The black sheep returns...

elantan

yep every little bit does ... plan C is looking healthy btw

mizmir

elantan wrote: »

yep every little bit does ... plan C is looking healthy btw

Yep - my target for this is £12K in 6 months - doable? Am not sure but can but try!

That would give us a 4-6 month buffer if one of the WCSs happened...

elantan

those buffers are handy things to have ... we have ours working for us in our mortgage account ... it isnt much but it is saving 6.25% in interest so whilst we dont get it in savings ... we save it in interest payments ... and no savings account is currently giving us that ... making it worth our while keeping it there ... our mortgage rate is 4.69%

Karmacat

mizmir wrote: »

Well the suggestions made to me were to contact the research and development offices at local universities and offer services - and to contact the funders in the areas I work in. Depends on what type of project you would be interested in? I know that a lot of academics either don't want to do project management, reporting, evaluation etc or aren't very good at it - and so my plan is to offer those sorts of services. Not sure if that helps?

I'll have a serious think about that ... there are two universities near me, and countless higher education places, to make it worthwhile thinking about that. And my business partner has very good links at one of the universities ...

mizmir wrote: »

A few days ago I joined the Don't throw food away challenge which is great for making me think about what we waste. Today was the first day I threw food away - about a third of a lettuce that had gone slimy - equates to about 20p and a mouldy cherry tomato - about 5p. May only be small amounts but am wondering how much it adds up to over a month. :eek:

How interesting to not only list it but cost it! I'll have to think about that too ...

elantan wrote: »

those buffers are handy things to have ... we have ours working for us in our mortgage account ... it isnt much but it is saving 6.25% in interest so whilst we dont get it in savings ... we save it in interest payments ... and no savings account is currently giving us that ... making it worth our while keeping it there ... our mortgage rate is 4.69%

Thats really good ...

mizmir

elantan wrote: »

those buffers are handy things to have ... we have ours working for us in our mortgage account ... it isnt much but it is saving 6.25% in interest so whilst we dont get it in savings ... we save it in interest payments ... and no savings account is currently giving us that ... making it worth our while keeping it there ... our mortgage rate is 4.69%

Yes that's what I'm doing. Putting money away into the offset so we have a cushion in case the house is not sold in 6 months time (when my job ends!). Our mortgage rate is 5.75% so it will save us interest and when we sell the house if we haven't needed it we will be able to throw it at the debts or, if they have been cleared by the sale, add it to a deposit on another house.

elantan

when we first took our mortgage out we were paying £10.77 per day in interest charges ... we are now down to £5.15 per day ... it obviously isnt all due to the savings we are putting in there ... but saving over £5 a day in interest payments is attractive ( for me anyway) and if the worst comes to the worst i can phone the mortgage company and within a few days the money will be transferred into an account of my choosing ... it works for us ... but i appreciate it wouldnt work for everyone

elantan

mizmir wrote: »

Yes that's what I'm doing. Putting money away into the offset so we have a cushion in case the house is not sold in 6 months time (when my job ends!). Our mortgage rate is 5.75% so it will save us interest and when we sell the house if we haven't needed it we will be able to throw it at the debts or, if they have been cleared by the sale, add it to a deposit on another house.

by the time you add the tax etc to that it will be a very handsome savings ... its a great idea and i am glad i am utilizing it myself

savingholmes

Sounds good - great news about extra work

mizmir

savingholmes wrote: »

Sounds good - great news about extra work

Yes - am really pleased about that. Have decided that my goal for the next 6 months (as well as keeping up paying my snowball and keeping costs as low as possible) is to build up a decent buffer fund in the offset in case we need it when my job ends. 12K is my target - but we will see if that is in any way feasible. But anything is better than nothing! And as El says - it will also help reduce the interest paid on the mortgage.

GreyhoundAngel

Fab news on the definate income Miz :T

Really hope the outcomes from the meetings are all as good !!

Angel xxx

PS, thanks for the (dodgy) hug - it made me smile