families

Guest Post: Key Things to Consider when making a Gift or Loan to Married Children

Guest Post: Key Things to Consider When Making a Gift or Loan to Married Children

Today I have a guest post on what can become a major issue for parents when making gifts or loans to their married children. Specifically it looks at what you can do to ensure that your wishes are respected should the worst happen and the marriage fails.

The article is by Joanna Toloczko, a partner, family law solicitor and mediator at UK law firm RWK Goodman.

Over to Joanna then…


According to the UK House Price Index in August 2023, the average house price in the UK was £291,000 and in London a whopping £536,000. To put this into context, the average house price back in January 2013 was £167,716, representing an increase of around 73%.

A bank or building society will normally require a minimum deposit of between 10% and 25% of the property value as a term of a mortgage offer, and the more you are able to put down as a deposit, the lower rate of interest you are able to secure. It is not surprising, then, that an increasing number of married couples rely on a contribution from one or both sets of parents for their deposit.

In my work as a family lawyer and mediator I often come across cases where a divorcing couple are at loggerheads about whether such a contribution was a loan or a gift. The party whose parents provided the funds will often argue that the funds were a loan which should be returned to their parents before the remaining funds are distributed between the husband and wife. The other party will usually argue that the funds were a gift and are available for distribution between the parties.

If the couple are not able to reach agreement and the case proceeds to court significant sums of money can be spent on arguing this point as a preliminary issue. Very often the parents will be drawn into the litigation.

Even if the Court accepts that the funds were a loan, it is possible that the Court will take the view that it was a “soft loan”, i.e. a loan where repayment is unlikely to be enforced. In these circumstances, the Court may choose to disregard the liability.

Usually, at the time the funds are made available to the couple no-one has formally addressed the issue of the nature of the advance. Everyone is excited about the new house purchase; no-one anticipates that the marriage may fail.

So, what can be done to ensure that gifts made to married children stay in the family of the parents making the gift, in the event of a divorce?

If the funds are being advanced to assist with the purchase of a property, a Declaration of Trust can be a useful tool. In this situation the married couple are the legal owners of the property and hold the property as “tenants in common”, which means that they have their own distinct share in the property. The Declaration of Trust can be used to set out the beneficial interests in the property, including the interests of third parties. For example, a Declaration of Trust could make it clear that as parents had contributed to the purchase price of the property, they are entitled to a specified share of the equity. Alternatively, the Declaration of Trust could set out that once the property is sold, the parents have to be reimbursed prior to the distribution of the remaining equity between the couple.

If parents are to receive a share of the equity, they need to be aware of a potential Capital Gains Tax liability, should their interest in the property increase in value.

Another alternative would be to use a formal loan agreement or for the parents to take a Legal Charge over the property. A Legal Charge works like a second mortgage. It is secured over the property and registered at the Land Registry. The Charge sets out details of the sum loaned to the couple, whether interest is payable and when/in what circumstances the parents are entitled to call for repayment of the loan.

Nuptial Agreements are also becoming more popular. These can be entered into either before the marriage (Prenuptial Agreement) or during the course of the marriage (Postnuptial Agreement).

These agreements make clear what is to happen to the couple’s assets in the event of divorce or separation.

If parents are gifting money, transferring properties, leaving an inheritance, providing an interest in a business, etc, and they wish to protect those assets in their child’s favour in the event of separation or divorce, a Pre- or Postnuptial agreement can be an extremely useful document.

Although Nuptial Agreements are not legally-binding and can be over-ruled by a judge in the divorce proceedings, if they are prepared in the correct manner, they have good prospects of being upheld or will certainly be heavily influential on the judge.

In summary, when advancing funds to a married child, always be clear about whether the funds are a gift or loan and seek legal advice about how best to ensure that the funds remain in the family in the event of a divorce. It is usually also a good idea to discuss any tax implications of your plans with an accountant or tax adviser.

Joanna Toloczko is a partner, family law solicitor and mediator at RWK Goodman and can be contacted on 07553 058485 or at Joanna.Toloczko@RWKGoodman.com.


 

Many thanks to Joanna Toloczko (pictured, below) for an informative and eye-opening article. Please do check out her company’s website (linked above).

Joanna Toloczko

While nobody likes to think about the marriage of their offspring failing, the reality is that an estimated 42% of marriages in the UK today will end in divorce. So it is vital to be realistic and ensure that, should the worst happen, any money you give or lend is returned or divided in accordance with your wishes.

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

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Back to School Giveaway 2023

UK Bloggers’ Back to School Giveaway 2023

Yes, it’ s time for another exciting giveaway 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 little earlier, around mid-August.

Again I have clubbed together with some of my fellow UK bloggers to provide a smorgasbord of great prizes. And the best news is, it’s entirely free to enter. The giveaway is open now and will close on August 30 2023.

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

With only a couple of weeks left until the start of the new school year, some of the top UK bloggers have come together to offer one lucky winner an amazing bundle of prizes to send their kids back to school in style. This is not only a giveaway but also a great Back to School Guide to help you get ideas and inspiration for your kid’s new school year.

The Prizes

Microsoft Surface Go 2 Intel Pentium Gold from Tier1

Tier1, refurbishers of laptops, desktops and tablets and more, are the perfect solution for parents looking to equip their kids with great but affordable technology as they head back to school. Tier1 take pre-owned devices and put them through a rigorous process of testing, cleaning, and repairing to ensure they are in excellent working condition. Not only do these devices offer significant savings compared to buying brand new, but they also provide a reliable and efficient way for students to engage in online learning, complete assignments, and explore educational resources.

With Tier1, parents can find high-quality laptops and tablets that meet their children’s needs without breaking the bank, allowing them to invest in their education without compromising on affordability. We have the Microsoft Surface Go 2 Intel Pentium Gold from Tier1 for our lucky winner. Right now, Tier1 have their summer sale on, making those back to school savings even greater!

Image 1 laptop tier1

Futliit LED Backpack

Introducing the Futliit LED Backpack, the perfect accessory for those walking or cycling home after school. Safety is paramount, especially when it comes to being visible in the dark. Are you worried about your kids walking home in the dark? Don’t worry! The Futliit LED backpack is here to keep them visible to passing traffic, ensuring their safety.

Equipped with two strands of LED lights and reflective panels, the backpack guarantees maximum visibility on your journey. But that’s not all – the backpacks come loaded with features. With a spacious main compartment, a padded device sleeve, and ample storage space, your kids can keep all their school essentials secure.

Don’t miss out on this chance! Enter our giveaway for an opportunity to win the Futliit LED Backpack. Ensure your kid’s safety and embrace the #BeFutliit movement!

Image futliit night

Premium Start-Rite School Shoes

Motivate‘ and ‘Encourage‘ deliver the very best protection Start-Rite has to offer, and here’s your chance to win either style of your choice! These robust shoes are packed with the best Start-Rite intelligence, from Air Rite technology to biomechanical soles, reflective tabs, toe and heel bumpers, padded ankles, dyed through leather and adjustable rip-tape fastenings.

The durable designs of these two new styles launched by Start-Rite, in collaboration with ‘The Daily Mile’, strengthen the joint ambition to support healthy development and physical activity for all school children.

‘Motivate’ – available size S10 – L4 (Standard and Wide width fitting)

‘Encourage’ – available size S9 – L2 (Standard and Wide width fitting)

To browse the full Start-Rite school shoe range – https://www.startriteshoes.com/school-shoes

Start-Rite shoes

 

Create-A-Space™ See-Thru Storage Caddy

Keep your kid’s art and crafts supplies organised when they go back to school with the Create-A-Space™ See-Thru Storage Caddy from Learning Resources. The set comes with 4 very handy see-through storage bins on a portable base with a carry handle. It’s the perfect caddy for creative kids, and we have one to give to our lucky winner!

Create-a-Space

SMASH Lunchbags and Water Bottles

Going back to school with SMASH means you’re going back in style! Our lucky winner can grab their kids the following lunchtime accessories:

The water bottles have an easy carry handle and a fast-flow straw sipper. The lunch bags are not only super cool and super stylish but they are also fully insulated with an anti-bacterial lining. Oh, and super easy to clean too! If you can’t wait to see if you’re a winner, these affordable lunch bags and water bottles are all available from Dunelm.

Blue cameo lunch bag

Brainstorm Toys E2001 Light Up 2 in 1 Globe Earth & Constellations, Multicolour

Help your kids learn when they go back to school with Brainstorm Toys Light Up 2 in 1 Globe of the Earth and constellations. The Earth and Constellation Globe is two globes in one with a day-time and night-time view. In the daylight, the 22.8 cm diameter globe shows political boundaries, oceans, equator, longitude and latitude lines, country names, capital cities and other major cities for each country in the world. By night the illuminated star map shows constellations with their common names. The globe is at a scale of 1:55,900,00, and it sits on a sturdy, stylish silver stand with a matching graduated meridian.

The Earth and Constellation Globe has an automatic light sensor, so when the globe is turned on and the surrounding area is dark, the globe will transform into a beautiful glowing globe showing the star constellations. It is a great learning tool for geographers and astronomers, but also a great feature for your child’s bedroom. And we have one for our lucky winner!

Globe pack

The Bloggers

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

My Balancing Act | The Mum Diaries | Life with Jupiter and Dann | Mummy Fever | Jenny in Neverland | Suburban Mum | Stay PositiveWotawoman Diary | Catch Up With Claire | Synderella Slims | Make Money Without A Job | The Festive Feelings | Thrifty Husband | A Thrifty Gamer | Mrs Pinch |  We Made This Life | My Life Your Way | We Made This Vegan | Effervescent Kelly | Diary of the Evans-Crittens |  Best things to do in Cambridge | Two Plus Dogs | The Financial Wilderness | Cats Kids and Chaos | Ideas For A Good Life | My Money Cottage | Clean Plates All Round |  Boxnip |  Everything EnchantingPounds and Sense | Life Loving | Spillinglifetea | Missljbeauty |  A Suffolk Mum | Sustainable Business Magazine | BLUEBEARWOOD | THE TOY SCOOP | mummy and me x2 | Crazy Little Thing Called Love | Hannah and the Twiglets | The Geordie Grandma | In The Playroom | Catbaba | Birds and Lilies | The Happy Budget | Testing Time | PrettyCore | Remote Working Guru | Mummy Saver Money Maker | Moms Money Makeover | Real Girls Wobble | Lifestyle Original | Anything and Everything Else | Cyprus Property Blog

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. Good luck!

a Rafflecopter giveaway

Terms and Conditions

  • UK entries only
  • The giveaway will run from 7 pm 20th August 2023 to 11.59 am 30th August 2023.
  • The winners will be notified by email from rowena@mybalancingact.co.uk
  • The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
  • This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter, 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.
  • 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/X and other social media channels. It will also be displayed on the Rafflecopter Entry. 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!

Back to School giveaway banner

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Inesting Survey

New Survey Sheds Light on Britons’ Investing Habits

Today I am sharing some interesting data from my friends at HSBC regarding British people’s investing habits.

This information comes from a survey conducted last year by Sticky and Censuswide on behalf of HSBC. The survey was conducted online, with a total sample size of 2018 adults. It reveals how and why people in the UK are investing, and (very importantly) why many are not.

The research revealed that nearly two-thirds of people had some form of savings (64%), with more than one in three (36%) saying they had investments. Nearly half (47%)  believed investing was a better way of achieving future financial goals in the current financial climate.

More than half of people (53%) who said they would like to invest but haven’t yet said they didn’t know how to begin. Just over 1 in 3 Brits are currently investing, so almost two-thirds are not.

Saving vs Investing

Somewhat reassuringly, two-thirds of people in the survey said they currently have savings (64%) and just under three-quarters (72%) said they have enough money put away to cover three months’ living expenses despite increases in the cost of living.

The main reasons people have for saving and investing are summed up in the infographic below…

Reasons for investing

As you can see, nearly half of people in the HSBC survey (46%) didn’t have a particular goal for their saving or investing – but those who did have a target were much more likely to be saving for something long-term (37%) like a house deposit or their retirement than short-term goals like holidays or other large purchases (20%).

In general, of course, saving for short-term goals is best done through cash savings accounts – but for long-term goals, typically five years or more ahead, investing is likely to produce better overall returns.

Investment Choices

The infographic below shows the main ways people in the UK are currently investing.

How are British people investing?

As you can see, the most popular investment is stocks and shares (44%), followed by funds (25%), bonds (20%) and property (19%).

When people were asked how they’d decided to invest, the most common reason given for choosing stocks and shares was the expectation of good returns (34%). Bonds were most often seen as a “safe” investment (38%).

Meanwhile, the reason for choosing funds was more equally balanced between being seen as offering good returns (34%) and being “safe” (30%), with the same being true of property (39% good return, 35% “safe”).

Barriers to Investing

When people were asked why they hadn’t chosen to invest, the most common answer (45%) was thinking they didn’t have enough money to do so. But nearly a quarter (23%) said they didn’t know enough about how to invest, ahead of the one in five (21%) who said they would worry about losing all their money.

For those who said they were scared of losing money, the main driver of those worries was the fact that investments can go down as well as up (40%). But that was followed by concerns about the need for access to their cash – with 37% saying they might need their money at short notice, and another 30% stating that their financial situation meant they couldn’t lock away money for a long time.

Those who chose to invest in jewellery and alternatives (wine, art, whisky, etc) were the most likely to say they had done so because they had expertise in that area (25%).

Investment Knowledge

When it comes to detailed financial knowledge, more than one in three (34%) said they didn’t feel they had enough information about investing. And those who wanted more help with their financial planning were most likely to need information about where to invest (25%), followed by support on types of investments (22%), the cost of investing (20%), and which investments are more or less risky (20%).

People who said they already received some information on investing were most likely to get that from their family (17%), their bank (16%), friends (15%) and social media (15%) – all ahead of financial newspapers (13%) and financial blogs (11%).

Nearly a quarter (24%) said they’d like to receive more information about investing from their bank as the primary source of information, ahead of getting help from investors (16%), social media (13%), family (11%) and financial blogs (11%) or financial newspapers (11%).

My Thoughts

Many thanks to my friends from HSBC for allowing me to share and discuss their data and graphics.

I’m not surprised that many people are wary of investing, as the subject isn’t generally taught in schools and the huge number and variety of potential investments can be bewildering.

What I find a little more surprising (and concerning) is that many more people have investments in the form of stocks and shares (46%) rather than funds (25%). I suspect this may partly be to do with people having a few shares they acquired from the big privatizations of the past such as BT and British Gas. There may also be a number who have shares through employee share schemes. Nonetheless – as I said in this recent guest post for the popular Money Talk blog – as an investment individual shares are a lot more volatile and risky. If you are new to investing, I highly recommend starting off with a collective investment such as a tracker fund or robo-adviser platform (see below). This will give you much broader diversification, which helps mitigate the risks involved.

As I’ve said before, if you suddenly find yourself in possession of a large lump sum (perhaps through an inheritance) there is a strong case for seeking advice from a trained and experienced independent financial adviser. You might like to check out my blog post on why, despite being a money blogger and considering myself reasonably financially savvy, I still have an IFA myself.

If you just want to get started in investing, there are various low-cost and relatively low-risk options you could consider. Regular readers will know that I am a fan of the robo-adviser platform Nutmeg, with whom I have been investing since 2016. Even with the recent turmoil in the markets caused by the pandemic etc., I have made an overall return of 37 percent from my investments with them. You can read my in-depth review of Nutmeg here if you wish.

Another possibility might be the wealth-building platform Wealthyhood, which is aimed especially at novice investors. You can get started on this with as little as £20 – and right now they are offering a free ETF share worth up to £200 to new investors, which should get you off to a good start! You can see my blog post about Wealthyhood and their special offer here.

Of course, all investing carries a risk of loss, in the short- to medium-term especially. You should therefore always do your own ‘due diligence’ before investing and seek professional advice if in any doubt how best to proceed.

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

Disclaimer: I am not a professional financial adviser and nothing in this post should be construed as personal financial advice.

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UK Bloggers Fathers Day Giveaway

UK Bloggers Father’s Day Giveaway!

Summer is here, 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 18th.

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 pm on Sunday June 18th.

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…

Father’s Day Giveaway

And we’re back! This time to spoil your dad. We have a number of incredible prizes that will make his day! This is not only a giveaway but a gift guide to help you get ideas and inspiration for gifts for your dad (or other special man in your life) this Father’s Day. And for more ideas and inspirations check out these blog posts, The Ultimate Father’s Day Gift Guide and Frugal Father’s Day.

The Prizes

Treat Him Experience Box from Buyagift

Give your dad a fun and unique gift with the Treat Him Experience Box from Buyagift!

Buyagift has hand-picked the finest selection of Tasty Treat, Driving Blast and Adrenaline Adventure experiences to create the perfect gift for any man. From zorbing to supercar driving, gourmet dining to overnight stays, our lucky winner can treat their dad to a wonderful experience he will never forget!

Image One - Treat Experience

Hoover Cordless Vacuum Cleaner with ANTI-TWIST™ (Single Battery)

Make your dad’s life easier with this incredible prize! Not only will the Hoover Cordless Vacuum Cleaner with an anti-twist and single battery, make cleaning time quicker and easier, but it’s also a practical and useful present. With a Hoover, your dad can easily keep his home clean and tidy, without much effort. It’s a thoughtful way to make his daily routine easier and hassle-free. Plus, who doesn’t love a clean and fresh home? Our lucky winner can surprise their Dad with a Hoover, and watch him become the happiest dad with the cleanest house around!

Features:

    • NEW ANTI-TWIST™ floorhead
    • Up to 45 Minutes of Power
    • Space-saving design and stands unaided for easy storage
    • Converts instantly to a handheld with 2-in-1 dusting/upholstery tool
    • Lightweight and easy to use
    • Exclusive 3-year warranty with this product. Only available at Hoover Direct website, hooverdirect.co.uk

Hoover

Opinel Complete Picnic+ Set

The Opinel Picnic+ set is the ideal gift for busy dads who need to eat their meals on the go.

The set comes with:

    • A No. 08 knife
    • Two inserts (a fork and a spoon) that attach to the No. 08 knife
    • A microfibre towel case that is both a storage and cleaning device

The inserts are made of stainless steel, so they are nice and sturdy and hygienic (compatible with wooden handled N°08 knives, equipped with the Virobloc safety ring marketed since 2000). We have one picnic set for our lucky winner!

Picnic set

Silk Route Spice Company Grinders

This gift set is undoubtedly the perfect present for your resident chef or culinary friend, especially if they love French food as much as we do. The grinders contain carefully balanced mixtures of herbs and spices hand-selected by specialist chefs to impart a taste of France to any dish of your choosing, be it your homemade soupe a l’oignon or boeuf bourguignon.

The four mixes are: Herbs de Provence, Mustard & Garlic mix, Fine Herb Seasoning and French Quatre mix. Available from Amazon and donated by Dordogne Vie.

Disclaimer: As an Amazon Associate I earn from qualifying purchases

French spice gift set

The Bloggers

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

Working Mum Life | Boxnip | Pounds and Sense | Jenny in Neverland | We Made This Life | My Life Your Way | We Made This Vegan | Hannah and the Twiglets | My Money Cottage | Retro Vixen | Doodle Pooch | Clean Plates All Round | Wotawoman Diary | Catch Up With Claire | Synderella Slims | Lisa’s Notebook | Twins Tantrums and Cold Coffee | Evans-Crittens | Verily Victoria Vocalises | Joanna Victoria | Cats Kids and Chaos | Crazy Little Thing Called Love | Mum Diaries | Best things to do in Cambridge | Two Plus Dogs | Everything Enchanting | At Home With Alice | Life with Jupiter and Dann | Best Lodges With Hot Tubs | A Suffolk Mum | Sustainable Business Magazine | Koody | Testing Time | Pretty Core | Remote Working Guru | Based Cooking | Starting Today | Renovation Bay Bee | Anything and Everything Else | Money Making Quick

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. Good luck!

a Rafflecopter giveaway

Terms and Conditions

  • UK entries only
  • The giveaway will run from 11:45am 4th June 2023 to 11.45pm 18th June 2023.
  • 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, Twitter, YouTube, BlogLovin or Pinterest.
  • Prize open to over-18s only. Age verification may be required to receive some prizes.
  • 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 them.
  • 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 form. By entering this prize draw you will be deemed to 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.
  • The prizes won’t arrive in time for Father’s Day and there may be some delays in receiving prizes.

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

Father's day Giveaway

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Mothers Day Giveaway and Gift Guide

Mother’s Day 2023 Gift Guide and Giveaway!

Spring is in the air, so it’s time for another great giveaway on Pounds and Sense! This one is themed around Mother’s Day, which this year is on Sunday March 19th.

I have clubbed together with some of my fellow UK bloggers to provide a bumper bundle of prizes that will amaze and delight any mum! As you will see, they range from an adult micro scooter and helmet to a bamboo underwear set, a luxury silk pillowcase and eye-mask to a ‘home spa’ face-and-body gift set. 

The total value of all the prizes is over £550. And the best news is, it’s entirely free to enter!

This giveaway 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 this event, 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…

Mothers Day giveaway

And we’re back! This time to spoil your mum. Or perhaps you can win yourself some treats! We have over £550 worth of incredible prizes! This is not only a giveaway but also a great Mother’s Gift Guide to help you get ideas and inspiration for your mum or the special lady in your life this Mother’s Day.

KEEP SCROLLING DOWN TO ENTER AND FOR THE FULL LIST OF AMAZING PRIZES!

The Prizes

Adult Micro Scooter and Safety Helmet

Micro Scooters are renowned for producing the most robust scooters for all the family. From toddler ride-ons, three-wheeled wonders, 2 wheel scooters for older kids plus their multi award winning adult range, there is something for every member of the family.

Founded and run by two mums, Micro are B Corp certified. Their range of eco-scooters and accessories made from recycled bottles means more families can tread lightly on the planet.

Hopping on a two-wheeled adult scooter – whether it’s to do the school run, journey to work or for weekend family time – makes it easy and fun to get from A to B. Exploring the world on two wheels is a greener, cleaner and cheaper way to get around.

THE PRIZE

    • Any adult Micro scooter
    • Any adult Micro scooter helmet
    • Total prize value of £215

Microscooter

Cocoonzzz Silk Pillowcase and Eye Mask

At Belledorm, they understand the importance of a good night’s sleep. For over 45 years, this family-owned company has been dedicated to providing UK customers with exceptional bedlinen that helps them rest easy.

They don’t just sell bedding – they offer a solution. Sleep is the foundation of our daily lives, and the right bedding can make all the difference. That’s why they are passionate about providing soft, cozy, and luxurious sheets, pillowcases, and duvets that make you feel like you’re sleeping in a dream. From the moment you slip into bed, you’ll experience a sense of comfort and calm that carries you through the night and prepares you for the day ahead.

Here we are offering the chance to win a Cocoonzzz Silk Pillowcase and Eye Mask Bundle made from 100% pure mulberry grade A silk. Unlike cotton or linen, silk glides over your face and reduces the stretching and pulling that causes lines on the skin. Sleeping on silk has proven beauty benefits: it reduces lines and wrinkles, helps you wake with a hydrated glowing skin, and is hypo-allergenic and temperature regulating.

Treat yourself or your mum to the best!

Pillowcase

Buyagift: Treat Her Gift Voucher

Not sure what to get your mum? Look no further than Buyagift! The Treat Her Gift Voucher or Experience Box is the ideal gift, with a selection of over 2,955 afternoon teas, relaxing spa days and adrenaline adventures for her to choose from. We have one Treat Her Gift Voucher for our lucky winner.

For more gift ideas for your mum, check out Buyagift’s gift guide here: Mother’s Day Gift Guide 2023

Treat Her

Framed Best Selling Print of your choice from ink & drop

Win a framed Best Selling Print from Ink & Drop! Our lucky winner can choose a bestselling print of their choice in 50 x 70cm size.

There’s an incredible selection of unique prints to choose from in a range of different styles, from vintage antique prints, cheeky altered art paintings, pop art, dark decor, and street art graffiti prints.

Ink & Drop’s incredible posters will look amazing on any wall and best of all, the prize will arrive already framed, ready to hang straight on the wall!

Poster

Home Spa Face & Body Set With Cosmetic Bag – Mimosa & Petitgrain

Treat your mum with this gorgeous home spa face and body gift set which comes with a beautiful cosmetic bag. This gift set includes a luxurious combination of Pure Lakes Facial and Body Skincare products for an indulgent home spa experience. It includes a Face Mask, Salt Scrub and Body Butter. The Mimosa & Petitgrain blend has both a sweetness and woodiness that balance beautifully to really infuse the senses. The set includes:

    • Bentonite Clay x 25g
    • Rosehip Seed Soap Free Facial Cleanser x 30ml
    • Neroli & Geranium Flower Water Toner x 30ml
    • Mimosa & Petitgrain Salt Scrub x 80g
    • Mimosa & Petitgrain Shea Body Butter x 80m

Pure Lakes

 

Collagen Shots from Rejuvenated

Indulge mum this Mother’s Day with Rejuvenated’s multi-award-winning Collagen Shots. The brand’s multi-award-winning collagen drink contains the perfect blend of hydrolysed marine collagen (10,000 mg,) antioxidants, vitamins and hyaluronic acid to plump, smooth and hydrates the skin. The amazing formula also helps to promote healthy blood sugar levels, strengthen connective tissue, alleviate menopausal symptoms and support joint health. We have 30 servings of collagen shots for our lucky winner.

Collagen

Bamboo Underwear Set from Positive Outlook

Help all mums feel extra special this Mother’s Day with Positive Outlook. We have a gorgeous bamboo underwear set for our lucky winner. Our winner can mix and match bamboo briefs and bralettes in their desired size and colour for the perfect fit and style of their choice.

Positive Outlook’s underwear is not only extra comfortable and super stylish but also kind to the planet, making it the perfect gift for any mum who wants to secure a bright future for the planet and their children.

Underwear

Crystal Candle from Wakuda

This crystal candle was lovingly made to awaken your feminine energy and celebrate all that is beautiful within us. With the beautiful home scent of aqua blossom and coral this inner goddess crystal candle smells divine and instantly teases your senses, lifts and makes you smile.

~Snow Quartz~ This stone is known for its soft feminine energy that will align your chakras and balance your yin and yang. It is a stone that represents purity and will help you connect with and appreciate your inner goddess.

~Rose Quartz~ This is the stone of universal love and self-love. Connecting to the heart chakra, the rose quartz will promote inner healing and feelings of peace while dispelling negative energy and replacing it with loving vybz.

Inner Goddess candle

Signed Copy of Coming Home

One lucky mum can win a signed copy of Coming Home: A Guide to Being Your True Self. This gorgeous book aims to help readers break free of self-limiting beliefs and the expectations of others. It will help you rediscover your passions and become the person you really want to be. Along with Gillian’s own story, she sets out practical exercises for readers to try, Coming Home reveals how one ordinary woman turned her life around and how others can do the same.

* As an Amazon Associate I earn from any qualifying purchases

The Bloggers

This Gift Guide and Giveaway have been organised by My Balancing Act, a busy mum’s guide to getting the most out of your days, in collaboration with the family finance blog, Savvy Dad.

The amazing UK blogs behind this giveaway all offer fantastic content from parenting, finance and recipes to travel, days out and much more! Check their blogs out below for top tips and inspiration.

Life with Jupiter and Dann | Boxnip | The Mum Diaries | Evans Crittens | The Financial Wilderness | Working Mum Life | Anything and Everything Else | Cats Kids Chaos | Joyful Bite | Just Average Jen | Live the Easy Life | Travel Lover Blog | Gift Guides | Sister Lessons | Ask Me Up | Hannah and the Twiglets | Jenny in Neverland | We Made This Life | My Life Your Way | We Made This Vegan | Missljbeauty | Spillinglifetea | Rhian Westbury | My Money Cottage | Retro Vixen | Wotawoman Diary | Catch Up With Claire | Synderella Slims | Pounds and Sense | Things that start with | Things to do in Orlando | Florist or Flowershop | Luxury Hotels and Spa Life | Fruit Picking Farms | Restaurant Thailand | Life Loving | Kundalini Center | Georgina Caro | At Home With Alice | Best things to do in Cambridge | Two Plus Dogs | Geordie Grandma | Verily Victoria Vocalises | Victoria Welton Photography | Lisa’s Notebook | A Suffolk Mum | Sustainable Business Magazine | Kelly Allen Writer | Joanna Victoria | Rice Cakes and Raisins | Everything Enchanting | Crazy Little Thing Called Love | Twins Tantrums and Cold Coffee | The Money Making Mum

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. Good luck!

a Rafflecopter giveaway

Terms and Conditions

  • UK entries only.
  • The giveaway will run from 11:59 am on 7th March 2023 to 11.59 pm on 19th March 2023.
  • The winners will be notified by email from rowena@mybalancingact.co.uk
  • The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
  • This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter, YouTube, BlogLovin or Pinterest.
  • Prize draw open to over 18s only. Age verification may be required to receive some prizes.
  • 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 them.
  • 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. 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.
  • The prizes won’t arrive in time for Mother’s Day and 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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Silver Splitters - Divorce in Later Life

Silver Splitters: How to Navigate Divorce at a Later Stage in Life

Today I am pleased to bring you an expert guest post on a subject that unfortunately affects growing numbers of middle-aged and older people.

Separation and divorce can have a massive impact on your finances, so it’s important to be prepared and take advice as appropriate. Senior divorce lawyer Natalie Lester explains…


 

It’s always sad to see a marriage come to an end but it is particularly so when a couple have been together for 30 or 40 years. Unfortunately, divorce rates for those of retirement age are on the rise and our family law and divorce team have found a significant increase in the instructions received from those aged 55 and over.

There are several likely reasons for the increase, some of which include:

  • Life expectancy. People are living longer and many couples find they have grown apart by the time they get to their sixties and their children have left home. People often have many years ahead of them after they retire, and this can cause them to re-evaluate their life.
  • Reduced stigma. Throughout the 60s, 70s and 80s, there was a negative attitude and stigma towards divorce and divorcees. Today, we see a far more accepting attitude towards divorce in a more liberal society.
  • Female equality. In contrast to a few decades ago when women were far more likely to become housewives rather than pursue their own career ambitions, married women today often earn as much or even more than their husbands. Greater financial equality provides a greater sense of freedom so women of all ages are now more confident to end a marriage that has broken down.
  • Meeting new partners. This has become easier thanks to online dating websites and because retirees are more active in retirement., there is less fear that getting divorced will result in spending the rest of one’s life single and alone.
  • Menopause. This can be a particularly challenging time for couples and both partners can feel confused and concerned as they navigate the respective changes. Inevitably, it can highlight existing struggles, further damaging the connection between couples.

Divorcing and remarrying later in life typically involves added legal complexities. To address some of these, we have set out some top tips below:

Dividing assets on divorce after a long marriage

While it is always important that divorce settlements are divided fairly and in a mutually satisfactory manner, this issue is more crucial for older couples because after a long marriage, there is often a large matrimonial pot at stake. In addition, and in contrast to their younger counterparts, silver-splitters may be reliant on their pensions with no chance of acquiring new wealth through work. After a long marriage, assets are usually split 50/50.

The family home is often one of the most valuable assets in the matrimonial pot. There are various ways in which the court may decide to deal with this asset and it is important that you obtain legal advice to consider the options available. This will usually include selling the home and dividing the proceeds, transferring the property and buying the other spouse out or if there are multiple properties, one spouse retaining the home and the other spouse retaining another property. Court proceedings are a last resort and divorcing couples should take a constructive approach and consider all alternative dispute resolutions options to reach an agreement.

Like the family home, a couple’s pension is another key asset which needs to be divided up and the courts have extensive powers to deal with pensions upon divorce. One option (and the most common) is a pension sharing order. The order will state what percentage of your spouse’s pension pot you will receive. This share will be removed from the pension and placed into a pension in your sole name (some providers allow for internal pension transfers so that you can keep your pot within the same scheme). Pensions are a difficult area and you may need a pension expert to determine the real value of a pension pot and to advise on the various options. A good divorce lawyer will be able to advise on whether this is necessary.

Preparing for unforeseen circumstances

Loss of capacity. If one of you lacks capacity, then a litigation friend may be required. A litigation friend is someone who helps a “protected person” with their legal issues. This can be a parent, guardian, a family member or friend. If that is not possible, they will need to be represented by the Official Solicitor. The Official Solicitor acts for people who, because they lack mental capacity and cannot properly manage their own affairs, are unable to represent themselves and no other suitable person or agency is able or willing to act. It is important to consider who should step in as your litigation friend should you lose capacity to provide instructions to your lawyers. Your divorce cannot proceed until you have someone (other than your lawyer) acting on your behalf.

Wills. It is important to get a holding Will whilst you are going through the divorce process. If you were to die without a Will, the intestacy rules will kick-in. This would mean that your spouse would automatically inherit some or all of your estate. This is irrespective of the fact that you may be separated. A new Will should be drawn up once the divorce is finalised.

Protecting your wealth in new relationships including re-marriage

If a new relationship is on the horizon, it is important to think about getting a living together agreement drafted which will help protect your property should the new  relationship fail.

Likewise, If remarriage is on the cards, a prenuptial agreement should be considered because a future marriage breakdown could significantly impact your financial position and any commitments you may have to children from a previous marriage. A lawyer specialising in succession planning will also be able to advise you on how to ringfence assets you may wish to pass to your children.

It is always wise to pay extra attention to tax planning after a long marriage. We encourage our clients to speak to an accountant, who can help with tax planning early on in the process.

While there is a lot to think about when getting divorced at a later stage in life, readers should remember that with the right advice, the process can be straightforward. Where possible, we always advise our clients to keep lines of communication open with their estranged spouse and to aim for a “good” divorce. By being open about your plans and finances, you are more likely to stay on amicable terms with your spouse which will benefit your wider family including any children, no matter how grown up they are! This will also help you to move the process along, not only saving time and money on legal fees, but also enabling you both to start what can be an exciting new chapter in your lives.

Natalie Lester is senior lawyer in the family law and divorce team at Debenhams Ottaway and can be reached at nl@debenhamsottaway.co.uk


 

Thank you to Natalie Lester (pictured below) for a clear and informative article about this emotive topic.

Natali

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

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Summer Prize Giveaway 2022

Summer Prize Giveaway from Top UK Bloggers!

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

I have joined forces with some of my fellow UK bloggers to bring you the chance of winning a fantastic MSpa Hot Tub with £100 toward the running costs along with a range of other great prizes as well (details below).

After the last couple of years years we all need and deserve a treat, so here’s your chance to grab not just one but a selection for free!

This giveaway has been organized by my colleague Rowena from My Balancing Act, so I should like to thank her very much for this. More details provided by Rowena herself, along with instructions on how to enter, can be found below…

Summer Prize Giveaway

Over 50 top UK bloggers have come together to offer one lucky winner an amazing prize package to ensure your summer will be spectacular! We have an MSpa Hot Tub with £100 towards running cost as well as some other lovely prizes for one lucky winner…read on to find out more!

The Prizes

An MSpa Aurora Hot Tub with £100 to go towards running costs

MSPA Hot Tub

Thanks to the incredibly generous folk at MSpa, our lucky winner will receive a stunning MSpa Hot Tub worth £949.99. The MSpa Aurora Urban Series U-AU061 features a striking black out-wall fabric with six colour light design. The transparent inner wall is printed with silver stripes, creating an elegant look even in the daytime. And at night, when the light is on, it will look incredible in your garden!

The MsSpa Auroa Urban Series U-AU61 comes with:

  • All-in-one control box and wired controller
  • Heat tech anti-icing system
  • Three levels of bubble speed
  • 03 ozonator to kill odors and bacteria
  • Energy saving timer
  • Smart filtration
  • Child safety lock function
  • Antibacterial fabric
  • UVC sanitiser

Not only that, we will give you £100 towards the running costs of your hot tub!

https://www.youtube.com/watch?v=GXu2ogn-wNQ

 

Amazing Garden Toy Bundle from Jaques of London

Garden toy wooden skittles

Now for the kids. To keep them happy this summer our friends at Jaques of London are offering our winner the below prizes:

  • 1 x swing
  • 1 x skittles game
  • 1 x rapid rocket
  • 1 x gardening set

Jaques of London has been inventing and making toys and games since 1795. They care about our children’s future and create games that nurture children’s development and education. Not only that, but they also care about the environment. Their toys are sustainably and ethically sourced, with each order being replanted into new trees.

Citronella and Lemongrass Soy Candle and Room Spray insect repellent

Citronella spray

Get rid of those pesky bugs with the help of a Citronella and lemongrass soy candle and spray from Lumiescents.

We love summer but we do not love the pesky insects that come with it! That’s why we are offering our winner this max strength blend of insect repelling essential oils Citronella & Lemongrass from Lumiescents. Our winner will receive this as a room and linen spray and as a beautiful soy wax candle. Perfect for those summer walks, or lazy back garden bbq’s.

The insect repellent from Lumiescents are a summer must have.

Melomania 1+ True Wireless In-Ear Monitors (in white)

Headphones

We have the Melomania 1+ wireless in-ear headphones in white for our winner, which feature custom-designed 5.8mm Graphene-enhanced drivers. You can listen to all your favourite tunes whilst out and about this summer.

The Bloggers

Working Mum | Renovation Bay Bee | Adventures of a Yorkshire Mum | Life Loving | Socially Rach | Kundalini Center | Tired Mummy of Two | Exploring Dorset | Wotawoman Diary | Catch Up With Claire | The Amazing Adventures of Me | Norwich Family Fun | East Anglia Family Fun | Great Holiday Cottages | Glamping or Camping | At Home With Alice | Best Things To Do In Cambridge | We Made This Life | My Life Your Way | Rhian Westbury | Petals & Planes | Nine to Three Thirty | A Little Luxury For Me | My Healthy Temple | Everything Enchanting | A Guide to Gifts | Life of a Fishermans Wife | My Three and Me | Spilling Life Tea | Miss L J Beauty | ecoralive | Bluebearwood | Cats Kids and Chaos | Make Money Without A Job | Reduced Grub | Mom Of Two Little Girls | The Mum Diaries | Just Average Jen | Midnight Review | Live the Easy Life | Travel Lover Blog | The Grumpy Olive | The Spaghetti Sisterhood | Kelly Allen Writer | Missing Sleep | Fruit Picking Farms | Things that Start With | Best Things To Do In York | On Your Journey | Luxury Hotels and Spa Life | Mummyandmex2 | Pounds and Sense | Jenny in Neverland | Verily Victoria Vocalises | The Money Making Mum

How to Enter

You can enter the Summer 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. Good luck!

 

a Rafflecopter giveaway

Terms and Conditions

  • UK entries only
  • The giveaway will run from 6pm 31 July 2022 to 11.59pm 14th August 2022.
  • 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, Twitter, YouTube, BlogLovin, Pinterest or any other social network.
  • Prize open to over 18s only.
  • If any prizes are out of stock then we will do our best to find a suitable replacement but can not 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 RoyalMail 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.
  • We will do our best to get the prizes to you as soon as possible but cannot guarantee a date and there may be some delays.
  • 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 the brands and bloggers websites and announced on twitter and other social media channels. By entering this prize draw you give your permission for this.

Good luck, and I really do hope a Pounds and Sense reader wins this amazing prize collection!

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Review: Grandpa's Fortune Fables

Review: Grandpa’s Fortune Fables

Today I am reviewing a children’s book called Grandpa’s Fortune Fables. An ebook copy of this was kindly sent to me by the author, Will Rainey.

Grandpa’s Fortune Fables contains a series of short stories, each following from the last. The central character is a 13-year-old girl called Gail. Over the course of the book she shares a number of lessons she has learned from her Grandpa about money with a boy named Boris (no relation to our PM, I’m sure!).

Boris starts off by bullying Gail, whom he calls a ‘dork’, but she stands up to him and in time they become friends. Gail shares her Grandpa Jack’s money-saving and money-making advice with Boris. He is eager to learn, as his family have always been bad with money.

We learn that Gail’s Grandpa travelled  to a (mythical) far-away island, where he learned how to look after his money and became a very wealthy man. Gail has been following his advice and even at her young age is now quite wealthy herself.

Each chapter is essentially a fable illustrating one particular lesson Gail learned from her Grandpa. So one concerns the dangers of Get Rich Quick schemes, another the importance of saving and reinvesting your money, and so on. There are also chapters on the subject of paying tax (‘The Money BIrds’) and the value of donating some of your money to charity.

At the core of Grandpa’s Fortune Fables are three key principles. I hope Will won’t mind if I reproduce them below:

1. Keep one out of every ten seeds you receive
2. Plant the seeds you keep
3. Let your trees GROW

As you may gather, the fables in the book all derive ultimately from the application of these three principles.

Grandpa’s Fortune Fables is designed to teach children about saving, investing and entrepreneurship in an entertaining but informative way (and parents/grandparents may learn some useful lessons too). The stories are all very much of the here and now – even the pandemic and lockdowns get a brief mention (to illustrate how unforeseen events can impact upon specific investments). It’s all very cleverly written, with some charming cartoon-style illustrations as well (see example below).

In my view Grandpa’s Fortune Fables would make a great Christmas/birthday gift for any child aged around 8 to 12 (it could also work for younger and older children). I like how each chapter ends with questions to provoke further thought and discussion. In addition, by correctly answering the multiple-choice questions in each chapter, a letter is revealed. If the child gets all the letters right, they spell out a message which can win them a prize. This is a great idea and a good incentive for reading every chapter (not that such an incentive would likely be needed).

Grandpa’s Fortune Fables is available in print or e-book versions from Amazon (just click on any of the links in this review), or you can order it from any good bookshop. At the time of writing the price is £9.99 for the print version or £3.99 for the e-book. I note that this title is currently number one on Amazon’s best-seller list for children’s books about money and saving, which doesn’t surprise me at all.

Thanks again to Will Rainey for sending me a review copy of his excellent book. If you have any comments or questions – for me or for Will – please do post them below.

Disclosure: As mentioned above, I received a free ebook version of Grandpa’s Fortune Fables for review purposes. In addition, this review includes Amazon affiliate links. If you click through to Amazon and make a purchase, I will receive a small commission for introducing you. This will not affect the price you pay or the product/service you receive.

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Ten Tips for Saving Money on Your Supermarket Shopping

Ten Tips for Saving Money on Your Supermarket Shopping

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

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

Make the Most of Loyalty Cards

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

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

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

Discount vouchers

Shop Late in the Day

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

Use Cashback Sites

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

Plan Your Meals Ahead

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

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

Shop Online

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

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

Search for Money Off Coupons and Vouchers

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

Try Own-Brand Products

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

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

Use Discount Supermarkets and Stores

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

Make Money From Your Receipts

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

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

Grow Your Own Food!

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

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

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

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

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Junior ISA Benefits

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

Updated 21 May 2024

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

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

What Types of JISA are There?

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

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

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

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

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

Which JISA is Best?

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

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

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

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

What About Child Trust Funds?

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

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

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

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

The Nutmeg Junior ISA

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

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

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

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

Closing Thoughts

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

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

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

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

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

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

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

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

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