How much can you save?

save-a-lot

I have never transferred between ISA's but I am sure the interest earned is transferred too.

Madiba_2

I might be wrong, but if you withdraw the money from the HSBC ISA, as long as you havnt paid in any money to it this tax year, cant you then use it to open a nsandi ISA for this year?

Regarding the nsandi being the best rate, I say this with the anticipation that the base rate will rise again the new year as it is variable.

Plus, I like the thought that the money is 100% safe, as I plan to have 12000 in nsandi ISAs by end of April 2007

JAMIEDODGER

bump.....


just wanted to hear everyones plans for saving in the new year.....im nosey:) plus it inspires me lol

my overdraft currently stands at 960.00. i am planning on hitting this with 500 quid in january:D

then 460 in feb to clear it:T

can anyone recommend a good place to put the money i am planning to save to clear the loan as i can only settle in full as there is no option to make overpayments? i am expecting it will take me another 6-8 months to save the money to clear the loan....any suggestions? i have just opened a HIsave account, would this be a good place to put it?

and....can anyone tell me if the hisaves interest is paid monthly or annually?


how is everyone else doing and what are your goals for the first quarter of 2007?

JD

Wanno

Well my plans have changed completely and its not even New Years yet!

I'll tell you the story.
My father renovates listed properties and purchased two little cottages in a three cottage terrace. The third was tattily refurbished in the 70s and is pretty awful- sticks out like an injured thumb.

Well, the people in the third cottage want to sell. My father would like me to buy the little third cottage so that he can make all cottages the same frontage and generally just improve the look of the whole terrace, thereby making the most profit on the other two.

Now I have to go and get a mortgage to put something towards it, and he will make up the rest rather than him taking out another loan to finance it all.

Thats the shortened version- but it now means that I will have a share in a fabulous little cottage that I wouldn't have had a chance of getting otherwise. I haven't really worked out how I will own the whole property as father is doing it up and making up the short fall in the purchase price from my mortgage. Theres no chance my parents will just give it to me or help with deposit etc. But it really is a opportunity not to waste.

Scary thing was that I was thinking this might be in about 4 months time or similar and he then he said no- immediately. Looks like I might (if all goes to plan blah blah) have a bit of a house sooner than I thought!

Wanno

Ooo also you may remeber that I couldn't find a piggy bank- I very happil;y recievd one this Christmas. A huge big copper coloured one!
Father Christamas must be a member of this thread!

Must change my signature to represent new circumstances

JAMIEDODGER

sounds likea great opportunity wanno!!!!! keep us informed.....

anyone else want to share their new years plans????

JD

chelseablue

Hi All

In December saved £1,300, so not as good as last month! But I did have to buy my family some presents!

My savings goal is still the same - for me and OH to have a house

Wanno: Thats an exciting development! Keep us posted

Id like to wish everyone a Happy New Year and whatever your saving for in 2007 - keep going and good luck!

xx

chriss1979

chelseablue wrote:

Hi All

In December saved £1,300, so not as good as last month! But I did have to buy my family some presents!

My savings goal is still the same - for me and OH to have a house

Wanno: Thats an exciting development! Keep us posted

Id like to wish everyone a Happy New Year and whatever your saving for in 2007 - keep going and good luck!

xx

Wow thats some going! Well done :money:

JAMIEDODGER

thats terrific chelseablue!! how do you manage to save so much?

jamesd

For the last six months I've averaged saving 63% of my net income. Was a bit lower for the year before that.

The why comes in what I did a week ago: offered to buy two flats, one at 90% LTV, the other at 85% LTV, costing about 21000 for the deposits. No reply on the offer, partly due to holidays as well as it undoubtedly being lower than hoped for.

30% plus pension is my longer-term minimum intent.