Live on £4000 for a year - part 4 (Oct - Dec 2008)

andromache_2

Hi all :cool:

Boo to the rate cut - the interest rates on all my savings will be dropping again! At least I don't have very much :rotfl:. I hope that the cut helps overall though and particularly those struggling with debt. Fingers crossed that it works out for your situation, cw18. Can you not look into fixed-rate ISAs, bails?

I just walked into Boots for some ibuprofen for my headache (yes, headache, not hangover, though it feels like one), costing 37p, and walked out £28.10 lighter. Oh dear... if I'm ever going to manage this challenge, I need to curb those spending urges... At least I'm well stocked up on make-up now since I got some good No7 bargains soo will just have to ban myself from that category for the rest of the year!! Also had to get a new bike lock today as the last one broke :rolleyes: so this week will be over-budget again, but hey-ho, onwards and upwards

taka

cw18 wrote: »

They only passed on 0.3% of the 0.5% cut last month, so I'll also be watching them with eagle eyes this time. But in our case it's because if they don't pass on the full rate we have to find more of the payment after IS Mortgage Assistance

(We've been on variable with them right from the outset in May 2002)

:eek: Thats crappy cw18... I take it the mortgage assistance is BoE base rate linked? Thats a bit worrying as presumably people who qualify for mortgage assistance are in need of help for whatever reason (like caring for your OH) and are going to have less leeway in the budget for such changes to outgoings!

Ohhhh just checked the Nationwide website (the media bit). It states it is going to pass the 1.5% to existing tracker mortgage customers so presumably that means they might do so for SVR customers too. I think they are still thinking about this though...

Don't like the sound of the "Existing tracker deals will continue to track the Base Rate for as long as it remains on or above 2.75%." bit though. That sounds like if BoE rate drops much more it won't follow it...

linky... http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1292 (sorry don't know how to neat links... )

thriftylass

nykmedia wrote: »

.... I have just been shocked to find out that my current ISA interest rate (why, oh why do I never read the updates?!!!) has dropped to 4.6%! :eek: That's only 5.75% before tax....

I just checked, my ISA rate dropped to 3.95% used to be 4.45%. Only half a percent but still. But I think there's no point shopping around much since everything is going down, as long as it helps the economy. I guess now even more so I have to tell me I'm not saving for the interest but for the sake of not spending the money and putting it away (although I'm now, as I just realised, loosing money as the inflation is higher than the interest) :mad:

[STRIKE]Does anyone think it makes sense to transfer the ISA now since some banks still offer a bonus in the first year for new customers which is usually and additional 1.5%? Is there a way to find out which banks belong together? For instance I know I can't transfer to NatWest because they are together with RBS.[/STRIKE]

Actually just watched the news. Inflations is supposed to come down with the economy shrinking, maybe I just ride it out and wait for everything to normalise. Don't want to play around now and realise I made a mistake. Plus I remembered we'll get the 5% payrise next month that was agreed before all this strarted, so that makes up for it.

purplevamp

Well the firework party went really well. We managed to get 12 rockets in Sainsburys for £10 (bogof). The children enjoyed themselves (which is the main thing) and there was food there. I think I had about 5 cupcakes :whistle:.

My Mum went into hospital last night for an operation this morning, she has neuralgia (sp?) and the pain was getting unbearable. Everything went well and we should be able to vist her in a day or two when she's out of the ICU.

nykmedia wrote: »

I just realised that we are now within the final 8 weeks of the challenge! :eek:

Ooh, that means us newbies haven't got long to go either!!

I've just found a bag of sugar free Alpen that hubby won't eat as he only likes the sugary one :rolleyes: . So I'm going to have to make some muesli flapjacks, oh what a shame!!:rotfl:

thriftylass

purplevamp wrote: »

....

My Mum went into hospital last night for an operation this morning, she has neuralgia (sp?) and the pain was getting unbearable. :whistle: Everything went well and we should be able to vist her in a day or two when she's out of the ICU.

Good luck to your mum, I hope all goes well and she'll revover quickly.

the_cat

thriftylass wrote: »

Ias long as it helps the economy.

I don't think in the med/long term it will help at all :mad: Gordon wants everyone to have cheaper lending so that they can go and spend the excess in the shops etc. People will still spend money they haven't got (BTW not refering to people on here, we are a very seperate and special breed:D ) and sooner or later they will run out of money/credit and either go bankrupt or have to start paying it all back. We will be back to square one.

Being cynical, I think this has been done to buy time to try to win another term in government. The problems will at best be deffered for a while.

OOPS, mega rant, sorry!!!

thriftylass

the_cat wrote: »

I don't think in the med/long term it will help at all :mad: Gordon wants everyone to have cheaper lending so that they can go and spend the excess in the shops etc. People will still spend money they haven't got (BTW not refering to people on here, we are a very seperate and special breed:D ) and sooner or later they will run out of money/credit and either go bankrupt or have to start paying it all back. We will be back to square one.

Being cynical, I think this has been done to buy time to try to win another term in government. The problems will at best be deffered for a while.

OOPS, mega rant, sorry!!!

You're totally allowed to rant . I think they should maybe make differnces between savings, loans and mortgages. Not sure what the exact solution is. I can understand that this country is a buying housing market rather (has it always been? because I don't know where this urge comes from to make it onto the property ladder, what's wrong with renting) than a renting market (hence much better value for money regarding renting) like my home country. The problem with this country is as you said borrowing you can't afford and I hate the double standards of the governement. Pretending to help but really they still want us to get into unnecessary debt. I better stop now....:o well one more

Additionally there's this endless cycle, the rate cut is also supposed to kick start chrsitmas spending. As I see that the economy needs consumers, but people again will need to spend money they don't have (well we might not since most of us are more sensible with money and will have a more frugal christmas:) ) And so on and on.....

taka

purplevamp wrote: »

My Mum went into hospital last night for an operation this morning, she has neuralgia (sp?) and the pain was getting unbearable. :whistle: Everything went well and we should be able to vist her in a day or two when she's out of the ICU.

I hope it helps, she feels better for it and makes a quick recovery!

Marru

Just a quick reply re A&L account:

Balance in transactions is your current cleared balance
Available balance is the transaction balance plus/minus pending transactions (i.e. card payments etc)
And the third balance is the cleared balance you had in the end of the previous day.

DD still up and bouncing so I will come back later for update...

Marru

slowlyfading

:hello: everyone.
Had a good day today, was at work at both jobs so i'm actually quite tired. I spent £13.78 in the Co-op, and that includes a birthday present, so i'm pleased with that Nothing else to update really, so I'm going to go and watch Silent Witness!
Hope everyone is okay xx