November 5, 2024

My Investments Update – November 2024

Nick Making Money events, reviews 0 Comments

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

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £24,799 (rounded up). Last month it stood at £24,625, so that is an increase of £174.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,988 (rounded up) compared with £3,954 a month ago, a rise of £34. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from referral bonuses. As you can see from the YTD screen capture below, this portfolio is now worth £789 compared with £781 last month, a small rise of £8.

As you can see, October was another decent month for my Nutmeg investments, though the last few days saw a bit of a dip. The overall value has risen by £216 or 0.75% since the start of October. They are also up by £3,261 or 11.62% since the start of the year.

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

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

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

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £833 invested with them in 7 different projects paying interest rates averaging around 7%. I also have £40 in my Kuflink cash account.

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

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

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

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

Note that after this month I will not be including Kuflink in my monthly updates. I am gradually winding down my portfolio with them, as part of the de-risking process for my investments as i get older. As I’ve said above, I have no particular issue with Kuflink, though I do think increasing their minimum investment was unfortunate for the reasons stated above. But I still recommend them if their offering suits your investment strategy and risk appetite.

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

Since I opened my account, my AE portfolio has generated a respectable £215.02 in revenue from rental income. Capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 13 of ‘my’ properties are showing gains, 4 are breaking even, and the remaining 17 are showing losses. My portfolio of 34 properties is currently showing a net decrease in value of £43.61, meaning that overall (rental income minus capital value decrease) I am up by £171.41. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate]. Bear in mind that, as from this financial year (2024/25), you can open more than one IFISA per year.

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,271.89 an overall increase of $249.63 or 24.42%.

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

As you can see, my Oil WorldWide investment is showing 5.09% profit. That’s a bit underwhelming, but at least it’s a profit! Obviously my copy trading investment with Aukie2008 has been doing much better.

You might also notice that I have small holdings in Prosus NV, a Dutch internet group, and South Bow, a Canadian energy infrastructure company. To be honest I don’t understand how I acquired these, but I assume they are some sort of bonus I have been awarded. In any event, I am happy to have them in my portfolio!

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

I had two more articles published in October on the excellent Mouthy Money website. The first is How to Cut Your Energy Bills This Winter. With the coldest winter months fast approaching, energy bills can quickly become a significant financial burden. So in this article I set out some tips to help you reduce your energy costs and keep your home warm without breaking the bank.

Also in October Mouthy Money published my article Always Wanted to be in the Movies? Let TV Studios Use Your Home for Money. As I explained in this, you definitely don’t need to live in a stately home to profit from this opportunity. A huge range of properties is required, so wherever you live there’s a chance it could be the perfect location for an upcoming project.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. From the variety of articles published in October, I particularly enjoyed How to Prepare for a Frugal Winter by regular MM contributor Shoestring Jane. Jane writes mainly about money saving and frugal living. You can see all of her articles for Mouthy Money via this web page.

I also published (or republished) several posts on Pounds and Sense in October. Some are no longer relevant, but I have listed the others below.

In Here’s Why I’m Not Doing EDF Energy’s ‘Sunday Saver’ Challenge I set out my reasons for being dubious about this particular money-saving opportunity. This post has actually generated more comments than any before from readers sharing their experiences. If you’re considering doing this challenge (or a similar one from another energy company) I strongly recommend reading what others are saying about it. I must admit that having seen all the comments (those from Harry especially!) I am now more enthusiastic than I was originally, and will be giving it a try in November. Watch this space!

My post on How to Prepare for Winter Blackouts revealed my reasons for believing winter blackouts are increasingly likely in the UK, from government energy policies to the conflicts in Ukraine and the Middle East. I set out a range of tips to ensure that you and your family are well-prepared should the worst happen.

In Will You Get the Warm Home Discount? I discussed this scheme which provides people on low incomes and/or certain means-tested benefits with a discount of £150 on their electricity bill. This is a one-off payment that will be credited to your electricity account by March 2025 (you won’t receive it in cash). The 2024/25 scheme has recently launched, and in this post I revealed who may be eligible.

In my post Should You Take a Lump Sum From Your Pension Now? I looked at the pros and cons of taking a tax-free lump sum from your pension. Retirees can typically withdraw 25% of their pension pot as a tax-free lump sum once they reach the age of 55. At the time I wrote this there was much speculation whether this tax-free allowance would be removed or reduced by Chancellor Rachel Reeves in her budget. That didn’t happen, but you might still find this article informative if taking a lump sum from your pension is on your agenda sometime soon.

My Review of the Simba Orbit Weighted Blanket was a sponsored post. I was sent this product free of charge by my friends at Simba Sleep. In this post I revealed what I thought of it.

And in Twelve Great Christmas Gift Ideas for Older People (That Aren’t Socks) I set out 12 suggestions for presents for older friends and relatives that – based on my experience as an older person myself – should put a smile on their faces! If you’re struggling for ideas for gifts for older friends and relatives, check this out 🙂

Lastly – as referred to earlier – in October we had Labour Chancellor Rachel Reeves’ first budget. This seemed a very long time coming and was the subject of much speculation – and no small amount of dread – beforehand.

My initial reaction was that it wasn’t as bad as it could have been. Several of the possible measures that had been touted didn’t happen. That includes cuts to the £20,000 annual tax-free ISA allowance, the ending of the old person’s bus pass, and the scrapping of the 25% council tax discount for single-person households. The last two in particular would have been very bad news indeed for older people on top of losing (in many cases) their Winter Fuel Payment. Thankfully these things haven’t happened (yet).

Also on the plus side, the additional investment in the NHS is obviously welcome, though in my view this does need to be accompanied by structural changes to boost efficiency and productivity.

On the minus side, although Reeves presented this as a budget for growth, the rise in employers’ National Insurance contributions and other changes brought in by Labour seem more likely to have the opposite effect. They will discourage investment in the UK and potentially lead to job losses as well. Farmers were particularly hard hit by inheritance tax changes. These will potentially generate huge tax bills for family farms and may result in thousands having to sell up. Any farmers among my readers have my sympathy and support.

We will obviously see how things pan out over the coming months and years, but I can’t say I am particularly optimistic over the direction in which this country is heading. In particular – as regular readers will know – I have serious concerns over the effect the government’s reckless pursuit of ‘Net Zero’ will have on our energy security and standard of living. In my view, far more effort should be put into adapting to the effects of climate change, rather than wasting billions on pie-in-the-sky virtue-signalling schemes such as carbon capture machines and giant flywheels. Okay, I’ll get off my soapbox now!

As always, if you have any comments or queries about this update, feel free to leave them below. I am always delighted to hear from PAS readers

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

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October 23, 2024

My Review of the Simba Orbit™ Weighted Blanket

Nick Everything Else events, reviews, shopping 1 Comment

I was recently offered the chance to review the Simba Orbit™ weighted blanket (see cover photo). This is a premium weighted blanket from the well-known Simba Sleep brand.

Weighted blankets are a growing trend right now. They purport to help reduce anxiety, promote relaxation and improve sleep. Naturally I was pleased to have the opportunity to test this out for myself.

The Simba Orbit™ blanket is available in various sizes and weights. I received the 15 lb (6.8 kg) single bed version. For reasons to be discussed, in my view this would also be perfectly suitable if (like me) you normally sleep on your own in a double bed.

Even though I got the lightest version, I was still quite surprised how heavy it was. It comes with a machine-washable cotton cover and I got a decent workout just putting the blanket in! The cover and the blanket itself are a rather nondescript brown. It might be nice to have a choice of colours to suit your decor. That’s only a minor criticism, though.

The blanket is filled with tiny weighted-glass nano-beads. These are stitched evenly into small pockets (see picture below) to prevent clumping. I can confirm that they don’t appear to move around in the night, neither do you hear any noise from them. As they say on the Simba sales page, ‘Together they form a soothing layer that rests gently over your body, giving you a feeling of light, comforting pressure.’ The blanket and cover are also designed for maximum breathability, so the blanket feels warm in winter but cool in summer.

The theory behind the Simba Orbit™ weighted blanket (and weighted blankets generally) is Deep Pressure Therapy (DPT). This is an actual, scientific thing, with academic studies to back it up.

DPT is a calming process activated through a physical stimulus – like a hug, or the application of some sort of gentle pressure across the body. Some studies have suggested that this pressure works by helping your nervous system switch off its ‘fight or flight’ system (sympathetic) and move to its ‘rest and digest’ system (parasympathetic).

Simba say the Orbit™ weighted blanket is designed to replicate that feeling of soothing pressure. They suggest thinking of it as your ‘off switch’ – a switch that helps regulate your heartbeat, relax your muscles and set your mind at rest.

My own experience confirms this. Admittedly it took a night or two to get used to, but I did then notice I was sleeping longer and deeper and feeling more refreshed when I woke up. One thing that impressed me was how the blanket stays in place and doesn’t move around or slip off the bed once it’s in position. That is why I think the single version is also suitable for people who sleep alone in a double bed. Personally I found it worked best (and felt most comfortable) if I positioned it over the lower half of my body rather than up to my neck/chest. Your experience might be different, of course.

Clearly, weighted blankets won’t be right for everyone. In particular, as SImba themselves say, they aren’t suitable for children, the elderly or anyone suffering from breathing difficulties or circulatory issues (including diabetes). In cases of pregnancy and kidney issues, you are recommended to consult your doctor before use.

If you’re stressed and anxious and finding it hard to unwind, however, then based on my experience this weighted blanket is well worth a try. You can order direct from the SImba Orbit™ weighted blanket web page while stocks last. You can get free next day delivery if you order before 2 pm on the UK mainland, with interest-free finance options also available.

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

Disclosure: As stated above, I received a free Simba Orbit™ weighted blanket in exchange for reviewing it here. This has not influenced my review in any way.

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October 9, 2024

Here’s Why I’m Not Doing EDF Energy’s ‘Sunday Saver’ Challenge

Nick Saving Money, Everything Else energy, events, reviews, property 41 Comments

Recently my energy supplier, EDF Energy, has been sending me invitations to sign up for what it calls its ‘Sunday Saver’ challenge.

The way this works is that you sign up to shift some of your electricity usage on weekdays away from peak hours (4pm-7pm). When you hit your target (which is set individually for each user by EDF), you earn free electricity the following Sunday.

EDF say, ‘The more you shift, the more you earn – reduce your weekly peak usage by 40% and you could earn up to 16 hours of free electricity per week.’

The challenge is due to take place monthly, starting on the first Monday of each month.

At first glance you might think this is a good offer. But as I have looked into it more, my doubts have grown. Here are my main reservations…

To benefit from this scheme you have to cut your daily energy usage every weekday between 4pm and 7pm. That’s quite a long period (three hours), and coincides with when I would normally be cooking my evening meal. To have any realistic chance of cutting my energy use during this time, I would have to eat either ridiculously early or significantly later than normal. For various reasons, including my health, I prefer to eat between 6 and 7 pm and no later. So that in itself is a big ask and would impact drastically on my normal routine.
Free electricity on Sunday sounds great, but the devil is in the detail. EDF say that you will get ‘up to 16 hours’ of free electricity if you meet their targets, but are very vague about what this means in practice. Specifically, they don’t explain how your energy-saving targets are calculated, how any reduction in usage translates to free hours, or when on Sunday you will be able to use the free electricity awarded.
In addition, they say there are ‘fair usage’ limits to how much free electricity you can have. Again, they are vague about what this means in practice. The obvious way to use your free electricity would be to charge your EV, and I strongly suspect limits would be placed on this. As for me, I don’t have an EV and don’t want one, so my options for benefiting from the free electricity would be limited. I could shift use of appliances like my washing machine to Sunday but doubt if I could save more than a few kw/h this way (obviously the exact number would depend on how many free hours I was allocated, which is anyone’s guess). That means my free electricity would likely benefit me by no more than a pound or two.
Lastly, as a solar panel owner I already get some free electricity anyway. My panels obviously generate less in the winter, but during daylight hours they still produce something. That means any benefit from free electricity on Sundays will be reduced, especially if (as is likely) the free hours are in the day rather than at night.

Overall, then, I am not much enamoured of EDF’s Sunday Saver challenges and won’t be signing up. Ultimately, I am not prepared to make major changes to my day-to-day schedule in pursuit of what will likely be (in my case anyway) minuscule rewards.

Obviously some will see this differently and I wish them well. And it’s good that EDF (and other companies) are exploring ways to help customers reduce their bills. I do just think this particular one – for me anyway – is a non-starter.

I would be interested to hear any comments from people doing this challenge (or similar ones from other energy companies) as to whether they find it worthwhile, and whether the benefits really do justify the changes you are required to make.

I do still recommend EDF Energy based on my personal experiences with them. And as I’ve said before on PAS, I can offer anyone switching to EDF £50 off their bills if they use my refer-a-friend link at https://edfenergy.com/quote/refer-a-friend/sunny-koala-9462 when applying. I will also get £50 off my bill if you do this, which is duly appreciated 🙂

UPDATE 22 OCTOBER 2024 – I am indebted to the readers (especially Harry!) who have taken the time to comment on this article and address some of the points raised in my original post. Based on this I have changed my views somewhat and am considering registering for the scheme when it reopens in November. If you’re still wondering whether to take the plunge, please do take the time to read the comments as (like me) they may influence your decision. I will publish an update in due course if I proceed with it next month.

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October 3, 2024

My Investments Update – October 2024

Nick Investing events, reviews 0 Comments

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

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £24,625. Last month it stood at £24,525, so that is an increase of £100.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,954 (rounded up) compared with £3,937 a month ago, a rise of £17. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the YTD screen capture below, this portfolio is now worth £781 compared with £772 last month, a small rise of £9.

As you can see, September was another decent though unspectacular month for my Nutmeg investments. Their overall value has risen by £126 or 0.43% since the start of September. They are also up by £3,045 or 11.57% since the start of the year.

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

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

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

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £833 invested with them in 7 different projects paying interest rates averaging around 7%. I also have £40 in my Kuflink cash account.

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

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

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

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

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

Since I opened my account, my AE portfolio has generated a respectable £208.97 in revenue from rental income. Capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 11 of ‘my’ properties are showing gains, 5 are breaking even, and the remaining 17 are showing losses. My portfolio of 33 properties is currently showing a net decrease in value of £42.75, meaning that overall (rental income minus capital value decrease) I am up by £166.22. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate]. Bear in mind that, as from this financial year (2024/25), you can open more than one IFISA per year.

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,305.31 an overall increase of $283.05 or 27.69%.

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

As you can see, my Oil WorldWide investment is showing 7.30% profit. That’s okay but not spectacular. Obviously my copy trading investment with Aukie2008 has been doing much better. The Oil WorldWide port was recently rebalanced by eToro, so I hope this may boost its performance. The investment team at eToro periodically rebalance all smart portfolios to ensure that the mix of investments remains aligned with the portfolio’s goals, and to take advantage of any new opportunities that may present themselves.

As a matter of interest, since I wrote the above war has effectively broken out in the Middle East. This has led to fears that oil supplies from the region will be compromised and the price of oil will rise. As a consequence of this (I assume) the value of my Oil Worldwide investment has gone up. I say this not to gloat over the tragedy that is unfolding in the area, but to highlight the fact that a diversified portfolio can often help to hedge against economic downturns resulting from world events.

You might also notice that I have a small holding in Prosus NV, a Dutch internet group. To be honest I don’t understand how I acquired this, but it may be connected to my copy trading investment with MIke Moest (who is Dutch). In any event, I am happy to have it in my portfolio as well!

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

I had three more articles published in September on the excellent Mouthy Money website. The first is Are Electric Boilers Better Than Heat Pumps?. As you doubtless know, the government are pushing heat pumps hard as a means of achieving their Net Zero goals. They are definitely not a one-size-fits-all solution, though. In this article I highlighted an alternative that may be more suitable for some, electric boilers. These are cheaper, smaller and quieter than heat pumps (though their running costs may be higher). You can read all about the pros and cons of heat pumps versus electric boilers in the article.

Also in September I revealed How to Get Free Stuff Online. In this article, I explained how you can get your hands on a wide range of freebies online, from samples and giveaways to promotional offers and rewards programmes – all without having to spend a single penny!

Finally, in September I discussed How to Save Money With Cashback Sites. If you ever buy anything online, you can almost certainly save by signing up with these sites. In this article I revealed how they work and set out some hints and tops for making the most of them.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. From the variety of articles published in September, I particularly enjoyed Secondhand September: Good for Your Purse and the Planet by regular MM contributor Shoestring Jane. Jane writes mainly about money saving and frugal living. You can see all of her articles for Mouthy Money via this web page.

I also published (or republished) several posts on Pounds and Sense in September. Some are no longer relevant due to closing dates having passed, but I have listed the others below.

In Can You Still Make Money From Matched Betting? I discussed this tax-free money-making opportunity. As I said in the article, this is something I did for several years and earned about £3,000 from. I am not doing it nearly as much these days, for reasons explained in the article. But if you’ve never done it before, I do still highly recommend it as a way of making some quick tax-free cash. The article explains what matched betting is and how to get started.

The price of stamps is rising again on Monday 7 October 2024. That is the second price rise this year, after they also went up in April. So in How to Beat the Postage Stamp Price Rise, I revealed just how much (some) prices are rising and suggested ways to mitigate this.

In case you didn’t know, October is Free Wills Month. So in Get Your Will Written Free of Charge in October, I discussed how you can use this no-strings scheme to get your will written free at a range of participating solicitors across the UK. There are only limited slots available, so I recommend moving quickly if you want to take advantage of this opportunity.

Also in September I published How to Save Money on Your Heating Bills This Winter. As you doubtless know, gas and electricity bills have gone up considerably in the last year or two. And many older people will no longer get Winter Fuel Payments, as the new Labour government have opted to restrict this to just the very poorest pensioners (those in receipt of Pension Credit). So in this article I set out a range of ways you may be able to save money on your heating and energy bills. Following these tips could save you hundreds of pounds in the months and years ahead.

Finally, I published Amazon Big Deals Day is Almost Here. This annual event extends over two days, Tuesday 8th and Wednesday 9th October 2024. It is is a special event for Amazon Prime members only. Amazon say they will be offering members their lowest prices of the year on selected products from leading brands including Philips, Logitech, Oral-B, Braun, Tefal, Ghd, Swarovski, Bosch, Shark, and so on.

Next, some odds and ends. First up, Trading 212 recently reopened their free share offer, so I have updated my post Get a Free Share Worth Up to £100 With Trading 212. This explains how, if you haven’t done so already, you can get a free share when you open a new Invest or Stocks ISA with Trading 212. Note that opening a Cash ISA with T212 alone will not qualify you for a free share, but of course you can do both. My advice is to start by opening a Stocks ISA or (non-ISA) Invest account to qualify for your free share and apply (if you wish) for the Cash ISA after that. This new free share offer closes on 6 November 2024.

A few months ago I invested just over £1,000 in a Scottish wind farm project via a platform called Ripple Energy. The way this works is that you pay a fee towards building the wind farm, and in exchange receive lower-cost, ‘green’ electricity once the wind farm is up and running. This will continue for the life of the wind farm (an estimated 20 years). The original closing date for this was the end of May, but the date was extended and the share offer is still open at the time of writing. You can pay by 12 monthly instalments rather than a single lump sum if you like. If you’re interested in learning more, you can visit the Ripple website via my referral link. If you decide to invest, you will get a £25 bonus credited to your account when generation starts (and so will I). Note that you will need to invest a minimum of £1,000 to qualify for the £25 bonus, but you can invest from as little as £25 if you wish.

Speaking of energy, a quick reminder that if you switch to EDF Energy via my refer-a-friend link (below) you can get a FREE £50 credited to your energy account (and so will I). For more info and to sign up, click on https://edfenergy.com/quote/refer-a-friend/sunny-koala-9462

Finally, I wanted to highlight (again) the decision by the new government to abolish Winter Fuel Payments for all pensioners except those on pension credit. Like many others, I feel this is a terrible decision that will badly impact some of the poorest people in society and quite likely lead to increased deaths by hypothermia in the winter ahead (and others to follow).

it is therefore more important than ever that older people who may be eligible for pension credit apply for it. I recently updated my blog post about pension credit in light of the announcement. If you have older relatives, friends or neighbours, please encourage them to apply if they may be eligible. The application process is not as straightforward as it should be, so they may well appreciate some help with it

Even so, be aware that only the very poorest pensioners qualify for pension credit. If you get the full new state pension, even with no other source of income, you likely won’t qualify. I do therefore recommend writing to your MP and asking for this Draconian decision to be reversed. You may also like to sign one of the various petitions that have sprung up, including this one on Change.org and this one from Age UK. The former has over 100,000 signatures now and the latter over half a million.

That’s all for now. If you have any comments or queries about this update, as ever, feel free to leave them below. I am always delighted to hear from PAS readers

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

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September 24, 2024

Get a Free Share Worth Up To £100 With Trading 212

Nick Making Money, Investing reviews 4 Comments

Offer reopened 24 September 2024!

Today I’m featuring a way you can get a free share worth up to £100 by signing up with an online share trading platform called Trading 212.

Trading 212 is unusual in that it offers commission-free and fee-free share trading. As a special offer, until Wednesday 6th November 2024 they are offering people new to the platform a free share just for signing up via a referral link (such as the links in this post). The share you will get is chosen at random, but could be worth up to £100. You can either keep this share or sell it.

How to Sign Up

Signing up with Trading 212 is pretty straightforward. Just visit the Trading 212 website via any of the (referral) links in this post and follow the on-screen instructions to register. Note that you will be required to provide various items of information, including your date of birth, National Insurance number, annual income, employment status, and contact details. I understand that this is to meet their legal ‘Know Your Customer’ duty.

You will also need to indicate the type of account you want from the options available (see screen capture below).

As you will see, the four account types on Trading 212 are Invest, CFD, Stocks ISA and Cash ISA. You can apply for any or all of these if you like.

CFD stands for Contract for Difference. CFDs are quite complex financial instruments, and unless you know what you’re doing I recommend giving them a miss.

If you just want the free share my suggestion would be to tick the Stocks ISA box. An ISA is, of course, a tax-exempt Individual Savings Account. As from April 2024 you can open any number of ISA accounts in a year as long as you don’t exceed your annual £20,000 allowance.

If you have already used up your entire £20,000 this year, you should choose Invest instead to open a general investment account without any tax benefits. Obviously if you don’t want a Stocks ISA with Trading 212 for any reason, you can choose this option as well.

For more information about the new Trading 212 Cash ISA, see my review here. Be aware that you must open either an Invest account or a Stocks ISA account to qualify for a free share. Of course, there is nothing to stop you opening a Cash ISA account as well, but my recommendation would be to open an Invest or Stocks ISA account first.

Getting Your Free Share

There is one more step you will need to take in order to get your free share. You will need to deposit a minimum of £1 into your account. There are various ways you can do this, but i just used my debit card. There is no obligation to invest the £1 (or whatever you choose to deposit) and if you wish you can withdraw it once your free share has been credited.

The next business day you should receive an email confirming that a free share has been added to your account. As mentioned above, this is allotted at random. If you’re lucky you might get one worth up to £100. Even if you get a less valuable one, though, it’s still a share for free. If you choose to keep it, it may rise in value. There may also be dividends payable in future (and credited to your account).

Already have a Trading 212 account? You can also get a free ETF share worth up to £200 (and now guaranteed to be worth at least £10) with new DIY wealth-building app Wealthyhood. A minimum investment of £50 is required to get the free share (although if you’re not bothered about this you can start investing on the platform with as little as £20). Click through here for more info.

Selling Your Share

You can’t sell your share immediately. You have to wait three business days before doing so, but it is then just a matter of clicking the Sell button on your member’s dashboard.

The money will be credited to your Trading 212 account but you will have to wait 30 days before withdrawing it. So there may be a case for waiting to see if your share’s value goes up in that time. Of course, it could also go down!

In my case, I received a free share in the Ford Motor Company worth just under £8 at the time. Obviously this wasn’t as exciting as I might have hoped, but it was still – in effect – free money for almost no time or effort 😀

How Safe Is Trading 212?

Trading 212 is registered in England and Wales and authorized and regulated by the Financial Conduct Authority. In addition, all clients’ funds are kept separately in segregated bank accounts which are covered by the Financial Services Compensation Scheme. So even if the company itself were to go broke, any cash in your account would be protected up to a value of £85,000.

Of course, the FSCS guarantee doesn’t apply to the value of your stocks and shares, which can go down as well as up. All investments carry a risk of loss, although in the case of your free share you can never lose any more than the original cost, which was of course zero!

Referral Scheme

Any Trading 212 member can also refer new members. In this case, both you and the person concerned will receive one free share worth up to £100. Obviously, the links in this blog post include my referral code – so if you register and get a free share, I will receive one also. Under the terms of the current offer you can get up to five free shares in this way. Five is the limit per person. Although you can still refer new members who will get a free share after this, as a referrer you won’t receive one as well.

Final Thoughts

I first heard about Trading 212 a while ago, but wasn’t initially sure whether it was legit and here for the long term. And I thought the free share offer was, frankly, too good to be true. However, my own experiences have been entirely positive. My original free share in the Ford Motor Company was credited the next business day as promised and I received an email notifying me about it.

I can log in to my Trading 212 account any time to see how my Ford share is doing. I have also collected a few other shares from referrals as well. These include a share in AMD (the semiconductor company), which is currently worth £117.92, and one in Nike, which is worth £105.83. I still have my original Ford Motor Company share and it has risen in value to £8.16. I also received an annual dividend payment from them a while ago. I haven’t sold any of my free shares yet but could of course do so any time I choose. I am not in any rush, as Trading 212 do not impose any platform or inactivity fees.

Although in this post I have focused on the free share offer, Trading 212 is worth considering as a share-dealing platform too. In particular, the fact that it’s fee-free and commission-free means it is well suited for people who are dipping a toe in stocks and shares investment for the first time. By contrast, the dealing fees and commissions charged by some other share-trading platforms can make small share purchases prohibitively expensive. This review by Money Savvy Daddy looks at the pros and cons of Trading 212 as a share-dealing platform in a bit more detail.

It’s also worth bearing in mind that Trading 212 pays interest on any uninvested funds in your ISA or Invest account, currently at a rate of 5.1% AER. You can also make money allowing your shares to be lent out. Rates on offer for this vary according to investor demand, with the process handled automatically by Trading 212 once authorized. You can read more about share lending on Trading 212, including the risks and safeguards provided, here.

In conclusion, I hope this post has inspired you to consider registering with Trading 212 to claim your free share. If you do, I hope you get a valuable one! Please let me know what share you receive in a comment below. And, as always, any other comments or questions are very welcome too.

Don’t forget, the current free share offer ends on Wednesday 6 November 2024.

Disclosure: The links in this post include my referral code. If you click through and register as described above, I will receive a free share (as will you). Please note also that I am not a qualified financial adviser and nothing in this post should be construed as individual financial advice. Everyone should do their own ‘due diligence’ before investing and seek advice from a qualified financial adviser if in any doubt how best to proceed. All investment carries a risk of loss (although not in the case of free shares, obviously).

This is an update of my original post about this special offer.

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September 2, 2024

My Investments Update – September 2024

Nick Investing events, reviews, property 0 Comments

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

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £24,525 (rounded up). Last month it stood at £24,237, so that is an increase of £288.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,937 compared with £3,895 a month ago, a rise of £42. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the YTD screen capture below, this portfolio is now worth £772 compared with £769 last month, a small rise of £3.

As you can see from the charts, August was generally a decent month for my Nutmeg investments, despite a hiccup early in the month. Their overall value has risen by £333 or 1.16% since the start of August. They are also up by £2,919 or 11.08% since the start of the year.

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

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

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

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £833 invested with them in 7 different projects paying interest rates averaging around 7%. I also have £40 in my Kuflink cash account.

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

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

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

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

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

Since I opened my account, my AE portfolio has generated a respectable £200.41 in revenue from rental income. Capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 10 of ‘my’ properties are showing gains, 6 are breaking even, and the remaining 17 are showing losses. My portfolio of 33 properties is currently showing a net decrease in value of £43.69, meaning that overall (rental income minus capital value decrease) I am up by £156.72. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate]. Bear in mind that, as from this financial year (2024/25), you can open more than one IFISA per year.

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,303.27 an overall increase of $281.01 or 27.51%.

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

As you can see, my Oil WorldWide investment is showing 12.85% profit. That’s okay but not spectacular. Obviously my copy trading investment with Aukie2008 has been doing better. The Oil WorldWide port was recently rebalanced by eToro, so I hope this may boost its performance. The investment team at eToro periodically rebalance all smart portfolios to ensure that the mix of investments remains aligned with the portfolio’s goals, and to take advantage of any new opportunities that may present themselves.

You might also notice that I have a small holding in Prosus NV, a Dutch internet group. To be honest I don’t understand how I acquired this, but it may be connected to my copy trading investment with MIke Moest (who is Dutch). In any event, I am happy to have it in my portfolio as well!

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

I had three more articles published in August on the excellent Mouthy Money website. The first is Win Fame and (Maybe) Fortune as a TV Quiz Show Contestant. This can be an exciting and occasionally lucrative pastime. I revealed how to find opportunities and apply for them. I also explained how the auditioning process works, and offered some tips on how to boost your chances of success.

Also in August I revealed my Ten Top Tips for Working From Home. This is something I’ve done for over 30 years now, so in this article I set out my top ten tips based on my experience. If you have recently started working from home, or expect to do so in future, you may find this article helpful.

Finally, I wrote an article titled How Understanding Cognitive Dissonance Theory Can Help Us Manage Our Finances Better. This article drew on my experiences of studying psychology back in the 1970s. Developed by psychologist Leon Festinger in 1957, cognitive dissonance theory explores the discomfort we experience when we simultaneously hold conflicting beliefs or attitudes. By understanding this, we can gain insights into our financial behaviour, helping us make more informed decisions and achieve better financial results.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. From the variety of articles published in August, I particularly enjoyed How to Save Money on Your Home Removal by regular MM contributor Shoestring Jane. Jane writes mainly about money saving and frugal living. You can see all of her articles for Mouthy Money via this web page.

I also published several posts on Pounds and Sense in August. Some are no longer relevant due to closing dates having passed, but I have listed the others below.

In these challenging times, we all need to ensure our savings stretch as far as possible. So in How to Maximize Your Savings Interest l set out a range of tax-free allowances you can use to help do this. They include the Personal Savings Allowance (PSA), Starting Rate for Savings, Individual Savings Accounts (ISAs), and various others.

I also published How to Win Cash and Prizes in Online Competitions. This can be another tax-free way to boost your finances! In this post I revealed how to find online competitions to enter, why you should set up dedicated ‘comping’ accounts, how to identify potential scams, and more. Good luck if you decide to try this 🤞

As we all know Labour achieved a landslide victory in the general election, and it appears that austerity measures are on the way now. So in How to Reduce the Impact of Tax Rises in Rachel Reeves’ First Budget, I set out some recommended steps to try to protect your finances in the months (and years) ahead. The Chancellor’s first budget is scheduled for 30th October 2024, with tax rises and cuts to public services widely anticipated.

Finally, in August I published What Alternatives Are There to Heat Pumps? The government are currently pushing heat pumps hard in their frantic quest to achieve Net Zero. For a range of reasons, however, they are not suitable for every property. And even if your home might theoretically be suitable, there are good reasons you might not want one (discussed a while ago in this Mouthy Money article). So in this post I set out some possible alternatives you might like to consider instead.

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

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

Speaking of energy, a quick reminder that if you switch to EDF via my refer-a-friend link (below) you can get a FREE £50 credited to your energy account (and so will I). For more info and to sign up, click on https://edfenergy.com/quote/refer-a-friend/sunny-koala-9462

Finally, I wanted to highlight the decision by the new Labour government to abolish Winter Fuel Payments for all pensioners except those on pension credit. Like many others, I feel this is a terrible decision that will badly impact some of the poorest people in society and quite likely lead to increased deaths by hypothermia in the winter ahead (and others to follow).

it is therefore more important than ever that older people who may be eligible for pension credit apply for it. I recently updated my blog post about pension credit in light of the announcement. If you have older relatives, friends or neighbours, please encourage them to apply if they may be eligible. The application process is not as straightforward as it should be, so they may well appreciate some help with it

Even so, be aware that only the very poorest pensioners qualify for pension credit. If you have any source of income apart from the state pension, even a tiny one, the chances are you won’t be eligible. I do therefore recommend writing to your MP and asking for this Draconian decision to be reversed. You may also like to sign one of the various petitions that have sprung up, including this one on Change.org and this one from Age UK. The latter is up to almost half a million signatures now.

That’s all for now. If you have any comments or queries about this update, as ever, feel free to leave them below. I am always delighted to hear from PAS readers

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

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

August 24, 2024

UK Bloggers’ Back to School Giveaway 2024

Nick Everything Else events, reviews, competitions, families, shopping 0 Comments

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:

The Prizes

Start-Rite school shoes

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-tier kids 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 their back 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! The Smash 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 the Smash 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 a flip-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 with Scribble 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.

a Rafflecopter giveaway

Terms and Conditions

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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August 12, 2024

What Alternatives Are There to Heat Pumps?

Nick Everything Else reviews, property, families 0 Comments

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.

This article was first published in Mouthy Money.

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August 1, 2024

My Investments Update – August 2024

Nick Investing events, reviews 0 Comments

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

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £24,237 (rounded up). Last month it stood at £24,250, so that is a small decrease of £13.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,895 compared with £3,911 a month ago, a fall of £16. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the all-time screen capture below, this portfolio is now worth £769 compared with £772 last month, a small decrease of £3.

As you can see from the charts, July was an up-and-down month for my Nutmeg investments. Their overall value has fallen by a modest £32 or 0.11% since the start of July.

Although any fall is disappointing, short-term ups and downs are very much very much to be expected with stock market investments. And it is worth observing that the overall value of my Nutmeg investments is still up by £2,586 or 9.82% since the start of the year.

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

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

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

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £833 invested with them in 7 different projects paying interest rates averaging around 7%. Last month I withdrew £500 from completed loans and now have £40 remaining in my Kuflink cash account.

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

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

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

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

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

Since I opened my account, my AE portfolio has generated a respectable £195.87 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 13 of ‘my’ properties are showing gains, 5 are breaking even, and the remaining 15 are showing losses. My portfolio is currently showing a net decrease in value of £28.74, meaning that overall (rental income minus capital value decrease) I am up by £167.13. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate]. Note that as from this financial year (2024/25), you can open more than one IFISA per year.

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,303.60 an overall increase of $281.34 or 27.52%.

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

As you can see, my Oil WorldWide investment is showing just over 12% profit. That’s okay but not spectacular. Obviously my copy trading investment with Aukie2008 has been doing better. The Oil WorldWide port was recently rebalanced by eToro, so I hope this may boost its performance. The investment team at eToro periodically rebalance all smart portfolios to ensure that the mix of investments remains aligned with the portfolio’s goals, and to take advantage of any new opportunities that may present themselves.

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

I had two more articles published in June on the excellent Mouthy Money website. The first is Seven Ways to Make Money From Your Garden. In this article I set out seven ways you can make money from your garden (if you’re lucky enough to have one). None of these is likely to make you a fortune, but they can all help your finances stretch further in these challenging times.

Also in July I revealed how you can Make a Sideline Income Renting Out Your Driveway. If you have a parking space or driveway that sits empty most of the day, turning it into a source of passive income is easier than you might think. In this article I explained how you can get started and make the most from this opportunity.

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. From the wide range of articles published in July, I particularly enjoyed Five Ways Tracking Your Spending Can Improve Your Finances by regular MM contributor Shoestring Jane. Jane writes mainly about money saving and frugal living, and this article is a good example of her work. You can see all of Jane’s articles for Mouthy Money via this web page.

I also published several posts on Pounds and Sense in June. Some are no longer relevant due to closing dates having passed, but I have listed the others below.

How to Protect Your Savings and Investments Under a Labour Government was originally written and published before the general election. I revised and updated it after Labour’s widely anticipated victory, but the advice remains largely the same. A significant part of this involves making the most of tax-free opportunities such as ISAs and (to an extent) pensions, but various other methods and strategies are suggested as well. Nothing that has happened since Labour came into power has suggested to me that the advice in the article needs changing.

Also in July I published Ten Tax-Free Ways to Boost Your Finances. As you may have heard, UK citizens currently bear the highest tax burden since WW2. And with the new government looking to raise more money to pay for its ambitious spending plans, there is no sign of that changing any time soon. So in this article I set out some ways you may be able to boost your finances without increasing your tax liability. As you’ll see, doing this needn’t involve complicated investment strategies or seeking ‘loopholes’ in tax law. The article sets out ten perfectly legal ways you can boost your finances without having to worry about the taxman.

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

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

Speaking of energy, a quick reminder that if you switch to EDF via my refer-a-friend link (below) you can get a FREE £50 credited to your energy account (and so will I). For more info and to sign up, click on https://edfenergy.com/quote/refer-a-friend/sunny-koala-9462

Finally, I wanted to highlight the decision by the new government to abolish Winter Fuel Payments for all pensioners except those on pension credit. Like many others, I feel this is a terrible decision that will badly impact some of the poorest people in society and quite likely lead to increased deaths by hypothermia in the winter ahead (and others to follow).

it is therefore more important than ever that older people who may be eligible for pension credit apply for it. I recently updated my blog post about pension credit in light of the announcement. If you have older relatives, friends or neighbours, please encourage them to apply if they may be eligible. The application process is not as straightforward as it should be, so they may well appreciate some help with it 🙏

Even so, be aware that only the very poorest pensioners qualify for pension credit. If you get the full state pension and/or a private pension (even just a tiny one) the chances are you won’t be eligible. I do therefore recommend writing to your MP and asking for this Draconian decision to be rescinded. You may also like to sign one of the various petitions that have sprung up, including this one on Change.org and this one from Age UK.

Sorry to end on a downbeat note. At least in this cold, damp, depressing summer we are currently enjoying a few days of warm sunshine, so I hope you have been able to get out and make the most of it. I am sure normal service will be resumed soon!

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

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

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June 27, 2024

My Investments Update – July 2024

Nick Investing events, reviews 0 Comments

Here is my latest monthly update about my investments. Note that this month due to other commitments I am publishing this post a few days early. You can read my June 2024 Investments Update here if you like.

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

As the screenshot below for the year to date shows, my main Nutmeg portfolio is currently valued at £24,250. Last month it stood at £23,744, so that is an increase of £506.

Apart from my main portfolio, I also have a second, smaller pot using Nutmeg’s Smart Alpha option. This is now worth £3,911 compared with £3,808 a month ago, a rise of £103. Here is a screen capture showing performance over the year to date.

Finally, at the start of December 2023 I invested £500 in one of Nutmeg’s new thematic portfolios (Resource Transformation). In March I also invested a further £200 from ‘Refer a Friend’ bonuses. As you can see from the screen capture below, this portfolio is now worth £772 compared with £766 last month, a small rise of £6.

As you can see from the charts, June was generally a decent month for my Nutmeg investments. Their overall value has risen by £615 or 2.18% since the start of June. They are also up by £2,618 or 9.95% in the six months since the start of the year.

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

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

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

Moving on, I also have investments with the property crowdlending platform Kuflink. They continue to do well, with new projects launching every week. I currently have around £833 invested with them in 7 different projects paying interest rates averaging around 7%. I also have £540 in my Kuflink cash account after another loan was recently repaid. I am still considering whether to reinvest this money with Kuflink or withdraw it and invest the money elsewhere.

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

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

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

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

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

Since I opened my account, my AE portfolio has generated a respectable £188.95 in revenue from rental income. As I said in last month’s update, capital growth has slowed, though, in line with UK property values generally.

At the time of writing, 12 of ‘my’ properties are showing gains, 2 are breaking even, and the remaining 16 are showing losses. My portfolio is currently showing a net decrease in value of £32.84, meaning that overall (rental income minus capital value decrease) I am up by £156.11. That’s still a decent return on my £1,000 and does illustrate the value of P2P property investments for diversifying your portfolio. And it doesn’t hurt that with Assetz Exchange most projects are socially beneficial as well.

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

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

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

My investment on Assetz Exchange is in the form of an IFISA so there won’t be any tax to pay on profits, dividends or capital gains. I’ve been impressed by my experiences with Assetz Exchange and the returns generated so far, and intend to continue investing with them. You can read my full review of Assetz Exchange here. You can also sign up for an account on Assetz Exchange directly via this link [affiliate]. Note that as from this financial year (2024/25), you can open more than one IFISA per year.

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

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

As you can see from the screen captures below, my original investment totalling $1,022.26 is today worth $1,288.64 an overall increase of $266.38 or 26.06%.

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

As you can see, my Oil WorldWide investment is showing just under 12% profit. That’s okay but not spectacular. Obviously my copy trading investment with Aukie2008 has been doing better. The Oil WorldWide port is currently being rebalanced by eToro, so I am hoping this may boost its performance. The investment team at eToro periodically rebalance all smart portfolios to ensure that the mix of investments remains aligned with the portfolio’s goals, and to take advantage of any new opportunities that may present themselves.

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

I had three more articles published in June on the excellent Mouthy Money website. The first is How to Save Money on Your Purchases by Haggling. In this I set out a range of tips for saving money by haggling. As I say in the article, you might think this is an ancient practice reserved for bustling bazaars or flea markets in distant lands. But it’s actually a skill that can serve you well in everyday life, even in the modern shopping landscape of the UK.

Also in Mouthy Money last month I revealed How to Cash in on Your Old Gadgets. In this article I described various ways you may be able make money from your old tech (mobile phones, tablets, cameras, satnavs, games consoles, and so on) even if – in some cases – it’s no longer working.

My third article in Mouthy Money in June was Could You Save Money With Home Wind Power? In this article I looked at home wind turbines – what they are, how they work, and the pros and cons of installing one. I also revealed an alternative way of saving money through wind power by investing in a wind farm with Ripple Energy (something I have done myself – see below).

As I’ve said before, Mouthy Money is a great resource for anyone interested in money-making and money-saving. From the wide range of articles published in June, I particularly enjoyed Things We Can Learn From Other Countries About Money by MM’s editor, Edmund Greaves. Ed has lived and worked in various countries around the world, from Argentina to South Africa. He has some eye-opening observations about attitudes to money in these different countries and what we in Britain can learn from them.

I also published several posts on Pounds and Sense in June. Some are no longer relevant due to closing dates having passed, but I have listed the others below.

In How to Ensure You Can Cast Your Vote in the General Election, I set out some tips to ensure you are able to cast your vote in the General Election on 4th July 2024. Among other things, I highlighted some issues that older people may face. I also discussed the requirement to bring some form of photo ID to the polling station with you.

Also in June I published How to Protect Your Savings and Investments Under a Labour Government. With the likelihood of this increasing, in this post I set out some hints and tips to help preserve your assets in light of the tax and other economic changes that Labour may introduce. Of course, many of these tips would apply equally to a new government of any persuasion in these challenging times.

Another post was my Review of the New Trading 212 Cash ISA. This new product from the popular Trading 212 platform has been generating a lot of interest, so in this post I took a closer look, setting out the pros and cons as I see them. I also explained why I have opened a Trading 212 Cash ISA myself

A little to my surprise, Trading 212 also reopened their free share offer last month, so I updated and republished my blog post Get a Free Share Worth Up to £100 With Trading 212. This explains how, if you haven’t done so already, you can get a free share when you open a new Invest or Stocks ISA with Trading 212. Note that opening a Cash ISA alone will not qualify you for a free share, but of course you can do both. My advice is to start by opening a Stocks ISA or (non-ISA) Invest account to qualify for your free share, and apply for the Cash ISA after that.

Finally, I published Could You Benefit From Help to Save? This is a government-backed savings account that offers a generous bonus to low-income earners. Launched in September 2018, it aims to encourage regular savings by offering a 50% bonus on the amount saved over four years. There are no age limits to apply, but you must be in receipt of one of three work-related benefits. See my blog post for more information.

Next, a few odds and ends. Last time I mentioned that I recently invested some money (just over £1,000) in a Scottish wind farm project via a platform called Ripple Energy. The way this works is that you pay a one-off fee towards building the wind farm, and in exchange receive lower-cost, ‘green’ electricity once the wind farm is up and running. This will continue for the life of the wind farm (an estimated 20 years). The original closing date for this was the end of May, but the date was extended and the share offer is still open at the time of writing.

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

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

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

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

That’s all for today, except to remind you to get out and vote on 4th July. I know apathy holds sway across large parts of the country right now, but unless you cast your vote in the general election you can’t really complain about how things turn out subsequently!

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

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

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