June 3, 2024

My Investments Update – June 2024

Nick Investing reviews, property, events 0 Comments

Here is my latest monthly update about my investments. You can read my May 2024 Investments Update here if you like

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £23,744. Last month it stood at £23,502, so that is an increase of £242.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,808 (rounded up) compared with £3,760 a month ago, a rise of £48. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the screen capture below, this portfolio is now worth £766 (rounded up) compared with £755 last month, a small rise of £11.

As you can see from the charts, May was an up-and-down month for my Nutmeg investments. In the the middle of the month all my portfolios were up substantiaily, but since then they have fallen back a bit. Overall, however, I am still up by £301 over the month, so it could be worse! It’s also worth observing that their overall value has risen by £1,693 or 6.85% since the start of the year (not counting the £200 bonus I invested in my thematic portfolio in March).

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

You may like to note that, for various reasons I won’t go into here, I am no longer an affiliate for Nutmeg. That means you won’t find any affiliate links in my review (or anywhere else on PAS). And you will no longer see the no-fees-for-six-months offer I used to be able to promote as an affiliate. However, the better news is that you can still get six months free of any management fees by registering with Nutmeg via my Refer a Friend link. I will receive a gift voucher if you do this, which is duly appreciated 🙂

Don’t forget, also, that the new tax year began on 6 April 2024 and and you now have a whole new £20,000 tax-free ISA allowance for 2024/25. In a change to the rules, you can now open any number of ISAs with different providers in the same tax year, as long as you don’t exceed your overall £20,000 allowance. So opening a stocks and shares ISA with Nutmeg won’t prevent you from also opening one with another S&S ISA provider (should you so wish) later in the financial year.

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I withdrew £250 from my Kuflink account last month after a couple of loans were repaid. I currently have around £1,330 invested with them in 8 different projects paying interest rates averaging around 7%. I also have £20 remaining in my Kuflink cash account.

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

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

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to five years. Interest rates range from 7% to around 10%, depending on the length of term you choose. Full up-to-date details can be found on the Kuflink website.

You can invest tax-free in a Kuflink Auto IFISA. Or if you have already used your annual ISA 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 £184.78 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, 11 of ‘my’ properties are showing gains, 1 is breaking even, and the remaining 18 are showing losses. My portfolio is currently showing a net decrease in value of £31.44, meaning that overall (rental income minus capital value decrease) I am up by £153.34. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

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]. Note that as from this financial year (2024/25), you can open more than one IFISA per year.

In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,301.38 an overall increase of $279.12 or 27.30%.

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

eToro also offer the free eToro Money app. This allows you to deposit money to your eToro account without paying any currency conversion fees, saving you up to £5 for every £1,000 you deposit. You can also use the app to withdraw funds from your eToro account instantly to your bank account. I tried this myself and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here. Note that it can also serve as a cryptocurrency wallet, allowing you to send and receive crypto from any other wallet address in the world.

I had four more articles published in April on the excellent Mouthy Money website. The first is Earn Extra Money From Online Surveys. In this article I highlight how anyone can use this method to boost their bank balance for very little effort. I set out five well-established online survey sites I use myself to get you started.

Also in April Mouthy Money published my article How to Start a Business with a Franchise. In this I discussed the various attractions of starting a business with a franchise. And I shared some tips on choosing the best franchise for you and how to get the most out of it.

Also in Mouthy Money last month I revealed How to Track Down Old Investments and Bank Accounts using a platform called Gretel. Gretel is quick and easy to use, and free of charge for individuals (Gretel make their money from the banks and other financial institutions they work with). As well as using it for yourself, you can track down lost and missing assets for people you are associated with. Examples might include deceased persons where you are acting as executor, or people for whom you have financial power of attorney.

Finally, Mouthy Money published my article Should You Get Home Storage Batteries? In this I made the point that only a few years ago home storage batteries were very costly and hard for most people to justify. Times have changed, however, with the price of batteries falling while the cost of electricity has risen dramatically. So in this article I examined the case for purchasing a battery energy storage system (or BESS as it’s sometimes called). This applies principally if you have solar PV panels (or plan to get them) but may still be relevant to you even if you don’t.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. I am a particular fan of my fellow MM contributor and money blogger Shoestring Jane. She writes mainly about money saving and frugal living. Her latest article sets out various ways you may be able to Save Money in the Sunshine. Let’s hope we actually get some soon! You can see all of Jane’s articles for Mouthy Money via this web page.

I also published several posts on Pounds and Sense in May. In My Short Break on the Isle of Man I talked about my recent holiday on this lovely and under-appreciated island between England and Ireland. It’s less than an hour by plane from most UK airports, or you can get a ferry from Liverpool or Heysham. I went on a heritage-railway-themed break with Newmarket Travel, which I thoroughly enjoyed and recommend. Read the article for more details

Also in May I published Twenty Great Ways to Make Extra Money From Home. This is a fully revised and updated version of my original post of this title. As you will gather, it sets out twenty ways you may be able to make a few pounds extra every month to help boost your finances. None of these methods is likely to make you a fortune, but together they can certainly help keep your bank balance ticking over.

Finally, with an eye to the General Election on Thursday 4th July 2024, I published How to Apply for a Postal Vote. As Pounds and Sense is aimed primarily at over-fifties, I wanted to encourage my readers to apply for a postal vote if this might help them exercise their democratic right to vote. Having a postal vote means that if ill health, frailty or disability prevent you getting to a polling station, you still have the chance to express your political preference. Likewise, you won’t have to worry about obstacles such as bad weather or lack of transport to get to the polling station. There is still time to apply for a postal vote if you wish but you need to move smartly now. This article will tell you everything you need to know.

Also this year I became a regular contributor to Over 60s Discounts. You can read my latest article here: Set Sail for the Sun! Ten Tips for Older Cruisers. As you will gather, this is intended for older people (especially) who are considering going on a cruise – maybe for the first time – to help them get the most from it.

I highly recommend registering at Over 60s Discounts, by the way – they list a growing range of discounts and bonuses for older people, including some that are unique to O60D.

Next, a few odds and ends. One is that I recently invested some money (just over £1,000) in a Scottish wind farm project via a platform called Ripple Energy. The way this works is that you pay a one-off fee towards building the wind farm, and in exchange receive lower-cost, ‘green’ electricity once the wind farm is up and running. This will continue for the life of the wind farm (an estimated 20 years).

If you’re interested in learning more, you can visit the Ripple website via my referral link. If you then decide to invest yourself, you will get a £25 bonus credited to your account when generation starts (and so will I). Note that you will need to invest a minimum of £1,000 to qualify for the £25 bonus, but you can invest from as little as £25 if you like.

Also, I recently invested a small amount (£500) via a property loan investment platform called Crowdstacker. I have followed Crowdstacker for some time but never got around to investing with them. They are somewhat similar to Kuflink, but their minimum investment per project is lower (just £100) which makes building a diversified portfolio easier. In addition, rates of return are higher, typically 12% to 16%. Obviously higher returns are generally associated with higher risks, and it’s important to bear this in mind when investing – though as all loans are secured against property, you do have some protection. All investments are available in the form of a tax-free IFISA within your overall £20,000 annual ISA allowance.

Crowdstacker doesn’t have a referral programme as far as I know, so I am just sharing this info out of interest. If anyone has any questions or comments about Crowdstacker, feel free to leave them below as usual.

In addition, you might remember that a few weeks ago I published a post about a service called Gubbed. This is a no-cost, no-risk opportunity to make at least £1,000 (tax-free). I just need to mention that for operational reasons Gubbed have temporarily stopped taking on new clients. This will not affect existing clients (including several PAS readers), who will still receive their guaranteed minimum £1,000 payouts in due course. But for the time being I have removed any advertising for Gubbed from Pounds and Sense. I will of course let readers know via Facebook and Twitter/X (see below) when they reopen to new clients.

UPDATE 5 June 2024 – Gubbed have now reopened to new applications. Here’s a link to my blog post about this opportunity again.

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

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

Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss. Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!

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May 29, 2024

How to Apply for a Postal Vote

Nick Everything Else events 0 Comments

For better or worse, Britain will have a General Election on Thursday 4th July 2024.

I have seen several articles urging young people to register so they can cast their vote when the time comes. Of course, it is right that in any democracy as many eligible people as possible register and turn out to vote. However, it is just as essential that older people also have their say.

As Pounds and Sense is aimed primarily at over-fifties, I therefore wanted to take the opportunity to encourage you to apply now for a postal vote if this might help you exercise your democratic right to vote.

Having a postal vote means that if ill health, frailty or disability prevent you getting to a polling station, you still have the opportunity to express your political preference. Likewise, you won’t have to worry about obstacles such as bad weather or a lack of transport on the day to get to the polling station.

Any registered voter in the UK can apply for a postal vote. This includes:

British citizens living in the UK
British citizens living abroad (overseas voters)
Commonwealth and Irish citizens residing in the UK

In England, Scotland and Wales (though not Northern Ireland – see below) you will not normally have to give any reason for wanting a postal vote and one should be granted automatically if you apply.

I assume that most readers of this blog will have registered to vote in elections already, but if by chance you haven’t, here’s a link to the relevant website. You must register by 11:59 pm on Tuesday 18th June to vote in the General Election on 4th July.

How to Apply

To get a postal vote for the forthcoming election, you must apply before:

5 pm on Weds June 19th if you live in England, Scotland or Wales
5 pm on Fri June 14th if you live in Northern Ireland

In England, Scotland or Wales, you can obtain a postal vote application form from several sources:

In Northern Ireland, people wanting to vote by post have to fill out a form and send it to the electoral office in Belfast. These forms can be found online here.

The postal vote application form requires the following details:

Your personal details (name, address, date of birth).
Your address where the postal ballot should be sent.
The reason for requesting a postal vote if applicable. Voters in Northern Ireland are always required to give a reason when they apply.

Make sure to fill in all sections accurately to avoid delays or rejections.

Once completed, you must return the form to your local Electoral Registration Office. This can be done by post or hand delivery. It’s important to ensure the form arrives before the deadline, which is usually 11 working days before election day. Late applications will not be accepted.

Receiving and Returning Your Postal Vote

After your application is approved, you will receive your postal voting pack, which includes:

a ballot paper
instructions on how to complete your vote
a postal voting statement, which you must sign and provide your date of birth.
a return envelope

To cast your vote:

Mark your ballot paper according to the instructions.
Seal your ballot paper in the envelope provided.
Complete and sign the postal voting statement.
Place both the sealed ballot envelope and the signed statement in the return envelope.
Post your vote back as soon as possible to ensure it is received in time. It must reach the Electoral Registration Office by 10 pm on election day to be counted.

Tips for Postal Voting

Send your vote early to avoid postal delays and ensure your application is processed in time.
Double-check all details on your application and voting pack.
Follow the instructions carefully to ensure your vote is valid.
If you haven’t received your postal voting pack one week before the election, contact your local Electoral Registration Office immediately.

Be aware that if you have applied to vote by post, you cannot vote in person at a polling station. However, on election day you can return your postal vote to any polling station in your local authority area (before 10 pm) or to the Returning Officer at your local council (before they close) if you don’t want to post it or it’s too late to post it.

Closing Thoughts

The next government, whatever its political hue, will have to address a range of issues that are of great importance to older people. Prominent among these is the cost of long-term care (and who will bear it), but there are many other areas of concern, including pensions and benefits, the NHS, public transport, housing, law and order, immigration, the cost of living, national security and defence, and so on.

So it really is important to ensure that nothing prevents you casting your vote when the time comes. Registering for a postal vote is one way to ensure that ill-health, frailty or disability do not rob you of the opportunity to exercise your democratic right.

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

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May 23, 2024

My Short Break on the Isle of Man

Nick Everything Else events, reviews, travel 0 Comments

I recently returned from a four-night break on the Isle of Man. It was actually the first time I had ever visited the island, so it’s fair to say I was approaching it with fresh eyes!

For this break I went on a heritage-railway-themed holiday with Newmarket Holidays – here’s a link to the package I booked. I paid a single fee, discussed in more detail below. This included four nights half board in a four-star hotel in the island capital Douglas and my flights to and from the island from Birmingham Airport. The fee I paid also covered transfers from and to Ronaldsay Airport on the IOM and various other things, which I’ll discuss shortly.

For those who don’t know, the Isle of Man is in the Irish Sea, about half way between England and Ireland. It is 32 miles long and – at its widest point – 14 miles across. It covers a total area of around 221 square miles, That makes it nearly five times bigger than Jersey, the largest of the Channel Islands. It is a self-governing British Crown dependency. You can read more about the Isle of Man in this Wikipedia article.

Here is a map of the island from Google Maps…

Flights

As mentioned I flew to the Isle of Man from Birmingham, getting a taxi to and from the airport.

I’d have to say my experience at Birmingham Airport on the outward journey was poor. A lot of building work was going on to install new luggage scanners. As a result the usual queuing areas and escalators were unavailable and passengers had to queue for ages, first to get into lifts to the departures area and then to get through security. I spent almost two hours queuing and by the time I was through it was the final call for my flight. So I then had a mad dash to get to the gate in time. Thankfully I just made it; I’m sure others weren’t as lucky.

The flights were with Scottish airline LoganAir and were actually very good. The isle of Man only attracts relatively small numbers of visitors, so they use small planes and boarding is quick and easy. I was also impressed to be offered free refreshments on both the outward and return flights (something I haven’t experienced on a holiday flight for many years). It took around 50 minutes to get from Birmingham to the IOM, so that was quick and easy too. Of course, if you don’t like flying, you also have the option of going to the island by ferry from Liverpool or Heysham.

I should mention that the return flight back to Birmingham was easy in comparison. Because it’s regarded as a domestic destination, passengers returning to the UK from the IOM don’t have to go through security or passport control. I was out of the airport no more than 15 minutes after landing.

Accommodation

I stayed in a four-star hotel called The Mannin in Douglas. The hotel is just off the main promenade and several other Newmarket Holidays guests were staying there as well.

The hotel room had all the amenities needed for a short stay, including a comfortable double bed, a flat-screen TV, a fridge and electric kettle, and plenty of drawer and wardrobe space. It had an en-suite bathroom with a modern power shower that worked well, with plenty of hot water.

One thing the room didn’t have was a window to the outside world. It had a window leading out to a small balcony, but this was actually within the hotel, overlooking the bar and restaurant area. You may not be surprised to hear that I didn’t use this during my stay 😏

As mentioned, I was staying half-board. Breakfasts were buffet-style and included everything you’d expect, including cooked items such as bacon, sausages, tomatoes, mushrooms and fried or poached eggs (no scrambled, though). I was pleased to discover that the evening meals included my choice of starter, main meal and dessert, with even the most expensive items such as steak at no extra cost. My one slight reservation was that, barring the soup and fish of the day, the menu was the same every night . If I had been staying any longer I might have found this a bit limited. That’s only a very small criticism, though.

Financials

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

I paid a total of £1,305 (including VAT) for my four-night visit. That might sound a lot, but as mentioned it included my flights to and from the island, coach transfers, and most meals, along with various other services and amenities. I stayed in a double room with single occupancy, so obviously paid a bit more than a couple would have (pro rata). And finally, I was in a premium four-star hotel. Some other guests were in three-star hotels which I guess would have been a bit cheaper. As a matter of interest, I had to choose the Mannin as it was the only option offered to me when I booked with Newmarket. I guess all the cheaper accommodation had been snapped up already!

The price I paid also included the services of a tour guide, Trevor. He was a local man (from Peel) and extremely knowledgeable about the island. He looked after us very well and even sprang into action when I couldn’t get the top off an ice-cream tub I had bought 🍦😅 Each morning we were picked up by a double-decker bus with Trevor on board. This took us to whatever destination we were visiting first that day (typically a railway station).

Also included in the cost were Isle of Man ‘Go Explore Heritage Cards’. These provided free admission to all the main tourist attractions and also covered travel on the island’s trains and buses. As a result, I actually spent very little extra money during my break – just the odd bit for refreshments during the day and any souvenirs I chose to pick up.

Things To Do

I won’t give you a blow-by-blow account of everything I did on my visit – you can see the full itinerary on the Newmarket Holidays page if you like. I will share some highlights and personal recommendations, though.

1. Douglas: The Capital

This is where I stayed. It is a vibrant, bustling place, with an attractive beach and picturesque promenade you can stroll along. In Douglas you can find the Manx Museum to delve into the island’s history. You can also enjoy a night at the Gaiety Theatre, a beautifully restored Victorian venue offering a variety of performances.

2. Castletown and Castle Rushen

Castletown is the ancient capital of the Isle of Man. Castle Rushen (photo below), one of Europe’s best-preserved medieval castles, is here with its impressive structure and exhibits detailing the island’s past. Also in Castletown you can see the Old House of Keys, the island’s original legislative centre. The trip I was on included admission to the Old House of Keys and an entertaining hour-long interactive presentation there about the island’s history. You would have to book this in advance if not travelling with an organised group.

3. Peel and Peel Castle

The town of Peel is on the island’s west coast and well worth a visit. You can explore the atmospheric ruins of Peel Castle (photo below), and enjoy fresh seafood at one of the local eateries. The House of Manannan museum provides an immersive experience into the island’s Celtic, Viking, and maritime history. You could easily spend a full day here!

4. The TT Mountain Course

For motorsport enthusiasts, the Isle of Man TT (Tourist Trophy) races are legendary. Even outside of race season, you can drive or cycle the 37.73-mile TT Mountain Course, taking in spectacular views and imagining the thrill of the races.

5. Laxey Wheel and Snaefell

The Great Laxey Wheel (see cover image), also known as Lady Isabella, is the largest working waterwheel in the world. If you’re brave (and fit) enough you can go up the spiral steps to a viewing platform at the top. Nearby, the Snaefell Mountain Railway takes you to the island’s highest point. On a clear day it’s said you can see seven kingdoms from here: England, Ireland, Scotland, Wales, the Isle of Man itself, and the kingdoms of Heaven (the sky) and Neptune (the sea). On a more prosaic note, at the top is a nice cafe where you can buy excellent coffee and home-made cake 🍰

6. Isle of Man Steam Railway and Manx Electric Railway

I was on a railway-themed holiday, so naturally this included trips on both of these. The steam railway (photo above) runs through beautiful countryside from Douglas to Port Erin at the southern tip of the island. You get some lovely views of the coast along the way.

The Manx Electric Railway (photo below) also runs from Douglas but in the opposite direction, towards Laxey and then on to Ramsey. The Manx Electric Railway has two carriages, one covered and one open to the elements (referred to colloquially as The Toast Rack!). I went on both during my stay. You get better views from the open carriage but it can be a bit chilly, so remember to wrap up well!

Quick Tips

Here are a few tips for first-time visitors to the Isle of Man based on my own experience and other information gleaned…

1. Plan for the Weather

The Isle of Man has a maritime climate, meaning weather can be unpredictable. It’s advisable to pack layers and waterproofs to stay comfortable regardless of the conditions. That being said, I was extremely lucky on my trip and enjoyed wall-to-wall sunshine.

2. Embrace the Outdoors

With its stunning landscapes, the island is perfect for outdoor activities. Walk a segment of the Raad ny Foillan (Way of the Gull) coastal path, explore glens and waterfalls, or enjoy cycling and bird-watching.

3. Sample Local Delicacies

Don’t miss out on trying Manx kippers, queenies (small scallops), and the island’s renowned ice cream. Local pubs and restaurants often feature these and other regional specialties.

4. Respect Local Traditions

The Isle of Man has a unique culture and traditions, including its own language, Manx Gaelic. You might hear locals using expressions like “Failt Erriu” (Welcome) and it’s appreciated if you can master one or two phrases like this. There are also various superstitions on the island. One of the first I discovered concerned the fairy bridge (quite near the airport). The tour guide told us we must all say “Hello, fairies” as our coach passed over this or bad luck might befall us. Needless to say, everyone complied!

5. Use Contactless Payments

Most places accept contactless payments, but it’s wise to have some cash on hand for smaller vendors and rural areas. Note that if paying by cash you may receive change in Manx notes and coins which are not generally accepted outside the Isle of Man. UK banks will usually exchange Manx banknotes but not coins, so if you get any in your change you will have to keep them as souvenirs, donate them, or hold on to them for your next visit. You can ask retailers if they have UK money available as change, but that is not guaranteed 🙂

Closing Thoughts

As you may gather I enjoyed my holiday on the Isle of Man and am happy to recommend both the island itself and the Newmarket Holidays tour I went on.

The Isle of Man is verdant and charming, with a long and interesting history. Obviously the heritage railways are a particular attraction (for me at any rate!), but so too are the castles at Peel and Castletown and the Great Wheel at Laxey (a beautiful village with a range of other tourist attractions as well). But it’s also a wonderful place to be out walking or cycling, with quiet roads (outside the TT races obviously) and a dramatic and unspoiled coastline. I would definitely like to return there before too long.

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

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May 2, 2024

My Investments Update – May 2024

Nick Investing events, reviews 1 Comment

Here is my latest monthly update about my investments. You can read my April 2024 Investments Update here if you like

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £23,502. Last month it stood at £23,859, so that is a fall of £357.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,760 (rounded up) compared with £3,781 a month ago, a fall of £21. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the screen capture below, this portfolio is now worth £755 compared with £759 last month, a small decrease of £4.

It’s obviously a little disappointing that the value of my Nutmeg investments has fallen a bit this month. This is entirely to be expected with investments, however, where ups and downs are the norm. It’s also worth observing that their overall value has risen by £1,392 or 5.29% since the start of the year (not counting the £200 bonus I invested in my thematic portfolio in March).

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

Don’t forget, the new tax year began on 6 April 2024 and and you now have a whole new £20,000 tax-free ISA allowance for 2024/25!

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

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

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

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to five years. Interest rates range from 7% to around 10%, depending on the length of term you choose. Full up-to-date details can be found on the Kuflink website.

You can invest tax-free in a Kuflink Auto IFISA. Or if you have already used your annual ISA 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 £179.53 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 10 of ‘my’ properties are showing gains, 3 are breaking even, and the remaining 16 are showing losses. My portfolio is currently showing a net decrease in value of £38.96, meaning that overall (rental income minus capital value decrease) I am up by £140.57. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

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

In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,275.17, an overall increase of $252.91 or 24.74%.

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

eToro also offer the free eToro Money app. This allows you to deposit money to your eToro account without paying any currency conversion fees, saving you up to £5 for every £1,000 you deposit. You can also use the app to withdraw funds from your eToro account instantly to your bank account. I tried this myself and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here. Note that it can also serve as a cryptocurrency wallet, allowing you to send and receive crypto from any other wallet address in the world.

I had two more articles published in April on the excellent Mouthy Money website. The first is What Is Thematic Investing and Is It For You? In this article I looked at the pros and cons of thematic investing. My editor at Mouthy Money edited the article to remove the specific examples I gave, in case this was construed as personal financial advice. As a consequence the published article is a bit shorter and vaguer than I intended! However, readers of PAS will know that I have thematic investments with Nutmeg and eToro. So far – as mentioned earlier – both have been doing well, but of course there are no guarantees this will continue in future. Thematic investing isn’t for everyone, so take a look at this article, read about the pros and cons, and see if you think it might have a place in your portfolio.

Also in April Mouthy Money published How to Avoid Becoming a Telephone Scam Victim. In this article I set out some tips and advice to avoid falling victim to phone scams. As with online scams, which I discussed in another recent article on Mouthy Money, telephone scams have become an unfortunate reality of daily life in the UK. It’s important to be aware of the risk, and to ensure that any elderly friends and relatives who might be particularly vulnerable don’t fall for them.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. I am a particular fan of my fellow MM contributor and money blogger Shoestring Jane. She writes mainly about money saving and frugal living. Her latest article Eight Ways to be More Mindful With Your Money sets out various ways you may be able to save money relatively painlessly by adopting a more frugal mindset. You can see all of Jane’s articles for Mouthy Money via this web page.

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

In Why Now Could Be the Ideal Time to Take Advantage of Your New Tax-Free ISA Allowance I pointed out that (other things being equal) the start of a new tax year is the perfect time to invest in a new ISA. The main reason for this is that the sooner you invest, the more time there is for the power of compounding to start working. There are other good reasons as well for investing now – read the article for more details 🙂

I also published two sponsored guest posts in April. Sponsored posts help pay my bills, but I only accept those that I feel offer genuine value and interest to PAS readers.

Six Tips for Getting Free Stuff Without Dealing With Scams has some good tips for getting valuable freebies online without opening yourself up to a torrent of spam. And Seven Top Money-Saving Websites for Freebies sets out seven websites where you can apply for (genuine) freebies. Understandably my sponsors didn’t want me to link to all the sites as well as the one they were actually promoting, but you should find them easily enough with a little help from Google.

Finally, I posted My Review of the Simba Hybrid Mattress Topper. This is obviously another sponsored post, although in this case I received a free item to review rather than being paid for it. As you will see, this offer came at an opportune time for me. I was genuinely impressed with the Simba Hybrid Mattress Topper, even though it took a bit of effort to get it up the stairs and onto my bed!

Also this year I became a regular contributor to the Over 60s Discounts website. You can read my latest article here: Could You Claim Attendance Allowance? As you will gather, this is all about this invaluable benefit for older people with care needs. It’s estimated that over three million people are eligible for this benefit but not claiming it. Read this article to discover if it’s something you – or an elderly friend/relative – would be qualified to apply for.

I highly recommend registering at Over 60s Discounts, by the way – they list a growing range of discounts and bonuses for older people, including some that are unique to O60D.

Also in April I enjoyed a short break on the beautiful Isle of Man (see cover image). It was the first time I had visited the island, and in fact the first time I had been anywhere by plane since Covid.

I had a great time, with wall-to-wall sunshine until my last day when I was going home anyway. It was a heritage-railway-themed holiday, so I got to ride on the island’s steam and electric trains, and also travelled on buses between towns not served by the railways. The trip was arranged by Newmarket Holidays, and I do recommend this if you are new to the IOM and want a well-organised introductory tour covering all the main places of interest (with a heritage-railway bias, obviously). I will aim to post a fuller review of my Isle of Man holiday on PAS soon.

The one downside to the trip was the chaos on my outward journey from Birmingham Airport. There is loads of building work going on there and, coupled with an apparent shortage of staff, this caused massive queues and delays. Although I arrived before the check-in opened, it took me almost two hours to get through security. By then it was the final call for boarding, so I had to do a mad dash to the gate to avoid missing my flight. There are posters up at the airport saying that all this work will result in a better experience for passengers, but I’ll believe that when I see it. Currently I don’t recommend flying from Birmingham if you can possibly avoid it.

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

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

The cover photo, taken by me, shows an Isle of Man Steam Railway train arriving at Port Erin station.

Disclaimer: I am not a qualified financial adviser and nothing in this blog post should be construed as personal financial advice. Everyone should do their own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss. Note also that posts on PAS may include affiliate links. If you click through and perform a qualifying transaction, I may receive a commission for introducing you. This will not affect the product or service you receive or the terms you are offered, but it does help support me in publishing PAS and paying my bills. Thank you!

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

April 7, 2024

Why Now Could Be the Ideal Time to Take Advantage of Your New Tax-Free ISA Allowance

Nick Investing events, Tax 0 Comments

As from 6 April 2024, UK investors have a fresh chance to supercharge their savings and investments with a new £20,000 Individual Savings Account (ISA) allowance.

ISAs represent a golden opportunity for investors to make their money work harder while shielding their returns from the taxman. With tax-free thresholds for dividend tax and capital gains tax being slashed by Chancellor Jeremy Hunt, it’s more important than ever to protect your hard-earned savings and investments within an ISA wrapper.

To maximize the benefits of the new 2024/25 allowance, there’s a strong case for acting swiftly and using at least part of your £20,000 ISA allowance sooner rather than later. This is due to the power of compounding. By investing early, you give your money more time to grow, benefiting from the potential snowball effect of returns generating further returns. So the sooner you invest that £20,000 (assuming you are fortunate enough to have it) the more opportunity it has to multiply over time.

But the good news doesn’t end there. In addition to the ISA allowance remaining at a relatively generous £20,000, the rules surrounding ISAs have undergone a welcome relaxation from this tax year onward. One of the most significant changes is the ability to open more than one ISA of the same type (e.g. a stocks and shares ISA) with different providers in the same tax year. This means investors are no longer limited to a single provider for each type of ISA, giving them greater flexibility and choice in managing their investments.

Previously, investors were restricted to opening one cash ISA, one stocks and shares ISA and one innovative finance ISA (IFISA) per tax year. This restriction could prove frustrating for those seeking to diversify their investments or take advantage of new opportunities as the tax year progressed. Now, with the freedom to open multiple ISAs of the same type, investors can shop around for the best rates, terms, and investment options without being limited to a single provider for each ISA type. They can also move some or all of their money from one provider to another without jeopardising its tax-free status.

It’s important to note, however, that while the rules have been relaxed, the overall annual ISA allowance remains fixed at £20,000. This means that any contributions made across multiple ISAs of any type will count towards your total allowance for the tax year. You should still therefore take care not to exceed the annual limit to avoid any potential tax charges.

Cash ISAs offer a secure and accessible way to save, providing a tax-free environment for your savings with the added benefit of easy access to your funds when needed. Meanwhile, stocks and shares ISAs open the door to potential higher returns by investing in a wide range of assets such as equities, bonds, and funds, albeit with a higher level of risk. With a stocks and shares ISA you will never incur any liability for dividend tax, capital gains tax or income tax, even if your investments perform exceptionally well. Of course, there is no guarantee this will happen, but over a longer period stock market investments have typically outperformed cash savings, often by a substantial margin. IFISAs (e.g. from Assetz Exchange) allow you to invest is property crowdfunding and other forms of peer-to-peer finance. They are more specialized, but may appeal to some investors looking to further diversify their portfolios.

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

Closing Thoughts

In light of the new 2024/25 ISA allowance and relaxation of the rules surrounding them, now is the perfect time for UK investors to review their savings and investment strategies. Whether you’re looking to kickstart a new ISA or maximize your contributions to existing accounts, taking action early can set you on the path to optimizing your returns from this important tax-saving opportunity. By investing sooner rather than later and taking advantage of the increased flexibility in ISA provider options, savers can make the most of their money while minimizing their tax liabilities. So seize this opportunity to build your wealth and protect it from the taxman today!

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

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

Cartoon image by courtesy of Bing AI.

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

April 3, 2024

My Investments Update – April 2024

Nick Investing events, reviews 0 Comments

Here is my latest monthly update about my investments. You can read my March 2024 Investments Update here if you like

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £23,859. Last month it stood at £22,994 so that is a welcome increase of £865.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,781 compared with £3,640 a month ago, a rise of £141. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). As you can see from the screen capture below, this is now worth £759 compared with £530 last month, an increase of £229 since last month.

I should though say that £200 of this is ‘new money’. This came from a ‘Refer a Friend’ bonus, which I decided to pay into this pot rather than withdrawing. So if you disregard that, this portfolio has actually risen in value by £29 since last month.

March was obviously another good month for my Nutmeg investments. Overall – and disregarding the £200 RAF bonus – I was up £1,035 or 3.55%. And since the start of the year (again disregarding the £200 RAF bonus in March) I am up by £1,882 or 7.15%. In these turbulent times I am more than happy with that.

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

Don’t forget, the current tax year ends on 5 April 2024 and after that the 2023/24 tax-free ISA allowance of £20,000 will be gone forever. But the good news is that you will then have a whole new £20,000 ISA allowance for 2024/25!

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

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

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

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to five years. Interest rates range from 7% to around 10%, depending on the length of term you choose. Full up-to-date details can be found on the Kuflink website.

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

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

Since I opened my account, my AE portfolio has generated a respectable £173.90 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, 8 of ‘my’ properties are showing gains, 7 are breaking even, and the remaining 14 are showing losses. My portfolio is currently showing a net decrease in value of £35.05, meaning that overall (rental income minus capital value decrease) I am up by £138.85. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

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

In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,303.49, an overall increase of $281.23 or 27.51%.

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

eToro also offer the free eToro Money app. This allows you to deposit money to your eToro account without paying any currency conversion fees, saving you up to £5 for every £1,000 you deposit. You can also use the app to withdraw funds from your eToro account instantly to your bank account. I tried this myself and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here. Note that it can also serve as a cryptocurrency wallet, allowing you to send and receive crypto from any other wallet address in the world.

I had two more articles published in March on the excellent Mouthy Money website. The first is Saving versus Investing – What’s the Difference and Why You Should Do Both. People often get confused between saving and investing, and it doesn’t help that the words are sometimes used loosely and interchangeably. In reality, though, there is a clear difference between them. In this article I explain why saving should always be your first priority, but ideally you should do both.

Also in March Mouthy Money published my article Are Solar Panels Still Worthwhile? As you probably know, solar PV panels generate electricity from sunlight. Growing numbers of homeowners (me included) have them on their roofs. At one time solar panels came with generous payment tariffs known as FiTs (feed-in tariffs), but those days are long gone. So in this article I examine what incentives exist today for installing panels and whether the sums still add up. I also look at the other pros and cons of solar panels.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. I am a particular fan of my fellow MM contributor and money blogger Shoestring Jane. She writes mainly about money saving and frugal living. Her latest article Save Money on Gifts Throughout the Year sets out some top tips for saving money on gifts without (of course!) being a skinflint. You can see all of Jane’s articles for Mouthy Money via this web page.

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

One was a reminder that the Trading 212 welcome offer has reopened. If you haven’t done this before, you can get a free share worth up to £100. As I said in the article, my free share in AMD is now worth £151.88! This offer closes on 16 April 2024.

Also in March I published Don’t Miss Out! Use Your £20,000 ISA Allowance Before It’s Too Late. This was a reminder to use your 2023/24 allowance before it vanishes on 6th April 2024. Obviously you will need to move very smartly if you are going to do this now. But (as I said earlier) the good news is that everyone will have a fresh £20,000 allowance from that date.

Another bit of good news is that as from 2024/25, ISAs will become more flexible and you can invest in more than one of each type in the same tax year. Check out my post about the ISA rule changes in 2024/25 here.

Also this year I became a regular contributor to the Over 60s Discounts website. You can read my latest article here: Grand Adventures on a Budget – How to Save Money on Days Out With Your Grandchildren. I highly recommend registering at Over 60s Discounts, by the way – they list a growing range of discounts and bonuses for older people, including some that are unique to O60D.

One other bit of news this month is that I finally got around to buying a home storage battery to connect to my solar panels (see my recent MM article about panels). I used a local (Staffordshire) company called The Energy Box for this, and am very happy to recommend them.

I’ve had my battery for just over a fortnight now and it’s been quite eye-opening. Using the battery app I can see how much electricity my solar panels are generating at any time and how much I am using in my home. I can also check the battery charge level and whether it’s charging or discharging. Even at this time of year, if there’s a bit of sunshine I am generating enough electricity in the day to cover my needs and charge the battery to a level where I’m running the house from it till well into the evening.

In the summer I’d expect to be generating enough to live off solar-generated power entirely, meaning there will only be the dreaded standing charge to pay. So I will actually be saving more money than I originally anticipated, though admittedly it will still be a number of years before the cost is covered.

It wasn’t just a financial decision, though. My other aim was to be able to continue as normal in the event of power cuts (which I expect to become more frequent in coming years as the UK transitions away from fossil fuels), and that should be the case too. The only issue might be a power cut in the depths of winter when the battery hasn’t charged up from the panels. Even so, if I know (or suspect) a cut is coming I can charge the battery in advance from the mains.

I’ve written an article going into more detail about home storage batteries (including my own) for my regular clients at Mouthy Money. This will be published in April, so keep an eye out for it!

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

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

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

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

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

March 4, 2024

My Investments Update March 2024

Nick Investing, Everything Else reviews, property, events 0 Comments

Here is my latest monthly update about my investments. You can read my February 2024 Investments Update here if you like

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

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

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

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

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

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

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

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

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

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

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to five years. Interest rates range from 7% to around 10%, depending on the length of term you choose. Full up-to-date details can be found on the Kuflink website.

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

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

Since I opened my account, my AE portfolio has generated a respectable £168.53 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 10 of ‘my’ properties are showing gains, 4 are breaking even, and the remaining 15 are showing losses. My portfolio is currently showing a net decrease in value of £40.01, meaning that overall (rental income minus capital value decrease) I am up by £128.52. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

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

In 2022 I set up an account with investment and trading platform eToro, using their popular ‘copy trader’ facility. I chose to invest $500 (then about £412) copying an experienced eToro trader called Aukie2008 (real name Mike Moest).

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,238.51, an overall increase of $216.25 or 21.15%.

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

eToro also offer the free eToro Money app. This allows you to deposit money to your eToro account without paying any currency conversion fees, saving you up to £5 for every £1,000 you deposit. You can also use the app to withdraw funds from your eToro account instantly to your bank account. I tried this myself and was impressed with how quickly and seamlessly it worked. You can read my blog post about eToro Money here. Note that it can also serve as a cryptocurrency wallet, allowing you to send and receive crypto from any other wallet address in the world.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

March 3, 2024

Mother’s Day 2024 Giveaway and Gift Guide

Nick Everything Else events, competitions, families 0 Comments

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

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

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

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

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

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

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

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

Meet the Bloggers

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

The Prizes

Art File Jungle Animals 1000 Piece Jigsaw Puzzle from Gibsons Games

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

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

Liquid Silk Perfect Cleansing Oil (100ml) from DJUSIE

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

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

Pure Shea Butter (180ml) from Aviela

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

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

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

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

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

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

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

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

£50 Amazon Voucher from Make Money Without A Job

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

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

How to Enter

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

a Rafflecopter giveaway

Terms and Conditions of the Giveaway

UK entries only.
The giveaway will run from 8 pm 3rd March 2024 to 8 pm 10th March 2024.
The winners will be notified by email from rowena@mybalancingact.co.uk
The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, X, YouTube, BlogLovin or Pinterest or any other social media platform.
Prize open to over 18s only. Age verification may be required to receive some prizes.
Some or all of the prizes may take a few weeks to arrive.
If any prizes are out of stock then we will do our best to find a suitable replacement but cannot guarantee it.
Anyone who unfollows before the giveaway ends or doesn’t complete the required entry action will be disqualified.
The prize is non-transferable, non-refundable and cannot be exchanged for monetary value.
We may be using a parcel service or Royal Mail for some of the prizes and their standard compensation will apply in the event of loss or damage.
Some items may be sent directly by the supplier and we do not have responsibility if these go missing and we cannot replace these.
In the unlikely event one of the companies withdraws a prize, we cannot offer an alternative.
The winner’s name will be stated on some or all of our bloggers’ websites and announced on Twitter and other social media channels. It will also be displayed on the Rafflecopter entry form. By entering this prize draw, you give your permission for this.
Please note the winner may have the same name as you so if you see your name displayed, be aware that you are not the winner unless you have been notified by us.
There may be some delays in receiving prizes.

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

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

February 3, 2024

My Investments Update – February 2024

Nick Investing events 1 Comment

Here is my latest monthly update about my investments. You can read my January 2024 Investments Update here if you like

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

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

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

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

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

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

I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. Last month I withdrew £350 from completed projects to help pay for a much-needed holiday in the spring. I currently have around £1,570 invested with them in 10 different projects paying interest rates averaging around 7%. I also have £14 in my Kuflink cash account.

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

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

One possible way around this is to invest using Kuflink’s Auto/IFISA facility. Your money here is automatically invested across a basket of loans over a period from one to three years. Interest rates normally range from around 7% for one year to 9.83% gross for a three-year term.

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

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

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

Since I opened my account, my AE portfolio has generated a respectable £161.85 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 6 of ‘my’ properties are showing gains, 3 are breaking even, and the remaining 19 are showing losses. My portfolio is currently showing a net decrease in value of £40.87, meaning that overall (rental income minus capital value decrease) I am up by £120.98. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

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

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,209.37, an overall increase of $187.11 or 18.30%.

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

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

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

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

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

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

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

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

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

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

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

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

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

Also, from January I have become a regular contributor to the new Over 60s Discounts website. You can read my first article here: How to Cope With Loneliness in Later Life. As you may gather, as well as personal finance I will also be writing about ‘lifestyle’ matters for O60D.

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

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

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

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

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

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

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

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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