafted in elegant French navy patent with check elastic, the Chelsea French navy patent boots will make any outfit complete. Our winner can choose the size and receive this as part of their prize!

Learning Resources Brainbolt® Genius

Get ready to supercharge your memory this holiday season with our Christmas Giveaway! This year, we’re excited to include the Learning Resources Brainbolt® Genius in our prize bundle. Brainbolt® Genius is a mind-challenging game that tests your memory skills to the max. It lights up different sequences, and your job is to remember and replicate them.

It’s a fun and exciting way to keep your brain active and sharp. Whether you’re playing alone or with friends and family, Brainbolt® Genius keeps the competition lively and the fun rolling. It’s compact and portable, perfect for on-the-go entertainment during holiday travels. So why not give your memory a festive boost? Enter our Christmas Giveaway now and stand a chance to win the Brainbolt® Genius, along with other fantastic prizes. It’s the perfect gift for keeping minds active and engaged over the holiday season!

SAVEUR Selects® Artisan Non-Stick Loaf Pan

Get ready to add a dash of elegance and convenience to your holiday baking with our exciting Christmas Giveaway! This festive season, you stand a chance to win the exquisite SAVEUR Selects® Artisan Non-Stick Loaf Pan – 10″ as part of the prize bundle. This isn’t just a baking essential, it’s a gift that promises to make your kitchen experiences more delightful and your festive goodies more delicious.

The SAVEUR Selects® Artisan Non-Stick Loaf Pan is a coveted item for any home baker. It’s not just a baking tool; it’s a craft of art and functionality combined. This pan, crafted from high-quality, durable materials, boasts a non-stick surface that means your baked loaves slide out perfectly every single time. No more worries about your bread sticking or crumbling!

Whether you’re planning to bake a traditional Christmas fruitcake filled with rich, dried fruits and nuts, a moist and luscious banana bread, or perhaps you’re in the mood to experiment with some new, creative recipes, this loaf pan is your perfect partner. Its generous 10-inch size ensures you can create substantial loaves to share and spread the festive cheer among family and friends.

So why wait? Enter our Christmas Giveaway now for a chance to win this premium Loaf Pan, along with other fantastic prizes! This could be the perfect opportunity to elevate your baking game this festive season. Let the aroma of freshly baked loaves fill your home and hearts this Christmas.

Little Brian’s Paint Sticks Christmas Window Kit

Light up your holiday season with our Christmas Giveaway! This year, we’re thrilled to include Little Brian’s Paint Sticks Christmas Window Kit in our prize bundle. This fantastic kit lets your little ones bring the magic of Christmas right into your home. It includes a range of vibrant, mess-free paint sticks and stencils that make it easy for kids to create festive window decorations. Whether it’s snowflakes, reindeer, or Santa himself, your kids can paint their favourite Christmas motifs directly onto the windows.

The paint sticks are incredibly easy to use and dry quickly, leaving no mess behind. So why not add a dash of creativity to your Christmas celebrations? Enter our Christmas giveaway now for a chance to win the Little Brian’s Paint Sticks Christmas Window Kit [affiliate], along with other exciting prizes. Unleash your child’s artistic talent and fill your home with festive cheer this holiday season!

EUGY Christmas Elf

We’re thrilled to announce that a charming EUGY Christmas Elf is part of our prize bundle. This delightful elf, brought to life by EUGY, is more than just a cute decoration. It’s a symbol of EUGY’s commitment to protecting the planet. Made from recyclable card and printed with natural eco-friendly ink, this little elf is as green as it is adorable. What’s more, it’s assembled with non-toxic glue, making it safe for kids and adults alike. It’s a fun, creative, and sustainable way to add a touch of magic to your holiday celebrations.

So why wait? Enter our Christmas giveaway now for a chance to bring home this eco-friendly EUGY Christmas Elf [affiliate] along with other exciting prizes.

Elf Toy from Elf for Christmas

We’re excited to announce that a delightful Elf Toy from Elf for Christmas is part of our prize bundle.

But here’s the best part – the winner gets to choose their very own elf! These charming elves are not just toys but a wonderful addition to your family’s Christmas celebrations, bringing joy, wonder, and a touch of elfin magic to your home.

So don’t miss out – enter our Christmas Giveaway now for a chance to welcome a new elf friend into your home this holiday season!

Gold Star Costume ‘Shining Light in the Night’

We’re thrilled to include Pretend to Bee’s enchanting Gold Star Costume ‘Shining Light in the Night’ in our prize bundle.

This twinkling costume is perfect for your little star to shine bright during the festive season. It’s more than just a costume; it’s a ticket to a world of imagination where your child can become a shining beacon.

Don’t miss this chance to make your child’s Christmas extra special. Enter our Christmas Giveaway now for a chance to win this magical Gold Star Costume along with other fantastic prizes. Let’s light up this Christmas with joy and imagination!

Family First Aid Kit from LittleLife

The Family First Aid Kit from LittleLife is your must-have companion and proudly a Silver award winner, voted for parents as Best Travel Product for Under £30, in the prestigious Mother & Baby Awards 2024. Whether at home or away, this compact kit ensures peace of mind for you and your loved ones. With everything from Sudocrem, scissors, and tweezers to bandages, dressings, and antiseptic wipes, it’s the ultimate solution for any minor accidents. The Family First Aid Kit is great to take with you for any days out or travelling you do over the holiday season and we have one to give away as part of our prize bundle.

Every Piece of You Puzzle from Gibson Games

The Gibson Games Puzzle, “Every Piece of You,’’ is a captivating 1000-piece jigsaw puzzle that reminds us to celebrate the weird and wonderful pieces of ourselves in a fun and colourful style. Created by Katie Abey, this is not your ordinary jigsaw puzzle.The illustrations of the puzzle represent real people and their stories. Made from 100% recycled puzzle board and with vegetable based inks, this is the perfect gift for any jigsaw lover.

Play-Doh Air Clay Super Colour Bucket

The Play-Doh Air Clay Super Colour Bucket is a fun and colourful part of our Christmas Prize Bundle. Packed with 15 vibrant colours, ten cutter moulds, two handy tools, and an inspirational sculpting guide, it’s perfect for unleashing your kid’s creativity with modelling clay this festive season!

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 7 pm 9th December 2023 to 11.59 pm 19th December 2023.
The winners will be notified by email from rowena@mybalancingact.co.uk
The winner will have 7 days to respond, after which time we reserve the right to select an alternative winner.
This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, 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 arrive after Christmas and may take a few weeks to arrive. We will do our best to get them to you before Christmas but this is not guaranteed.
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 that 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 fabulous prize bundle!

Disclosure: This post includes some affiliate links.

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December 1, 2023

My Investments Update – December 2023

Nick Investing events, reviews 1 Comment

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

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £21,282. Last month it stood at £20,214 so that is a welcome increase of £1,068.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,351 compared with £3,183 a month ago, a rise of £168. Here is a screen capture showing performance since the start of this year.

November was obviously a good month for my Nutmeg investments after a disappointing previous three months. Their total net value rose by £1,236 or 5.28% month on month – a rise of £1,712 (7.47%) since 1st January 2023. This has obviously been another roller-coaster year, but as things stand I think that’s a pretty decent annual return. I am hoping the trend will continue with the traditional Santa Rally in December!

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

As you may know, I recently revised and updated my full Nutmeg review. This was mainly to incorporate details of their new thematic investment styles, but I took the opportunity to update some other information and performance stats as well.

As it says in the updated review, the new thematic style provides a globally diversified, risk adjusted portfolio with a tilt (up to 20% of equity exposure) towards your chosen theme. The majority of the portfolio will be actively managed by Nutmeg’s investment team, whilst the ’tilted’ part of the portfolio will be made up of ETFs that their investment team believes will deliver the best returns from the trend in question (to be reviewed annually).

Currently three themes are available, these being Technical Innovation, Resource Transformation and Evolving Consumer. Nutmeg thematic portfolios are only available on Risk Level 5 or above. There’s a minimum investment of £100 for Junior ISAs and Lifetime ISAs or £500 for stocks and shares ISAs and pensions. There is a 0.75% management fee. For more details about what each of the themes comprise, check out the Nutmeg website.

I like the new thematic styles on Nutmeg and have just invested a modest amount in one myself (I opted for Resource Transformation). I will talk more about this in my next monthly update in January, and will obviously keep PAS readers informed as to how it fares.

Nutmeg’s thematic styles are similar in concept to the so-called smart portfolios on eToro, which I discussed in this recent blog post. They appear to be more broadly diversified, however, so may be a good choice for those who are new to thematic investing and want to dip a cautious toe in the water first.

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 £2,100 invested with them in 12 different projects paying interest rates typically around 7%.

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

As mentioned last time, 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 the option to ‘test the water’ with a small first investment has been removed. It will also make it harder for small investors (like myself) to build a well-diversified portfolio on a limited budget.

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

Since I opened my account, my AE portfolio has generated a respectable £149.50 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 18 are showing losses. My portfolio is currently showing a net decrease in value of £42.37, meaning that overall (rental income minus capital value decrease) I am up by £107.13. 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.

As a matter of interest, I recently reinvested £40 of my rental income from Assetz Exchange in a house for asylum seekers in Sunderland. This property is being managed by Mears on behalf of the Home Office, so I think the chances of them going into default are pretty remote!

The 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).

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 $1,203.02, an overall increase of $180.76 or 17.68%. In these turbulent times I am very happy with that.

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 another article published in November on the excellent Mouthy Money website. This explains how you may be able to Write and Publish Kindle e-Books for Profit. This is something I have done myself in the past, and when I was researching this article I was impressed to discover it’s easier than ever now. It’s a competitive field, but definitely worth checking out if you’re looking for an extra string to your sideline-earning bow.

You might also like to know that Mouthy Money are currently running a competition to win one of five free copies of Freedom: Earn It, Keep It, Grow It by Robert Gardner (see Amazon image link below). Visit this page of the Mouthy Money website for further info and to enter.

I also published various posts on Pounds and Sense in October. I won’t bother to mention those that are out of date now, but the rest are listed below.

Key Things to Consider When Making a Gift or Loan to Married Children was an eye-opening guest post by Joanna Toloczko, a partner, family law solicitor and mediator at UK law firm RWK Goodman. Joanna’s article discusses what can become a major issue for parents when making gifts or loans to their married children. Specifically, it looks at what you can do to ensure that your wishes are respected should the worst happen and the marriage fails.

I also published (or more accurately republished) How to Make More Money From National Grid Powersaving Events. For the second winter in a row some energy companies are offering incentives to customers to reduce their electricity use during periods of peak demand, with payments made to those who succeed in doing this. In this article I explained how these schemes work and what you can do to maximize your earnings from them.

Also in November I published an article about a survey from HSBC regarding how British people choose life insurance. There were some interesting findings in this, including the growing numbers of people deciding against getting life insurance due to the cost-of-living crisis. As I note in this article, this could sadly prove to be a false economy.

Next up, I published a short post about an important (in my view) change to the tax-free ISA rules in the Chancellor’s Autumn Statement. This is a rule change I warmly welcome and have in fact been advocating on PAS (and elsewhere) for some time.

Finally, I published a fully updated post on the subject What Are the Best Video Calling Tools for Older People? This is particularly relevant in the run-up to Christmas. Video calling can provide an invaluable means for older people (and others) to keep in touch with far-flung friends and family. In this post I set out a wide range of options you can use.

On other matters, the opportunity to get a free share worth up to £100 with Trading 212 has now closed, but you can 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 has been raised from £20 to £50 – but on the plus side, they now guarantee your free ETF share will be worth at least £10. What’s more, for the next month Wealthyhood say they will plant a tree for every new account opened

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

That’s all for today. Do hope you are keeping safe and warm in the current Arctic spell. As always, if you have any comments or queries, feel free to leave them below. I am always delighted to hear from PAS readers

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November 27, 2023

What Are the Best Video Calling Tools for Older People?

Nick Everything Else events, reviews 8 Comments

Christmas will soon be here. Touch wood, it looks as though it will be more ‘normal’ than the last few years. But even with memories of the pandemic fading, many older people especially will still be understandably cautious about how much face-to-face socializing they do at this time.

In addition, this year we have a cost-of-living crisis and widespread strikes. Those affecting the railways in particular will put a spoke in many people’s travel plans. And even if you drive instead, there is likely to be congestion (and worse) on many roads and motorways.

All this means that potentially there may still be less face-to-face socializing this Christmas, especially where older people are concerned. Of course, it’s true they are more likely to suffer severe consequences if infected with respiratory viruses such as flu, so a measure of caution is understandable. But many have been seeing other people less often for several years now. And a lack of human contact – at this time of year especially – can lead to loneliness, depression, and other health issues (physical and mental).

While not a complete solution, video calling can provide a lifeline for older people. In particular, it can provide a means for them to keep in touch with distant friends and family, and especially with children and grandchildren.

So in this post I thought I’d look at some of the main options available. I hope this will help if you are an older person yourself, or if you have older friends and relatives.

Table of Contents

What Do You Need?

At the risk of stating the obvious, if you’re going to make video calls, you will need a device with a camera and a microphone.

The good news is that all modern smartphones, Apple or Android, have good-quality cameras built in. These devices can be great for video calling, as you can hold them comfortably in your hand, move around with them, and point them at yourself or at anything you might want to talk about. The one drawback with smartphones is that the screen is relatively small, but for one-to-one conversations they are perfectly adequate.

Other good options are a tablet, a laptop or a Chromebook. All of these devices generally have a front-facing camera that is ideal for video calling (and indeed designed for it). As the screens are larger you will be able to see the other person (or people) more clearly. And group video calls with two or more other people (should you want to do this) are more feasible.

If you’re using a desktop computer it’s not quite as simple. In this case you will need to activate the built-in webcam or else buy a separate webcam (e.g. from Amazon). Standalone webcams normally plug in via a USB port. They may come with third-party software designed to help you control and make the most of them.

The other thing you will need is a video-calling app. There are lots you can use, but in this post I’ll focus on five of the most popular: Skype, FaceTime, WhatsApp, Messenger and Google Meet (previously Duo). All of these are free to download and use on wifi. If you are using them with a mobile data service they will eat up your allowance and you may end up paying extra, so it’s best to stick with wifi if at all possible.

There isn’t much difference in call quality in my experience, so it really comes down to personal preference which one you choose.

One other thing to note is that the person you are calling will need to use the same app as you are.

1. Skype

Video calls on smartphones? Yes

Video calls on tablets? Yes

Video calls on Windows? Yes

Video calls on a Mac? Yes

Skype was originally designed for making free voice calls over the internet, but then added video calls too. It’s seen as a little old-fashioned in some circles, and isn’t quite as easy to install and configure as some of its newer rivals. Nonetheless, it still works well, and you can use it for one-to-one or group calls.

If you have a modern smartphone or tablet it’s quite likely that Skype will be installed already, but otherwise you can download it from the Play Store (Android), Apple Store (Apple) or Skype website (PC or Mac). You will need to set up an account before you start using it, for which you will need to provide either your mobile number or your email address.

To make a Skype video call to a new contact, use the Search Skype box at the top left to search for the person’s real name, Skype name, or email address. If your friend has a common name, you may find there are a number of people to choose from in the list that pops up. Use the profile pictures to find the person you’re looking for, or click on the name to view their profile information. Anyone you talk to will automatically be added to your Skype contact list. Select your contact and click Call. With your audio call running, select the video camera icon to open the camera. During a call you can mute/unmute your microphone and switch your camera on/off by clicking on or tapping the appropriate icon.

Here is a link to a more in-depth article on making a video call with Skype.

2. WhatsApp

Video calls on smartphones? Yes

Video calls on tablets? No

Video calls on Windows? No

Video calls on a Mac? No

WhatsApp is owned by Facebook. It is primarily used for text chats and sharing photos and videos, but you can make video calls on it as well.

If you have a modern smartphone it’s quite likely WhatsApp will be installed already, but otherwise you will need to download it from the Play Store or Apple Store. To create an account, open the app and work through the set-up assistant. You will need to provide certain permissions to allow the app to access your camera and microphone and to import your existing phone contacts.

WhatsApp then works in a similar way to Skype. To place a video call, tap the contact you want to talk to, and tap the video camera icon next to their name. The other person can answer the call (swipe up the blue button), reject the call (swipe up the red phone button), or reject the call and send a text instead (swipe up the message button). If they answer, you’re good to go. You can toggle between the front and rear cameras on your phone by tapping on the appropriate icon if you wish.

Here is a link to a more in-depth article on making a video call with WhatsApp.

3. FaceTime

Video calls on smartphones? Yes – iPhones only

Video calls on tablets? Yes – iPads only

Video calls on Windows? No

Video calls on a Mac? Yes

FaceTime comes pre-installed on most Apple devices, so if you and the other person both have devices from Apple, it’s an easy option.

Making a call is (again) very simple. Just open the FaceTime app and tap the ‘+’ button, then type the phone number or email address of the person you want to call. Select audio (the microphone icon) or video (the camera icon) and you’re all set. If you have Apple’s voice assistant Siri you can also just say ‘Contact [Name]’. You can also tap ‘Recents’ to call people you have called recently and/or add your regular contacts to a Favourites list.

Here is a link to a more in-depth article on making a video call with FaceTime.

4. Messenger

Video calls on smartphones? Yes

Video calls on tablets? Yes

Video calls on Windows? Yes

Video calls on a Mac? Yes

Messenger is owned by Facebook but it is a separate app. If you don’t have it on your device already you will need to download it from the Play Store or Apple Store or via the website for PC or Mac.

To use Messenger you will need to have a Facebook account, but this does have the advantage that you won’t need to register the app separately and can start using it straight away. Messenger will automatically connect with all your Facebook friends.

To make a Messenger video call, tap the pencil icon at the top right of the app screen. Enter the name of whomever you want to contact and tap on their picture. You can then tap on the video camera icon to start a video call.

Here is a link to a more in-depth article on making a video call with Messenger (or Facebook).

5. Google Meet

Video calls on smartphones? Yes

Video calls on tablets? Yes

Video calls on Windows? Yes

Video calls on a Mac? Yes

Google Meet is a meetings app that also includes video calling. In 2022 it replaced Google Duo, Google’s dedicated video calling app.

No account or subscription is necessary to use Google Meet. Sign up with your mobile phone number and you’ll be able to reach the people in your phone’s contacts list. You can then start a video call with a single tap.

In addition, Google Meet is designed for speed and reliability. Call quality adjusts no matter what’s happening on your network, so you stay connected even when bandwidth is limited. It can also switch seamlessly between wifi and mobile data connections without dropping your call – so if you leave your home (or your wifi goes down) you can still use it. Of course, if you exceed your monthly data allowance you may end up paying extra, so it’s best to stick with wifi if at all possible. Finally, all calls include end-to-end encryption, thus protecting your privacy.

You can download Google Meet from the Play Store or Apple Store, or via the website for PC or Macs.

Here is a link to further information about making a video call using Google Meet.

Making Group Video Calls

All the apps above also allow you to make group calls. These can be great for connecting with multiple friends and/or family members. The number of contacts you can have in a call varies between apps. I have put details for the five services discussed in this post below.

Skype: Up to 100 contacts. In an ongoing conversation click the ‘+’ icon to add more contacts.

WhatsApp: Up to 32 contacts. In an ongoing call, select ‘Add Participant’.

FaceTime: Up to 32 contacts. During a FaceTime call, select ‘Add Person’.

Messenger: Up to 50 contacts. In an ongoing video call, tap on the ‘+’ icon.

Google Meet: Up to 100 contacts. Tap ‘Create group’, choose your contacts and tap ‘video call’. .

Note that video calling apps compete fiercely for dominance, so the maximum numbers set out above may increase.

Finally, you will probably have heard about the group video-calling app Zoom. This is really a meetings app for businesses, but in the last few years it has become very popular with younger people especially. You don’t need any special software to take part in a Zoom chat – just click on the link you receive by text or email and the Zoom (meeting) will open in a browser window.

Zoom is very easy to use, and its Gallery View in particular has made it very popular. You can have up to 100 participants on a free call (there are also paid options for larger meetings of up to 1000 people). Concerns have, however, been raised about some privacy/security issues. One other drawback is that the free version only allows you to chat for 40 minutes at a time, although you can then reconnect in a new chat if you wish. You can read more about Zoom here.

Using a Smart Speaker

Another increasingly popular option is to use a smart speaker with a video display, e.g. the Amazon Echo Show [affiliate link]. In fact both parties don’t even need an Echo Show device, as you can make and receive calls to an Echo Show using a smartphone.

To make a video call using the Echo Show, first ensure the person you want to speak to has the Alexa app set up on their mobile phone or also owns an Echo Show. Then say, ‘Alexa, video call [contact name].’ You may be asked to confirm details of the person you’re trying to reach. Then wait for the person to answer. If you can’t see yourself on the screen, check the camera shutter on your device isn’t closed, or the ‘camera off’ icon isn’t selected. All being well, you can then start chatting to your friend or relative. At the end of the call click the red hang-up button or say, ‘Alexa, end video call.’

For more detailed information about using an Echo Show to make a video call, click through to this useful article on the popular Tom’s Guide website.

I hope you have found this article helpful. As always, if you have any comments or questions about this post, please do leave them below.

Note: this is a fully revised update of an annual article.

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November 23, 2023

Important Change to ISA Rules in the 2023 Autumn Statement

Nick Investing events, benefits, Tax 4 Comments

As you will doubtless know, yesterday the Chancellor delivered his 2023 Autumn Statement. This included various economic measures, which you can read about on the Moneysaving Expert website (among other places).

I thought today I would highlight one particular change to the rules about tax-free ISAs (Individual Savings Accounts) which caught my eye. From April 2024, you will be allowed to open more than one of any particular type of ISA in a single tax year. This is a change I was particularly pleased to see, and have in fact been advocating on Pounds and Sense for some time.

As you may know, there are various types of ISA, including the stocks and shares ISA, cash ISA and IFISA. The latter stands for Innovative Finance ISA and allows people to save tax-free with peer-to-peer lending and similar platforms. Everyone has an annual tax-free ISA allowance, which currently stands at £20,000. Despite rumours to the contrary, this limit was not changed in the Autumn Statement.

So why do I think the change in the rules announced yesterday is so important? Well, for one thing, it brings about much greater flexibility in ISA transfers. Investors will now be able to transfer funds freely between different types of ISA without jeopardizing their tax-free status. They will also be able to transfer just part of a holding to a different provider, regardless of when they paid in the money.

This will empower investors to optimize their investment strategy by making it easy to move money between cash, stocks and shares, and Innovative Finance ISAs. This enhanced transfer flexibility should enable investors to adapt to changing market conditions, seize new opportunities, and align their portfolios with their evolving financial goals.

A further benefit of the rule change is that it will make it easier for investors to build a well-diversified portfolio. Rather than having to put all their money into just one stocks and shares ISA per year (for example) they can divide it among a range of providers. Regular readers will know that I am a big fan of diversifying your portfolio as much as possible to help manage risk, and this rule change certainly facilitates that.

The change will also make it easier for investors to try out new platforms with relatively small investments initially. Previously they may have been deterred from doing this by the realization that once they had committed to one particular provider, they would have to stick with that provider for the rest of the financial year. FOMO (fear of missing out) may even have inhibited some people from investing at all.

This is certainly something I’ve experienced myself. At the start of a new financial year, I was wary of investing in any type of ISA, because I knew that once I did so, I would then have to stick with that provider for that type of ISA for the rest of the financial year.

So those are just some reasons I particularly welcome this rule change. From a broader perspective, I think it will also encourage more people to start investing, which has to be good for UK PLC in general. Apart from a few admin costs, it seems to me this measure will cost the government nothing, while bringing major benefits to the economy and individual investors. Really, the only thing I don’t understand is why it wasn’t done sooner!

So those are my thoughts anyway. But what do you think? Will the new rule encourage you to make more use of ISAs in future? I’d be interested to hear any views.

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