Canne's Aussie Mortgage Free Diary

canne_2

Thanks Gallygirl!

I have a few questions about UK specific things I don't understand.

Does everyone have to buy a TV licence? Isn't there any free TV? What is a TV licence for?

Also what is an ISA?

And what is an endowment?

I think that's all the things that I don't understand so far...I read quite a few diaries and these things keep popping up!

Queen-Bee_2

Hi Canne,
Everyone who has a TV has to buy a license - the fee funds the BBC who don't run adverts and hence don't have the commercial revenue available to independent broadcasters. You also have to have a license to watch independent TV, as to receive this, you have to have a set which also picks up BBC broadcasts. A colour TV license costs around £12 a month.

An ISA is an Individual Savings Account, which is essentially a tax free saving allowance. It can take the form of a standard savings account or can be invested in stocks and shares, or a combination of the two. The level of account depends on how old you are - I think the over 50s now have an allowance of £5,100 per year, and if you're younger than that it's £3,600 (don't take this as gospel though!!)...

As for endowments... well these can be a can of worms. Suffice to say I don't have one, but lots of people who took out mortgages in the 80s and 90s were sold them as a long term savings policy that would run alongside their mortgage and pay it off at the end of the term (ie instead of a straightforward repayment plan). Endowments involve investing in the stock market, and consequently can be adversely affected by market falls. As such, it is entirely possible that investors can be left with shortfalls at the end of their mortgage term, instead of the promised surpluses.

I'm sure that someone will have a more comprehensive definition, but off the top of my head, that's my understanding of some of the key issues,
QB

canne_2

Oh ok that makes things clearer!

I couldn't imagine paying for TV! The government funds the public broadcaster which is the ABC over here. There would be blood in the streets if individuals had to pay for the regular channels. We do have pay TV which is quite expensive...

Wow, we don't have ISA's here. Savings is taxed from the first dollar, which is why people invest in shares or property and we have a low savings rate as shares and property has much better tax advantages.

Endowments....hmmm...that seems like a gamble to me! A losing one if you have one during the global financial crisis...

Thanks for answering my questions!

setmefree2

Canne - Most Brits adore the BBC. I personally think it's worth every penny. They make very high quality drama and have great news coverage. And to have such great TV with no ads is brlliant. I find the TV channels with ads really annoying.

Anyway, really well done on those shopping savings:T:T

canne_2

Payday yesterday and I have paid $1164.60 to the mortgage. Balance is 101 614.98

Interest will be posted on the 25th of February and according to my software that will be $532.50...

canne_2

I actually have a question that the forum can help me with...

I am interested in a magazine called Quick and Easy Cross Stitch which is produced in the UK. What are the best UK magazine subscription sites? I have found it on an Aussie one but it will cost over $200 for 12 issues!

Thanks

canne

liuhut

Hiya Canne
Just about the magazine sub, it might be worth popping into your local Library to see if they have it ...or can get it for you. I work in a library in Vic and we do things like that!
One thing you could help me with maybe?? What sites in Australia do you do the surveys on to earn money??

Thanks
Laura x

canne_2

Hi Laura,

I have already checked my library - they don't have it...I can get older issues cheap on ebay but I just wanted to see if it is cheaper to get the mag direct from the uk...

I use a fair few survey sites

https://www.globaltestmarket.com (get 1000 points get $50US)
https://www.pureprofile.com (get $25 to bank account)
https://www.myopinions.com.au
https://www.rewardscentral.com.au (daily clicks and guessing game...you can transfer points from myopinions to rewardscentral...Rewardscentral...get 3300 points get a $30 direct deposit or cheque)
https://www.jumborewards.com.au (not sure of the reward program as I only recently joined)
https://www.valuedopinions.com.au (get gift vouchers for various stores including coles and woolies)
https://www.yourvoice.com.au ( get various rewards including gift vouchers)
https://www.opinionspaid.com (gift vouchers)

I have been paid from all these sites except for jumbo rewards but I know someone who has been paid from them so they are legit...

There is also https://www.productreview.com.au where you can write reviews and get a coles gift voucher once you get enough points...420 points gets you a $20 voucher and there's a 40 point sign up bonus and referral bonuses and 10 points per 100 word review

That should keep you busy for a while! LOL

Cheers

canne

chirpchirp

http://www.magsite.co.uk/store/3-issues-for-3/quick-and-easy-cross-stitch-magazine-subscription/prod_2255.html

I don't buy magazines but I found this site - is it of any use?

liuhut

wow, that certainly will keep me busy!! Thank you so much for posting them all.
Shame about the magazine and the library, I hope you get it sorted out.

Laura x