Peonie's journey to smart money management

Peonie

Arghhh, I hate not knowing how much money Mr P is going to make. It's only been a month and a half but still. We had a few sharp words with each other yesterday. I tried to find out how much money he spends each month so I can plan for when I need to start to transfer money over to him. But he did not know. Estimated a couple of things then laughed when I asked if he spent £40 a month on bits of food. He laughed and said it was more more like £40 a week :eek: I've told him to start using the joint account to buy food, 1. so there's more room in the accounts for when my wages go in and 2. so I know how much is being spent.

At the moment my and the joint accounts are full and with the dire interest rates of ISAs I don't know where to put the money. If Mr P was still employed, rather than self-employed as he is now, I would have been able to start paying more off the mortgage from this month. But I'm holding back in case we need the money.

The plumber has still not sent us an invoice for the work he completed over the last year and finished in December. For the last few months it's been nice having the extra £1,000 to get thee interest on but now I need the space.

I think the money plan is going to have to change: rather than fill the ISA next month I will move the current account overflow, i.e. when funds are above the amount interest is paid, into the ISA as and when.

Peonie

A pan of homemade soup is on the hob. The second in 2 weeks. Yesterday I made stew; ate some yesterday and it will be polished off tomorrow.

Yesterday I spent £11 in Ald1 and over £50 in the big orange store - oops.

It's been lovely weather so I've been out in garden. Mainly pulling ivy. It's taking over and I want to get it under control. It's a bit late in the year but I've covered the garden bench. I also started to clear the weeds from the veg patches then had to find a way to cover them up again before the cats cr4p in them.

Mr P shrunk one of favourite black skirts yesterday. I could not get angry at him as he did a few load of washing.

Still to do:

1. Paint toilet ceiling.
2. Make plastic bag holder.
3. Get out the exercise bike and start using it.

Peonie

Wow, every year I am surprised that the ISA interest rate gets lower and lower. I thought my parents were wrong last year to tie up their interest rate for 2 years. They were right to.

I thought my Spanish bank ISA rate went down last year. Apparently not! I phoned them last night and the rate drops in a few days and I'm looking for new contenders. But the options are dire.

The H$BC rate is not too bad but it's only for existing customers. I'm going to go into H$BC to find out what they mean by existing customers. Will a month qualify?

On the money saving front we're still eating in; taking packed lunches to work. I've requested my TCB payment.

Oh, and I've been paid.

I've had my first FS appointment. I have to have some blood tests. My next appointment is in 2 months for the results and hopefully I'll walk out with a prescription.

Plans for this weekend? Decorate, garden and a walk.

Now bed. Night.

Peonie

Peonie wrote: »

I thought my Spanish bank ISA rate went down last year. Apparently not! I phoned them last night and the rate drops in a few days and I'm looking for new contenders. But the options are dire.

The H$BC rate is not too bad but it's only for existing customers. I'm going to go into H$BC to find out what they mean by existing customers. Will a month qualify?

And this is why I never trust anything I hear or read.

Today I checked in branch:

The Spanish bank got the rate right but the rate does not end in a few days time but in July a year after I opened it. So I'm going to stick with this ISA.

Non-existing customers HSBC can open a current account and get the higher rate ISA even though it says it's for existing customers. 2.75% is good at the moment.

MrP reactivated his CA with the horse bank with the promise that I can control it. Wa ha har. Now I have money options he's phoned the plumber and asked for the bill :doh:It's my own fault; I did not tell him not to.

Another packed lunch today, train to and from work and £6 spent on sell-by tomatoes and pies that have already been cut into portions and are in the freezer.

We have another exciting night in planned. How about everyone else?

shala_moo

Hi Peonie, thanks for the heads up on the HSBC ISA.. I need to get one when my regular saver finishes and that one sounds like the best interest there is at the minute!!

My Ha1ifax savings account has gone down to 0.01%:eek: after the initial bonus % from last year so i'll be moving that pretty sharpish as well when the new ISA year starts.

xx

Peonie

Hi Shala,

Move that money quick! You should check. You might still be able to move it before the new ISA year starts. As long as you don't open a second ISA in the same financial year and put money in it I think it can be moved. It can't hurt to ask.

I don't know how much is currently in your ISA but the 2.75% is based on £15k in the account. And just for you I've copied the tiers from the website here: http://www.hsbc.co.uk/1/2/savings-accounts/cash-isa

1. Enjoy variable interest rates of 2.75% AER (2.72% tax-free) variable for balances over £15,000.
2. 2.10% AER (2.08% tax-free) variable for balances between £9,000 and £15,000.
3. 1.75% AER (1.74% tax-free) variable for balances up to £9,000.

Even the 2nd tier is not bad at the moment. A few of my normal banks are only offering 1.75%.

Px

Lois_E

How long have you had your Ha1ifax one? I think the rate goes down once you've had it a year, so if that's already happened to you, then you must have opened it in 2011-12?? Have you opened one for 2012-13? Anyway, moving money between ISAs that you've already opened doesn't count against any of the limits of what you're allowed to do with them.

Peonie

Thanks all my recent posters: Newgirly, Lois, Moneycurious and Shala. It's good to have you to chat to. And thanks to all the thankers. It's good to know someone is reading.

Yesterday I made another big pot of broth. It was much better than last weeks. A few of the bargain toms I bought on Friday were soft so I threw them in as well, lovely.

I also was back out in the garden and managed to fill the green bin. I'm not putting ivy in my compost bin.

On the money front I got sick of waiting for Mr P's reactivated bank details for arrive and transferred £465 into the ISA. This money was not gaining interest so it's better being somewhere else.

Peonie

Peonie wrote: »

Still to do:

1. Paint toilet ceiling. Nope.
2. Make plastic bag holder. Yes, after 2 or 3 years I've finally made one. This is actually one of the first things I've made and kept.
3. Get out the exercise bike and start using it. Nope, but I did walk an extra mile (I think) today.

A slight spend day today. Around £3.60 on medication that was a must. I felt pants and considered phoning in sick. But I ploughed on and finished at a decent time instead. Packed lunch was lovely.

£300 left my account today to FD; taking me closer to my goal. If Mr P's work picks up the end is in sight.

Yesterday I went on a walk with a good friend to support a charity and ended up spending an extra £5 on snowdrop and miniature daffodil bulbs. Oops. Oh well, it's all for a good cause.

shala_moo

Peonie wrote: »

Hi Shala,

Move that money quick! You should check. You might still be able to move it before the new ISA year starts. As long as you don't open a second ISA in the same financial year and put money in it I think it can be moved. It can't hurt to ask.

I don't know how much is currently in your ISA but the 2.75% is based on £15k in the account. And just for you I've copied the tiers from the website here: http://www.hsbc.co.uk/1/2/savings-accounts/cash-isa

1. Enjoy variable interest rates of 2.75% AER (2.72% tax-free) variable for balances over £15,000.
2. 2.10% AER (2.08% tax-free) variable for balances between £9,000 and £15,000.
3. 1.75% AER (1.74% tax-free) variable for balances up to £9,000.

Even the 2nd tier is not bad at the moment. A few of my normal banks are only offering 1.75%.

Px

Thanks for this.. unfortunately I can't move any money yet as I already filled my ISA for this year. It'll be the 2013-14 ISA i'll be researching.. Last years ISA I filled was a 2 year fixed one with Ha1ifax so can't move that either!

Hi Lois, the Ha1ifax savings account was one I opened last year - I've just had the interest come through this week, not had chance yet to look for another savings account.. it's on my to-do list...:o

Can't wait till my mortgage fix is over and I can get an offset mortgage, it's got to be easier surely :rotfl:

Hope you're feeling better xx