Managing your money with Nutmeg

Being an adult is a complicated business where we have to face up to grown up responsibilities such as having to do self-assessments for the Inland Revenue, trying to find the best broadband provider whilst living in a rural area, finding the best mortgage for our personal situation and negotiating the best deal on our car insurance. Another area that we have to tackle is how to best manage our finances.  Let's face facts: life is expensive. These days being a parent comes with a massive financial burden. It has been estimated that it can cost a staggering  £227,266 to raise a child to adulthood (according to the Centre of Economic and Business Research) making it vitally important that we make the most of our savings. Managing money can be a minefield, which is why we need to make sure we do our research before making any long term decisions. 

Nutmeg.com offers a financial solution to investors offering a simple way to manage savings online. It provides a effective way to create a professional portfolio that can help people make the most of their savings.

Nutmeg is an investment company that has reinvented the wealth management industry, with an aim of making it accessible to everyone, giving complete transparency and peace of mind. With a team of talented, dedicated individuals, they aim to create an intuitive service that is an example of how investing should be. Nutmeg can help you set up your portfolio in under 10 minutes; you can create as many funds as you like and you can top up, transfer or withdraw whenever you like. They regularly rebalance your portfolio, selecting from a diverse, global range of assets, to ensure you have the best chance of staying on track.

To set up a professional portfolio, all you have to do is tell Nutmeg’s team about your financial situation, how much you want to invest, your time frame and your attitude to risk. With this information, Nutmeg build and manage a portfolio for you, diversifying your investments. Their experienced investment team monitors your portfolio, adjusting the asset allocation and rebalancing every month.  In this way, they aim to produce the best return, at low cost, for the risk level you choose.

You can start with as little as £1,000 per fund (plus minimum monthly contributions of £50 for portfolios below £5,000) and set up as many funds as you like — whether you are investing for your children's university fees, saving for a deposit on a new home or just saving for a rainy day— each with their own time frames and risks. You can open a Nutmeg ISA, start a Nutmeg personal pension (min investment £5,000) and transfer your ISAs and personal pension pots from other providers, consolidating your investments to suit your financial needs.

You have access to an online, jargon-free overview of your investments whenever you like, so you’ll always know exactly how they’re performing and how much you’re paying.  You can then sit back and relax while the investment experts constantly monitor and rebalance your portfolio to keep it on track with your goals.

The cost of choosing Nutmeg to manage your investments is similar to the cost of doing it yourself, and avoids many of the fees charged by primary alternatives, making it a good value service.
Nutmeg charges a simple fee of between 0.3 and 1.0%, which is based on the value of your investment, which gives you:

• Professional discretionary investment management
• Free withdrawals on a weekly schedule
• 24/7 access to an online account
• Regular rebalancing to keep your funds on track
• Live chat, phone, and email support


As with all investments, your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest.  This post has been written in association with Nutmeg.

New Year, new budget: move away from old habits and start saving money!

They come around every January, those brief moments of virtue and determination known as New Year’s Resolutions. They don't always pan out, but we use them to give ourselves ideas of what we need to achieve in the New Year. If your resolutions were to spend less money in 2014, here are a few ways you can make that happen.
 

Set Goals and Be Specific
At the beginning of the year, many people decide on a money-saving goal. That goal needs to be specific, however. Look at your monthly bills and decide how much you want to set aside each month, whether it's to add to your savings, pay off your debts, or spend on something special. Once you've set your goal, it's time to start thinking about the strategies you can employ to achieve them.

Establish Money Management Time
One of the reasons that many people fail to achieve their money-saving goals is that they don't allow themselves the time they need to think about their finances. For many people, saving is something that only happens in times of crisis. One way to get around this problem is to establish a certain amount of time each week as time to look at financial information. Save receipts, bills and other financial documents to look over during this time. You'll keep on top of your financial situation more easily this way and be able to make the right decisions to reach your goals.

Eliminate One-use Purchases
One type of expense that's easy to eliminate is the one-use purchase. These items, which don't contribute any lasting value to your household, can be cut out with a little planning. Carry an insulated flask of coffee to work instead of buying from coffee shops, or fill a bottle with tap water instead of buying expensive bottled water. Try substituting washable microfiber towels for paper kitchen roll. In general, anything you buy in a single-use package is going to be much more expensive over the long term than a more durable solution.

Cut Your Energy Costs
With gas and electricity prices rising all the time, getting your energy use under control is a good way to save money. It's also good for the environment, so you'll feel even better about yourself when you achieve it. One easy way to cut down on the amount of money you waste on energy is to replace outdated incandescent bulbs with compact fluorescent or LED bulbs. It might seem like you're saving money by buying old-fashioned bulbs, but it's a false economy: not only are they much more expensive to run, they don't last nearly as long as their more modern counterparts.

Plan Your Food Shopping
Supermarkets and other retailers rely on impulse purchases and great-seeming offers to get customers into the shop and spending money. We see the “buy one, get one free” label on a shelf and reach for the package, forgetting that we don't even want one of whatever it is we're buying, let alone two. Making a weekly meal plan and sticking to it will help you come out of the shop with only what you need. This isn't a small savings, either: some sources estimate that the average household wastes £500 a year on uneaten food.

Making the decision to save money is easy, but building the habits that support it can take a little work. The first few months of your new financial plan will require constant watchfulness to make sure that you don't fall back into old, inefficient ways of spending. However, like any good habit, once you get into the groove of planning ahead, keeping a watchful eye on your finances and buying only what you need, you'll wonder what you ever found difficult about it.

*This post is a PR Collaboration*

The Weekly Essentials Challenge - How Much Could YOU Save??

Switch To Poundland and Save Money

With everything in the supermarket costing so much more these days, shopping around for bargains and special offers can really cut a chunk off of the weekly shopping bill.  But this can be complicated and time consuming as we try to work out which supermarket will be the cheapest option from one week to the next.   So it was with real interest that I heard that Poundland has launched over 100 new grocery lines, selling big brand favourites for just £1!

Poundland stocks more than 3000 everyday essentials and over 1000 top brands including household favourites such as Warburtons, Heinz, Cadbury's, Kellogg's, PG Tips, Dorset Cereals and Ambrosia.

I was challenged to spend £15 in store instead of in my usual supermarket to see how much I could save by  incorporating my Poundland shop into my weekly spend.  I mostly opted for breakfast items and packed lunch and snack products as these are essentials that we buy week in, week out for the kids.  The range also included chilled items, fresh fruit and vegetables and baked goods.

Here is my shopping list with the prices of the products that I would have paid in a supermarket at full price excluding any special offers (sourced from mysupermarket.com):

                       

Kellogg's Cornflakes 375g                           £2.09                                        

Kellogg's Rice Krispies Bar                         £1.99                                         

Oreo Cookies snack pack                           £1.29                                          

Mug Shot Pasta (3 for £1)                           75p each

Tilda Mushroom Rice (3 for £2)                  £1.59 each

Fruit Bowl Yogurt Raisins                            £2.00

Fruit Factory Lunchbox Snacks                   £1.49

       Quavers 5 pack                                   8 for a 6 pack

Heinz Squeeze and Stir (3 for £1)               59p each

Daddies Brown Sauce 600g                       £1.98

Nestle Shreddies                                         £2.29

Ready Brek Squeezers                               £2.18

Harvest Chewee Bars 8 pack                     £1.69 for a 9 pack

Capri Sun 5 pack                                       £1.86

Total cost in Poundland £15.00

     Total cost in supermarket £29.33

Obviously supermarkets may sometimes have BOGOFs, 3 for 2 offers or price cuts on the products you want to buy, but it is good to know that with Poundland everything costs just one pound every single day, making it easier to budget and compare deals.  Some of the products came in slightly smaller sizes but the savings were still impressive. Just be sure to do a quick weight comparison to see if it is still better value. The sell-by dates are all well in the future so you are not compromising on shelf life or quality.  These are the same top brand products that you will find in a supermarket, consistently on sale for just £1.

The Ready Brek Squeezers are a brand new product on the market that we've seen advertised on TV.  I didn't mind giving them a try for £1 but wouldn't pay the £2.18 price tag that the supermarket next door to Poundland was charging.  Freddy was particularly pleased with this bargain and wanted to try one as soon as we got home.

I was quite amazed at the savings to be made in Poundland on everyday grocery items.  I've never really considered Poundland for food shopping before, but was pleasantly surprised!  The only downside is that my nearest store is in the middle of a shopping centre.  I could only buy what fitted in my hand basket and then I had to carry my bags back to the car park which is quite a trek, meaning I couldn't buy too much, but for buying a few big brand essentials it is excellent.  I will definitely stock up on Kizzy's lunchbox snacks.  The Fruit Bowl and the Fruit Factory dried fruit snacks are her favourites, but they are so expensive in my local supermarket.  For £1 a pack, she can have them every week!  I am very glad to know about all the grocery items available to buy in store at Poundland and will definitely include them when considering my weekly shop in the future.  The 15 items I purchased in the challenge saved me a whopping £14.33 against a supermarket shop, that makes a Poundland basket virtually half the price of a supermarket basket.  That is a saving you simply can not ignore!!

Find out more on their website's Food and Drink section. 

I received a £15 voucher in order to take the grocery challenge with Poundland.

Christmas present ideas that won’t break the budget!

In these times of financial hardship, many of us still feel compelled to go out and buy the most costly presents we can find. But it doesn’t necessarily have to be this way. There are some great Christmas present ideas that every member of the family will love, without breaking the bank.

Try and get Christmas lists together long before Christmas in order to get an idea of who wants what and how much it is going to cost. You may want to consider limiting children to one large present and a series of smaller presents as costs can spiral out of control quickly. If they have one big request such as a bike or a games console, try looking online to compare prices before purchase.

Kids will often appreciate surprisingly cheap presents such as torches or keyrings, so it is worth looking around for clever stocking fillers that don’t cost the earth but will be cherished by your child. Even little notebooks and a set of crayons can provide hours of fun and while there are some great gadgets out there, sometimes a book or a puzzle can be just as enticing for children.

Older children may want a CD or downloads of their favourite music. A great choice for teenagers would be a dock for their mp3 player that also doubles as an alarm clock for their room to get them up in the morning (just be prepared to have to tell them to turn the volume down now and again).

If money is tight, when it comes to your partner you could always buy them a few small presents as well as a book of homemade coupons that entitles them to something such as a night out while you babysit or a relaxing bath/massage. This can be a fun and cheap present that is sure to put a smile on your partner’s face.

Many supermarkets and high street shops have offers of 2 for 1 or 3 for 2 on their gifts, so it is worth taking advantage of these offers. Mugs, socks, small gadgets, chocolates and personalised gifts can make for lovely Christmas presents or stocking fillers.

Again, check online for prices on clothes, perfume, jewellery and electrical goods to compare prices – you may be surprised by the savings and with that extra cash you could buy something for all the family or simply use it to pamper yourself! There are so many great gift ideas for your family to bring a smile to their faces without causing financial hardship, so make sure you do the research before you shop. Have a very Merry Christmas! 

This is a guest post brought to you in conjunction with Sainsbury's.

Win £100 With The Tesco Baby Event

MAKE AMAZING SAVINGS AT THE FANTASTIC TESCO BABY EVENT

Until the 30th September Tesco will be holding its third and longest running Baby Event of the year, demonstrating its on-going commitment to giving families the best value for money and the best savings across all baby essentials. These great offers will be available in-store and online at Tesco.com to offer parents and mums and dads-to-be amazing savings across all of their favourite baby essentials helping the family budget go further.

This event will offer parents fantastic deals on everyday products such as nappies, wipes, toiletries and baby food, helping to ease the pressure on parent’s purse strings as they prepare to send their older children back to school. In order to celebrate the launch of this Baby Event Tesco will also be offering parents the chance to win a host of prizes every day on the Tesco Facebook page, @TescoBabyClub Twitter and at www.tesco.com/babyclub

Lorna Dickinson, Tesco Category Buying Manager for Baby said: “With this, our longest running Baby Event we demonstrate our on-going commitment to helping families. We understand that basic essentials such as nappies, wipes and formula can take a real toll on the family budget which is why we are offering parents their favourite baby essentials at prices they can afford. By running our offers both in-store and online we are doing what we can to make parent’s lives as simple and easy as possible whilst rewarding their custom with some great prizes we know families will love.”

With great savings such as Huggies Super Dry Economy Packs, Pampers Wipes six packs and Johnson's Baby products at half price, parents can save on all their baby essentials both online and in store.

In conjunction with the Baby Event, Inside the Wendy House is giving one lucky reader the chance of winning a £100 Tesco voucher.  To be in with a chance of winning this great prize, simply fill out the Rafflecopter Entry Form below.  Closing date is 12.01am on 28th September 2012.

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Back To School Savings Challenge

As the Summer Holidays race on, thoughts are turning to the big Back To School shopping trip to prepare for September.  The shops are filled with all types of back to school gear which can be a bit overwhelming.  It is tricky knowing where to start and decide exactly what your children really need.

The Back to School Spending Report surveyed over 2,000 people to find out how people are spending in these cash-strapped times and how they fit the new school year into their finances. The key findings from the report found that 35% of people feel burdened by the expense of kitting kids out for the school year and 15% always spend more than they expected on back to school.  However the stand out stat was that it costs a whopping £121 to send one child back to school every September. This figure includes the cost of shoes, uniform, stationery and school bags.

Most Wanted is the lifestyle magazine from UK's #1 money saving site Vouchercodes.co.uk.  They are dedicated to smarter shopping and are looking for ways to bring down the cost of the Back To School spend! By asking  parents to share tips and guidance on saving money and challenging bloggers to seek the best high street back-to-school basics, all for under £80, they are looking to find the best uniform, shoes, trainers, sports kit and stationery sets on the high street.

Kizzy is about to go into Class 5 next term.  She loves to be involved in the back to school shop and enjoys picking out new things for the new term.  I have been kitting out my kids for school since my eldest started Infants back in 1993!  So I have had lots of practice and have lots of experience in this field.  I love getting bargains and saving money is very important to me as a mum to five children.

Ready For School

• My first school uniform buying tip is to forget designer labels!  The supermarkets stock uniform must-haves for incredibly cheap prices.  If your kids are like mine, their polo shirts get discoloured and dirty very quickly, thanks to spilled lunches and messy art lessons. Asda stocks a two pack with lovely scalloped collars from just £2.50.  A few packs will see Kizzy throughout the whole academic year.  You only need to have enough in use for one to wear, one in the wash and one in the wardrobe.  They wash up really well.   Asda's Teen Bootcut Stretch Trousers start at size 10-11 years making them a really trendy option for young girls who want to look and feel grown-up at school and cost just £7 a pair.  PE shorts, T-shirts and tracksuits are also available at low prices.  You don't need to kit them out in Adidas and Nike...if your child is like mine, they will lose half of their sportswear throughout the school year anyway.  It is much less galling to replace a £2 PE sweatshirt than one that cost £25!

• Tesco also stocks a great range of cheap school uniform essentials and if you take advantage of the Summer Clubcard Exchange you can get £10's worth of clothing for every £5 Clubcard voucher!

• Our biggest uniform cost is the compulsory dark green, logo school sweatshirt which costs £15, but in true frugal style I bought Kizzy the larger size last year, making it fine for another year!  If any of your child's uniform still fits, then carry on wearing it!

• Shoes can pose an expensive problem for us as Kizzy has fallen arches and needs good support meaning that  many off the shelf cheap shoes are inappropriate for her feet.  Deichmann shoe shops sell a huge range of branded shoes and their serve-yourself policy allows us to try on as many pairs as needed to find a pair that supports Kizzy's feet.  The great thing is that they always have great prices and they also have a Buy One Get One Half Price offer on their Back To School range, meaning we can get both Kizzy's school shoes and PE trainers (non-designer of course) for less cash!  I don't go for top designer labels as their feet grow so fast.  And if her shoes from last year still fit her feet, we give them a quick polish and she is happy to wear them until she needs the next size up.

School Shoes!

• Making sure that all your purchases can be returned to your child if they end up in the Lost Property basket at school  is a really important money saving idea.  You can buy iron-in or sew-on labels, but I opt for a laundry marking pen which costs just 98p in Morrison's.  Most school uniform items have a label inside for putting on the owner's name, so a quick session of name writing will have your child's name prominently displayed on each garment.  

• Stationery can be expensive if your buy one of everything for each of your children.  I have learned however, that at Primary School children really only need a pencil case, a couple of handwriting pens, a couple of pencils, a sharpener, a rubber and a 6" ruler.  Forget the geometry sets, calculators, glue sticks, felt tips, highlighters, fountain pens, Sharpie markers and other paraphernalia.  They are not needed at this stage.  Most stuff beyond the basics are supplied in class if needed.  Plain versions of the essentials cost pennies, but if your kids want something a bit fancier then Wilkos current stationery range includes some great designs such as Photography, Nostalgia, Geo and Sweet Shop and currently have a 3 for 2 offer!

• Another trick I have learned is that after September, shops like Asda and Wilkos sell off their Back To School stationery with prices up to 75% off.   I stock up on all the bits and bobs we need, keeping them in a big plastic box in the garage.  I then have a constant supply of pencils and rubbers to give the kids all year round.  (My supply of fancy pens and pencils also make great party bag gifts or birthday presents throughout the year.)

• Lunch boxes can be really expensive.  I have paid loads of money for the latest, zip up, padded design in the past.  But one thing I have discovered is that they get really dirty, really quickly and end up having to be replaced just as quickly as a cheaper version.  Nothing really beats a plastic tupperware box which can have the lid  customized with stickers to make it personalized and easily recognisable in the pile of One Direction lunchboxes that will appear in the classroom come September.  The box can be properly washed every night keeping it hygienically clean.  Popping in a frozen insert will keep the food inside safe.  Drinks bottles are the same, don't waste a fortune buying a fancy one...kids will still chew the top off!  You can buy a cheap one from Poundland for £1 and replace it regularly keeping it hygienic and safe.  

• School Bags can be another big expense if you let them be!  Up until secondary school, children don't have much to carry to and from school.  They do not need something as big as a suitcase!  A simple zip up rucksack, tote bag or a messenger bag is perfect for school.   Wilkinsons, Primark or Asda are great shops to pick up a bag for about £6.

Sending your child back to school needn't be a huge expense.  A sensible , thrifty approach needn't mean that your child misses out on looking good and feeling confident walking through the school gates for a new school year.  Involving them in the shopping and extolling the virtues of saving money is an opportunity to teach them some valuable life lessons.  Remind them that by spending less on their uniform means more money for the fun things in life!!

Disclaimer:  I received payment for contributing editorial input for the back to school report.