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  • FIRST POST
    • Busy Mee1
    • By Busy Mee1 1st Apr 16, 9:34 AM
    • 241Posts
    • 743Thanks
    Busy Mee1
    Getting a Grip and Saving towards the mortgage
    • #1
    • 1st Apr 16, 9:34 AM
    Getting a Grip and Saving towards the mortgage 1st Apr 16 at 9:34 AM
    It is nearly a year since I last posted - due to a combination of work and losing my log in details However I am back with my sleeves rolled up bcause the new Personal Savings Allowance means I can start getting my hands on some of the lovely bank accounts that are now on offer without having to pay the taxman.
    So a potted history of me and mine - we are me, OH, DS (25) and DD (23) who since I last wrote has moved in with her boyfriend but I am still financially supporting as she is in her last year at university. Son is financially independent, still living at home but looking to buy his own place shortly.
    We have a large mortgage because we built out own house 7 years ago. We do however have a great mortgage deal - a lifetime tracker of 0.69% so instead of overpaying the mortgage I put any spare cash into higher paying ISAs and have until now been looking longingly at some of the higher rate current accounts - we are both higher rate tax payers so have been pointless using anything but ISAs until now.
    The numbers:
    Mortgage debt: Jan 15 £288778.23. March15 £286,217.61. Jan 16 £277958.44
    March 16 £275,920.98

    Savings: Jan 15 £22080.81 March 15 £25,790.53 Jan 16 £34,361.10 March 16 £36966.91

    So as you can see although I haven't been posting I have kept up the saving, averaging £1000 per month.
    I also set myself a goal of losing a stone and I have lost a stone and a half
    I think setting goals in writing on here really worked for me and so I am back
    Last edited by Busy Mee1; 01-04-2016 at 10:31 AM.
Page 12
    • Busy Mee1
    • By Busy Mee1 19th Mar 17, 7:16 AM
    • 241 Posts
    • 743 Thanks
    Busy Mee1
    Sunday
    Hi Try Harder - I don't feel like I have loads of energy most of the time, and I have quite a lot of help from Mr Mee. Because we do similar jobs we have always shared the housework etc and I am pretty organised. My kids hoot with laughter when I talk about retiring because they think I will be bored ........I won't ...I will just be doing the things I want to do.

    We had a fabulous weekend away last weekend, some great company and lots of laughs. The weather was superb and we did lots of walking - it definitely feels more like spring now. We spent a bit more money than we would have liked, but I used cash rather than card and will just try and adjust spending for the rest of the month to make up for it.

    In other financial news, two of our regular savers matured this week from M&S and TSB earning £96.82 and £80.21 in interest. We have another three to mature over the next couple of weeks from TSB and Santander. I am now setting up accounts for next year to maximise the PSA and also (deep joy ) a new spreadsheet
    The plan for 2017/18 is as follows:
    4 x T@sco accounts = 4 x £3k = £12k @ 3%= £360 interest
    2x N@tionwide = 2x £2500= £5k @ 5% =£250 interest
    2x N@tionwide regular savers = 2 x £500 per month @ 5 %= £325
    Total interest for 2017/18 is £935. I am also going to use my Santander as my odds and sods account so will keep an eye on the interest earned there to make sure we don't exceed the £500 each PSA.
    I am also going to start another regular saver with M&S starting in May so that the interest payment falls into the following tax year (2018/19).
    This means that my TSB accounts are redundant - so I will probably shift some DDs to those so that they can be switched
    • Busy Mee1
    • By Busy Mee1 19th Mar 17, 7:32 AM
    • 241 Posts
    • 743 Thanks
    Busy Mee1
    I got rudely interrupted while writing my post and I didn't want to lose it so I will carry on where I left off.
    I need to find a tax free home for the rest of my savings so I have been looking at S&S ISAs. I am trying to do a bit of research but feel a bit nervous because we have never invested before. I am tempted to use one of the managed S&S ISAs like Moneyfarm but I know this will cost more than doing it myself and surely this is not beyond my capability. I would welcome any advice from anyone who has dipped their toe into this world.
    In the meantime the money can sit in the offset account for my mortgage which effectively gives us 0.90% interest.

    On the home front DS is abroad this week and DD has practically moved back in with NB, so it just looks like the two of us this week. I will need to try and remember how to cook for just two. It should help with the food budget though.
    DD and NB are coming for roast dinner today so I will probably do something with the leftover chicken for tomorrow night as I am in London all day.
    I think that is all - have a great week
    • Busy Mee1
    • By Busy Mee1 20th Mar 17, 7:40 AM
    • 241 Posts
    • 743 Thanks
    Busy Mee1
    Monday
    I am on the train to London and thought ai might as well take advantage of the free WiFi to update my grocery spends, £192.83 /£250. I went over budget and spent £68.78 - I didn't do a list this week and it shows I think. Will need to be more careful next week
    I did however find 2p which I added to the change pot, along with 50p found in the seal of the washing machine - all road kill and washing machine flotsam fnds its way into my change pot..

    Yesterday I made Fortunes's bacon,leek and poato soup and it was a good job I did as DD and NB turned up starving after a long walk so they each had a bowlful with garlic bread and the rest is portioned up for lunches this week. I also made another batch of hob nobs, however I seem incapable of replicating this recipe - each batch turns out different on the last. It doesn't seem to matter though as they still get eaten
    DD and NB stayed for Sunday dinner and I used up some salted caramel puddings left from Christmas - we only have one box of chocolate biscuits left from Christmas now and then it is all gone ! I think Mr Mee will take those to work.
    I boiled up the chicken carcass for stock and used the leftover chicken to make a casserole for tonight and probably tomorrow nights dinner.

    I am steeling myself for a foul day at work today - I came back from the long weekend last Wednesday feeling all refreshed and walked into a horrid situation at work. I keep having to counsel myself and just try to keep behaving appropriately when all around me seem incapable of doing so. I definately need to get myself away from this role and have feelers out with a few contacts. Hopefully today may not be as bad as I think....

    Have a great Monday
    • Fortune Smiles
    • By Fortune Smiles 20th Mar 17, 7:46 AM
    • 2,275 Posts
    • 18,193 Thanks
    Fortune Smiles
    Hope the day goes well.

    Fortune x
    Moving Costs: 73% Mortgage: 25% remaining House Deposit Contribution: 56%

    "It is possible to move mountains by carrying small stones."
    • themadvix
    • By themadvix 20th Mar 17, 11:57 AM
    • 622 Posts
    • 2,338 Thanks
    themadvix
    Hey BusyMee, some great interest figures there! Regarding S&S ISAs, I'd have a read of Ed's thread (Only Freedom Will Do) - I'd never dipped my toe into investing, but he knows a lot about it and there's a lot of chat on his thread, as well as a link to a TV programme on YouTube all about funds. It was really very interesting and illuminating. I now have an S&S ISA with Charles Stanley Direct invested in Vanguard trackers.

    Hope that helps and I hope work isn't too awful today. Fingers crossed re the feelers!
    OPs 2017 = £1300/£10000
    S&S ISA = £100/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance Feb 2017: £103, 019.99
    MFW2017 no. 38
    • try harder
    • By try harder 20th Mar 17, 12:38 PM
    • 298 Posts
    • 813 Thanks
    try harder
    Glad to hear that you had a lovely weekend away but sorry to hear about the work situation.I hope it turned out to be a better day than you expected .
    • Busy Mee1
    • By Busy Mee1 26th Mar 17, 7:00 AM
    • 241 Posts
    • 743 Thanks
    Busy Mee1
    Spring is here !
    Thanks everyone for popping in, and thank you for suggesting Ed's thread for investment advice Mad Vix- I am currently working my way through his thread.
    So the clocks changed and the weather looks set to be beautiful again - a bit of sunshine makes you feel so much better. It was absolutely glorious yesterday and I spent the afternoon in the garden sorting my pots out and doing some general tidying up. I might treat myself to some pots of miniature daffodils today to fill out the pots ( they were 3 pots for £1 last week in H@me Bargains) I hope there are some left this week.
    The week at work turned out to be much better than expected but we were all quite shocked by the events in Westminster as our office is close by. It was such a dreadful thing to happen and awful for the families who lost loved ones.
    In MF news, another regular saver matured (TSB) and another £80.21 in interest banked. All the paperwork for my N@tionwide has arrived, the online banking set up and £2500 deposited. I recommended Mr Mee as a friend and "he" applied to switch his TSB account ( after I hurriedly remembered to swop 2 DD over to it ) Hopely that should gain us £200 in switching bonus (£100 each). I found out the that I am not owed as much from British Gas as I thought, if anything - the first bill showing a £600 credit, didn't take into account the electricity so now I am down to a £300 credit and that is only estimated. Mr Mee sent of the final readings to the new provider and can't remember what they were, so we now have to wait for them to let BG know... Grrr I must have had 4 different bills from BG and all very confusing.
    It looks like it is going to be another beautiful day, we are going shopping and then will visit MIL for Mothers Day. I hope to get in the garden too.
    Hope everyone has a lovely day
    • Busy Mee1
    • By Busy Mee1 26th Mar 17, 10:07 AM
    • 241 Posts
    • 743 Thanks
    Busy Mee1
    Quick update on grocery spends - £64.47 spent, so total for March is £257.30 and an average of £64.32 per week. I have slightly exceeded the £250 budget by £7.30 but I think I can live with that : )
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