Stoozing - How well did you do?

Mutton_Geoff

Approx figures:

Gross interest £5,000
less Tax £1,000
less BT Fees £1,600

Stooz Profit £2,400 :rotfl:

gogsboy

What are the current best options for the 'stoozing'

We have an offset mortgage, I'm guessing we should be looking at this stoozing for out benefit or is that frowned upon?

GregH

I've made roughly £500, which has been great for me to reduce my mortgage with. :j

However, I’ve taken the decision fact I’m going to give stoozing a miss for a while. I pay higher rate tax on all of the interest I earn, the interest rates just aren't that great anymore and job security is under threat.

I wish all of you the best of luck and will let you know if the situation changes.

rodent

Very difficult to accurately quantify for me as I am not a "traditional stoozer" but some where around £100K profit from financial activities using "stooze pot" over the past 12 mths.

LongTermLurker

Haven't been on for a while and was going to post my ~£1500 - £2000 profit until I saw the rodent had been here and effectively closed the thread

justpaper

s.michaels77 wrote: »

Is this something that can be done in the states just as easily?

i believe its crazy in the states with one guy claiming hes hitting a million, its all in a blog

http://www.mydollarplan.com/

moneymouth77

I really want to get into this, but I just can't get my head around it. That being said, it's boards like this that give me new hope that I'll be able to manage it. Cheers for the positives, and the proving that this works!

LongTermLurker

moneymouth77 wrote: »

I really want to get into this, but I just can't get my head around it.

The concept is simple:

1) you borrow money (from some source - preferably legitimate :rolleyes:)

2) you put it somewhere that offers more back than you pay in charges and interest (don't take risks unless you know you can pay back the capital from elsewhere)

3) you pay close attention to every detail, understand your position and pay back what you borrowed before it's due.

How much you can gain is purely based on your available credit limit and ingenuity

Mutton_Geoff

I really want to get into this, but I just can't get my head around it

Personally I think the best days are gone but if you have a mortgage that will accept an offset or overpayments (and you can save your way into clearing the original stooz debt on maturity) then it might be worth doing.

Plenty of info at https://www.stoozing.com but be warned, you must fully understand what you are getting into before stoozing. It is very easy to come unstuck and lose the interest benefit with an accidental purchase on the card.

torontoboy45

I'm now ready to post: an unspectacular £420 acquired courtesy of the virgin 15 month deal and the kaupthing 7.01% fixed term deposit (later transferred to ing with a rate commitment). 1yr term expired on june 5.

for me, stoozing is now dead in the water until IR's pick up again - hopefully in 2010.