LP's 2009 masterplan

boredofbeingathome

LilacPixie wrote: »

The oenalty is something silly like £5 admin charge for every OP which could soon mount up if we overpay 2-3 times a month which may be possible. Ideally i was looking at making a fixed OP plus then adding an additional OP of any cash left at end of month plus quidco/scratchcard/mystery shopping money.

Mortgage I can only OP by £500 a month penalty free so I don't even have the option of putting OP to mortgage.

It certainly would mount up. Better to OP in one lump sum, at least it will only cost you £5 then.

I know that Karmacat has an account specifically set up to overpay using MSE money from mystery shops, scratch cards etc. When it gets to a certain amount off it goes.

It may also be worth finding out about the interest structure on the loan. If it is front loaded, then i would definately wait, if it is accounted for yearly, then perhaps time it for then.

chevalier

You might want to run the scenarios through the snowball calculator at www.whatsthecost.com, and see which one saves you the most interest
chev

LilacPixie

Thanks BOB and Chev.

BOB - interest is accruing daily according to the statement we get yearly. By my rough calcs an OP of £500 should just be enough to offset the interest saved in one month against the 'admin fee' for processing the OP. Obviously for each month there after we would be paying less interest.

Chev - I have multiple snowballs and it looks like clearing the GE loan will save the most interest but I can't work out how to make it consider the admin charges for OP.

LilacPixie

silly little things amuse me.

Did my shopping today, £43.09 and that is enough for the whole week including OH packed lunches and a few treats.

debrag

LilacPixie wrote: »

I am pathetic at keeping this thing updated. Well i still have not put petrol in my car :):) So proud or myself. I would imagine I will have to fill her at the weekend tho as I am sitting between the quarter and the empty.

OH got his first monthly payslip. £1220 which is around what we expected, Our energy supplier is putting the direct debt up to £94 amonth for our utilities based on increased usage. increased usage of tumble dryer i'm afraid. It isn't practical to peg out while living in a flat, in winter, with 2 under 3. :rolleyes:

Since OH started his current job he has been on the tax code 603 w1 which apparently doesn't take into consideration the fact he didn't earn for several weeks in mid 2008 as he has a few weeks off for the end of pregnancy, birth, aftermath nor the £60 adjusment we all received in september. aparently he should be due a small rebate If thats true then its all going on the MBNA card.

at what age do your kids come out of nappies?

LilacPixie

around 2-3 years of age. My oldest is 2.5 and isdry during day mostly but not at night yet.

LilacPixie

I am such an idiot.

As mos of you know I actually put my insurances money from my SOA into another account so I can pay them outright. Well I havent been keeping an eye on the balance and i had forgotten my log in details so i had to get them reset.

ANyway I got the new details on saturday and logged in. Someone called 'policy admin servs' have been taking £9.99 a month since early 2007 :eek: :eek: :eek: :eek:

I called them they cannot trace me.. bank says oh well probably and error so we have cancelled the DD but write in and we might refund up to 3 payments. Policy admin servs just say contact the bank and meanwhile i'm £200+ out of pocket and will no doubt be a bit short of cash for my B&C renewal in June. :mad: :mad: :mad:

why oh why did i not keep a better eye on it??

LilacPixie

Oh well, I have wakened up in a slightly more positive mood. I called bank again and they say put it in writting and we will investigate. so thats all i can really do.

I will now obsesivly check accounts weekly.

babyhead

Hi LilacPixie

Just a thought - I think "Policy Admin servs" might be mobile phone insurance?? Sounds familiar to me and I think that is what they do. Have you got a contract phone?

Keep up the good work though!!

LilacPixie

Hi Baby head.

That is exactly who it is but my husband has the mobile phone contracts. I did call them and they cannot trace a policy belonging to him or me so are blaming my bank. My surname is very very common and my account is jusyt initial surname. I am going to go loopy