Peonie's journey to smart money management

unhappy_shopper

Peonie wrote: »

Today I went to the horse bank and set up the higher interest rate tier.

?

Well done on getting to sub-£10.
Peonie, if you don't mind me asking how much is the interest rate at Ll0yds? I need to find a safe haven for a few months for some money earmarked for uni fees and seeing that I already have an account with them, it might be easier to move it online. TIA.

chirpchirp

Perhaps I can answer that one.

A Lloyds Vantage account is a tiered interest rate and the rates are here: http://www.lloydstsb.com/current_accounts/vantage4.asp

Basically 4% if you have over 5k in savings but they only pay interest upto 6k. You need at least two direct debits on each vantage account that you have and I believer you can only have a maximum of two.

However, if you are saving for uni you may find it's best to have filled your cash ISA amounts first as the vantage accounts are taxed for taxpayers. Hope this helps.

unhappy_shopper

chirpchirp wrote: »

Perhaps I can answer that one.
A Lloyds Vantage account is a tiered interest rate and the rates are here: http://www.lloydstsb.com/current_accounts/vantage4.asp

Thanks chirpchirp for the info.

I don't think I want to have the hassle of having to add 2 direct debits to my DS's account to take advantage of this offer. Right now the money is in his Ll0yds e-savings with 1.6% interest and no tax. I'll ask him to go to the branch and see whether he can be upgraded to that offer (4% interest) without any DDs. Thanks again for your kind help.

Peonie

Hi US and CC, thanks for stopping by. CC is right you have to have 2 DD's on the account. But they can be for anything. Evan an annual magazine subscription so it needn't be for much. 2 of my DD's are now out of date and I'll keep them open so I continue to be eligible for the higher interest rate.

Peonie

Hello everyone,

I hope you've had a lovely weekend. Mine has included spending on the house. But on things that are needed and will help to finish the kitchen. The money came from the house improvement savings pot.

My spends seem to have been quite high this month so I am a bit disappointed at the amount I saved - £300 in the monthly saver and £175 destined for another saver. Plus of course £41 paid off the mortgage. So I suppose it's not too bad.

October's mortgage payment comes out tomorrow. I never thought I would get this excited at the thought of a payment and what I will be overpaying.

Also this weekend I finished a free book swap book, downloaded a magazine app, did 3 loads of washing and had to do a quick last minute shop for dinner tonight. Yesterday we did refrain from a takeaway; instead I made roast pepper and sun-dried tomato risotto with homemade garlic ciabatta. All food was from the store cupboard.

The freezer is starting to get a bit empty. I can't believe I could not fit any food in at the beginning of the month. Mr T's does not have as many bargains as it used to have. Booo.

Peonie

Hello,

Today I paid a huge, wait for it, £12.72 off the mortgage. Taking it down to £147,600.00 and £10.10 interest per day.

Here's my signature:
Rainy day fund: £12,000/£12,000, achieved 100%.
12k in 2012 challenge no. 168: £4,900/£4,000, achieved 126%.
Mortgage now: October 2012, at £147,600, end date May 2036.
Mortgage at its highest: July 2011, at £154,000, end date July 2036.

Peonie

Today has been a NSD, I took lunch to work (2/5), it's raining like mad and I've brought some work home so I'm trying to work up the enthusiasm to start it. But first Mr P is making dinner and I really should help him.

Px

Peonie

Hmmm, I have been procrastinating. I have logged onto my bank accounts. Updated the SOA. Transferred the £5 Mr H rewards. Calculated I will be overpaying £22 next month. Now I'm watching the news.

I think I should have an early night and go into work early instead.

Mortgage_Reduction_Novice

Hi P,

Well done on your NSDs and on the banking updates. Did you get an early night in the end?!

Peonie

Hi MRN, today was a spend day. I bought 'bits' from the supermarket to make my lunch in work (3/5). I also bought some chicken for the freezer but left it at work :doh:I checked Mr Ts yesterday and today; no bargains.

I did not get an early night, but I did get an earlier train into work, worked late tonight and have done a bit at home already.

Mr P was an :A and made cottage pie for dinner. With left overs for later in the week. I should make him a cup of tea.