Countdown to Freedom

Froggy-G

Morning Tilly

Did you switch your current account to FD.. I have just been through the application process to open one plus saving accounts, and was wondering what I kshould expect next from FD.. Do you roughly know the timelines involved until they switch everything? My work has confirmed that they would not be accepting any request from FD to change the bank details on my file, so i will have to do that myself..

Thanks in adavnce for your words of wisdom..

Cheers
Froggy

coldcazzie

Froggy-G wrote: »

Did you switch your current account to FD.. I have just been through the application process to open one plus saving accounts, and was wondering what I kshould expect next from FD.. Do you roughly know the timelines involved until they switch everything? My work has confirmed that they would not be accepting any request from FD to change the bank details on my file, so i will have to do that myself..

Hope neither you nor Tilly mind me jumping in on this Froggy, but I also switched to FD just before Christmas, and so I can answer the questions: the switch usually takes about 3 weeks, however, you dont have to use it. I switched all our DDs and SOs within 2 days because I wasn't comfortable with waiting 3 weeks for them to do it.
Also, regardless of who switches your outgoings, you have to switch your incomings. So anything that comes into your account needs to be changed by you - wages, pension, benefits etc.
You'll also find they ring you after a week or two to check everything's gone smoothly and that you are happy, and to ask if you want to open any other savers or anything.

Froggy-G

coldcazzie wrote: »

Hope neither you nor Tilly mind me jumping in on this Froggy, but I also switched to FD just before Christmas, and so I can answer the questions: the switch usually takes about 3 weeks, however, you dont have to use it. I switched all our DDs and SOs within 2 days because I wasn't comfortable with waiting 3 weeks for them to do it.
Also, regardless of who switches your outgoings, you have to switch your incomings. So anything that comes into your account needs to be changed by you - wages, pension, benefits etc.
You'll also find they ring you after a week or two to check everything's gone smoothly and that you are happy, and to ask if you want to open any other savers or anything.

Thanks for the info Caz.. I have spoken to them.. They will do the switch for my DD & SO.. I am in no massive rush.. They did mention about doing the incomings myself.. So all I have to do is just wait for a switch date..
They were very helpful on the phone.. Much better than my current bank..

Froggy

Tilly_MFW_in_6_YRS

It is like one one big happy FD family and no problem using my diary, it all helps us to know more,

I am not switching bills until my mortgage switches I don't think.....so I can get advice from you two by then.....

Tilly x

Tilly_MFW_in_6_YRS

Planning:

1. ISAS
On track to have FY12/13 ISA cash available in April, however, half will all be available at the beginning of the tax year, the other half (Mr & Mrs TIlly so 2 ISAS) will be available at the end of April. However, by end of April, we will have sufficient to fill both. I will then start to fill FD savings pot, for the ISAs for next tax year.

In order to secure the funds to fill the 13/14 ISA we need £11,280 available by April 2013. I can't see that being possible due to the amount of capital we want to repay, but I am conscious that I have to balance the mortgage with cash savings for the long term future. The long term benefit of cash ISAs is important to us both, so I will have to consider how best to approach that one.

2. SKY
All sorted and 25% discount will be in place for next month, with a credit as we have just paid January's bill, to reimburse the 25% we have already spent with them. We don't have a large package, but it is £7 per month, equating to £84 a year.

3. JD Sports
I saw the Grabbit for discount this morning, so have order DS a trackie for his birthday. 20% discount and YEH, I remembered to go through TCB so, if it works, that's another 96p back!!!!!

4. FD 8% Regular Saver
We are going to delay DH having one of these. Originally we had said it was worth opening, but when you consider the cash ISA we will be saving for, in an offset savings account, then we cannot do more. However, once the offset equates to the 12 months mortgage protection scheme, then that insurance will be cancelled, and will be used to build the ISA cash up sooner, thus enabling us to open a further Regular Saver IF the high interest rate is still available.


5. Hatton Garden
I am making an appointment to see the jeweller towards the end of January and will leave some bits with her, to remove the stones. We will then determine the cost and see how I can use the gold I have to pay her in kind - this will require some research as I need to know that it is going to be as good as I would receive from HG, otherwise, I may as well sell to them. My plan was to sell all of the gold, less sufficient to make a piece of jewellery and pay the bill in gold. I am not trying to make out there is tons of it, as there isn't, however, I have a feeling that it takes less than you think to make jewellery, so fingers crossed.

6. FD Savings Pots
I have been on the phone with FD today and opened up sufficient normal savings accounts to enable me to shift cash to the following, on the day I am paid. This is how I have handled the IF bank account, but sadly, I can't have jar names. Nonetheless, my brain needs this level of visibility to know we are in the right place, so it's now being set up. I have cut the list down to 12, there were 15:eek:
Credit Card
Food
Annual Savings
Kids Activities
Kids Birthdays
Xmas Savings
Subscriptions
Dental Costs
Car Maintenance
Vacation Fund
Mr & Mrs Tilly Birthdays
ISA Funds


My apologies if anyone reads this lengthy post, but I needed to get my thoughts in order for the next phase. I am paid in just over a week now, and want to make sure I was clear about where we are now and what else has to be done.

Thanks for reading and hope you didn't fall asleep.

Tilly x

Radish72

Zzzzzzzzzzzzzzzzzzzzzzzzz :rotfl:

Tilly - I am in awe of all your plans/motivation/organisation

I'm being quite lazy at the moment (I am tempted to take a year off and fritter all my money away ) which is weird as January I'm usually thinking of nothing else

Tilly_MFW_in_6_YRS

Radish, WAKE UP I promise I won't do it again:D

Wait until Spring and your motivation will come running back. I find this time of year quite difficult as I can hear the birds early morning and late afternoon, but it's still too dark for my liking and that makes me want to snuggle.

Anyway, you can't be losing your mojo, you were part of my inspiration team, so get cracking xxxxxxx

Pour a glass of wine tonight, put your feet up and think about what you will spend your money on when the mortgage has gone :beer: You are SO close.......

Tilly x

gallygirl

Tilly_MFW_in_6_YRS wrote: »

6. FD Savings Pots
I have been on the phone with FD today and opened up sufficient normal savings accounts to enable me to shift cash to the following, on the day I am paid. This is how I have handled the IF bank account, but sadly, I can't have jar names. Nonetheless, my brain needs this level of visibility to know we are in the right place, so it's now being set up. I have cut the list down to 12, there were 15:eek:
Credit Card
Food
Annual Savings
Kids Activities
Kids Birthdays
Xmas Savings
Subscriptions
Dental Costs
Car Maintenance
Vacation Fund
Mr & Mrs Tilly Birthdays
ISA Funds



Thanks for reading and hope you didn't fall asleep.

Did someone say something :rotfl:

:eek: am v impressed/intimidated by your accounts! I'm planning on doing something similar, but in one account, with a big wide spreadsheet to account for each pot, that way I can go 'overdrawn' on one if necessary.

abouttimetoo

Tilly_MFW_in_6_YRS wrote: »

Hi Caz, FD have been exemplary in their remortgage process. I cannot fault them on any aspect and I work with processes day in and day out. They are swift, logical and responsive. Both in terms of opening the bank accounts, setting up a regular 8% saver, and the remortgage they have been excellent. Highly recommended. Best wishes Tilly x

I've seen so many good things about FD recently that I may consider moving to them in the future if I see an advantageous deal. It's nice to see people talking about their good customer service and processes and not just the good deals they have as sadly all to often companies may have the latter but not the former.

gallygirl wrote: »

Did someone say something :rotfl:

:eek: am v impressed/intimidated by your accounts! I'm planning on doing something similar, but in one account, with a big wide spreadsheet to account for each pot, that way I can go 'overdrawn' on one if necessary.

Gally, if you do this does your banking system allow you to put a narrative on the sending payment, e.g so the one receiving account woould show as £10 food, £10 birthdays etc to allow you to keep track?

PS, re 'overdrawn' tut tut

Tilly_MFW_in_6_YRS

Hi GG, glad I have managed to wake you up from your MFW slumbers :rotfl::rotfl:

All accounts are now in the process of being opened and in 48 hours I can start filling them!!!! With what I wonder, looks rond the room in wonder and anticipaion.......
A friend of mine had a 1 A/C so she had just one big pot, but my brain couldn't cope with the overdraft numbers being 6 figures.

Have a good evening.

Tilly