10k in 18 months

coolcats

I have done well these last few days, I've had very little spending, and some no spend days at all. I refuse to shop on christmas day, if we run out we do! Also Boxing day, would only be real essencials that day.

Boxing day we went to a friends house for a few hours, she'd invited a few of us so was nice to do something different. Mine were only kids so they were a bit bored with Adult chat, and I was the youngest by 15 years! Still nice to hear the stories. We all brought a few bits so nice mix of food, lovely puddings even better.

Yesturday I suddenly realised there was a good chance I would get a charge on the current account as not enough would go in this month. A lot of messing about but soon sorted with transfering money in, I couldn't do it the way I wanted so had to go into the branch. they couldn't do it how I wanted so ended up changing the way. Had to go from one bank to a second bank then to the one it needed to go to. Will be a one off as only had 2 weeks to get it all for this month.

A friend took the kids to the cinema and didn't want money for it. So I saved there. And it was a film they wanted to see so saved me going, I'm happy to wait till its a bargin film (£2.99 with popcorn and a drink)

I have also changed a few direct debit pay days, not a lot, but means they all come out from the 22nd to the 1st, which is better as I can tranfser it later in month, getting more interest.

Today we went to the next big town to get school shoes etc. Both have gone up so trainers as well, 3 pairs in sale and 1 school shoes full price, better than may of been. Got a few other bits, had brunch out to make it a day out. Normally would spend at least £200 but came in at a better £140. I was very stricted on what we brought, Although I did sneak in some body shop coconut shower gel, although it was on offer, I got 2 x400ml for £7 rather than 750ml for £7.50, (which was also reduced) a a free sample of something else. Good job we only go over 3 or 4 times a year.

Also transfered the money back to orignal account, easier than yesturday, but not as easy as it should of been, oh well, next time it will be. Had to transfer it to a different account and then the bank could transfer it from that account. I should be able to do it myself next time.

coolcats

Well a few more changes have been made to make life easier and hopefully help save money.
All money (by ex's maintance) has now been changed to the interest paying current account, trying to get as much interest as I can. I have also changed all I can to monthly payments (4 weekly) to make budgeting easier.
The plan is to keep checking the bank daily and transfer when needed. Get it to the maxium they pay on interest and then transfer so I get the maxium interest.
Keep up the monthly saving and cut the spending right down. I have joined the NSD for january and will dofor each month, hopefully increase the no spend days as I go. I hope to carry on with the selling bits we don't want.
I have done well the last few months but want to do better.

coolcats

Well have done the sums for the end of the month for december.

I have had 16 NSd so thats good and helped loads to keep me focused. I've also looked at the bank accounts I have and reworeked loads of things this month, much needed and has helped with totals. Instead of making no money on current accounts I'm set to make some, a little not loads but will all help. And most important keeping the diary has helped. I have an indept one on paper and this to keep focused.

I have managed to save £1018 for december, much more than I expected. There's no interest including on that so January should be good as well. The main reason has been the changes to the bank accounts and being very strict with myself for buying for christmas. Had hardly any waste this year and what there has been has be mainly left on kids plates.

I have now set up 2 saving accounts so there should be at least £500 a month saved, although I'm not expecting loads after this month.

I have changed all my payments (except ex) to the new current account and changed what were weekly to 4 weekly. So My budget is based on a 4 weekly pay so once a year I should get extra pay which I hope to save. And will gain interest

I have also changed all bill dates from the 22nd of the month to the 2nd of the month in hope of getting maxium interest as long as possible. It has also meant the electric and gas bill has gone down (I'm in credit) so thats a saving of £18 a month straight away on the bills. Although I'll keep an eye on that incase it needs to go up.

My £10k target is getting closer.

Also going the January NSD with a target of 15.

coolcats

Happy New year !!!!!

Well I have managed to find out some of my interest, takes my total up quite well, not been able to get all of it, but have gone over my expected amount, hoping to be able to add in another £150 to my total for Dec. makes it a really good start to the new year as most of them haven't had a full year of interest some only a few months.

luckynumber13

Happy New Year Coolcats, you are doing brilliantly :j. Well done for getting the kids on board, thats half the battle won!

coolcats

I've had a mix of days. We had a quiet start for new year. I didn't quite get the £150 as I had expected, but still did well. Happy with that. Some of my new accounts pay interest monthly (only option) so will see what they do each month, will only be a few pounds but all helps.

I have had to shuffle payment dates a bit to get the best interest rate. Also look at keeping the shopping money in with the bills longer as then it gets interest. What I plan to do is hold it in there and just take out what I need as late as possible making sure I move it over just before I do an online shop. I had thought about a credit card and just treat it as another bill, so may still do that idea. Although not sure it will pay best.

The kids also have new bank accounts with better interest rates, still have the others open, just few pounds in. Money they got for christmas all paid in, joys of family members not living local. Teach them about saving from the young age.

We had a few days away, cost £60 as a good rate on the shared self catering accomadation and for the food. Other lady organised it and did all the cooking, best break ever! Although part of the agreement was we cleaned and changed bedding when we arrived and when we left. Still good deal though. All planning to go back again. Middle of nowhere, no shops so no spending. Just a few days of fun and relaxing. Made use of the electric and charged the toothbrush and phone.

Have started on the no spend for January. Managed to get 6 so far. I had to spend today though to restock. But hoping that will be it till friday or even saturday. Will depend on how long the bread last. May have to get 3 loaves instead of 2 in future we seem to be going through loads. I do have part baked rolls for an emergancy though.

coolcats

Now seriously looking into the credit card idea. I'm thinking it will help to keep the money in the bank a bit longer. Which means getting more interest. Also the cash back would be a lovely bonus. Only problem is my main shopping is done once a month online and Lidi between. Aiming to do main shop once every 6 to 8 weeks. I do use coop and a couple of local shops. And now and then online for kids clothes and bits. So not sure the card would get used much, still helps even a bit.

coolcats

Been trying to get my son's Dad to agree to coming off his bank account, we both have to sign currently. But as we aren't together makes it complicated. My idea is we close it totally as interest rate is so low. The money goes into account I already have for him that is a higher rate. So far he did disagrees. I should add all the money he has in there is what my family have given for birthday and christmas. I'm willing to negotiate, but seems silly to have an account that is at .75% when there are better rates. The other one he has is 2.1% and I know we could do better. Oh well keep trying with that one.

I had a toilet leak fixed today, rented place. I had asked before Christmas for it to be done, so glad it has finally been done. Although he at first said the carpet was dry so no leak, yes there is as its wet here! Was the pipe into the toilet luckily. I've had a towel soaking it up the last few weeks, that is wet so must be a leak. All fixed ready for the next problem. I still get letters for landlady, they moved out when I moved in. Real pain, but I just let them pile up and take the to agent when I think about it. Not sure its all junk like she says though.

I'm gradually working through the christmas chocolate. Have said when its gone we won't buy any more. I'm sure we will though, for Easter!

Been looking at when we will need the next online shop. I like to do a big one every 6 weeks or so and bits between. The next one should be the end of January, but looks like I could be into Febuary till we need things. So thats looking good. So far I have only spent £10 this month, which I am pleased about. that was mainly bread and bits. Not even milk so far as had some in the freezer, still have.

Robin_TBW

coolcats wrote: »

Been trying to get my son's Dad to agree to coming off his bank account, we both have to sign currently. But as we aren't together makes it complicated. My idea is we close it totally as interest rate is so low. The money goes into account I already have for him that is a higher rate. So far he did disagrees. I should add all the money he has in there is what my family have given for birthday and christmas. I'm willing to negotiate, but seems silly to have an account that is at .75% when there are better rates. The other one he has is 2.1% and I know we could do better. Oh well keep trying with that one.

Do you trust him enough to put his name on the 2.1% account?

Look at it from his side a little, if your son only has an account with you as a trustee the son when he has the money handed to him in the future might see that money as from you alone and not his Dad also. His Dad may be worried about being seen as not doing as much as you if that were to happen.

If you trust the boy's Dad though, offer to put his name on the 2.1% account if the only worry is about the interest rate. You can also make accounts "one to sign" rather than "both to sign" so avoid the both signing problem. What are you both needing to sign for though? Why is money coming out of the account?

coolcats

Problem is we aren't together. And although it hasn't been a problem I moved last year and was hard to change my son's address as his dad had to sign as well. Which took three attempts to get him to do.

His Dad is also a spender, where I am very much a saver. At the moment his dad complains how he has no money, but I think he wastes it, smoking etc, but also not looking at the cheaper options and saving when needed. To give an idea we had to take him to hospital a few months back, we got hopsital accomadation as far away from home and had to stay for 2 weeks. He refused to use it and choose to eat every meal out every day, buy new clothes rather than wash the ones he had. I choose to get soap powder and wash clothes, buy a loaf and have toast and make sandwiches etc, I did eat out but only a few times, tea was easy things at the house. After he complain at how much it had all cost him.

I don't trust him with money No, but I would trust very few people.

I want to close the account, we both need to sign to do that. Just to have one less tie with him as much as make life easier. His Dad has opened him a bank account, I have the second one for him, silly to have a joint one.