Go Lily Go - Paying off the mortgage

BlueMoo

Yep, sounds crazy! :rotfl:

Not sure, having read it for the 3rd time, I actually understand it, but well done on the savings!

lilyp

:rotfl: it's still easier than my crazy tin system I had this time last year. I would spend hours sat on the living room floor switching money around and filling in cash books and spreadsheets. Bf nearly disowned me.

Have written up a meal plan for the next week which should use up most of the veg. Still need to think of something to do with the celeriac . Also made my self a yummy lunch of raw carrots, parsnip, watercress and tomatoes topped with a big dollop of hummus and toasted nuts and seeds. All stuff that needed using up.

Bubble and squeak with roasted veg and poached eggs tonight :T

Our veg box was free this week thanks to able and cole offer. The whole order was less than £3 due to them forgetting our clementines last week and refunding the difference (plus free clementines this week). Fingers crossed we can have a really cheap week but we do need to spend a bit in the nursery.

lilyp

Can anyone help me with what is acceptable to Santander to get their 3% interest rate? We have over £3k in the account and 2 direct debits set up. Bf is in the process of getting his wages transferred over to it but hasn't closed his main current account with natwest as he has an overdraft which is is permanently in so we haven't used their switching service.

Account is only in BFs name. I am still transferring over the rest of the direct debits and standing orders. I just can't see any mention on the account of account fees or interest. If it was my account I would just call up and ask but as in his name I can't. Also when do they pay the interest please?

edinburgher

Well, you need £3k min to get the highest interest rate, although you get interest paid from £1 up.

You need to pay in £500/mth, have 2 DDs and pay the £2/mth fee.

I believe that my interest is paid monthly on the day the account was opened.

Can't tell you about fees I'm afraid, I've not had an OD for a few years now.

lilyp

Thanks Ed. The od is staying with natwest so we should be set up to go for interest. Will wait and see what happens.

As feared this is ending up a spendy week. Bf spent £25 on paint last night for the nursery and now we are undecided on the colours. We always spend weeks deliberating decorating decisions but with only 8 weeks to we don't have that much time.

I spent £15 at m&s on a Christmas pressie for my mum but found a gift card with a fiver still on it and 45p cash back from quidco so not so bad. Also went for coffee with a friend and bought hers so £6 gone out of my pocket money. Bf has just bought a bottle of wine with his which I think will become a weekly occurrence.

Did the weekly shop which came to £8 so if we can stick to meal plan that will be £11 for the week :T

Made some spiced mulled red cabbage to freeze for Christmas. It was the only thing I could think of to use up the enormous cabbage taking up half the fridge. Then made cauliflower and chickpea curry with rice from the River Cottage Veg book. I can't recommend that book enough to people who are trying to reduce their food budget. So many of the recipes are really thrifty, easy to freeze and very yummy. Most of them you can add meat to if you wanted but even my carnivorous other half can find lots of meals he loves.

andrea_louise

edinburgher wrote: »

Well, you need £3k min to get the highest interest rate, although you get interest paid from £1 up.

You need to pay in £500/mth, have 2 DDs and pay the £2/mth fee.

I believe that my interest is paid monthly on the day the account was opened.

Can't tell you about fees I'm afraid, I've not had an OD for a few years now.

Hi Lily,

The interest is paid (less tax) a month in arrears! Yes it is paid on the day the account is opened! :T no idea about fees either.

I've been paying in £1000 a month, didn't know it was only £500 needed! :mad: mind you, my dd's are way over £500 anyway!

andrea_louise

lilyp wrote: »

it but hasn't closed his main current account with natwest as he has an overdraft which is is permanently in so we haven't used their switching service.
?

You can use the switching service and not close the old account. I did when I switched to Santander from fd! I needed to keep a. My pension going in and b. the savings account live! :cool:

gallygirl

You're missing the point with 123 if you don't use it as your main account as they give cashback on utility bills. Only a few pounds a month but it more than offsets the £2 monthly fee.

lilyp

We are using it for utility bills I just need to change them over as most coming from my account at the moment. Getting there slowly. Need to print out a council tax form when at work today to change that one over.

Thanks everyone. Sounds like we have it sorted. I shall await our first interest payment next month :T

edinburgher

I did not realise the interest was a month in arrears - every day is a school day :beer: