Lulabelle's MFW Diary

lulabelle1

Was driving back from a meeting earlier and resisted the temptation to pop in somewhere for some lunch, made do with a homemade sandwich instead. I think that makes it 3 NSD's in a row..... check me out!!

Grrrr, just remembered, DH is going for a haircut after work, so it's a spending day after all. Not for me though, I've been good!

I did consider popping in to town on way back from meeting for new lip gloss but resisted, it can wait until after pay day.

lulabelle1

Have decided that I'm going to try and get some money together to go in to an ISA before the April deadline for this year. The plan is to put it to one side and then wait until nearer to that time to see if the rates are any better.

So, OP's will be reduced down significantly for the next few 3 months.

Then, from April onwards, I will arrange to pay £450 per month in to an ISA. Anything else will go as an OP to the mortgage.

My regular monthly pay will allow me to do the ISA saving but will reduce the amount that I had planned for OP's - putting my £15k goal for 2012 at risk, however, if I manage to get some bonus, I will use that to top up the monthly OP amounts. So it is still within reach if I focus and behave very well. I will keep my goal at £15k as it's something to work towards......

lulabelle1

Plus, I will aim on reducing my spend in some other areas too, every little helps!!

lulabelle1

Have had a great Money Saving Morning!!

After seeing a thread about the 75% Boots sale, I ummmed and ahhhed about whether to bother, but in the end I decided I might swell take a look. I had £14 worth of boots points, so figured it wouldn't end up costing much.

So....... visited the local Boots, got there after the school run and there were a few bits and pieces left on the shelves. Managed to get a few bits for little girls birthdays (DS1 has one this weekend), friends birthdays and a few Xmas gifts.

Everything together would usually have cost £96, based on the price tag, I used my £14 worth of points and just paid £10 cash. So, £86 saved!!

I then received a £5 No7 voucher, which I used to buy my face powder, I paid £4 cash, so £5 saved!

I had remembered about the Clinique free mascara if you take in an old once (popped current mascara which was just about used up in to handbag this morning), so got free mascara, approx £10 saved!

So, my little trip to Boots gave me a saving of £101 and I only had to spend £14 of my own cash which is fairly impressive!!

Still didn't pick up my new lip gloss as waiting until after payday......

Sepa74

Hi Lulabelle,

I wouldn't let the fear of Financial Advisors not advising you well stop you from going to see one, particularly if you are thinking about pensions and saving for your old age.

Any FA will take a holistic view of your savings, investments, the age you wish to retire at etc and think of things you won't think of yourself! The trick is not to just accept the advice, but come on here and discuss it - I am sure there would be an appropriate forum on MSE that will be able to let you know if the advice you're given is not up to par.

If you are really concerned about the conflict of interest then you can opt to pay them, but it is expensive - I paid mine around £400 to sort out my messy pension funds and advise me as to whether or not they were appropriate. I knew that my previous company had put the money in a very low fee account, so I did this to get around the fact that it was likely the best advice was not to move my pension because of the low fees!

Another way to reduce the conflict of interest is to make it clear that you want a long term relationship. That way s/he knows that if they don't give you good advice you will not return.

lulabelle1

Thanks for this Sepa, it's really good advice, I appreciate you taking the time to comment. You're right, I will need to look in to seeing a financial advisor and probably sooner than later. I will ask some friends if they have used anyone and then if not I guess it may just be a case of googling....?
Many Thanks, L

Sepa74

Hi lulabelle,

Asking friends is probably a good way to get someone who is OK, and then as you say, googling!

Good luck finding someone.

lulabelle1

Well after much deliberation I decided to OP rather than put aside for an ISA. I will continue to OP as much as I can until April, at which point I will set up a monthly S/O to go in to an ISA account.

All money switched around, I actually look forward to doing this each month, strange.......

Had some spending to do this week, DS2 needed a bed (moving from cot), so had to buy bed frame, mattress, duvet. DS1 also needed a new duvet. DH wanted a rug for the lounge - got a bargain and its nice to have it as we have wooden floors, so makes it a little more cosy. I bought my Birthday present (not until March) which is from DH. Once it arrives it will be wrapped and put to one side. Made sense to buy in the sale as half price.

Dinner time now, L

Tilly_MFW_in_6_YRS

Come in Lb, spill the beans, what's the birthday pressie? Excellent idea to buy in the sale.

Have a good weekend and good luck on the disposable BBQ hunt - they also had them in B&Q in the sale bit.

Tilly

lulabelle1

Well I'm not 100% sure that I managed to get it, once I have the despatch note I shall spill the beans. I don't want to tempt fate.

Now I've gone and built it up to be something really exciting, which it isn't so don't hold your breath or carried away with the suspense!!