Lynn's MFW Diary

Lynn11

We got the factors bill in a few weeks ago, so went to pay the other day. Hubbie has wrote them a letter re this as they replaced a playarea and at the time he obtained a better quote for playarea equipment. Waiting to hear what they say.

Been looking at our ISA's rates which are not great, so hubbie is in the process of opening up a ISA at RBS (not bad rate, but you cannot transfer money in).

I spoke to our mortgage lender about the different fixed deals they have on offer and she went over these in the phone. Ok and I think we will stay with them but our finance guy is coming to see us on tuesday night to go mortgage and ISA's - we will see what we are advised.

Going food shopping tonight so I think the £200 budget for groceries & everything is not reasonable as the cupboards are bare.

Hopefully will sort out the house and contents isnurance next week.

I lost 1 1/4 lbs this week, which is great news for me.

It will be another big CC bill in April again due to the paying the heating repair on this - I hope we go back to normal CC bills soon.

Lynn11

Yesterday was a busy day as we had lots of visitors as it is DD's 2nd birthday tomorrow and then our financial advisor was seeing us at night.

He went through our mortgage, best option to go on SVR at june and overpay the extra £110 for a few months. Keeping a close eye on the world and the interest rate and then quickly phone nationwide to go onto another fixed deal when things start to move upwards again - thats the plan at the moment. I was going to reduce the term of our mortgage when we go onto the next fixed deal but advised not to as we should overpay the difference since I want (and hope we can) move in 2-2.5yrs time.

Our finance guy is also looking into hubbie's pensions - to combine 5 pensions into 2 hopefully. I am looking into getting a company combined into a new company pension at the moment.

Spoke about my endowment I have which is now classed as a savings plan - it is more economical to continue with this due to recent bonuses (they must want to keep our money) and it should make the money mentioned at the start - fingers crossed. It still has 17yrs to run.

Finance guy is looking into savings for us, I have done a bit of work on this but we want to have access to our money (if anything re jobs happen) and there are not much out there - if you want a reasonable rate you have to lock your money away - no access. We will see what happens and if he comes back with anything interesting.

We sorted our house/content insurance - we are just paying this monthly this year as there is too much going to go on the credit card and would need to dip into savings again. Anyway it is only an extra £10 for the monthly payments and then we pay in 1 off payment next year. This year we have changed from monthly payments for hubbie and my car insurance - so it is a start.

Need to go to buy a cake for DD nursery and we are making a cake for the granparents visiting. Hopefully DD will have a good day. Bye for now

evab_2

Sounds like you are making great plans, we're seeing a mortgage adviser tomorrow as our fixed rate ends in July but will wait until April to change mortgage as we have costs tied in. It will be interesting to see what she says though.

SmlSave

Sounds like you're all sorted Lynn - keep up the good work!

Lynn11

Spoke to our mortgage lender and managed to change the date when we pay our mortgage to the beginning of the month so we will not run out of money before the mortgage is paid. This will begin on 5th May, so have to make a manual payment for April, which I hope to do with a small overpayment on wednesday.

StuartGMC

Lynn
All good positive steps you are taking.

RosieTiger

Lynn11 wrote: »

Spoke to our mortgage lender and managed to change the date when we pay our mortgage to the beginning of the month so we will not run out of money before the mortgage is paid. This will begin on 5th May, so have to make a manual payment for April, which I hope to do with a small overpayment on wednesday.

We did this too and also make our OP at the beginning of the month, that way it's paid like a regular bill rather than "let's see what we have over later in the month" !

Lynn11

Been reviewing the monthly finances and I think we will have to just overpay the mortgage by £250 (which is reduced from previous year) but we have to live. Hopefully my sealed tin will be able to boast up the overpayments at the end of the year as I would still like to get to as near as target of £4000 as we can, but it not sure if we will meet this target. Visited the local nationwide to pay £750 to them which is the monthly mortgage payment plus £267.98 as an overpayment. Got the interest marked up on our isa accounts which is not too bad (roughly about £650 between all our savings) but it will be greatly reduced for next year due to the really low rates. Hubbie is going to open a ISA with RBS at a fairly good rate this month.

Lynn11

Healthy eating went out of the window due to many chocolate eggs given to me at school, so me and hubbie have been eating these - only 1 left. Daughter is slowly going through her eggs. We had a great easter and visited many parks with kids zoos, so DD was happy and it was free. On Tuesday we went out of lunch and then to amaziona which is a centre of spiders, butterflies, snakes etc - DD loved it apart from the butterflies. It was a good day out.

Waiting to hear if RBS ISA account is set up and then we can take out the allocated money from an existing very low paid ISA into it.

I have a finance meeting with my local bank on saturday - see what he says and if they have any better savings accounts than the one we have.

Lynn11

Visited the finance guy at my bank and he was unable to help me as I want instant access to our money therefore not too great interest rates and as I am already paying into a ISA.

Visited nationwide today and made another small overpayment of £52.02 which makes the total amount for April to be £320.

Only one more month on our fixed deal and then hopefully we can go on the variable for a 2/3 months and try to pay off more of the mortgage with less interest before going onto another fixed deal. That's the plan and hopefully it works out before the interest rates start rising.