Our savings and investments journey

MoneyQueen

Have had a good start. Applied for a Lloyds TSB Monthly saver at 5% for me. DH can't be bothered tonight so he will do it tomorrow.

Following are few things that I think I am going to start with

1. Look into investments - possibly start with S&S ISA. Will prefer to start with a low risk option (if one exists)
2. Go back to MB. Was doing okay with it last year but then lost interest and other things took priority.
3. Not sure what else at the moment

MQ

rictus123

I can only imagine what its like to get a bank statement and it comes up with something like £42,645.01. That would be amazing! Less than 3 years away for me! Have you considered a second property?

Lokolo

sunil1234 wrote: »

nah, cant inclue the house you live in as an "asset" as it doesnt earn you an income as you have to live in it yourself.;)

An asset doesn't have to earn income, just has to be owned and has value. So it is an asset in technical terms

And wow OP, thats a lot of accounts.

MoneyQueen

rictus123,

Thats not £42000 in one account. I and DH both have 3 Lloyds Vantage accounts each with each account having £7000

MQ

snowqueen555

Have you factored in this most expensive thing you will ever have...

Kids?

MoneyQueen

snowqueen555,

We would want to have a baby at some point so there would be a change in plans at that time just not sure how much it would affect the grand scheme of things but we will see when we reach there

MQ

MoneyQueen

Lokolo wrote: »

And wow OP, thats a lot of accounts.

Yes and if I didn't have spreadsheets, it would have been difficult to manage them :money:

jamesd

sunil1234 wrote: »

nah, cant inclue the house you live in as an "asset" as it doesnt earn you an income as you have to live in it yourself.;)

It saves you paying rent, so it's delivering a return equal to the difference between mortgage interest cost and rental price of the same property. Plus or minus any change in capital value over time.

sunil1234

sunil1234 wrote: »

nah, cant inclue the house you live in as an "asset" as it doesnt earn you an income as you have to live in it yourself.;)

i think we could debate this all day but i wouldnt personally infer an asset from opportunity cost:p

sunil1234

Lokolo wrote: »

An asset doesn't have to earn income, just has to be owned and has value. So it is an asset in technical terms

And wow OP, thats a lot of accounts.

i would say an asset has to be working for you, in accounting terms thus its NOT an aseet if you live in it and hence dont earn a return from it.;)