My guest post today concerns a subject none of us wants to think about, but one that can have huge financial (and other) ramifications, especially if not handled well.
Traditionally divorce lawyers see a peak in enquiries in January. Indeed, the first Monday in January is sometimes known as ‘Divorce Day’. This uptick may be partly to do with people putting off taking action till after the festive season is over. Nevertheless, divorce is undoubtedly a matter on the minds of many people at this time of year.
If – sadly – you find yourself in this position, my guest today, Simon Bassett, head of the family team at RWK Goodman, has put together some Dos and Don’ts to help ensure the process goes as smoothly as possible for you.
Over to Simon, then…
Dos and Don’ts for Divorce in 2025
Dos
Focus on your long-term goal – your happiness and the children’s happiness.
Build a support network – divorce can be a daunting process so build a support network of trusted family members and friends and consider using a therapist or divorce coach – we find that our clients who have good support make better decisions and are less likely to procrastinate.
Choose your solicitor carefully – like any working relationship, you need find someone you can work with and build a rapport with. Seek recommendations from friends and colleagues and if the fit doesn’t feel right, find another.
Try and keep the divorce amicable and out of court by using non-court methods such as mediation. Not only will this be better for your children and your own emotional health, it will also save you money in legal fees and speed up the process.
Sort out your paperwork – if you have your finances in order, e.g. details of all your expenditure, income and pensions, this will save you masses in divorce fees.
Be grateful for what you had – the end of a relationship should not be viewed as a failure. Some relationships simply run their course, so be grateful for what you had, e.g. there were many years of good times, and what the marriage produced, the children.
Don’ts
If you are certain your marriage has come to an end, don’t delay taking action. Things may get messy, but they will get better!
Look back and obsess about what went wrong.
Compare your divorce to other people’s – every divorce is different.
Don’t ignore your solicitor – if they recommend something, it will be based on many years’ experience and the advice will be specific to you and designed to achieve the best possible outcome.
Don’t email your solicitor every time you have a heated exchange with your ex!
Don’t be greedy – the courts take a very dim view of people who exaggerate what they may need post-divorce.
No matter how tiresome your ex is, don’t ever be negative about him/her in front of the children. Remember that you are your children’s role model.
Simon Bassett is the head of the family team at RWK Goodman and has over 30 years’ experience advising clients on divorce and other family law issues.
Many thanks to Simon for his valuable advice. Although I’ve not been in this situation myself, I have friends and relatives who have. From what I have seen, the process is far less stressful for all concerned if matters can be conducted in a civilized – and even amicable – way.
You can contact Simon and his colleagues at RWK Goodman via their website. They have offices in London, Bath, Oxford, Swindon, Bristol, Marlborough and Thame.
As always, if you have any comments or queries about this post, please do leave them below.
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Right now – as you can see on the official UKHSA website – flu and other respiratory viruses (though not Covid) are soaring.
Of course, winter often brings a surge in colds, flu and other seasonal illnesses. But while not unexpected, these infections can be a nuisance at least. And – in the case of older people especially – they can sometimes be life-threatening.
While a balanced diet, regular exercise and adequate sleep remain the cornerstones of good health, certain supplements can provide an extra layer of protection. Here’s a guide to the best supplements to support your immune system during the colder months.
1. Vitamin D
Why it’s essential: With limited sunlight during UK winters, many people experience a drop in their vitamin D levels. This nutrient plays a crucial role in immune function and helps reduce the risk of respiratory infections.
How to take it: Public Health England recommends everyone consider a daily supplement of 10 micrograms (400 IU) of vitamin D during the autumn and winter months. Higher doses may be necessary for those with deficiencies, but consult a healthcare professional first.
2. Vitamin C
Why it’s essential: Vitamin C is known for its immune-boosting properties and its ability to reduce the duration and severity of colds. It’s also a powerful antioxidant that helps protect cells from damage.
How to take it: A daily dose of 500–1,000 mg is generally safe for most people. You can also pair supplementation with dietary sources like oranges, kiwi fruit and bell peppers.
3. Zinc
Why it’s essential: Zinc is vital for immune cell function and has been shown to shorten the duration of cold symptoms when taken early. It also helps your body fight off viruses more effectively.
How to take it: Lozenges containing 10–15 mg of zinc can be taken at the onset of a cold. Long-term supplementation should not exceed 25 mg daily unless advised by a healthcare professional.
4. Probiotics
Why it’s essential: A healthy gut microbiome supports immune function, and probiotics help maintain this balance. Some strains, like Lactobacillus and Bifidobacterium, are particularly effective in reducing the risk of upper respiratory tract infections.
How to take it: Look for a high-quality probiotic supplement with at least 1 billion CFUs (colony-forming units). Yogurt and fermented foods like kimchi and sauerkraut can also be excellent natural sources.
5. Elderberry Extract
Why it’s essential: Elderberries have been traditionally used to fight colds and flu. They are rich in antioxidants and may reduce the severity and duration of symptoms.
How to take it: Elderberry syrup or capsules are common forms. Follow the recommended dosage on the product label, and avoid taking it if you have an autoimmune condition without consulting a doctor.
6. Echinacea
Why it’s essential: Echinacea is a popular herbal remedy that may help prevent and reduce the severity of colds by boosting immune activity.
How to take it: Look for standardised extracts and follow the manufacturer’s dosage guidelines. Echinacea is best taken at the first sign of illness.
7. Omega-3 Fatty Acids
Why it’s essential: Omega-3s, particularly EPA and DHA found in fish oil, have anti-inflammatory properties that support immune function and overall health.
How to take it: Aim for 250–500 mg of combined EPA and DHA daily. Vegetarian or vegan options include algae-based supplements.
8. Garlic Supplements
Why it’s essential: Garlic contains allicin, a compound with antimicrobial and immune-boosting properties. Regular garlic intake has been associated with fewer colds and flu.
How to take it: Opt for aged garlic extract supplements or incorporate fresh garlic into your diet for the best benefits.
Final Tips
Consult a GP or pharmacist: Always check with a healthcare professional before starting new supplements, especially if you’re pregnant, nursing or on medication.
Choose quality brands: Look for products that are third-party tested for purity and potency. A wide range of supplements and vitamins is available from Amazon.
Maintain healthy habits: Supplements work best when combined with a balanced diet, regular exercise, good hygiene and adequate sleep.
By supporting your immune system with the right supplements, you can give yourself a better chance of staying healthy this cold and flu season.
This blog post was created with the aid of AI.
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Yes, it’ s time for another exciting giveaway here on Pounds and Sense. This one has a ‘back to school’ theme. In most parts of the UK, of course, this occurs in early September. Scottish schools generally return a bit earlier, around mid-August.
Again I have clubbed together with some of my fellow UK bloggers to provide a plethora of great prizes. And the best news is, it’s entirely free to enter. The giveaway is open now and will close on September 1st 2024.
The prizes have been hand-picked for children and young people returning to school this autumn, so they should be ideal for your children or grandchildren. But if you want to keep any for yourself, we promise we won’t tell!
This event has (again) been organized by Rowena Becker, who blogs at My Balancing Act. No small amount of effort has been involved in arranging and co-ordinating it, so many thanks again to Rowena for her hard work and dedication.
Without further ado, then, I’ll hand you over to Rowena to introduce the giveaway…
Back to School Giveaway
Get ready for an exciting opportunity as some of the top UK bloggers unite to bring you a fantastic back-to-school giveaway! We’ve teamed up to offer one lucky winner a fabulous collection of school essentials that will make heading back to the classroom a breeze.
From stylish lunch bags and durable water bottles, to school shoes and jackets, this giveaway promises to equip you with some great goodies to kick off the school year in style. Join us in this collaborative celebration and enter for your chance to win these amazing prizes. Let’s make this school year the best one yet!
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 all involved! The bloggers taking part are:
Start-Rite Shoes is giving one lucky winner the chance to win a pair of school shoes for their child.
The foundation of any school uniform is a quality fitted pair of shoes, but there is nothing uniform about a Start-Rite school shoe! With 12 new styles added to their school shoe collection this season, Start-Rite is more prepared than ever to protect your children’s feet. No one size fits all, as every pair of feet has individual requirements to ensure healthy physical development.
Whether you’re looking to support wide or narrow feet, a high instep, or shoes that double for a special occasion, Start-Rite has a style to suit every child.
EcoSplash Fleece Lined Jacket Navy from Muddy Puddles
Gear up for the ultimate back-to-school season with Muddy Puddles’ in our back-to-school giveaway! Included in the prize bundle is a top-tierkids waterproof jacket that ensures your young adventurers are ready for any weather.
This navy raincoat features an impressive waterproof rating of 10,000mm to keep your child dry during heavy downpours, perfect for rainy days. Crafted from durable, breathable fabric made from recycled plastic bottles, it’s both eco-friendly and long-lasting. The soft fleece lining provides extra warmth, while the jacket’s design makes it easy to layer across various seasons. Fully taped seams offer robust protection against the elements, and reflective details enhance visibility in low-light conditions for added safety. Plus, it’s machine washable at 30 degrees for easy care.
Muddy Puddles has your kids covered for back to school with theirback to school jackets, waterproofs, and more—ensuring every rainy walk to school, puddle-jumping session, and chilly playground adventure is tackled in style and comfort!
Smash lunch bag and water bottle set
Gear up for the school year with an essential lunch bag and water bottle set! TheSmash Lunch Bag is your kids perfect lunchtime companion, designed with full insulation and an antibacterial lining to ensure their meals are as fresh as possible. Made from premium neoprene, this lunch bag is not only fully washable but also brings a splash of personality and fun to every meal.
Stay hydrated in style with theSmash Twin Wall Soda Bottle. Made from durable stainless steel, this sustainable bottle features a sleek design and a removable cap, making it an ideal everyday accessory. It’s BPA-free, food-safe, non-toxic, and offers a smart, twin-walled construction.
Create-a-Space™ Storage Centre from Learning Resources
Introducing a stylish addition to any back-to-school setup: the Create-a-Space™ Storage Centre from Learning Resources, which is part of our exclusive giveaway prize bundle! Perfectly blending modern design with practicality, this white 10-piece set will seamlessly fit into any décor theme, whether at home or in the classroom.
The carousel-style design features 8 removable containers, providing the perfect solution for organising essentials like glue sticks, crayons, pens and more. Keep your workstation clutter-free and enjoy a space that is as functional as it is chic with this versatile storage centre.
LittleLife Flip-Top Water Bottle!
Family active outdoors brand, LittleLife, is giving one person their choice of aflip-top water bottle, perfect for the school day.
Made from impact-resistant Tritan copolyester, a watertight lid and holding 550ml, these bottles are durable and fit fuss-free into your child’s school rucksack or backpack. LittleLife’s water bottles also come with a chew-resistant straw to avoid lingering tastes and odours due to being BPA-free.
Brainstorm Toys Children’s 14cm Desktop World Globe
Discover new horizons with the Brainstorm Toys Children’s 14cm Desktop World Globe, a shining star in our back-to-school giveaway prize bundle! This compact yet high-quality globe is a treasure trove of knowledge, showcasing detailed political boundaries, natural wonders like lakes, rivers, and deserts, as well as capitals and major cities.
Perfect for curious minds, this globe is ideal for home or school, making it a must-have for any aspiring explorer. The sturdy base ensures stability, while its easy rotation allows young adventurers to seamlessly explore different areas of the world. Enhance your child’s learning experience and ignite curiosity with this engaging educational tool.
Little Brian Scribble Paint Sticks
Unleash your creativity withScribble Paint Sticks by Little Brian, a standout addition to our giveaway prize bundle! These innovative paint sticks are perfect for adding intricate details and patterns to your artwork, thanks to their finer tip. Featuring 12 vibrant classic colours, they bring your child’s artistic visions to life with ease. Enjoy a mess-free painting experience where paint twists up and down just like a glue stick and dries in under 60 seconds. Whether you’re working on paper, card, wood, or glass, these versatile paint sticks make it simple to explore your creativity without the clean-up hassle.
How to Enter
You can enter this Back to School Giveaway by completing as many Rafflecopter widget entry options below as you like. All entries will be collated, and one winner will be randomly chosen via Rafflecopter.
The giveaway will run from 4 pm 23rd August 2024 to 8 pm 1st September 2024.
The winner 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.
Prizes 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 such items.
In the unlikely event that one of the companies withdraws a prize, we cannot offer an alternative.
The winner’s name will be stated on some or all of our bloggers’ websites and announced on Twitter/X and other social media channels. It will also be displayed on the Rafflecopter entry form. By entering this prize draw, you give your permission for this.
Please note the winner may have the same name as you so if you see your name displayed, be aware that you are not the winner unless you have been notified by us.
There may be some delays in receiving prizes.
Good luck, and I hope a Pounds and Sense reader wins this fabulous prize bundle!
Note: This post (and others on Pounds and Sense) includes affiliate links. If you click through and make a purchase or perform some other specified action, I may receive a commission for introducing you. This will have no effect on the product or service you receive or the price you pay for it, but it does help me pay my bills. Thank you!
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Today I’m sharing a post I originally wrote for my friends at Mouthy Money. It’s an important topic so, by agreement with Mouthy Money, I am publishing it here as well.
As you are probably aware, the UK government is currently pushing heat pumps hard in its quest to achieve Net Zero. As I said in my earlier article for Mouthy Money, however, they are definitely not a one-size-fits-all solution for home (or business) heating.
Even the government admits heat pumps are unsuitable for around 4 million UK homes, for a variety of reasons including lack of outside space and planning restrictions. Industry estimates suggest the real number is closer to 8 million [source].
Even if your home is theoretically suitable for a heat pump, there are good reasons why you might not want one. As previously discussed, these include the high initial cost, the potential noise issues, and the fact they work less well in cold weather (just when you need them most!).
For heat pumps to operate effectively, properties must be well insulated, and bigger pipes and radiators are likely to be needed. This can add considerably to the cost, not to mention the disruption caused. In my personal view heat pumps are best suited to new-build homes that can be designed around them.
So today I thought I would set out a range of other home heating solutions you might want to consider. I will also set out some points to take into account before making any decision.
Heat Pump Alternatives
1. Gas boilers
Gas boilers have been a staple in UK homes for decades, and they remain a very popular choice for heating. They provide reliable and instant heat, making them particularly suitable for homes with high hot water demand. While they rely on fossil fuels, modern condensing boilers are more energy-efficient, helping to reduce carbon emissions (and costs) compared to older models.
2. Oil boilers
For properties not connected to the gas grid, oil boilers offer a viable alternative. They work similarly to gas boilers but use heating oil stored in a tank on the property. While oil prices can fluctuate, modern oil boilers are highly efficient and can provide consistent warmth to homes in rural areas or those without access to natural gas.
In future oil boilers may be converted to run on hydrotreated vegetable oil (HVO), which is a renewable and 100% biodegradable alternative [source].
3. Biomass boilers
Biomass boilers use organic materials such as wood pellets, chips or logs to generate heat. They’re a sustainable option, as wood is a renewable resource.
Biomass boilers can be integrated into existing heating systems and may be eligible for government incentives such as Green Deal, making them an attractive choice for environmentally conscious homeowners.
4. LPG (liquefied petroleum gas) boilers
LPG is a clean-burning fossil fuel typically stored in a tank on the property, providing a reliable source of heating and hot water. LPG boilers function similarly to natural gas boilers, offering instant heat and efficient performance. They’re particularly popular in rural areas where mains gas is unavailable, providing homeowners with a convenient and cost-effective alternative for heating their homes.
5. Electric heating systems
Electric heating systems come in many different forms, including electric radiators, storage heaters and underfloor heating. They also include low-emission infrared panels.
While electricity prices can be higher than gas or oil, advances in technology have led to more energy-efficient electric heating options. They are often easier – and therefore cheaper – to install and require less maintenance compared to traditional boiler systems. They can be a good choice for smaller properties and those with limited space.
6. Air conditioning systems
Traditionally associated with cooling, modern air conditioning systems can also provide heating during colder months through a process known as reverse cycle or heat pump technology.
These systems extract heat from the outdoor air and transfer it indoors, offering both heating and cooling capabilities in a single unit. While more common in warmer climates, air conditioning systems are becoming increasingly popular for heating purposes in the UK due to their energy efficiency and versatility.
7. Electric boiler systems
Electric boilers function similarly to gas or oil boilers but use electricity as their primary energy source. They heat water for central heating and domestic hot water supply, offering a clean and convenient heating solution. They can normally be used with the same radiators as gas boilers, unlike heat pumps which (as mentioned above) typically require the installation of bigger radiators and pipes.
Electric boilers are compact, quiet, and emit no emissions on-site, making them suitable for properties where space or ventilation is limited. While electricity costs may be higher than some other options, electric boiler systems can be an efficient and low-maintenance option.
The MInistry of Defence recently decided to opt for electric boilers rather than heat pumps as a more cost-effective solution for barracks and other military installations [source].
8. Hybrid heating systems
Hybrid heating systems combine two or more heating technologies to optimize energy efficiency and performance. For instance, a hybrid system might pair a gas boiler with a heat pump or integrate solar thermal panels with a conventional boiler. These systems offer flexibility and can adapt to changing energy demands, providing homeowners with both reliability and sustainability.
9. Solid fuel stoves
Solid fuel stoves, such as wood-burning or multi-fuel stoves, provide both warmth and ambiance to homes. They’re particularly popular in rural areas where homeowners have access to firewood or other solid fuels. While they require manual operation and regular maintenance, solid fuel stoves can significantly reduce heating costs and add character to any living space.
10. District heating networks
In urban areas, district heating networks supply heat to multiple buildings from a central source, such as a combined heat and power (CHP) plant or biomass facility. This communal approach to heating can be more efficient and cost-effective than individual heating systems, offering residents a sustainable and reliable heat supply without the need for on-site boilers or heat pumps.
Considerations When Choosing an Alternative
When exploring alternatives to heat pumps, various factors need to be considered.
Cost: Evaluate the initial investment, ongoing maintenance costs, and potential savings (or otherwise) on energy bills.
Space and suitability: Consider the available space for installation and the specific requirements of each heating system.
Energy efficiency: Look for heating solutions with high energy efficiency to minimize running costs and environmental impact.
Fuel availability: Assess the availability and accessibility of fuel sources in your area.
Control options: Explore the available control features, such as programmable thermostats or smart technology integration, for convenient operation and efficient energy management.
Lifestyle factors: Some heating methods (e.g. electric) are good if you are out and about a lot but want rapid warmth when you get home. Other methods (including heat pumps) are better suited to those who are around more in the day and like to keep their home at a fairly constant temperature.
Political and economic factors: Bear in mind that the government is keen to achieve its Net Zero targets, and as a result some heating options may become more costly in future and harder (or even impossible) to access. That applies to fossil fuels in particular; although realistically it is hard to see fuels such as gas being banned entirely any time soon.
Finally, I’d like to sound a note of caution about putting all your home heating eggs in one metaphorical basket, especially that of electricity.
As the UK transitions from fossil fuels towards (supposedly) greener electricity, power cuts are likely to become more frequent and longer. The growing use of heat pumps and EVs will add to the demand for electricity from a distribution network that is already struggling to cope. And renewable energy sources such as solar and wind, while they might be more environmentally friendly, produce significantly less electricity when the sun doesn’t shine or the wind doesn’t blow.
If you’re entirely reliant on electricity for your home heating, this could make you vulnerable in the event of outages (especially relevant if there are older people in the house). In my view there is much to be said for having a backup heating source, e.g. solid fuel, to keep your home warm if the mains electricity fails. Of course, this applies with regard to heat pumps as well, as they require electricity to function.
It’s also worth noting that in Scandinavian countries, where heat pumps are more common, most families have an additional source of heating as well as heat pumps to get them through the coldest months.
A home battery system, as discussed in this recent article, can also reduce your vulnerability in case of power cuts, especially when combined with solar panels.
Closing Thoughts
In summary, while the government and energy companies are pushing heat pumps hard, they are far from the only possible home heating solution, either now or in future.
If you’re considering upgrading your heating, take time to evaluate all the options and don’t be unduly swayed by the heat pump hype (and even misinformation). While these devices can work well for new-builds in particular, they are definitely not the only option.
By exploring alternatives such as gas and oil boilers, biomass systems, electric boilers, LPG boilers, solid fuel stoves, and others, you should be able to find a heating solution to suit your budget, your lifestyle, your priorities and your property size and character.
Good luck, and please do stay warm!
As always, if you have any comments or questions about this article, please do post them below.
For better or worse, the UK has elected a Labour government. There will undoubtedly be many changes in economic policy, taxation and regulation, which of course will affect personal finances. So today I am setting out some ways in which you may be able to safeguard your savings and investments as Labour take control.
As Pounds and Sense is aimed especially at older readers, I am obviously writing from that perspective, but many of these points will apply equally to younger people as well.
1. Diversify Your Investments
Diversification remains a cornerstone of sound investment strategy, especially in times of political uncertainty. By spreading your investments across different asset classes – such as equities, bonds and property – you can reduce the risk of any single investment adversely affecting your portfolio. Consider international diversification to hedge against domestic political risks. This means investing in global markets to mitigate potential local economic disruptions. Historically, gold and commodities can also act as a hedge against economic upheavals.
2. Understand Tax Implications
Labour governments typically lean towards higher taxes on wealth and income to fund public services. Stay informed about potential changes in tax policies, such as higher rates of capital gains tax, dividend tax or inheritance tax. To mitigate the impact:
Utilize ISAs and Pensions – make full use of tax-efficient accounts like Individual Savings Accounts (ISAs) and pensions, which can shield your investments from tax.
Consider Timing of Asset Sales – if changes in capital gains tax (CGT) are anticipated, you might want to accelerate the sale of certain assets before new rates take effect.
Inheritance Planning – review your estate plans and consider trusts or gifts to mitigate higher inheritance taxes.
3. Consider a Bed-and-ISA Strategy
If you hold a lot of investments outside an ISA or other tax shelter, this can be a good strategy to reduce your tax liability.
Bed-and-ISA involves selling taxable stocks and shares and then repurchasing them within an ISA wrapper. This allows you to transfer investments into a tax-protected environment, where future gains and income will be sheltered from tax. Note that you cannot transfer taxable stocks and shares directly into an ISA, but Bed-and-ISA performs the same function.
On the minus side, Bed-and-ISA may incur some costs in terms of transaction fees and any difference (spread) between selling and buying prices. You may also become liable for CGT if any profits realized exceed your annual tax-free allowance. The long-term benefits can be substantial, however. This applies especially if – as seems likely under Labour – tax-free CGT allowances are reduced and the rates payable are increased. Of course, the Conservatives have started doing this already.
Some Online Platforms Will Undertake Bed-and-ISA on Your Behalf – that means you don’t have to do the share selling and buying yourself. One such platform is AJ Bell. This can obviously save you a bit of time and may work out cheaper as well. Be aware that you will still have to pay some fees and charges, however, along with CGT on any capital gains above your personal allowance.
A Similar Option is Bed-and-SIPP – with this you sell taxable stocks and shares and then buy the same ones back within your private pension (SIPP).
This Strategy is Named After an Older One Called Bed-and-Breakfasting – at one time this was deployed to minimize CGT liability. The law was changed to make bed-and-breakfasting less effective, but Bed-and-ISA can still work well.
Bed-and-ISA Can Also Be Used to Crystallize a Loss – this can then be set against other taxable profits in the year concerned to reduce your CGT liability.
Property has long been a favoured investment in the UK. However, the Labour government may introduce policies adversely affecting buy-to-let investors, such as rent controls or higher taxes on second properties. To protect your property investments:
Assess Rental Yields and Potential Regulations – ensure your rental income can withstand potential regulatory changes.
Consider Property Ownership Structures – holding property through a limited company can sometimes be more tax-efficient.
Stay Liquid – keep some liquidity to manage any unforeseen expenses or changes in regulation.
5. Focus on Stable Income Investments
Investments that provide steady income can be particularly valuable during uncertain times. Consider:
Dividend-Paying Stocks – companies with a history of stable dividends can provide a reliable income stream.
Bonds and Fixed Income – government and high-quality corporate bonds can offer stability and predictability.
Infrastructure Funds – these often provide regular income and are less sensitive to economic cycles.
6. Monitor Inflation and Interest Rates
Economic policies under Labour may lead to changes in inflation and interest rates. Historically, increased government spending can drive inflation, which in turn erodes the value of savings. And if inflation rises, the Bank of England is very likely to respond by raising interest rates. To combat this:
Consider Inflation-Linked Investments – investments that adjust with inflation, such as inflation-linked bonds.
Review Savings Accounts – ensure your savings accounts offer competitive interest rates. A cash ISA will also shelter your savings from tax.
Consider Fixed-Rate Mortgage Deals – if interest rates rise under Labour, a fixed-rate deal on your mortgage will offer some protection.
Take Action on Equity Release – if you’ve been considering this, there is a case for proceeding sooner rather than later, in case long-term interest rates rise
7. Stay Informed and Flexible
The political landscape can change rapidly. Regularly review your investment portfolio and financial plans to ensure they align with current and anticipated economic policies. Consider consulting with a financial advisor who can provide tailored advice based on the latest developments. Depending on your circumstances, you may want to consult with an accountant as well.
8. Invest in Knowledge and Skills
An often-overlooked investment is in your own knowledge and skills. By staying informed about personal finance and economic policies, you can make better decisions. Attend financial planning seminars, read reputable financial news, and consider taking financial education courses. There are also some excellent personal finance websites, including Money Saving Expert, Which? Money and This Is Money. I recommend reading and following all of them.
And naturally you should keep reading Pounds and Sense as well. Why not take a moment to subscribe in the right-hand column so as never to miss any of my posts in future? ➡➡➡
Closing Thoughts
While the Labour government may introduce changes that impact savings and investments, proactive planning and informed decision-making can help protect your financial future.
By diversifying your portfolio, making good use of tax-efficient investments such as ISAs and pensions, focusing on stable income investments, and staying adaptable, you can navigate the uncertainties and safeguard your assets. Remember, the best defence is a well-thought-out strategy and staying informed about the changing economic landscape. Good luck, and I wish you every success in achieving your financial goals.
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 post should be construed as personal financial advice. You should always do your own ‘due diligence’ before investing, and seek professional advice if in any doubt how best to proceed. All investing carries a risk of loss.
This is an updated version of my original article.
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Summer is here (just about!) so it’s time for another exciting giveaway on Pounds and Sense. This one is themed around Father’s Day, which this year is on Sunday June 16th.
I have clubbed together with some of my fellow UK bloggers to provide a bunch of great prizes guaranteed to put a grin on any dad’s face. And the best news is, it’s entirely free to enter! The giveaway is open now and will close at 11.45 am on Sunday June 16th.
This event has (again) been organized by Rowena Becker, who blogs at My Balancing Act. No small amount of effort has been involved in arranging and co-ordinating it, so many thanks again to Rowena for her hard work and dedication.
Without further ado, then, I’ll hand you over to Rowena to introduce the giveaway…
The Giveaway
This Father’s Day, prepare to delight the special man in your life with an extraordinary giveaway brought to you by a collaboration of top UK bloggers. We’ve joined forces to curate a bundle of prizes that promises not only to impress but also to provide moments of joy. This giveaway is your chance to give your dad something truly special this Father’s Day. Just head to the bottom of this post for details on how to enter and join us in celebrating the incredible men in our lives with a gift that stands out from the rest. Don’t miss this opportunity to make Father’s Day unforgettable this year!
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:
Celebrate Father’s Day in style with theOpinel Barbecue Set! This timeless set is the perfect companion for socialising and dining with friends, offering a blend of practicality and elegance. Crafted in France using eco-friendly local materials, the set includes three essential utensils:
N°12B Folding Knife: Featuring a 16cm stainless steel blade and a durable beechwood handle sourced from French forests, this knife is equipped with a safety collar for secure locking in open and closed positions. Complete with a built-in bottle opener, this versatile tool is a must-have for any outdoor gathering.
Spatula+: Crafted from stonewashed finish stainless steel, this spatula attaches to the N°12B knife handle and secures in place with the safety collar. With a generous 8.5cm x 20cm surface area, it simplifies food handling with its narrow angle and beveled edges for precise scraping and separating.
XL Tongs: Measuring 40cm in length, these stonewashed stainless steel tongs ensure easy and safe food handling. Their asymmetrical heads offer versatility, allowing you to grip both large and small items effortlessly, while the grid-lifting slot enhances convenience during grilling sessions.
Don’t miss this chance to win this exceptional Opinel Barbecue Set for the dad in your life!
Team GB: Jokesaws Medals in the Making 1000 piece Jigsaw
Prepare for excitement with “Medals in the Making” – a vibrant 1000 piece jigsaw puzzle, included in our Father’s Day Giveaway prize bundle. Join Team GB in a whirlwind of Olympic events featuring skateboarders, swimmers, cyclists, and sprinters. This officially licensed puzzle is part of Gibson Puzzle’s humorous Jokesaws range, promising entertainment and laughter as you piece together this energetic scene painted by Phil Dobson. Get your dad ready for a fun challenge filled with hidden gems and jokes! The perfect gift this Father’s day!
African Shea Black Soap 120g from Aviela
Introducing the luxuriousAfrican Shea Black Soap 120g as a delightful addition to our Father’s Day prize bundle, making it a perfect gift choice. Handcrafted with care, this gentle cleansing soap bar is enriched with pure Shea Butter, Cocoa Pod Ash, and nourishing natural oils like Coconut and Neem. Its moisturizing formula, rich in essential fatty acids and vitamins, effectively cleanses while soothing the skin, offering a pampering experience for dads.
African Orange Hand and Body Wash from Evolve Organic Beauty
Presenting the indulgentAFRICAN ORANGE AROMATIC HAND & BODY WASH (250ml) as a luxurious addition to our Father’s Day prize bundle, offering a perfect gift choice. Formulated with natural Coconut and Sugar Extracts, this aromatic wash gently cleanses and hydrates while preserving the skin’s pH balance. Enriched with Organic Aloe Vera, it nourishes and soothes, leaving a delightful scent of blood orange, vanilla, black pepper, and cedarwood. Treat dad to this organic hand wash for a pampering and comforting experience.
Kanoodle® Ultimate Champion from Learning Resources
Our lucky winner will get to experience the thrill of the #KanoodleChallenge as it’s part of our Father’s Day prize bundle, offering a chance to become theKanoodle Ultimate Champion! With 500 diverse 2D and 3D puzzle challenges, this game will delight dads seeking a stimulating mental workout. Perfect for gifting, it combines fun, logic, and portability in one exciting package.
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!
The giveaway will run from 3 pm 8th June 2024 to 11.45 am 16th June 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 fabulous prize bundle!
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I was recently offered the chance to review the Simba Hybrid Mattress Topper (see cover photo). This is a premium mattress topper from the well-known Simba sleep brand.
I must admit, incidentally, I hadn’t realised the variety of sleep products Simba offer. I knew about their mattresses, of course, but wasn’t aware they also sell quilts, pillows, mattress toppers, and so on.
I currently sleep on a Slumberland king-sized mattress which – despite being barely three years old – is starting to sag. My sleep quality had deteriorated and I was waking up with an aching back and hips. Not good at all 🙁 So when I got the opportunity to test out Simba’s hybrid mattress topper, naturally I leapt at it.
I have tried mattress toppers before, and in fact got a cheap one from Amazon prior to receiving the Simba product. It helped a little but clearly wasn’t going to be the solution for me.
The Simba hybrid mattress topper takes sleep comfort to a whole new level. For starters, it’s deeper and heavier than my previous mattress topper. It came rolled up in a (very) large cardboard box. I wrestled it upstairs and opened it without any help (nobody else being around at the time) but ideally I’d say this is a two-person job.
The mattress topper comes tightly wrapped in a clear plastic bag. Once I removed it from this, it lay flat on the bed without curling. Unlike some sleep products I have ordered in the past, you don’t have to wait for it to expand to its full depth.
From the first night onward I was hugely impressed with the Simba hybrid mattress topper. It is no exaggeration to say that it felt as though I was sleeping on a brand new mattress. It is smooth, cool and comfortable to lie on and (for me anyway) offers just the right medium-to-firm level of support. I am sleeping deeper and longer before waking, and the aches and pains in my back and hips are a thing of the past.
I thought it might be useful to reproduce here the diagram from the Simba web page showing how their hybrid mattress topper is constructed and the different layers it contains…
As you can see, the Simba hybrid mattress topper includes a number of different layers (hence the ‘hybrid’ in the name, I assume). You can read more about this on the Simba web page, but briefly at the top there is a soft, breathable sleep surface, with a foam comfort layer under that. In the middle is a spring support layer (just like in a mattress), with a high-density foam base below that. This is very different from most cheap mattress toppers, which are basically just quilts with a cotton/polyester filling.
Obviously because of its layered structure, you can’t turn the Simba hybrid mattress topper over. You can rotate it from end to end though, and it’s probably a good idea to do so occasionally to even out wear. No instructions are provided about this, however, so that’s purely a suggestion, based on my previous experience with mattresses.
Are there any drawbacks to the Simba hybrid mattress topper? Well, I did notice a slight ‘chemical’ smell which took a few days to disperse. It didn’t bother me, but ideally you might want to let your new mattress topper air for a day or two before starting to use it. I’m afraid I was too impatient to wait, though!
In addition, as this mattress topper contains springs, I wouldn’t recommend trying to wash it (it wouldn’t fit in a standard washing machine anyway!). It does though come with a removable, washable cover. Essentially, you need to treat this product as if it was a mini-mattress in its own right. That isn’t really a drawback to the Simba hybrid mattress topper, just a feature of it.
Overall, I am happy to give the Simba hybrid mattress topper my highest personal recommendation. If – like me – you have an old mattress that is starting to sag, it should prolong its useful life. Also, if you have a mattress that is too hard, it should make it softer and more comfortable for you. It’s not cheap (at the time of writing £219 for the single version or £329 for the king-size I received) – but, as so often in life, you get what you pay for. Easy payment by interest-free instalments (up to 12 months) is also available subject to status.
I should add as well that delivery is free and fast: next working day if you order before 2 pm or two working days if you order after 2 pm. There is also a range of options for buying a Simba double topper.
Many thanks again to my friends at Simba for allowing me to try out their hybrid mattress topper. If you have any comments or questions about this post, as ever, please do post them below as usual.
Disclosure: This is a sponsored post (gifted product).
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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:
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!
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:
A recent study conducted by Smart Money People reveals that one in ten people in a serious relationship, including marriage, civil partnerships, or cohabitation, maintain a secret savings account.
The research for the study was undertaken by Opinium on behalf of Smart Money People from 12 to 16 January 2024 among 2,000 UK adults aged 18 and over.
The SMP study highlights the prevalence of this practice among those in their 30s, with 30% acknowledging having such an account. Additionally, women are reported to be more likely than men to save secretly, indicating potential gender-related financial dynamics within relationships.
The reasons for maintaining a secret savings account vary, with the most common explanations being that individuals already had the account before entering the relationship (38%) or the desire to maintain financial independence (37%). However, a surprising 22% of respondents with a secret savings account admit to using it as an emergency break-up fund, anticipating potential costs associated with leaving a relationship, such as moving expenses or repurchasing shared assets like a car.
Interestingly, over half (51%) of those with a break-up fund also have a joint savings account with someone other than their partner, introducing an additional layer of complexity to the financial dynamics within relationships.
The study sheds light on the impact of financial matters on relationship stability, revealing that 18% of adults believe a lack of financial compatibility has contributed to a break-up in the past. The biggest savings-related causes of friction for those currently in a relationship are having different opinions on savings habits or when it’s okay to use savings (28%). This underscores the importance of aligning financial goals and strategies within a relationship.
Financial compatibility is considered crucial by 95% of couples living together, emphasizing the significance of shared financial values. Despite this, 10% of individuals still maintain secret savings accounts, illustrating a potential disparity between stated beliefs and actual financial behaviour.
The study indicates that half of people in relationships do not save the same amount of money as their partner, primarily due to unequal earnings (65%). An additional one-third attribute the difference in savings to disparate spending habits, with 40% of these individuals maintaining secret savings accounts.
In terms of relationship longevity, the research suggests that couples with joint savings accounts feel more financially compatible (90%) compared to those without. The data encourages open and honest discussions about money within relationships, emphasizing the importance of navigating financial decisions together.
Commenting on the findings, Jacqueline Dewey, CEO of Smart Money People, said, “Many people may already have methods of saving that work well for them prior to a new relationship, so although long-term partnerships bring about new joint financial goals, this shouldn’t negate any personal goals for each individual.
“Having different outlooks and opinions on savings isn’t necessarily a deal-breaker, but finding the most suitable ways to manage this is important.”
In summary, the SMP study highlights the complexities of financial dynamics within relationships, emphasizing the need for open communication, shared financial goals and mutual understanding, in order to maintain a healthy and long-lasting partnership.
Let me tell you about my dad. He was a kind, thoughtful man and I learned many important things from him. But money was, sadly, never his strong point.
Here’s an example. Quite a few years ago a family member persuaded him to invest all his spare cash in a media services business a friend of a friend was setting up.
I didn’t hear about this till after the investment had been made. But even though I was much younger then, I could still see it was insanely risky.
It was a new business with no track record. And Dad knew nothing whatsoever about the media – he was a carpet-fitter turned hydraulic machinery salesman. And perhaps sensing that his wife (my stepmother) would disapprove, he didn’t actually bother to tell her about it.
For the next year or so, any time my partner Jayne and I went to visit, Dad would find an opportunity to take us aside at some point to give us an update. Inevitably this would begin with a conspiratorial, “Don’t tell Shirley, but…”
At first the news seemed encouraging, but soon it became clear the business was going south and Dad’s money was going with it. I’ll never know the full story, but it seemed to me he was badly advised (to put it kindly) by the relative concerned and quite probably cheated by the main shareholder, though it was all technically within the law.
Eventually he had to confess to my stepmother that he had lost most of their life savings. This inevitably caused a rift between them and had further ramifications that continued for the rest of their lives.
This whole incident was, of course, deeply traumatic for the whole family. The one good thing it taught me was the folly of putting all your eggs in one basket when investing.
I vowed I would never make that mistake with my own investments and have therefore always aimed to diversify as widely as possible. To date that principle has served me well.
How to Diversify
There is no one single recipe for successfully diversifying your investments, but here are some guidelines I have tried to follow myself.
Don’t even think about investing until you have paid off any interest-charging debts. You should also have at least three months’ of income in easily accessible form in case of sudden, unexpected emergencies. An instant access cash ISA (see below) might fit the bill.
Don’t invest more than a small proportion of your portfolio in single company shares. You will get much better diversification by investing in a fund that includes a broad range of shares and other investment products.
Aim to invest not only across different companies but different countries, sectors, industries, and so on. A well-diversified global fund can do this for you.
Make full use of your tax-free ISA allowance. This is currently a generous £20,000 a year. Investing via a reputable stocks and shares ISA can save you thousands of pounds in tax.
For further diversification you might also consider investing a small amount in an Innovative Finance ISA. IFISAs let you invest in peer-to-peer lending. While riskier than bank savings, the potential returns from this are also better. Each year you are allowed to invest in one IFISA as well as one stocks and shares ISA and one cash ISA, as long as you keep within the annual £20,000 limit. [Note: the rule about only investing in one of each type of ISA per year is being abolished from the start of the 2024/25 financial year.]
With a well-diversified portfolio, you greatly improve the chances that if one or more of your investments fails to perform, others will compensate. And whatever happens in the world, your overall investment pot will hopefully build over the years into a substantial sum.
Whatever you do, though, pleasedon’t make my dad’s mistake and put all your money into a single business (or other investment), especially if it’s one you don’t understand. That really is the fast track to a financial meltdown!
Disclaimer: I am not a qualified financial adviser and nothing in this post should be construed as personal financial advice. All investment carries a risk of loss. You should always do your own ‘due diligence’ before investing and consult a professional financial adviser if in any doubt how best to proceed.
This is an updated version of an article originally published on the Mouthy Money website.
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