No going back....gaining £s and losing lbs...
Comments
-
Thank you Jodles! Its going well so far this month...just got to make this a way of life!0
-
A good evening on Swagbucks - I set my DD onto playing games, and she took to it like a duck to water! Have claimed another £10 paypal voucher so that's £35 this month
0 -
Stayed up late last night and I'm feeling it this morning! But, I did manage to open a Tescos current account for the 3% interest.
So now I have:
TSB current account (up to £1500 at 3% and cashback on contactless)
Nationwide (5% for first year on up to £2500)
Tesco (3% on up to £3000)
All at a higher interest rate than my mortgage the Tesco one isn't nearly full yet but I'll work on that! 0 -
How refreshing to see someone in this forum taking a sensible financial attitude to pension and savings as well rather than mindlessly focussing solely on paying down their mortgage "because that's what you do". Good on you.0
-
Stayed up late last night and I'm feeling it this morning! But, I did manage to open a Tescos current account for the 3% interest.
So now I have:
TSB current account (up to £1500 at 3% and cashback on contactless)
Nationwide (5% for first year on up to £2500)
Tesco (3% on up to £3000)
All at a higher interest rate than my mortgage the Tesco one isn't nearly full yet but I'll work on that!
Just in case you hadn't noticed, now you have a Nationwide FlexDirect Account, you can open a Flexclusive Regular Saver and save up to £500 p/m into it at 5%. You could prioritise saving into this each month before starting to fill the Tesco account.0 -
A good evening on Swagbucks - I set my DD onto playing games, and she took to it like a duck to water! Have claimed another £10 paypal voucher so that's £35 this month
What I do with all 'free' money [stoozing int, cashback, FIT, RHI, some matched betting etc] is add it to my SIPP to harvest the tax relief boost and investment growth. Been doing this for 1.5 years and SIPP has accumulated £13k inc TR and growth just on dribs and drabs of non salary income!
Public sector & Private DB schemes here too but need a funding gap solution Or a holiday fund...
Cheers0 -
I've started a couple of diaries here because I don't really know where I belong. I'm debt free except for my mortgage, and I'm now looking to achieve several goals at once.... save towards my (hopefully) early retirement, save towards my DDs future, and pay off my mortgage (currently just under £30000 but with a 22 year term and I want to retire in about 15 years).
My mortgage interest rate is low at the moment (1%) so whilst I want to build a pot to pay it off, there's no point offsetting when I can get a higher interest rate in a current account! So, my plan is to build up a stash of cash, enough to max out extra pension payments (£500 a month) and put money aside for my mortgage to pay off when interest rates rise.
If I can achieve a goal of saving £800 a month, I could put £500 in pension pot, £200 in a stocks and shares ISA for my girls and £100 overpayment on the mortgage. That's an outrageous amount of money to save, but I'm going to try! Thatll be £9600 a year...
Any advice gratefully achieved because this is quite a lofty goal for me.:T
Great to see a spread of savings as a normal capital repayment mortgage already has an end date before retirement. And with such a low int rates OPs don't make much difference. So it makes little sense to pay it down quicker unless there are very good set of circumstances. Far more money to made through S&S ISA and pension wrappers.
Asset rich cash poor, no thanks
Cheers0 -
jeepjunkie wrote: »What I do with all 'free' money [stoozing int, cashback, FIT, RHI, some matched betting etc] is add it to my SIPP to harvest the tax relief boost and investment growth. Been doing this for 1.5 years and SIPP has accumulated £13k inc TR and growth just on dribs and drabs of non salary income!
Public sector & Private DB schemes here too but need a funding gap solution Or a holiday fund...
Cheers
Wow, that's great extra income in a short time! What's FIT and RHI as income sources?0 -
jeepjunkie wrote: »Great to see a spread of savings as a normal capital repayment mortgage already has an end date before retirement. And with such a low int rates OPs don't make much difference. So it makes little sense to pay it down quicker unless there are very good set of circumstances. Far more money to made through S&S ISA and pension wrappers.
Asset rich cash poor, no thanks
Cheers
I am planning to keep a little savings pot incase interest rates rise, but I'll keep it in a current account.0 -
Little win this morning, sorting through my papers and I found £20 John Lewis vouchers! I'll put that to my weekly shop and put £20 in my savings pot.
Total so far £280 / £8000
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards