IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Countdown to Freedom
Reply
Views: 461,118
Thread Tools Search this Thread Display Modes
# 8281
Goldiegirl
Old 16-12-2014, 11:57 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Nov 2012
Location: Kent
Posts: 4,951
Thanked 25,736 Times in 3,904 Posts
Default

I looked at that thread yesterday, and was a bit startled by some of the reactions.

I still think an early retirement/financial freedom sub board is a good idea, for things like discussing blogs, actions taken on a day to day basis to achieve goals, and maybe an early retirement roll of honour.

But I'd probably keep my diary here for a while where I feel safe, until I see how it all pans out.
Early retired - 18th December 2014
Sealed Pot Challenge - member 160
Virtual Sealed Pot Challenge 2014 - member 104 - Total 199.16
Save In 2014 Challenge - member 007 - Target 18,000 by 31/12/14 - Achieved 18,880
Goldiegirl is offline
Reply With Quote Report Post
The Following 11 Users Say Thank You to Goldiegirl For This Useful Post: Show me >>
# 8282
gallygirl
Old 16-12-2014, 5:19 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2004
Posts: 13,619
Thanked 80,420 Times in 11,663 Posts
Default

I wish I'd kept my mouth shut personally .
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Interim target: 100k by Aug 13 - met Sept 13 Next: 50k by Sept 14 - met Aug 14 Final: 0 by 1/9/15, currently 24.4k 24.3k 22.6k 19.7k
"Do what others won't early in life so you can do what others can't later in life"
gallygirl is offline
Reply With Quote Report Post
The Following 9 Users Say Thank You to gallygirl For This Useful Post: Show me >>
# 8283
maggiem
Old 16-12-2014, 5:44 PM
MoneySaving Convert
 
Join Date: Feb 2006
Location: South coast
Posts: 142
Thanked 443 Times in 90 Posts
Default

I rarely post - very boring - but had to respond to Gallygirl's comments. I thought your idea was great and very helpful. I have really enjoyed reading Tilly's, Gallygirl's, Secret Squirrel's and Goldie's diaries and others as I and my other half near joint retirement (he has retired already). Thanks Gallygirl for your effort - the response on other boards can be quite scary
maggiem is offline
Reply With Quote Report Post
The Following 10 Users Say Thank You to maggiem For This Useful Post: Show me >>
# 8284
patanne
Old 16-12-2014, 5:48 PM
MoneySaving Stalwart
 
Join Date: Apr 2009
Posts: 747
Thanked 1,084 Times in 404 Posts
Default

They are very entrenched in their opinions aren't they? However, I wonder about the validity of some of their ideas since the new affordability rules. Would there be problems re-mortgaging when a fixed term finishes for instance, especially once interest rates start to go up.
Just because you are paranoid doesn't mean they are not out to get you.
We are in the world of computer says and common sense goes out the window.
patanne is online now
Reply With Quote Report Post
The Following 10 Users Say Thank You to patanne For This Useful Post: Show me >>
# 8285
gallygirl
Old 16-12-2014, 8:47 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2004
Posts: 13,619
Thanked 80,420 Times in 11,663 Posts
Default

Quote:
Originally Posted by patanne View Post
They are very entrenched in their opinions aren't they? However, I wonder about the validity of some of their ideas since the new affordability rules. Would there be problems re-mortgaging when a fixed term finishes for instance, especially once interest rates start to go up.
The thing is patanne in general I agree with them about overpaying the mortgage. For youngsters it isn't always the best thing to do. Making minimum payments and investing the rest long term with it earmarked for the mortgage is financially the best idea in many/most cases. But there are a LOT of caveats to that:
  • Someone who can only afford an extra 10-20 a month - they can't realistically invest with that (and certainly not with Tilly Tidies )
  • You can't overestimate the fun and continued interest (or lack of ) of said Tilly Tidies
  • If circumstances (or general stupidity in not 'seeing the light' earlier ) mean you're on a short time scale then investing is not suitable
  • If you're a very risk averse person it's not suitable because you'll either worry all the time or put it into very safe bonds etc where the growth will be low.
  • An offset mortgage can be a way of holding an emergency fund in an efficient way.
  • As Ed has said, new rules mean 'better safe than sorry' for many
  • You can't underestimate the satisfaction of paying a mortgage off and the feeling of security that brings.
  • And many are only overpaying as one of many strategies, or overpaying leads to general financial interest.
If you asked Financial Bliss and Black Taxi if paying off the mortgage made the best financial sense for them I'm sure they'd say 'no'. But was it the right thing for them to do? Yes, no doubt about it .



Sorry for hijack Tilly .
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Interim target: 100k by Aug 13 - met Sept 13 Next: 50k by Sept 14 - met Aug 14 Final: 0 by 1/9/15, currently 24.4k 24.3k 22.6k 19.7k
"Do what others won't early in life so you can do what others can't later in life"

Last edited by gallygirl; 16-12-2014 at 8:49 PM.
gallygirl is offline
Reply With Quote Report Post
The Following 12 Users Say Thank You to gallygirl For This Useful Post: Show me >>
# 8286
Karmacat
Old 16-12-2014, 9:36 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Nov 2006
Posts: 20,920
Thanked 87,990 Times in 19,233 Posts
Default

Quote:
Originally Posted by gallygirl View Post
The thing is patanne in general I agree with them about overpaying the mortgage. For youngsters it isn't always the best thing to do.

....

If you asked Financial Bliss and Black Taxi if paying off the mortgage made the best financial sense for them I'm sure they'd say 'no'. But was it the right thing for them to do? Yes, no doubt about it
I still have a small mortgage on the French apartment - about E27,000 outstanding. Overpaying is nonsensical even at my age, because of the low interest rate and the high penalty charge, so I agree, it isn't always the best thing to do, not by a long shot.

And I remember Hypno working out how to repay the next chunk of her debt - there was an issue between a high interest charge, and a debt that could only be paid back in full, not in part, and she decided her repayments had to be made according to what suited her best psychologically, basically, rather than the financial logic. But she worked it out very clearly, and though it through on her diary at the time, before she made any payments, and thats why it made sense.

Tilly, sorry for the hijack too how are you, how's the conundrum about the pets that you were wrestling with?
Your destiny does not care about your past: live in abundance
Pension shortfall goal to make up: 60,000 gross, 48,000 net.
2825 achieved plus 71 vouchers
5.88% of the net and counting
Karmacat is offline
Reply With Quote Report Post
The Following 9 Users Say Thank You to Karmacat For This Useful Post: Show me >>
# 8287
Tilly MFW in 6 YRS
Old 17-12-2014, 12:22 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Nov 2011
Location: On the end of a phone normally
Posts: 6,336
Thanked 68,482 Times in 6,283 Posts
Default

Quote:
Originally Posted by gallygirl View Post
I wish I'd kept my mouth shut personally .
No way. It was a good idea, I guess it's too much change for folks who are so much better informed

There must be a happy medium.

You are always welcome to hijack my diary anyway. If it wasn't so late I'd get the kettle on and butter some scones.

3 sleeps to my holidays x x x

Tilly x x x x x x x x x
2004 387k 29 years - MF March 2033 2011 309k 10 years - MF March 2021.
Goal: 28/08/15
House 1:value 560k, Outstanding Mort just under 128k
House 2: value Euro 400k, owned outright
Weight loss target 9/36

Last edited by Tilly MFW in 6 YRS; 17-12-2014 at 12:41 AM.
Tilly MFW in 6 YRS is offline
Reply With Quote Report Post
The Following 11 Users Say Thank You to Tilly MFW in 6 YRS For This Useful Post: Show me >>
# 8288
Tilly MFW in 6 YRS
Old 17-12-2014, 7:24 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Nov 2011
Location: On the end of a phone normally
Posts: 6,336
Thanked 68,482 Times in 6,283 Posts
Default

Morning Karmacat, conundrum too complicated for my tired brain. If this is meant to be, it will work out

Even the kids are ready for change and DD is considering which pieces of furniture she wants

Hounds not walked this morning. No pennies to Tilly Tidy away.

Have a good Wednesday.

Tilly x
2004 387k 29 years - MF March 2033 2011 309k 10 years - MF March 2021.
Goal: 28/08/15
House 1:value 560k, Outstanding Mort just under 128k
House 2: value Euro 400k, owned outright
Weight loss target 9/36
Tilly MFW in 6 YRS is offline
Reply With Quote Report Post
The Following 10 Users Say Thank You to Tilly MFW in 6 YRS For This Useful Post: Show me >>
# 8289
gallygirl
Old 17-12-2014, 8:49 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2004
Posts: 13,619
Thanked 80,420 Times in 11,663 Posts
Default

Quote:
Originally Posted by Tilly MFW in 6 YRS View Post
Morning Karmacat, conundrum too complicated for my tired brain. If this is meant to be, it will work out
Sell them
Quote:
Originally Posted by Tilly MFW in 6 YRS View Post
Even the kids are ready for change and DD is considering which pieces of furniture she wants
Sell the kids as well .

I know the feeling about the furniture. It's like seeing the carve up when you're dead, only you get the pleasure of witnessing it .
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Interim target: 100k by Aug 13 - met Sept 13 Next: 50k by Sept 14 - met Aug 14 Final: 0 by 1/9/15, currently 24.4k 24.3k 22.6k 19.7k
"Do what others won't early in life so you can do what others can't later in life"
gallygirl is offline
Reply With Quote Report Post
The Following 12 Users Say Thank You to gallygirl For This Useful Post: Show me >>
# 8290
Tilly MFW in 6 YRS
Old 19-12-2014, 8:28 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Nov 2011
Location: On the end of a phone normally
Posts: 6,336
Thanked 68,482 Times in 6,283 Posts
Default

Morning, it's Friday

I can safely say the last few weeks have been the busiest ever and my feet have been skimming across the floor.

No more sleeps at home for a while and very much looking forward to a change of pace.

It's early payday today and the offset is looking good

54p Tilly Tidy to MOs
2 YG surveys completed
Free night out yesterday

I am having a good old sort out of my handbag before going away - I may find money, food, lottery tickets - who knows

Mortgage payment goes out in a week or so and my bonus is paid in January - I'll do an extra payment.

All looking good and we can go away and talk about piggies, chickens, ducks, geese, cows - Mr T can then reach a compromise on a couple of pigs and some chickens

Roll on 2015 - I'm not doing a recap on 2014 but boy has it flown by.

Best wishes, Tilly x
2004 387k 29 years - MF March 2033 2011 309k 10 years - MF March 2021.
Goal: 28/08/15
House 1:value 560k, Outstanding Mort just under 128k
House 2: value Euro 400k, owned outright
Weight loss target 9/36
Tilly MFW in 6 YRS is offline
Reply With Quote Report Post
The Following 12 Users Say Thank You to Tilly MFW in 6 YRS For This Useful Post: Show me >>
# 8291
gallygirl
Old 19-12-2014, 9:15 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2004
Posts: 13,619
Thanked 80,420 Times in 11,663 Posts
Default

Quote:
Originally Posted by Tilly MFW in 6 YRS View Post
I am having a good old sort out of my handbag before going away - I may find money, food, lottery tickets - who knows
Tilly the talking spoon?

Mortgage payment goes out in a week or so and my bonus is paid in January - I'll do an extra payment.
Quote:
Originally Posted by Tilly MFW in 6 YRS View Post
All looking good and we can go away and talk about piggies, chickens, ducks, geese, cows - Mr T can then reach a compromise on a couple of pigs and some chickens
That's it - pitch high and he'll think he's got away with it .
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Interim target: 100k by Aug 13 - met Sept 13 Next: 50k by Sept 14 - met Aug 14 Final: 0 by 1/9/15, currently 24.4k 24.3k 22.6k 19.7k
"Do what others won't early in life so you can do what others can't later in life"
gallygirl is offline
Reply With Quote Report Post
The Following 12 Users Say Thank You to gallygirl For This Useful Post: Show me >>
# 8292
Karmacat
Old 19-12-2014, 4:02 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Nov 2006
Posts: 20,920
Thanked 87,990 Times in 19,233 Posts
Default

Love the pitching high

Tilly, have a wonderful time! No more sleeps at home fantastic!
Your destiny does not care about your past: live in abundance
Pension shortfall goal to make up: 60,000 gross, 48,000 net.
2825 achieved plus 71 vouchers
5.88% of the net and counting
Karmacat is offline
Reply With Quote Report Post
The Following 7 Users Say Thank You to Karmacat For This Useful Post: Show me >>
# 8293
greent
Old Yesterday, 6:20 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2008
Location: Glorious Gloucestershire
Posts: 3,474
Thanked 31,663 Times in 3,402 Posts
Default

Love the pitching high


Have a fabulous Christmas away with your family - hope it is restful and peaceful and all that you want


xx
Looking to repay mtge by 12/15 (originally 11/25) Balance 01/09 124616 01/10 104927 01/11 89873 01/12 76317 01/13 52546 01/14 35356 10/14 15267
greent is offline
Reply With Quote Report Post
The Following 2 Users Say Thank You to greent For This Useful Post: Show me >>
Reply

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 1:23 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 17 December 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed

profile