Lulabelle's MFW Diary

lulabelle1

Dress has been packaged and dropped off at the post office, so that should be back with them soon. Also just returned some shoes. They were in the sale and were quite stunning but after I tried walking round the house in them I realised that it just wasn't going to happen. I didn't want to become crippled for the sake of looking good!
Have withdrawn some emergency dollars for the trip just incase I need them.

lulabelle1

Jiggled some money around and looked ahead at next months money situation.... Looking OK but decided on a few nips and tucks in order to increase the OP for Feb. This means I need to be super sensible whilst away in the States next week.......

I've rounded my OP target up to £15,000 - a nicer number! And also made my signature look a bit prettier......

Frozen chilli has been removed from the freezer for a hassle free no cost dinner.

lulabelle1

Back from trip to Miami, all went very well and it's looking very promising......
DH did a splendid job on the MS front whilst I was away, so super impressed.
Managed to avoid spending too much whilst away, just a few bits and pieces here and there, all well within the budget I had set for the trip. Got my sisters birthday present whilst I was there, so saved a few pounds due to the exchange rate. Also, bought DS1 a DS game for his birthday which is in March - I need to purchase the games from the States as he has a 3DS from the States and Nintendo decided that they would make the 3DS and the games region specific, which to my dismay I discovered on Christmas Day. Grrrrrrr.......
Bought a few bits last month via Quidco, they are still showing as tracked and so still not available to be paid in to my account. It's not a lot of money but was wondering how long it usually takes.
Have bagged up all of the Christmas gifts I bought for this year coming along with the presents that we are "recycling"..... Most people are covered, so I just need to put aside money each month for the kids presents. Never been so organised and it seems a bit daft but I guess it makes sense to buy things whilst they are in the sale.
DH is working today and is heading home soon thank goodness as I'm feeling tired (catching up from night flight and jet lag) and DS2 hasn't stopped talking since he woke up at 7am. I don't know where he gets his energy from.
DS2 is being toilet trained at the moment, we started 2 weeks ago and its going amazingly well. I think just 2 "accidents" in the last week and his nappy it totally dry when he wakes up on a morning. Great for the money saving and also lovely not to have to change nappies any more.
Sticking with meal plans and limiting the amount of takeaways, just one this year (only 2 weeks but it sounds like longer if I say "this year") and that was the night before I went to Miami as a parting gift for DH and I.....
I reduced the budget a bit this month for food and fuel so it will be interesting to see if we can still stick to it, fingers crossed.
Couple of parties coming up for the kids in the next few weeks but I managed to buy loads of little lego toys in the sale at the lego shop, so they have been placed in the present box and will fit the bill nicely!
Well, thats me caught up, be back soon to look in on how you are all doing.

Best, L xxx

lulabelle1

Apart from an emergency £1,000, I have no savings, all of my money has been OP'd on to the mortgage. I can access this money at any time and draw it back without penalty etc etc. So, question is, do I just continue to OP or should I open an ISA and start saving in to this too.......

If anyone has any thoughts on this please let me know.

Rate on my mortgage is 2.5%, best ISA rate seems to be in the region of 3%.

Thanks, L

Tilly_MFW_in_6_YRS

Morng LB, I seem to recall reading somewhere on here that the recommendation is to fill ISAs first and forget them as that means you gain the long term benefits of tax free saving.

No idea which is the right thing to do though - my plan is to fill both isa and then continue to OP.

Best wishes Tilly

lulabelle1

Hmmm, thanks Tilly
I'm starting to think it might be an idea to do the same....
Do you still pay into pensions too, or do you consider your isas/mortgage free etc to be your pension?
Sorry, just being curious and no friends (with same ideas) to discuss with!!

Tilly_MFW_in_6_YRS

Hi LB, I know just what you mean about being able to discuss stuff, it is really difficult I think.

As I am employed, I have a final salary pension scheme, into which I pay the max, plus an AVC, but, I don't have enough ready cash. My intent is to fill the ISA each year and basically forget them, unless disaster strikes and I have no choice but to touch them.

It's not easy as I have had to stop some big purchases we needed until May, however, it does mean that both ISAs will be complete for Fy12/13 towards the end of April.

Good luck with your thinking.

Tillyx

lulabelle1

Wow, final pension, seems to be unheard of nowadays!
I need to have a big rethink with my whole strategy and make sure I'm doing things in the right way. I'd thought about seeing a financial advisor, but I believe that the advice will be whatever makes them the most money rather than what is actually best for me.

Will spend some time this week going through everything and try and make some decisions.

lulabelle1

Tilly - do you have any recommendations in regards to ISA's? I guess I would be OK going for a long term fixed rate as I am able to draw back OP's from my mortgage should something come up that would require me to need some cash.........

lulabelle1

Also, I like the idea of paying in to it and then forgetting about it..... Well, until it's really needed for an investment or something