Pound to £5k Challenge

Week Eleven

WEEK ELEVEN

The year is flying by faster than I ever could have imagined and the headlines have been dominated by the Spring budget announcement earlier this week

Your usual money making offers are further down this email (don’t worry!)

There’s a lot of noise floating around on this, but it won’t all relate to you. Here are the bits that really matter to you:

• National Insurance rates to fall to 8% from 10% will net the average employee an extra £450 in their pockets per year (yes, it did also fall by 2% earlier this year from 12% but they’ve cut it again!)

• ISA allowances will increase from £20,000 per year to £25,000 that you can tuck away tax free but the additional £5,000 must be invested in “British Equities” - yet to find out exactly what they are!

• Child benefits currently need to be repaid (in part) when you earn £50,000 per year and in full when you earn £60,000. This will now increase to £60,000 where you start having to pay some back and £80,000 of earnings where you would pay it all back.

• VAT registration limits for businesses will increase from £85,000 to £90,000 meaning that less small businesses will be required to register for VAT meaning less admin for them and lower prices for customers

• Capital Gains Tax (CGT) on residential property sales will fall from 28% to 24% for higher rate taxpayers. This does not apply to your home!

SIGN-UP OFFERS

March is lining up to be one of the most attractive months of the year so far for big offers where you can get paid a hefty amount just for opening an account, and this week is just as good

£30 FROM ME + UP TO £50 FROM REVOLUT

Revolut is a financial super app that has millions of customers worldwide, and it is an app well worth checking out, even if it’s just to take advantage of this offer:

1. Sign up to Revolut via my link (message or email me for this)

2. Add money to your account

3. Order a physical card

4. Make 3 purchases with your virtual or physical card of £5+ each (gambling, gift card purchases or ‘cash transactions’ don’t count)

5. Send me a message or email once done and I’ll send you £30 cashback via bank transfer or PayPal

6. This is first come first served due to limited links AND the first five of you to do this will also get 5% cashback on your Revolut spending up to £50!

FREE DAYS OUT!?

9 - 17 March 2024 marks National Lottery Open Week

This allows you to visit hundreds of National Trust locations, castles and museums for free if you have a National Lottery ticket or scratchcard

If you don’t have a lottery ticket or scratchcard, you can purchase one for as little as £2.50 in order to get a cheap day out for your family!

As this involves buying or having a lottery ticket, please be gamble aware

BOOSTED CASHBACK THIS WEEKEND

Both Cheddar & JamDoughnut are cashback super-apps that I use to save on my groceries every single week! They have bumped up their cashback rates for this coming weekend and you could bag cashback on your shopping such as:

• M&S - 6% (Cheddar & JamDoughnut)

• Tesco - 4% (Cheddar)

• Morrisons - 4% (Cheddar & JamDoughnut)

• Sainsburys - 4% (Cheddar)

• Aldi - 3.5% (Cheddar)

• Waitrose - 3.5% (Cheddar)

• ASDA - 3% (Cheddar & JamDoughnut)

• & many more that are worth checking out across the apps

The ways that these apps work is that you buy a gift card for the store you’re going to spend at and then use that at the till instead of using your debit/credit card

Cashback gets paid into your account where you can withdraw to your bank or use towards more gift cards in the future

What’s more, if you are new to these apps you can get a £2 bonus when signing up with my codes (detail below)

BONUS ON AIRTIME REWARDS?

Also for this weekend only, enter the code “GIFT24” on Airtime Rewards to get a £1 bonus when you spend at any of their retailers

New to Airtime Rewards? Get a bonus below:

CHELTENHAM NEXT WEEK!

Quite possibly the most profitable week in the side hustle calendar for many, Cheltenham Festival marks a barrage of betting offers that when combined with matched betting techniques can make you a small fortune

Matched betting is a tax-free side hustle that I introduced in week 6 that has made me over £3,000 with very little effort over recent years

The upcoming week marks the Cheltenham Festival and it is well worth getting involved in the offers (although don’t rush!) to see whether you can make a decent profit

Unsure how it works?

Check out my free matched betting guide below that has earned our community £10,000s in tax-free cash!

LAST REMINDER!

If you haven’t already kindly voted for me, I would greatly appreciate your help with this please!

If I have ever helped you save money, make money, or you just enjoy what I do, could I please ask you to vote me for “Money Influencer of the Year” at the link below?

It’s a tough competition but if you would be so kind, I would be exceptionally grateful! To vote for me, you just need to enter the following:

• Name: Thomas, The Bank Engine

• Handle: thebankengine

• Rating: whatever you feel!

• Reason: completely up to you!

• There are some other optional questions too!