saving £100,000 ten years to utopia !!

streethack

Heres an update to cheer myself up during this deary summer :beer:

So things are going well slow and steady. If my calculations are correct in 8yrs 6mths your gonna see some serious !!!!!

Update
ISAs: £15,618
General saving: £0
F/D savings: £1,800
Company Shares: £4,335

Or £21,753:eek: never thought I could have this type of money on hand. All thanks to reading all your own mortgage free threads and thanks to money saving expert for planting the seed. Its certainly getting easier than when I first started as I have had a few pay rises since then and things aint so tight. Although my wife and I now have three kids under 3 and she will be working two days a week soon so I guess it swings in roundabouts.

I get paid twice in August so should be able to put some of these extra funds into my general savings to keep me on target for my £5100 target for 2012.

Onward and upward.

streethack

Quick update for all

ISA: £15,618
General Savings: £1500
F/D Savings: £2,100
Company shares: £4,664

On target to reach my target of £5,100 for year end also have a ISA maturing in October so should be able to transfere for a higher rate.

wantabetterlife

Wow streethack...fab progress:j:j:j

streethack

Wow thanks for the reply was getting real lonely in here.

gallygirl

Well done on your progress :T.
I don't like odd numbers - I think you should aim to have it paid off by 40 .

streethack

Well it looks like Summer is over and the cold weather is here although so far October is looking better than the summer we have had. Got my Mortgage statement through and I currently owe £152,884, pretty shocking I know. Heres the lastest update.

ISA: £15,618
General Savings: £1,500
F/D Savings: £2,700
Company Shares: £5,407

I have an ISA maturing at the end of October its a shame that there are not many deals around. May have to plump for 3.1% for one year. luckily the lion share of my ISAs are currently in a 4.1% two year fixed deal.

gallygirl

streethack wrote: »

I have an ISA maturing at the end of October its a shame that there are not many deals around. May have to plump for 3.1% for one year. luckily the lion share of my ISAs are currently in a 4.1% two year fixed deal.

You're right, there are not many decent deals about at the mo . I was going to recommend a Nationwide Reg Saver at 6%, only £250 a month allowed, but seems to have been pulled . Alteratively, some of the regional BS's are doing decent reg savers, from memory West Brom, Cheshire & Derbyshire.

streethack

I think the issue with transfering the ISA into a savings account will mean losing my allowance for that ISA as it is effectivly a withdrawal, so pretty much stuck with the crappy deals. Unless I keep it in the ISA account until a better deal springs up?

streethack

Well managed to get in just before the Marks and Spencers drop there fixed rate ISA to 2.9% got on at 3.1% for the next year. So after that ISA matured that adds another £169.81 to the pot. That consitutes an update right?

ISA £15,787
General Savings £1,505 (£5 interest)
F/D savings £3.000
Company Shares £5,466

chirpchirp

Hi Streethack,

Just wondering if when the M&S ISA matures next year it it worth waiting 6 months and getting all the ISA's under one wrapper so to speak. Probably not, as you probably lose too much interest.

Really good to watch how you are doing it as I'm doing a similar thing with mine. Saving in ISA's with the idea of eventually overpaying. Originally started on an interest only mortgage but I've gone over to a repayment so I think of that as overpaying too. Have you thought of tying some up in a stocks and shares ISA? Obviously this can go up and down and you do have to pay an admin fee on each original unit but as units are low, if you have money that you wouldn't mind being in for a number of years, it may be worth your while.