Help Me....

wb123

Ok, I know it's only a small part of the overall picture for you, but on the sharesave issue;

1. I would expect the payment to be after tax, i.e. from your take-home. Normally sharesave benefits are tax-free interest/profit, a discounted option price, and possibly a bonus interest payment if you stick it out. The payments in would not normally be tax-free.

2. There's no risk here - if the shares are lower than the option price you just take your savings back.

In your situation would base a decision on whether to continue in this scheme on;

The maturity date
The option price
The current share price

But you would need to be looking at an imminent & significant to counter-balance the interest you are paying elsewhere.

Really hope this helps, and great to see you're getting stuck in to reducing those debts!

wb123

Of course, this is all subject to checking the terms/conditions of your particular sharesave scheme!

redpete

wb123 wrote: »

Ok, I know it's only a small part of the overall picture for you, but on the sharesave issue;

1. I would expect the payment to be after tax, i.e. from your take-home. Normally sharesave benefits are tax-free interest/profit, a discounted option price, and possibly a bonus interest payment if you stick it out. The payments in would not normally be tax-free.

There are various kinds - e.g. the one I'm in now you purchase the shares each month at the full price from your before-tax salary and you are given additional free ones. With a previous scheme I purchased shares outright but at a discount. Both these schemes were paid for before tax. Both schemes also have lock-in periods, another risk if you unexpectedly need access to cash. A third scheme I was in had the money put into a savings account with the option to buy shares later at a discounted price, I'm fairly sure the money from my salary for this one was also paid before tax.

wb123 wrote: »

2. There's no risk here - if the shares are lower than the option price you just take your savings back.

Only if it's the same scheme you described. Two of the schemes I have been in certainly did entail a risk. (As one was when I worked for Marconi the loss was total on shares that I had not sold bar a few pence). An additional risk on schemes with a lock-in period is what happens if you leave your job before the period is up? You might lose bonus benefits and you might lose the tax advantages - depending on the details of the scheme.

wb123 wrote: »

In your situation would base a decision on whether to continue in this scheme on;

The maturity date
The option price
The current share price

But you would need to be looking at an imminent & significant to counter-balance the interest you are paying elsewhere.

Plus, even for the sort of scheme you described: can you afford to save on the possibility of a return rather than pay off a debt with the certainty of interest charges.

dal2008

hi all

i've just got up my capital one card so I no longer have the temptation.

I send an email to HR asking for them to cancel my share option.

I have phoned fscs about Picture adding 5k to the loan but as of yet no one has phoned me back.

This week I plan to go through what I can sell. Anyone looking for anything...

Head-Out-Of-Sand

Well done!! I hope you got as much pleasure out of it as I did in tearing my monument card into teeny tiny little scraps!!

dal2008

I am keen to get some extra money by signing up for all these research sites. Any ideas on which ones pay most and get you most surveys? I'm also keen to be a mystery shopper on a sunday or lunch time in the city

Head-Out-Of-Sand

I do mystery shopping with www.grassrootsmysteryshopping.com, I'm sure other will post theirs on too