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How much can you save?
Comments
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minidannii wrote: »thing is id like a morgage. and thought its impossible to get one with less than 10 percent ?
i dont want to rent as you pay all your life
My mother always told me that its the complete opposite in other European countries and it is the norm to rent rather than buy.
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I'll defo be going for the 3.5% one for my new funds, I'll have over £20k in my ISAs from April so the extra 0.9% will be worth it!! Wish ISA rates were higher, even if they were 5% I'd be earning £1,000 in interest on my ISA alone. Why oh why do IRs have to be so low??????
My other money is spread across various savings and current a/cs to try to maximise interest. I'm currently earning around £50 (after tax) per month from those! So between that and my current ISA I'll be over £1,000 up this year. Not bad.
Have you considered the M & S 3 year fix at 4%? The penalty for withdrawal is £100, so you'll easilly make that difference up with a £20k+ sum.
So say you're 1% better off, it'll only take you 6 months to make the £100, then after that you're better off even if you have to withdraw and pay the penalty.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Finally a chance to update my savings figures, another £250 into my regular saver Quite liking that the standing order means I'm saving without really noticing, once I've done the flat buying thing I'll definitely be opening another regular saver as i think it'll be a great way to sav the £3000 I want for a lxury item.0
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Have you considered the M & S 3 year fix at 4%? The penalty for withdrawal is £100, so you'll easilly make that difference up with a £20k+ sum.
So say you're 1% better off, it'll only take you 6 months to make the £100, then after that you're better off even if you have to withdraw and pay the penalty.
That sounds pretty good, thanks for the tip off! :T I'll look into it. Is it an ISA?Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
eBay sales - £4,559.89 Cashback - £2,309.730 -
minidannii wrote: »thing is id like a morgage. and thought its impossible to get one with less than 10 percent ?
i dont want to rent as you pay all your life
As long as you don't overstretch yourself, do your research with regards to rent, bills etc, you should still be able to afford to save for a deposit. And with your extra freedom, who knows you may have someone to buy with in a couple of years time.
Or, have you considered becoming a lodger? This may be a cheaper way of doing it, though it could of course be awkward moving into someone's home.
We only get the one life. Happiness needs to be a priority.Target Cash Net Worth: £25K by January 2012
Progress May-08 19.0%; May-09 40.0%; May-10 63.0%; May-11 58.4%; Jun-11 58.5%; Jul-11 58.9%; Aug-11 58.7%; Sep-11 59.0%
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really stupid question about ISAs, but you can only put money into one at a time right? I had one with halifax, but then moved it to the progressive, but now the progressive is cack and i think halifax is higher-can i just start putting money into the halifax one in the new tax year, or will it have closed now i have another ISA? I'm really confused about how that all works...Mortgage free wannabe #124
Mortgage due to be cleared January 2036 / goal is 4/5/26 (40th birthday)
Starting balance £117000 November 2010
Balance as of 5/4/21(date decided I wanted to become mortgage free) £89426.62 / current balance £82000
Daily interest at January 2021 £4.76
Current daily interest £4.390 -
If you transferred the money out of Halifax into Progressive - i.e. you asked Progressive to do the transfer, your Halifax ISA should be closed anyway (unless you didn't transfer the entire balance). If you withdrew the money and paid it to the Progressive, it could still be open with a zero balance. Just to stress - you should never just withdraw the funds.
In the new tax year you will be free to open a new ISA to pay 2010/11 funds into. You are also free to transfer previous year's ISA (e.g. your Progressive account) to a new ISA, which may or may not be the same one that you will pay the current year's subscription in.
The ISA rules are stupidly complicated in my opinion. There's got to be an easier way of giving us tax free savings.Target Cash Net Worth: £25K by January 2012
Progress May-08 19.0%; May-09 40.0%; May-10 63.0%; May-11 58.4%; Jun-11 58.5%; Jul-11 58.9%; Aug-11 58.7%; Sep-11 59.0%
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I just had a light bulb moment - but about my health, not money. It's just been discovered that there's a condition running in my family that causes sky high cholesterol, and would increase the chance of having a heart attack by the time I'm 50 to 65%. I'm 23, of 'normal' height and weight, and I eat 'normally'. I don't get much exercise, apart from shopping, but other than that I should be fairly healthy.
I haven't had a blood test yet to see if I've got it, but I've scared myself anyway, so I'm adding a diet to my money saving goals. I need some cheap, healthy packed lunch ideas. I'm aiming to get my BMI down from 24 to 21, which means losing a stone :O I'm aiming to do this by the end of June, and without spending over my food budget. Which means I need to get my parents to buy me lots of stuff for packed lunches, and I need to avoid Wetherspoons.Target Cash Net Worth: £25K by January 2012
Progress May-08 19.0%; May-09 40.0%; May-10 63.0%; May-11 58.4%; Jun-11 58.5%; Jul-11 58.9%; Aug-11 58.7%; Sep-11 59.0%
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LucyTheDwarf wrote: »If you transferred the money out of Halifax into Progressive - i.e. you asked Progressive to do the transfer, your Halifax ISA should be closed anyway (unless you didn't transfer the entire balance). If you withdrew the money and paid it to the Progressive, it could still be open with a zero balance. Just to stress - you should never just withdraw the funds.
In the new tax year you will be free to open a new ISA to pay 2010/11 funds into. You are also free to transfer previous year's ISA (e.g. your Progressive account) to a new ISA, which may or may not be the same one that you will pay the current year's subscription in.
The ISA rules are stupidly complicated in my opinion. There's got to be an easier way of giving us tax free savings.
why should you never just withdraw the funds? (am i being really thick?). I can't remember if i took the money out, or if i just started again in the progressive-when i look online on halifax it says i have 57p in my ISA. Come the new tax year should i transfer whats in my progressive and put it in the halifax, or just start putting this years money in the halifax? can you have money in more than one ISA, just just can't put into more than one in the same tax year, is that how it works?(i'm really bad at explaining what i mean, hope you can sort of understand!)
thats scary about the condition-but you've got a good attitude to it-changing your eating habits now should hopefully help you later on
Mortgage free wannabe #124
Mortgage due to be cleared January 2036 / goal is 4/5/26 (40th birthday)
Starting balance £117000 November 2010
Balance as of 5/4/21(date decided I wanted to become mortgage free) £89426.62 / current balance £82000
Daily interest at January 2021 £4.76
Current daily interest £4.390
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