Mortgage free!?!?

SAMMYE_2

Hi Guys

Thinking about doing a bit of stoozing.. I am being pretty careful at the moment but dont spend alot. I've never had a credit card before so I'm pretty clueless I'm afraid.

I was thinking how I could make stoozing work for me and I thinking about it I could probably pay a few things by credit card.

The main things I think I might be able to stooze on are:

* a maintenance charge to the flat I own which is about £300 a month at the moment as I am paying for major works as well which was double glazing
*General day to day things like food / going out etc etc
*Car Insurance

What do you think guys? Sorry if this seems like a stupid question but I am very clueless about credit cards and stoozing although I have read up a bit still find it a bit confusing so thought it best to ask the experts! (you guys )

Does anyone else stooze or understand it enough it to give me some tips?

Cheers
Sam

Engeroosi

As long as you are disciplined with credit card spending, and make sure you put the money aside into higher savings account for when the interest free period runs out then you are ok, but if you miss the end of the 0% interest rate ending then it can undo all the stoozing.

SAMMYE_2

Engeroosi wrote: »

As long as you are disciplined with credit card spending, and make sure you put the money aside into higher savings account for when the interest free period runs out then you are ok, but if you miss the end of the 0% interest rate ending then it can undo all the stoozing.

Oh no I am very disciplined about this type of thing now.

Thanks a lot Engeroosi

SAMMYE_2

Mainly I was wondering if there would be any charges for paying with a credit card for the things like my Mortgage or maintenance charges?

Oh and also how does making sure you pay off the correct amount each month so you dotn get charged work? Do you just ring up and ask to pay the minimum amount you have to each month in order that you dont get charged!? Really confused how it all works... :-s

Cheers

Engeroosi

You can set up minimum payment direct debits, so all you have to do is keep an eye on the 0% interest period ending.

As with paying the mortgage with the credit card, I think that is classed as cash advance and incurs a charge. I usually just use the CC for shopping, petrol, and purchasing any stuff in shops or restaurants. And any bills i use direct debits.

SAMMYE_2

Engeroosi wrote: »

You can set up minimum payment direct debits, so all you have to do is keep an eye on the 0% interest period ending.

As with paying the mortgage with the credit card, I think that is classed as cash advance and incurs a charge. I usually just use the CC for shopping, petrol, and purchasing any stuff in shops or restaurants. And any bills i use direct debits.

Oh ok cheers.

Do you think thats the same for bills like the maintenance charge I have for my flat? How would I find out?

SAMMYE_2

I've got about £2k I can overpay but I'm holding back a bit making sure I have plenty of money in case my tenants dont come up with the rent....

I also realised that my whole life was concentrated on saving as much as I could in the next two years and I somewhat forgot about the here and now and short term goals. As a result I lost sight on other parts of my life in particular short term goals and enjoying myself.

I have joined a Martial Arts gym up town now near where I work now and although its quite a lot of money £90 a month I hope to be able to improve my level massively by training most days if I can.

But it is a learning experience and taught me not to get too caught up in the future.

SAMMYE_2

OVERPAID £2,000 just a few minutes ago! YES!!:j It feels sooo good! Getting there slowly!

Held off making any overpayments as wanted to make sure I had enough money behind me (just in case).

Got another £3k I can overpay this year before I can really get ahead of myself savings wise.

Bank of Ireland also asked if they could give my number to London and Country some mortgage brokers!? Seemed strange but apparently they are trying to offload some of their UK mortgage book...

originalmiscellany

Well done Sammye! Oddly enough, I enjoy it when they have to send me a letter telling me what my mortgage is for the next month... Really enouraging seeing it drop by a few pounds a month Here's hoping for no interest change today. Well done again!

SAMMYE_2

originalmiscellany wrote: »

Well done Sammye! Oddly enough, I enjoy it when they have to send me a letter telling me what my mortgage is for the next month... Really enouraging seeing it drop by a few pounds a month Here's hoping for no interest change today. Well done again!

Thenks

I like that too. Now that I have overpaid they will send me a letter telling me what my new monthly amount is!

Fingers crossed for no change in the mortgage rate.. Doesnt effect me as mine is fixed sky high at the moment anyway! but I hope it stays low for you.