reviews

January 29, 2021

Review: Sod 60! The Guide to Living Well

Nick Everything Else reviews, health, food, retirement 6 Comments

As I just hit 65, I thought now would be the perfect time to take a look at Sod 60! The Guide to Living Well.

As you may know, this is a best-selling book by Claire Parker and Sir Muir Gray, published by Bloomsbury. I bought a hardback copy from Amazon. A slightly cheaper ebook version for Kindle is also available.

Sir Muir Gray is also the author of Sod 70!, a similar healthy living guide aimed at the over-70s.

Review

Sod 60! is 232 pages long. The text – which is very readable – is broken up by lots of sub-headings, diagrams and cartoon-style illustrations (by David Mostyn). There are nine main chapters, each covering an aspect of how to live well in your sixties. The chapter titles are as follows:

Getting Older Doesn’t Matter – Getting Active and Getting Attitude Does
Keeping Active is Fitness Friendly
Your Attitude and Its Soulmates: Mind and Mood
Keeping Your Metabolism Healthy
Take Care of Your…Bits
Rhythm and Blues
Stuff Happens
Decisions, Decisions
Health Care: Choosing and Using It Wisely

Some of those chapter titles are self-explanatory, others less so. For example, Chapter 5 ‘Take Care of Your…Bits’ isn’t about what you might think. It actually covers looking after different parts of your body, from your brain to your feet. Sexual health is then covered in Chapter 6, ‘Rhythm and Blues’. Those both seem pretty odd choices of chapter title to me, but I suppose the aim was to help give the book a ‘quirky’ personality.

That small criticism aside, the style of the book is friendly and relatable. It’s also down to earth and practical, and I like the way that the text is interspersed with exercises, resolutions, and so on. It is very much a hands-on, practical guide.

Sod 60! concerns the importance of looking after your body and mind as you grow older. The authors stress the need to stay as active as you can, both physically and mentally.

Chapter 2 includes a range of physical exercises to try, and also sets out some general principles for exercising healthily as you get older. I thought this was one of the most useful chapters in the book.

Chapter 3, which focuses on attitude, mind and mood, is also very good. It looks at the importance of keeping a positive attitude, and staying connected with friends and family, your neighbours, local community, and so on. It also discusses maintaining a good relationship with your partner (assuming you have one). Getting enough sleep and dealing with stress are covered as well, though not in great detail.

Chapter 4 ‘Keeping your Metabolism Healthy’ focuses on diet and weight. The authors advocate following a balanced and varied Mediterranean-style diet, with plenty of fresh fruit and vegetables. That seems eminently sensible to me. I wouldn’t say there was much in this chapter I hadn’t heard before, and some of the advice such as avoiding sugary drinks struck me as stating the obvious. But this is of course very important to long-term health, so I guess it had to be said.

Chapter 5, as I’ve already mentioned, focuses on different organs/parts of the body. It discusses how to keep each one healthy, and warning signs to look out for as you get older. It also covers age-related changes and what you may be able to do to help prevent problems. Having a good diet, staying active, giving up smoking and reducing alcohol intake all crop up quite frequently. Again, there were no huge surprises for me here.

Chapter 6 is about sexual health and related matters such as bladder and (for men) prostate problems. On the sexual side, the advice could be broadly summed up in five words: Use it or lose it! The advice on matters such as urinary incontinence is – to be honest – a bit depressing, but nonetheless important to be aware of.

Chapter 7 ‘Stuff Happens’ is also a bit depressing, though again it covers some important topics. These include how to deal with the problems later life can throw at you, including depression, isolation, bereavement, serious illness, and so on. There is some excellent advice here, especially on the importance of cultivating and maintaining a support network of friends, relatives, health professionals, and so on.

Finally, Chapters 8 and 9 are both about healthcare and could easily have been combined in my opinion. They look at such matters as how to navigate healthcare decisions, self-care to prevent (or at least mitigate) serious health problems, drugs and vaccinations, and so forth.

In Conclusion

Overall I thought Sod 60! was a useful guide for sixty-somethings though maybe not an earth-shattering one. The book covers a range of issues that anyone in their sixties will need to think about and prepare for. It was first published in 2016, so there is no reference to the Coronavirus pandemic. The advice in the book still applies and in some ways is even more cogent now. With the UK still in lockdown at the time of writing, for example, we all need our support networks more than ever at the moment…

Sod 60! is really a ‘mind and body’ book. It doesn’t cover financial issues such as pensions and benefits (and indeed doesn’t claim to). And it doesn’t have much to say about the challenges and opportunities retirement can bring, or the pros and cons of carrying on working. For advice on these and similar matters, something like the annual Good Retirement Guide (which I hope to review soon) would be good. And keep on reading Pounds and Sense, of course!

If you want a readable and entertaining guide to making the most of your sixties and preserving your physical and mental health, though, Sod 60! would certainly fit the bill. It would also make a great (and relatively inexpensive) birthday or Christmas gift for anyone in this age category.

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

Disclosure: As with many posts on Pounds and Sense, this post includes affiliate links. If you click through and make a purchase, I may receive a modest commission for introducing you. This will not affect in any way the price you pay or the product or service you receive.

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

January 7, 2021

Grow Your Money Every Week With Plum!

Nick Saving Money reviews, sponsored post 7 Comments

Updated 1 Feb 2021

British people generally are not very good at saving.

A third of us have under £600, and 1 in 10 have no savings at all (source: https://www.finder.com/uk/saving-statistics). Having so little money put away makes people especially vulnerable in the event of a sudden change in their circumstances such as redundancy or divorce.

So today I thought I’d bring to your attention a money-management app called Plum that aims to help with this problem.. Plum is designed to help you set money aside painlessly for any purpose – from holidays to major purchases or simply for a ‘rainy day’ fund.

Plum is one of a growing range of apps that make use of so-called Open Banking. This allows third-party apps to access your financial information (read only) – so long as you provide the necessary authorization, of course – and perform certain transactions on your behalf, if you choose to set up a direct debit.

Open Banking is now becoming well established in the UK, and safeguards are in place to ensure that your security isn’t compromised. Even so, this is something you need to be aware of – and comfortable with – before signing up with Plum or similar apps.

In this post I am looking at features available on the Plum Free (or Basic) account and the paid-for Plum Plus and Plum Pro Accounts. The Plum Free account is – of course – free of all charges. Plum Plus costs £1 a month (the first month is free) and Plum Pro costs £2.99 a month (again, the first month is free if upgrading from a Plum Free account). Plum Plus and Plum Pro offer a wider range of features and higher interest rates in interest-bearing ‘Pockets’ (further discussed below).

The screen capture below from the Plum website shows the features available with each type of account.

You can read more about the three account types if you wish on the Plum website.

How It Works

Plum is available as an iOS and Android app. It uses Open Banking in combination with a direct debit authorized by you to manage and grow your money for you in an intelligent way.

Every few days, Plum’s algorithm calculates what you can afford to stash away based on your spending habits. It then transfers that money automatically from your current account to your Plum account. In this way you put money aside regularly while barely being aware of it – so it builds up, and in due course you can spend it on things that really matter to you.

You can change the amounts the app takes at any time, and also pause the service if you wish. This means you don’t have to worry about Plum pushing you into the red. You always stay in control and can change the ‘mood’ at any time if you want to be more ambitious or cautious with your saving (see picture below).

Plum currently works with most major UK banks. The full list from the website is as follows:

Barclays
Danske Bank
First Direct
Halifax
HSBC
Lloyds
M&S
Monzo
Nationwide
Natwest
Revolut
RBS
Santander
Bank of Scotland
Starling
Tesco
TSB
Ulster Bank

Currently business accounts and joint accounts are not supported by Plum. They also do not support Channel Island bank branches.

How to Get Started

Start by downloading the app free of charge from Google Play or the Apple iStore (see links here).

Once you’ve downloaded the app and signed up, you can begin a dialogue with the Plum chatbot to help you set up your account. You will, of course, have to connect the app to your bank, so you will need to have your current account details to hand. Once it’s all set up, turn notifications on. This will allow the app to alert you when it wants to start setting money aside for you.

There is an option to speak to a real person if you need to. You can also increase or decrease the amount to stash away, set up ‘Pockets’ for specific purposes (see below), and even pause any transactions completely if you wish.

Do You Get Interest?

With the default ‘Primary Pocket’ on your Plum account the answer is no. The app is free and helps you set money aside painlessly, but Plum doesn’t pay interest on this.

Even Plum Free accounts can, however set up a secondary interest-paying Pocket. This facility is provided by Investec Bank and takes the form of an easy-access account paying 0.20% for all users

Plum Plus users can also set up one easy-access Pocket paying 0.40% interest. And Plum Pro users can have up to 10 such Pockets for different purposes, all paying 0.40% interest.

What Exactly Are Pockets?

Pockets let you set money aside with a specific goal and amount, e.g. to buy a car, save for a trip, or put down a deposit on a house. You can think of them as ‘pots’ or even jam-jars!

As money accumulates in each Pocket, the app will show your percentage progress towards achieving that goal.

All Pockets (except the default Primary Pocket) can be interest-bearing as well, as explained above. The interest paid will contribute towards achieving your goal/s.

Where Do Plum Keep Your Money (And Is It Safe?)

The app puts money away in your Plum account, which is the safeguarded account created when you sign up.

Your Plum funds in your Primary Pocket are held as e-Money by PayrNet (a subsidiary of Railsbank), Plum’s e-Money provider. Your funds are safeguarded with a UK Bank chosen by PayrNet. Your money is safeguarded because e-money cannot be lent out (this is also why it doesn’t earn interest). That same safeguarding also prevents any of Plum’s or PayrNet’s creditors from claiming your money in the event that either business should go bankrupt. Both Plum and PayrNet are regulated by the Financial Conduct Authority (the UK’s financial watchdog). Plum also boasts 256-bit TLS encryption to ensure your data is kept safe.

Money saved with Plum in interest Pockets is held on Trust with a UK Bank (Investec). A Trust is a legal mechanism that means Plum can look after your money but legally it never stops belonging to you. This means that if anything were to happen to Plum then the bank would return your money to you directly. Should something happen to the bank itself, you would be protected up to £85,000 under the Financial Services Compensation Scheme (FSCS).

How Easy Is It to Withdraw?

Transfers from non-interest Pockets back to your Primary Pocket are usually instantaneous. it is different with transfers from interest-bearing Pockets:

• When requesting an interest Pocket withdrawal before 15:00 UK time on business days, it will be completed the same day.

• When requesting after 15:00 UK time on business days or during weekends, it will be completed the next business day.

Note that withdrawals from interest and non-interest Pockets go back to your Primary Pocket initially. Withdrawals to your bank account will always be from your Primary Pocket. Such withdrawals are processed the same day (typically in around 30 mins) and will appear on your bank statement under your full name.

Other Benefits

As well as making it easier to put money aside, Plum can help you keep track of your income and expenditure. You can set it to provide daily or weekly balance updates, and it will also automatically track your transactions by category, week and month. Plum will let you know all of this without having to wade through bank statements.

In addition, Plum has AI (artificial intelligence) built in, so if it notices you are being overcharged on a bill or for a financial product, it lets you know. It will also suggest cheaper solutions for you and – if you wish – help you switch over in just a few clicks.

Plum also offers a variety of optional automated features. These include

Round Ups – Get Plum to round up your past week transactions to the nearest £1 and transfer the spare change.

52-Week Challenge – Starting with £1 in the first week, £2 in the second week and increasing up to £52 in the final week of the challenge, Plum can help you set aside £1,378 in a year. This feature is only available through Plum Pro.

Rainy Days – Once activated, Plum squirrels away extra cash automatically each day it rains where you live. This feature is also only available through Plum Pro.

Pay Days – The best time to set money aside is when you get paid, so tell Plum an amount and it’ll move this automatically for you on payday.

Plum Reviews

Plum has an average rating of 4.5 stars (‘Excellent’) from over 1200 reviewers on the independent Trust Pilot website. Just over three-quarters (76%) gave it the maximum five stars, with many mentioning the great customer service and how the app had helped them to save more. Of those who gave Plum three stars or less, the main issues mentioned were delays or problems in withdrawing. To be fair, the Plum team generally respond to such comments on the Trust Pilot website explaining how the app works and offering additional help where issues have arisen.

Final Thoughts

If you want to set more money aside but need a little help and encouragement to do so, Plum is well worth a look.

I like the way it stashes money away automatically, so in all probability you won’t even notice it. You can set it to take as much or as little as you like, and you can also make one-off additional payments if you are feeling particularly flush. You can also withdraw some or all of your money back to your bank account at any time.

Pockets are a great feature, allowing you to set aside money for specific purposes. And, as mentioned above, by using an interest-bearing Pocket, you can get interest as well (0.20% with a Plum Free account and up to 0.40% with a Plum Plus or Pro account). Obviously that’s not a fortune, but in the current low-interest rate environment it is still very competitive (and a lot better than nothing!).

In my view Plum is likely to work best for people with a regular monthly (or weekly) income. If you receive income more irregularly – e.g. you’re self-employed – it might not work quite as well. Even so, Plum say that their algorithm can detect patterns in your income and expenditure and adjust your transfer amounts accordingly.

In any event, there’s no reason not to try Plum yourself to see if it can help you set aside more. Just click through this link for more information and to sign up.

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

Note: This is a fully revised and extended version of my original Plum review from last year.

Disclosure: I am an affiliate for Plum so if you click through any link in this article and sign up, I will receive a modest referral fee for introducing you. This will not affect the service or benefits you receive in any way. Please note also that I am not a registered financial adviser and nothing in this post should be construed as personal financial advice.

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

January 4, 2021

Win Free Cash Prizes With Pick My Postcode!

Nick Making Money reviews, competitions 10 Comments

Today I’m highlighting a fun and free way you may be able to boost your income in 2021. And all you have to do is check the website in question once a day to see if your postcode is a winner!

The website in question is called Pick My Postcode. They offer multiple chances to win every day – and back when they were called Free Postcode Lottery, I was lucky enough to win the main draw prize!

All you have to do to get started is visit the Pick My Postcode site and register with your email address and postcode.

The PMP Draws

Pick My Postcode have five draw categories, as follows:

Main Draw Each day one postcode is picked at random for this draw, which has the biggest prizes. The main daily prize – which I was lucky enough to win – can be over £1,000. When I had my own win, the prize was £1,200, though as one other person in my postcode area also claimed, the prize was split between us. So I got £600 plus a small bonus (explained below) – not a life-changing amount, but certainly a day-changing one 😀
Video Draw – To see the winning postcode in this draw, you first have to watch a short video. Though to be honest I find that you just have to watch the ad that plays first and the winning postcode is then displayed – you don’t have to watch the whole of the video unless you want to. This draw pays a minimum of £50, with the prize rolling over to the next day if not claimed. I have seen up to £400 on offer in this draw.
Survey Draw – To see if you have won this draw, you first have to complete a very short survey (generally just one question). As with the Video Draw there is a minimum prize of £50 and it rolls over to the next day if unclaimed. When I checked today there was a £300 prize, so it must have rolled over for a few days previously.
Stackpot – The Stackpot lists a variable number of postcodes with £10 prizes for those claiming them. When I checked this morning there were 14 prizes up for grabs and one that had already been claimed (it is first come, first served with the Stackpot).
Bonus Draw – With the Bonus Draw there is a daily £5 prize, £10 prize and £20 prize. To be eligible you need to have built up a Bonus (see below) equal in value to the prize in question by visiting the site regularly. So to qualify for the £20 Bonus Draw, you need to have accumulated a Bonus worth at least £20 yourself.

All lottery prizes are tax-free, of course, in accordance with UK gambling laws.

Flash Draw and Bonus

Pick My Postcode also offers two additional ways to win prizes.

One is £5 Flash Draws. These appear at random on advertising spaces around the PMP website. They look like the sample image below. They appear to individual visitors at random. I have never seen one myself, but obviously it’s worth keeping an eye out for them. If you spot one, you just have to click to claim (it doesn’t matter about your postcode). The £5 prize is paid by PayPal as usual.

As for the Bonus, this is a sum of money that is added to your prize any time you win (with the exception of the £5 Flash prizes). It accrues over time as you visit the site. It increases by 1p for every new Main Draw, Survey Draw or Video Draw that you check. That may not sound much, but if you return to the site every day it soon adds up. My Bonus is up to £41.90 now!

If you wish, you can boost your Bonus even more by referring friends and neighbours and taking up some of the offers that appear on the site.

It’s important to note that you can’t withdraw your Bonus until you win a prize. But even £10 in the Stackpot or £5 in the Bonus Draw will qualify. So if I were to win a £10 Stackpot or Bonus Draw prize today, I would actually receive £10 plus £41.90 = £51.90. Another good feature is that your Bonus is added to your winnings every time you win a prize – it doesn’t reset to zero after a win.

I am not normally a great one for lotteries, but I make an exception for Pick My Postcode. As I said above, it’s free to enter, there are loads of prizes on offer, and the longer you go on playing, the bigger those prizes can become. And obviously, having previously won over £600 on the Main Draw myself, I know that it’s genuine and would love to win again!

Finally, if you still need further reassurances about the site, check out the reviews on the independent Trust Pilot website (average 4.8/5 stars, with 94% of people rating it ‘Excellent’).

As always, if you have any comments or questions about Pick My Postcode, please do leave them below.

Disclosure: This post includes my referral link. If you click through and sign up for free, I will receive a small commission for introducing you. This will not affect your potential earnings in any way.

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

December 11, 2020

Managing Your Finances and Tackling Debt – a Q & A with MoneyNerd

Nick Making Money, Saving Money, Investing reviews, interviews 6 Comments

Today I have a Q and A for you with my fellow money bloggers at MoneyNerd.

MoneyNerd is a UK personal finance blog that aims to help people learn to manage their finances and tackle debt. I asked a number of questions about personal finance and debt, and added my own thoughts as well. Our answers are also being shared separately on the MoneyNerd blog. I hope you find them interesting and informative.

What’s your number 1 financial tip?

MN: It’s hard to give advice that would apply for everyone, because everyone’s finances are different. But I would suggest ‘write it down’, as a fairly universal and important financial tip. Start with your financial goals, then write down the steps you’ll take to get there according to your budget. A lot of people have good financial intentions, but without having clear goals on paper, it’s easy to get led astray.

PAS: Agreed. I would also say, keep on top of your money. Know what’s going in and what’s going out every month, and budget accordingly. Always be on the lookout for ways you can maximize your income and minimize your expenditure. And try to put some money aside for the proverbial rainy day. Everyone should really have at least three months’ worth of income set aside in case of emergencies. Sorry, that’s at least three tips, I know!

What do you think are the main causes people find themselves in financial difficulty?

MN: I think financial difficulties are mainly caused by unforeseen life-events, such as bereavement, unemployment, and relationship breakdowns. These kinds of bumps-in-the-road can severely throw people off course, particularly if their financial situation was fragile in the first place. Unfortunately, all three of these examples have sky-rocketed due to the pandemic, and many people in the UK will be facing financial difficulties over the coming year.

PAS: Not much I can add to that. Although sometimes failing to monitor your income and expenditure closely enough can lead to debts mounting up before you realise it.

What personal finance tools do you currently use to track and manage your money?

MN: I’m quite old-school and still use spreadsheets for a lot of money-related things! There are some good apps out there though – Money Dashboard is a particularly good one.

PAS: I am the same and use spreadsheets a lot. I started with Microsoft Excel, but these days mainly use Google Sheets. As regards personal finance tools, I like Snoop [referral link], a relatively new app that helps you keep track of your finances and suggests easy ways you can make savings.

Any tips for people coming to financial management later in their lives?

MN: It might be a little harder to undo old habits and reinstate new ones if you’re approaching financial management from an older perspective. So start by setting simple goals, and work at them consistently. It’s probably worth taking a little time to assess what’s important to you right now, too: what range of outgoings does your money need to cover in later life that you didn’t need to consider before?

PAS: I am 64 and have friends in their seventies and eighties, so I have seen the sorts of problems older people can face. In particular, so many aspects of our personal finances are dealt with online now, from banking to applying for state benefits. The pandemic has probably accelerated this trend.

Many older people struggle with the technology and it’s often not as intuitive as it should be, especially for those whose eyesight isn’t as good as it once was. So I would say to any older people, try not to get left behind by technology, and ask younger friends and relatives for help when needed. Last year a group of us clubbed together and bought a friend (a retired builder) a Chromebook for his 80th birthday. He had never engaged with computers or the internet before and I must admit I was expecting him to struggle at first. However, he took to it like a duck to water, and was soon ordering tools and components online from a local builders merchant. So even old dogs can definitely learn new tricks!

2021 is going to be tough for many. Do you have any advice on how to keep things under control?

MN: I’d start with the obvious – plan as much as possible, in order to save as much as possible. This is so that when those ‘bumps-in-the-road’ come along, you have some kind of safety net, however small. Unfortunately, however, I imagine a lot of people will do everything right this year and still fall into difficulty. As and when that happens I would say be proactive in reaching out and seeking help. There are plenty of free services and helplines to reach out to, before matters spiral.

PAS: Yes, definitely. As I said earlier, everyone should have a financial safety net to tide them over when life throws you a curveball.

In my earlier career I worked as a debt counsellor at a citizens advice bureau, so I know that there is lots of help out there if you ask for it. And friends and family can be a good source of practical and emotional support too. Just don’t bury your head in the sand and pretend to everyone that nothing is wrong.

What would be your top tip for someone who is worried about a debt (or debts) they can’t repay?

MN: I have two tips: the first is don’t panic, the second is be proactive. If you can’t afford the repayments for a loan or credit card, contact the company and explain your situation. If you’re struggling to meet the repayment amounts, you may also need to look at whether a debt solution is appropriate for you. Having unaffordable debt can be a scary place in which to find yourself, but by taking action you can dissipate some of that anxiety by feeling you are doing something about the problem.

PAS: Yep. It’s worth bearing in mind also that if you have a debt you can’t repay, it’s not just your problem, it’s a problem for whomever you owe the money to as well. It is therefore in their best interests to work with you to find a method for paying down the debt.

What are some good ways of boosting your income?

MN: Ask yourself: do I own anything I could rent? A parking spot, a vehicle, a garden shed, even a room in your house if you own it. Then ask yourself: do I own anything I could sell? Old clothes, a bicycle, old furniture, anything in storage. Then finally, ask yourself what you could do with your spare time: dog-walking, Uber-driving, delivering takeaways/parcels, painting and decorating,completing online surveys, match betting, free-lancing, etc. I have a whole blog post which goes into this very topic in more detail: Making Money – Tips and Tricks.

PAS: Lots of great ideas there. Like MoneyNerd, I also have a section of my blog devoted to ideas for boosting your income. I like online surveys, with Prolific Academic (a website needing people to take part in academic research) a particular favourite. And I do matched betting as well, though not as much as I used to, as I’ve been restricted (or gubbed as we say in MB’ing) by many of the leading bookmakers!

What is the best way you can help a friend or family member who has debt problems?

MN: Honestly, I don’t think there’s a one-size fits all here. Everyone and everyone’s debt problems are different. But that seems like a cop-out! So I think showing genuine, non-judgemental support, and ensuring they have all the right resources (StepChange, CitizensAdvice, etc.) to hand are two good places to start.

PAS: I agree with this. But based on personal experience with a friend a few years ago, I would also advise thinking hard before lending them money, as this seldom solves the problem and may simply exacerbate it. With my friend, who lived alone, I found that acting as a lender to him changed the nature of our friendship, and not for the better. I also felt that by constantly bailing him out, I was allowing him to avoid addressing his money management issues. Eventually we had a difficult telephone conversation when he asked me to lend him money again and I refused. He took it better than I expected and our friendship actually returned to something more normal after that. He got his finances under better control, although I did on a couple of occasions afterwards send him supermarket vouchers to ensure he had enough to get food. I didn’t expect to be repaid for these, obviously!

If you had a sudden, unexpected windfall of £5,000, what would you do with it?

MN: Firstly I’d pay off any loans or outstanding credit card debts. Then I’d take my family out for a nice meal, and put what’s left-over into a tax-free ISA.

PAS: Paying off debts would be my first priority as well, though I am fortunate not to have any at the moment. I would put most of the rest in my Nutmeg stocks and shares ISA, and some in my Kuflink property loan investment account (from which I have had good results over the last three years) to provide a bit of diversification. Going out for a nice meal with family and friends sounds good too, although as I live in a Tier 3 area I might have to wait a while for that!

What was your best-ever financial decision, and what was your worst?!

MN: My best financial decision was investing in a tech based stocks and shares ISA which has done really well over the last 5 years, although don’t know if I’d recommend the same investing approach in the current economic climate.

On the other hand my worst financial decision was living in London for 10 years where rent and cost of living is exorbitant.

PAS: My best financial decision was probably paying off the mortgage when I had a windfall a few years ago. At a stroke one large item of monthly expenditure was gone, giving me greater financial flexibility as well as saving me a lot in future interest payments.

My worst decision was investing too much in property crowdfunding a few years ago when it was still new and exciting. I had money to invest at the time and liked the idea of owning stakes in a portfolio of properties across the UK. Some of my investments worked out but others didn’t, and I am currently sitting on a number I can’t access because the properties in question can’t be sold for one reason or another. The money is still there in bricks and mortar but I have no idea when or how I will be able to access it. That said, I do still believe in the property crowdfunding concept, but I do it a lot more selectively now.

About MoneyNerd

MoneyNerd.co.uk is a personal finance blog that was set up with one aim in mind: to help people learn how to manage their finances and tackle debt. The blog includes a variety of straight-talking articles that cover personal finance topics from credit card guides to mental well-being tips. These can help you understand exactly how financial products work, as well as what your rights are when dealing with debt. We want to offer authentic and truthful information that can help you deal with your situation, whatever that may be.

Many thanks again to MoneyNerd for their insights. Please do check out the MoneyNerd site for much more information about tackling debt and getting your finances under control.

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

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

November 24, 2020

Nutmeg Launches ‘Smart Alpha’ Portfolios Powered by J.P. Morgan Asset Management

Nick Saving Money, Investing reviews 6 Comments

Updated 16 November 2023.

Regular readers of PAS will know that I am a fan of the Nutmeg robo-adviser investment platform, and have a good portion of my own money in a Nutmeg stocks and shares ISA. You can read my in-depth review of Nutmeg here.

I was interested to hear that Nutmeg had launched a new investment style for their ISA, Lifetime ISA, Junior ISA, SIPP (personal pension) and general investment account customers. Previously such customers had a choice of three options: Fixed Allocation, Fully Managed and Socially Responsible.

All Nutmeg portfolios are managed by human experts, but the Fixed Allocation ones are altered annually, whereas the others are managed more actively. The Socially Responsible portfolio aims to optimize your investments according to various environmental, social and governance (ESG) factors. So it focuses on companies with a good track record and proactive strategy in such areas as water use, pollution, greenhouse gas emissions, proportion of female board members, and so on. Currently my own stocks and shares ISA is in the Fully Managed category (which was the only option available when I originally invested with Nutmeg).

Whilst all three of these investment styles remain available, a new one was launched in 2020…

Smart Alpha Portfolios

Nutmeg’s Smart Alpha portfolio range is powered by J.P. Morgan Asset Management. It includes five risk-rated portfolios, each holding between 10 and 14 passive and active exchange traded funds (ETFs). They are run by J.P. Morgan’s multi-asset solutions team, giving Nutmeg clients access to the investment giant’s experience and expertise. Writing on the Nutmeg blog, their Chief Investment Officer James McManus explained the benefits of this approach as follows:

The name recognises the intelligent way these portfolios are designed with the potential to achieve alpha (returns above the market) for our clients in three ways.

Firstly: The use of J.P. Morgan Asset Management’s multi-asset specialists, a team with a 50-year history of investing for institutions and professionals worldwide. These specialists inform Smart Alpha portfolios’ long-term (strategic) asset allocation.

Secondly, Smart Alpha portfolios have the ability to be flexible around this long-term asset allocation, allowing us to manage risk and capture opportunities at different stages of the market cycle.

Thirdly: Nutmeg and J.P. Morgan Asset Management have added to these capabilities a means to make smart security selections within active exchange traded funds (ETFs). These smart selections are made based on the insights of J.P. Morgan Asset Management’s research analysts with the aim being to capture returns in excess of the market benchmark (alpha).

How do these smart selections seek to gain alpha? The active ETFs we use allow us to move overweight in certain positions that J.P. Morgan Asset Management’s analysts expect to perform well and underweight in those positions they expect to perform poorly. This gives us the ability to move above and below market benchmark positions, delivering greater potential returns with similar risk to the overall market.

As well as allowing Nutmeg investors to tap into the expertise of J.P. Morgan Asset Management, these portfolios are ESG integrated, meaning that (as mentioned above) environmental, social and corporate governance considerations are factored into every research and investment decision. These portfolios are therefore suitable for the growing number of investors for whom ethical considerations are particularly important.

The terms and conditions for the new Smart Alpha portfolios are copied below, alongside the other portfolio types.

The above is correct as at 16 November 2023, but may have changed subsequently. Please note also that Nutmeg has also recently introduced a new ‘thematic’ investment style. More information about this can be found about this in my full Nutmeg review and on the Nutmeg website. Remember that all investing carries a risk of loss.

My Thoughts

This is undoubtedly an interesting move by Nutmeg and gives investors the opportunity to benefit from having their portfolio actively managed by a leading investment house at no extra cost. If you are a Nutmeg investor already, you can start by investing as little as £500 to test the water. You can either use ‘new money’ from your bank account or another ISA, or you can transfer money from another pot within your Nutmeg ISA account.

Personally I am very happy with the way my Nutmeg ISA has performed during this tumultuous year and don’t want to rock the boat too much. On the other hand, I am curious to see how the new Smart Alpha portfolios perform in comparison. So I have created a new £1,000 pot within my ISA and have selected Smart Alpha as the investment style. The risk level is 4/5, which roughly corresponds with the 9/10 risk level in my Fully Managed portfolio.

I will of course report back on Pounds and Sense about how my investments perform. Obviously, if my Smart Alpha pot seems to be doing significantly better than my Fully Managed one, I will switch some or all of the latter to Smart Alpha as well. It is one of the attractions of Nutmeg that you can have multiple pots within a single ISA with different investment styles and risk levels attached to them.

Capital at risk. Tax treatment depends on your individual circumstances and may change in the future.

In Conclusion

I am obviously a fan of Nutmeg and – as stated above – have a significant proportion of my investments with them.

Of course, I am not a qualified financial adviser and everyone should do their own ‘due diligence’ (and/or take professional advice) before deciding to invest. In addition, you shouldn’t consider investing with Nutmeg (or anyone else) unless you have paid off any interest-charging debts and have at least three months of easily-accessible savings in case of emergencies.

Based on my personal experiences with Nutmeg, though, I am happy to recommend them. They provide a simple, easy-to-understand investment platform, the customer service is excellent, and certainly in my case the results to date have exceeded my expectations.

If you have any comments or questions about this post or Nutmeg in general, please do leave them below.

PLEASE NOTE: As with all investing, your capital is at risk. Tax treatment depends on your individual circumstances and may be subject to change in the future. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest.

Note also that I am not a qualified independent financial adviser and nothing in this review should be construed as personal financial advice. You should always do your own ‘due diligence’ before investing and take professional advice if in any way uncertain how best to proceed. All investing carries a risk of loss.

Please note also that this review includes affiliate links. If you click through and make an investment or perform some other qualifying transaction, I may receive a commission for introducing you. This will not affect in any way the terms you are offered or any fees you may be charged.

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

October 30, 2020

Save Money on Your Mortgage with Dashly

Nick Saving Money reviews, property, sponsored post 4 Comments

For many of us, our mortgage is our biggest monthly outgoing. So it’s important to keep a close eye on it and check regularly whether you could save money by switching to another provider.

That’s exactly what a new online service called Dashly aims to do. They evaluate your current mortgage deal against the whole market, taking into account your specific personal circumstances as well. If they find a better deal for you they let you know and – if you choose to proceed – assist you with the switching process.

How Does Dashly Work?

Dashly is available as a desktop site, with mobile apps for iOS and Android coming soon.

You start by registering and entering some details about your current mortgage and your personal circumstances. The latter is important, as things such as your income, employment type, credit score and age can all affect the deals you could be eligible for. This process takes 10-15 minutes. Dashly then compares your mortgage against an average of 10,000 products to find the best deal for you.

If they find a better deal than your present one, they send you a notification. You can then evaluate this and decide whether you want to switch. If you do, the team at Dashly will assist you with the switching process.

In addition, Dashly will continue monitoring your mortgage every month. If they find you could save money by switching again, they’ll let you know. It’s worth noting that the equity you have in your property changes on a monthly basis due to ever-changing house values and your decreasing mortgage balance. As your LTV (loan-to-value ratio) decreases, your mortgage may qualify for better, cheaper deals. Again, Dashly checks this on your behalf.

You receive a detailed personal report from Dashly about your mortgage every month. In addition, your dashboard will show you all the key facts at any time, from the changing value of your property to the amount of equity in it, any current deals that would save you money to your next payment date. It’s all there on one easy-to-read web page.

How Much Could You Save?

The savings can be substantial. Dashly say that on average their users save £2,620 (see footnote).

Of course, in practice savings will depend on a number of things, including the balance outstanding on your mortgage, the competitiveness of your current deal, the term left to run, and the effect of any early repayment penalties. Dashly takes all of these things into account in determining whether you could save money by switching to a new lender (and by how much).

Are There Any Costs?

Using Dashly is free. There are no hidden charges and Dashly say they will never hit you with advertisements or email campaigns to try to make money from you. They get paid out of mortgage provider fees, and are authorized and regulated by the Financial Conduct Authority.

Dashly are also founding members of Finance For Good, a charity run by social impact fintechs who put consumers first. They say that their security rivals that of the world’s leading banks.

In Conclusion

If you have a mortgage, in these uncertain times it’s more important than ever to ensure that you aren’t paying over the odds for it.

Dashly offers a free service that not only checks whether you are getting the best deal currently but also continues monitoring your situation month by month and recommends switching again if a new and better deal arises.

By using Dashly you could painlessly save hundreds or even thousands of pounds on the cost of your mortgage. There is never any obligation to switch or any fee to pay for the service. So you really have nothing to lose and everything to gain by registering for an account today.

Footnote: Your individual savings may vary and will depend on personal circumstances. £2,620 per year is the average amount based on research Dashly has conducted on the mortgage market. Find out more at www.dashly.com/reference-index .

Disclosure: This is a sponsored post on behalf of Dashly. If you sign up and make use of the service, I may receive a referral fee for introducing you. This will not affect in any way the service you receive or the deals you are offered.

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

October 8, 2020

My Coronavirus Crisis Experience: October Update

Nick Investing, Everything Else events, reviews, travel 6 Comments

Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since the original lockdown started (you can read my September update here if you like).

As previously I will discuss what has been happening with my finances and my life generally over the last few weeks, while trying to avoid being too repetitive!

As always, I will start with the money side of things.

Financial

As I’ve done before, I’ll begin with my Nutmeg stocks and shares ISA. This has gone up and down over the last few weeks, but currently stands at £16,578. That is over £500 up on last month, so I’m happy with that! Here is a screen capture covering the last three months…

You can read my in-depth Nutmeg review here if you like.

My Property Partner and Kuflink investments are still both ticking along satisfactorily. Property Partner has resumed paying dividends on some properties, which is appreciated. The five-year sales process has also resumed. There is a backlog, though, so it will probably be longer than five years till the properties I hold shares in can be sold at the current, independently-assessed market price (or retained, of course).

There is nothing really to report about The House Crowd. I assume that the sales of the two properties in which I hold £1,000 shares are progressing, but can understand that it is a slow process at present. At least rental payments are still accruing, which should help to defray some of the selling costs.

There has been no further word either regarding my investments with Crowdlords. As I said last month, I have two remaining investments with them, Kennington Road eco-houses and Trent House. I was told they hope to have exit options for these properties by the end of the year, but I’m not holding my breath. On the plus side, they are paying 6 percent interest on my Trent House investment, which is quite generous in these days of ultra-low interest rates.

Personal

It’s been an eventful few weeks one way and the other.

As mentioned previously, I had booked a short break in Llandudno (see cover image) near the end of September. Thankfully I was able to go. If I had left it just a few days later I would have had to cancel, as the Welsh Assembly has decided to lock down the whole of the Llandudno and Conwy area due to rising infection rates. That means no-one can currently go in or out of the area without a compelling reason (and having a holiday booked there doesn’t count).

Anyway, I enjoyed my visit. I stayed in a self-catering apartment, which turned out to be a good choice in most respects. It was on two floors, with a lounge and well-equipped kitchen on the lower floor and a double bedroom and bathroom on the upper. The location was central but quiet, yet just five months’ walk from the sea. The only drawback was that parking was on the street and finding a spot was a bit of a lottery. I was lucky to get somewhere close when I arrived, but later in the holiday had to park on another road half a mile away, which was a bit of a pain. I paid £255 for my three-night stay via Booking.com, which I thought was reasonable. By comparison, the seafront hotels I checked out were charging over £600 for three nights’ bed and breakfast.

Not surprisingly Llandudno was quieter than usual for the time of year, but there were still plenty of visitors, and many of the small hotels and boarding houses had ‘No Vacancies’ signs in their windows. While some places and amenities were closed, many others were open, and I was pleased to find that the pier was fully operational (see photo below). Professor Codman’s famous Punch and Judy show on the promenade wasn’t running, though – a shame, as there were lots of young children who might have enjoyed it.

On my first day I left my car at the apartment and took a couple of bus tours. The first was the open-top bus that takes a circular route between Llandudno and Conwy and includes a running commentary. I have done this trip before and noticed that the recorded commentary hasn’t changed this year. Mind you, that may be just as well, as a post-Covid commentary would have had to include details about all the hotels and other places that have closed due to the virus, the seafront theatre that became a Covid field hospital, and so forth…

The other trip was on a vintage bus (see photo) around the Great Orme, one of the two promontories at either end of Llandudno’s seafront. This had a knowledgeable driver/guide, who provided an interesting – and up-to date – commentary. I must admit I particularly enjoyed seeing ‘Millionaire’s Row’ at the far side of the Orme. There are some amazing houses here, owned by people who like to preserve their privacy. Obviously the coach passes from a distance, but it was still a good opportunity to gawp at how the super-rich live. I particularly enjoyed hearing about the house that has its own private lift down to the beach!

On the second day of my visit I drove to the medieval walled town of Conwy, which is about three miles away. I booked a ticket online to see Plas Mawr, a restored Elizabethan town house (photo below). It was fascinating, and I was glad I took the option of borrowing one of the free electronic guides. You use these to scan a QR code in each room and it provides a commentary on the room itself and various interesting historical tidbits associated with it.

As with my visit to Dunster Castle near Minehead earlier in September, all the usual anti-virus measures were in place. I had to wear a face covering throughout, and staff ensured that there were no more than two households in a room at any one time. It worked pretty smoothly, although you had to follow a set route and there was no possibility of returning to a room once you had left it.

In case you’re wondering, the photo in my cover image shows the Haulfre Gardens Tearoom on the lower slopes of the Great Orme. It’s one of my favourite places in Llandudno, and I was pleased to find it was still open. I enjoyed afternoon tea in their lovely garden on both days of my visit. As you can see, I was pretty lucky with the weather!

As mentioned above, I was very glad to be able to make my trip before the current lockdown would have made it impossible. I feel very sorry for people who booked after me and were unable to go, especially as I have heard that some are now having problems getting their money back. But I am sorry also for the hotels and other businesses who have been left high and dry by the lockdown. I really hope for their sake it doesn’t go on too long 🙁

Moving on, I had an experience I would rather not have had in the last few weeks too. At a routine eye examination my optician saw something she didn’t like the look of in the retina of my left eye. So she packed me off to the eye clinic at Queens Hospital, Burton. The doctor there told me I had a perforation of the retina, and gave me laser treatment then and there. It wasn’t painful but it was obviously nerve-racking. The doctor did say it was a good thing my optician had spotted the problem, as it could have led to a detached retina if left untreated, which is clearly more serious. I have to go for a follow-up check this weekend, but touch wood the problem has been repaired. I guess if nothing else this does show why it’s so important to have your eyes checked regularly even if you don’t think there is anything wrong with them. That applies doubly to older people and those who (Iike me) are very short-sighted, as we are especially susceptible to this sort of thing.

On the Covid front, clearly most of the news hasn’t been good recently. Mind you, in most parts of the UK hospital admissions and deaths remain a lot lower than at the peak of the pandemic in the spring. I have seen the current situation described as a ‘casedemic’, which seems a pretty apt description. Clearly it’s important to protect the elderly and vulnerable at this time. Young people don’t typically suffer severe reactions to the virus, however, so I do wonder if some of the more extreme measures aimed at them are fair or necessary. Personally I am taking what I consider reasonable precautions but still trying to live my life as normally as possible. I volunteered for the UCL Virus Watch panel a few weeks ago and fill in a weekly questionnaire saying whether I have any possible Covid symptoms (none so far). They have also just asked me to take a blood test to see if I have any antibodies or other natural resistance to the virus. I’ll be interested to see the results of that!

As regards masks and such matters, I have been wearing a half-face shield in supermarkets (as a mask sceptic I’m not going to other shops till masks are voluntary again, though I might make an exception if the shop clearly states that they welcome non-mask-wearers). I find this better than the full face shield I was wearing before, as it doesn’t interfere with my vision. Shields are also much easier to breathe through than cloth masks, and I haven’t yet been challenged by any staff members or self-appointed mask police. In case you are interested, here’s an Amazon ad (affiliate) for some half-face shields similar to the type I am now using.

Well, I guess that’s enough for now. I do hope you and your loved ones are staying safe and well. As always, if you have any comments or questions about this post, please do leave them below.

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

September 19, 2020

My Short Break in Minehead

Nick Everything Else events, reviews, travel 4 Comments

I recently enjoyed a three-night break in the North Somerset coastal town of Minehead.

It was actually my first visit to Minehead. Early this year, before the pandemic struck, I booked breaks in a few places I hadn’t been to before. Minehead was the only one I didn’t have to cancel 🙁

After some online research, I had booked a room at the Channel House Hotel. This is on Minehead’s North Hill (see cover photo), on the opposite side of the bay from the Butlins holiday camp. Here’s a map by courtesy of Google.

The Channel House Hotel had excellent reviews and a great location near the harbour. It had its own car park as well, which is always a plus with seaside hotels!

Here’s some more information about my stay…

The Hotel

The Channel House Hotel is a small country-house hotel with eight bedrooms. They don’t accommodate dogs or children under the age of 15.

I had Room 7, on the top floor. I had been hoping for a sea view, but due to a line of trees I couldn’t really see it from my room. I could at least hear the waves, though! The hotel is in a quiet, peaceful location, and I slept very well on all three nights.

As you would expect in these strange times, various anti-virus precautions were in place. I had my temperature checked on arrival, and hand sanitizer was available by the front door and on all the tables in the dining room.

I opted for breakfast and an evening meal, although you can book bed and breakfast only. Other dining options near the hotel appear limited, though, especially in these times of Covid.

There was a good choice of breakfast options for a small hotel. As well as the full English (which you can customize as you wish) you could also have Eggs Benedict in three different variations or smoked haddock with poached egg. You could also have a plate of mixed fruit, cereal and/or yogurt, plus the usual toast and hot drinks. I’m not sure what the normal arrangements for breakfast are, but obviously at present they can’t have a self-service buffet, so most meal options are brought to your table.

There is a choice of starters and main meals in the evenings, with guests asked to say what they would like after breakfast. Fair enough in my view, as there is obviously no point in the hotel preparing meals nobody wants! That applies especially at the moment with visitor numbers so low – partly due to the virus and partly (I understand) as a deliberate policy to help preserve social distancing. During my stay, there were never any more than six guests including me.

Evening meals are served at 7.00 pm, with pre-meal drinks in the small bar from 6.30. Although the latter is obviously optional, I did find this an enjoyable way of meeting and getting to know my fellow guests. There was one couple and all the others were solo ladies around my age or older. We all got along well. I enjoyed hearing what they had been doing during the day, as most of them knew the area better than I did.

The evening meals were very good. They comprised five courses: starter, main, dessert, cheese and biscuits, and coffee. That may sound a lot, but the portions were sensibly sized, so I didn’t feel too guilty!

Fish seems to be a speciality and I particularly enjoyed the sole I had on the first night. One thing that surprised me, though, was that the menu never included any vegetarian main courses. They do cater for veggies and those with special diets, so I’m sure if I’d asked I could have had something. For three nights I was perfectly happy with what was on offer. But as I eat vegetarian quite often at home, it might have been nice to have that option on the menu as well, some nights at any rate!

My twin-bedded room was more than adequate for my needs. It had a small (by modern standards) wall-mounted TV, but that was fine for a short visit. The WiFi worked well once I sorted out a bit of confusion over the password, and I was able to use it in my room as well as the communal areas. The bathroom was a good size and had a bath with a modern electric shower over it. My bed was comfortable and there was plenty of storage space. I was well looked after and had an enjoyable and relaxing stay.

Financials

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

I paid £360 for my three-night stay (including breakfasts and evening meals) at the Channel House Hotel, which I thought very reasonable. If I had chosen bed and breakfast only, the price would have been £285. As you may gather from this, the hotel charge a fixed price of £25 for their five-course evening meals.

You can check current prices and availability on the Hotels.com website. You can book this way (which I did) or directly with the hotel. The latter method may or may not work out cheaper.

Things to See and Do

Inevitably at the time of my visit a lot of places and attractions were either closed or not operating normally.

I was particularly disappointed that the West Somerset Railway – said to be the longest heritage railway in England – was not running. At the time of writing there is still no indication when it will reopen.

I was though able to visit Dunster Castle, which is owned by the National Trust. As a Trust member I was able to get free admission, but had to book a ticket in advance on the website. They are doing this to ensure that visitor numbers are controlled, to help maintain social distancing.

Dunster Castle goes back to at least Norman times, with an impressive medieval gatehouse and ruined tower providing a reminder of its long and sometimes turbulent history. The castle became a lavish country home during the 19th century for the Luttrell family, and the furnishings and decor are largely from that time. The castle is surrounded by a terraced garden displaying varieties of Mediterranean and subtropical plants. Below this is a riverside woodland garden leading to a historic working watermill (unfortunately closed at present).

Due to anti-virus measures, visitors have to follow a long and winding route through the gardens to get to the castle, so my top tip is to allow longer than you would expect to arrive at your allotted time. Bear in mind also that you will be expected to follow a similarly circuitous route afterwards to get back to the car park. This means there is a lot of walking before and after you see the castle itself. I was okay with that, but I suspect some older visitors might struggle.

Anyway I duly arrived at the castle entrance and, after giving a phone number for track-and-trace and using a hand sanitizer, was allowed to enter (wearing a face covering, of course). Only certain parts of the castle were open to visitors, not including the kitchens for some reason. On the plus side, though, with so few visitors there was plenty of room to see everything on view. Although entry is by timed ticket, once in you are allowed to stay for as long as you want (or at least for as long as you can stand wearing a face covering).

I spent around an hour in the castle, after which I was ready for some refreshments. I am not sure if the castle has a coffee shop normally but if so it was closed. They did though have a pop-up cafe in the gardens (you can just see this to the left of my photo above). I had a hot chocolate and a slice of coffee-and-walnut cake here, which I very much enjoyed even though it wasn’t exactly a healthy option!

Dunster Castle was the only formal visitor attraction I visited during my stay, and I do recommend it, so long as walking isn’t a problem for you.

In fact, I did a lot of walking throughout my break. That included along the seafront, from the harbour to the Butlins camp, and also up North Hill, which takes you to the edge of Exmoor. On the walk up North Hill, I stopped to admire the 16th century St Michael’s Church (also sadly closed).

Near the church is an area called Church Steps, where there are some beautiful thatched cottages.

I would like to show you the view across the bay from the top of North Hill, which I am told is quite spectacular. When I got to the viewing area, however, a closed and padlocked gate barred my way, with a forbidding warning notice about Covid-19. Having made the not-inconsiderable effort to walk up the hill (most people drive), this was pretty disappointing. I sat at the roadside for a few minutes collecting my thoughts before heading down again. That was probably the low point of the holiday!

On my last day in Minehead I took a short stroll to Blenheim Gardens, a well-tended and attractive public park. The cafe was closed as well, but I wandered down to the harbour and enjoyed a takeaway cream tea there 🙂

Closing Thoughts

Overall, I enjoyed my visit to Minehead, though obviously the fact that so many places were closed did spoil it a little. I had an enjoyable, relaxing time, with plenty of healthy fresh air and exercise (just as well in view of the cakes and five-course dinners!). I will hope to go back again when things are more normal.

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

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

September 8, 2020

My Coronavirus Crisis Experience: September Update

Nick Everything Else reviews, travel 6 Comments

Regular readers will know that I have been posting about my personal experience of the coronavirus crisis since lockdown started (you can read my August update here if you like).

As previously I will discuss what has been happening with my finances and my life generally over the last few weeks. I will try to avoid being too repetitive, as I have obviously published a few of these updates now and not everything changes that much from one update to the next!

As always, I will start with the money side of things.

Financial

As usual, I’ll start with my Nutmeg stocks and shares ISA. This has gone up and down over the last few weeks, but is currently at £16,041. At one point it was as high as £16,270, but it’s still over £400 up on last month, so I’m not complaining. Here is a screen capture covering the last three months…

You can read my in-depth Nutmeg review here if you like.

My two Buy2LetCars investments are still delivering the promised monthly returns without any hassle. I was pleased that Buy2LetCars also chose to feature me and my blog posts about the company in their email newsletter last month. That brought me a few more readers, so a special welcome if you are one of them! Again, if you’d like to learn more, you can read my review of Buy2LetCars here and my more recent article about the company here.

There is nothing particular to report about my Property Partner or Kuflink investments, both of which are ticking along satisfactorily. As regards The House Crowd, another of their properties in which I hold a share has just been sold, so that is around £2,000 in capital I am expecting back in the next month or two. Unfortunately I am not expecting to make any profit on these two investments, though I have of course received rental payouts – or dividends if you prefer – from these properties over the time I’ve held shares in them.

As regards Crowdlords – which I discussed last month – I wrote asking about two investments I still have with them, Kennington Road eco-houses and Trent House. I had received no information from Crowdlords about either of these projects since before lockdown in March, which I found disappointing.

I received a prompt and courteous reply from Crowdlords co-founder, Richard Bush. He told me that the properties in question were proving difficult to exit from and the situation had been complicated by the change in their FCA status. He added: ‘Prior to the FCA announcement we were about to launch new investments for both of these properties, giving those that wish to leave an exit option and others who like income-based investments to take over, alongside mortgages. This is still our plan, though at the same time we will also try and sell both properties…Once we’re back up and running with Equity and Mezzanine investments we will turn our attention to the BTL’s (including Kennington Road) and still hope to have an exit option available by the end of the year. In the meantime Trent House will continue to earn 6% p.a interest.’

So I guess that is somewhat reassuring, but I’m still not holding my breath about seeing any return from either of these projects any time soon. It’s a shame because I’ve always liked Crowdlords and had good returns from my other investments with them. But obviously these are unprecedented times and property markets generally have been struggling. I will wait to see what new offering the company comes up with, but it will have to be very enticing indeed to persuade me to invest with them again.

As mentioned last time, I applied for the second (and final) round of SEISS (Self Employed Income Support Scheme) payments in mid-August and duly received payment a few days latter. I haven’t seen any complaints or problems about the administration of the SEISS programme and think HMRC deserve a lot of credit for how smoothly it has run. I do know there were issues over eligibility, however, so my commiserations go to any self-employed people who – for no fault of their own – failed to qualify.

In any event, if you are self-employed and eligible for a SEISS payment, applications are open now, so don’t delay!

Personal

In the last few weeks I have done a few things for the first time since lockdown in March. For one, I took advantage of the government’s Eat Out to Help Out scheme to enjoy a couple of pub lunches (okay, one was more of a pub brunch). It was great to be doing something more normal again and catch up with old friends I hadn’t seen since the start of the year. And paying half-price was a nice bonus!

It was obviously a different experience from the usual. When my friend and I arrived for our pub lunch, we were met by a man at the door who checked our booking and showed us to our table (no chance to pick our own as we would normally). One thing I noticed was that no staff were wearing masks and only a few customers. As a mask sceptic this didn’t bother me, but again I was struck by the incongruity of a situation where you can be in a pub surrounded by other diners for a couple of hours with almost nobody masked, then go to a supermarket and be forced to put one on while there (unless you’re exempt, of course).

In any event, I really enjoyed my pub lunch and catching up with my friend. We couldn’t pay cash as we would normally – nobody wants cash nowadays in case it’s contaminated – so my friend paid on his card and I later forwarded my half to him via PayPal. That was a first!

I also went to Birmingham to meet another old friend for brunch at one of the Wetherspoons pubs there. It felt odd to be on the streets in Brum and see so many people wearing masks in the open. Nobody does this in the small town where I live, but I guess it’s a bit different in big cities. Anyway, my friend arrived before me and was directed to a table at the back of the pub. I then had to wander around the tables looking for him behind various protective screens, feeling like a voyeur or a spy. But thankfully I found him eventually!

The instructions on the table told us to order via the Wetherspoons app. That task fell to me, as my friend doesn’t have a smartphone. I managed to do it after signing in to the pub’s free WiFi. I saw several people struggling with this, though. They either ended up hailing a passing waitress or gave up and ordered at the bar.

Anyway, the app worked well for me, and I was impressed by the speed with which cutlery was brought to our table, shortly followed by our meals (two all-day breakfasts). We both also ordered coffee with limitless refills. I was pleased to discover that this was still on offer, though you are now supposed to ask a staff member for a new mug before going to the coffee machine again. I did this, but I don’t think anyone else did.

I have just returned form a short break in Minehead on the Somerset coast (my cover image shows the harbour with the Butlins camp in the background!). I won’t say too much about this here as I plan to do a separate post about it soon. But I will say it was an enjoyable and relaxing break, only slightly marred by the fact that many of the attractions were closed due to Covid. I did manage to visit the nearby Dunster Castle (pictured below), which is owned by the National Trust. Sadly only some areas were open to the public, with various restrictions due to the virus. But on the plus side, because visitor numbers were being limited, I had plenty of space to appreciate what was actually on view!

Going back to masks and such matters, I have been wearing a full face shield in supermarkets (I’m not going to other shops till masks are voluntary again, though I might make an exception if the shop clearly states that they welcome non-mask-wearers). I find this a good compromise as it is much easier to breathe through than a cloth mask, and I haven’t yet been challenged by any staff members or self-appointed mask police. I also recently obtained a half-face shield which covers you from the nose downward. That makes it more portable, and also means your vision isn’t impaired (shields are made of clear plastic, but with my eyesight I struggle a bit reading lists of ingredients through them). In case you are interested, here’s an Amazon ad (affiliate) for some half-face shields similar to the type I bought.

I am looking forward to another late summer break in a couple of weeks’ time. I shall be going to Llandudno in North Wales, one of my favourite UK holiday destinations. I shall be staying in a self-catering apartment and am looking forward to shopping for food without having to put a mask on (Wales so far having sensibly resisted the pressure to make masks mandatory in shops). More about that next time!

And that’s it really. Recent reports are indicating an uptick in the virus among young people especially, and of course the doom-mongers are out in force again. Nonetheless, I think there are still plenty of reasons to stay positive. Hospital admissions and deaths are thankfully still at very low levels. And in my personal opinion we are very unlikely to see a ‘second wave’ anywhere near as bad as the first. Of course, it’s important to continue taking sensible precautions such as hand-washing and using sanitizing gel, along with social distancing (if you can keep up with the ever-changing rules). Personally I think that any marginal benefits from wearing masks are more than offset by the way people misuse them in practice. But I’d better not go on any more about that!

I hope you and your loved ones are staying safe and sane during this crazy time. As ever, if you have any comments or questions about this post, please do leave them below.

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

August 4, 2020

Get Smart Security for Your Home With Boundary

Nick Everything Else reviews, property, sponsored post 6 Comments

Today I’m talking about the important subject of home security.

Obviously it’s not something anyone likes to think about, but the risk of being burgled is very real. It is estimated that a burglary is committed every 40 seconds in the UK (it’s impossible to give exact figures as many such crimes aren’t reported). That means in the time it takes you to read this article, four homes are likely to have been burgled.

Of course, there are certain precautions you can take to reduce the chances of becoming a victim yourself. These include:

Keep all windows and doors locked even when you’re at home.
Keep garages and sheds locked as well, especially if they contain tools or other items that might be useful to a burglar.
Try to vary your daily routine so that burglars (who often live nearby) don’t notice and take advantage.
Avoid mentioning holiday plans too widely (especially not on Facebook or other social media).
Install timers on lights so they go on and off in a seemingly random way while you are out.
Install security lighting that will detect visitors (invited or uninvited) and illuminate them.

These and similar measures can reduce the likelihood of a burglar targeting your property. But of course, they are unlikely to be sufficient alone. You need a burglar alarm, and ideally a complete home security system. Like this one, perhaps…

Boundary Smart Security

If you’re reading this blog, chances are you have a burglar alarm already. But especially if it was fitted a few years ago, it may not be as effective as you hope.

Older alarm systems are easily defeated by determined, professional burglars. And especially if you live in a nice house and have an expensive car or other signs of wealth, you could well be targeted by such individuals. You need a modern smart security system to provide both maximum protection from burglars and the peace of mind that comes from this.

Boundary aims to provide UK residents with state-of-the-art home security at an affordable price. Their new high-tech Boundary Alarm system is based around a central hub (see cover image, above) that wirelessly connects to each Boundary device in your home and allows you to control them from anywhere using a single smartphone app. It’s a sophisticated system that can still be installed by anyone and set up easily (though optionally you can pay for professional installation if you prefer).

You can customize your alarm system as you wish with door and window sensors that detect exactly when any door or window opens in your home and set off an alarm. You can also incorporate infra-red motion detectors (wireless and pet-safe) that will detect any human movement when you’re not at home. Other features include a key tag to easily arm and disarm the system when you’re coming and going, and a 95-decibel siren (pictured below) to alert your neighbours if your home is broken into.

Plans

Boundary offer four different plans, with no long term contracts, cancellation fees or hidden costs. Full details can be viewed on the Boundary website, but briefly they are as follows…

Lite – This is the lowest cost option, with no ongoing fees. It covers two users, two sensors, the Boundary app, smart home integration and Boundary Neighbourhoods (once this service is launched). The latter is a ‘neighbourhood watch’ dashboard to allow people in local areas to connect online to share details of crime and suspicious activity. You will have the option to link your Boundary alarm so that if it goes off, your neighbours will automatically be notified.

Starter – This includes all the features above and others, including push notifications when the alarm goes off, alarm-set reminders when you leave the property, occupied home simulation (requiring smart light bulbs), and so on. This plan costs £4 a month.

Plus – This includes all the features above plus an extended three-year warranty, automated keyholder calling, partial setting (e.g. downstairs only), and more. This costs £8 a month.

Complete – This also includes police response. When the alarm goes off, a security guard at an alarm receiving centre (ARC) will be automatically notified and will immediately verify whether your home is being burgled. If confirmed, the security guard will request a police response and notify the property owner and/or nominated key holders. The complete plan also includes an annual maintenance visit by an engineer. The cost of this plan is £25 a month. Note that with this plan professional installation is mandatory.

Boundary is still in pre-launch phase and right now you can get a voucher for £50 off the price of any system costing £450 or more just by signing up to their newsletter using the form on their website (screen capture below). There is of course no obligation to use this – but if you’re at all interested, I recommend signing up now to get your hands on the £50 discount code.

Self-install alarm systems are due to be sent out by the end of August, while for those who choose professional installation, the company say that currently they expect delivery and installation to take place in October.

You can ask for a no-obligation quotation via the website to get a price for a system tailored to your exact needs, with no nasty surprises further down the line. At the very least, if you think Boundary Alarm could be the answer to your home security needs, do sign up now for their email newsletter and £50 off voucher.

Note: This is a fully updated repost of my original article from April 2020.

Disclosure: This post includes my referral link, so if you click through and make a purchase, I may receive a commission for introducing you. This will not affect the price you pay or the service you receive.

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

«< 8 9 10 11 12 >»