How to fall in love with saving money

atush

I can't remember from your other thread Flick, but do you have a pension?

Flick216

atush wrote: »

I can't remember from your other thread Flick, but do you have a pension?

I have a couple of old Standard Life pensions but I haven't paid into them in years. I do not believe in pension funds - it's just another way the government can screw me over! I would rather have my money elsewhere to be honest.

cathybird

Flick216 wrote: »

I have a couple of old Standard Life pensions but I haven't paid into them in years. I do not believe in pension funds - it's just another way the government can screw me over! I would rather have my money elsewhere to be honest.

I am saving into a pretty good company pension and also throwing everything I have at cash and S&S Isas - hoping the combination will provide me with a reasonable income in retirement.

cathybird

where's Lomcevak? ... Just wanted to tell you, I went and got a gait analysis yesterday at Runner's World, bought a pair of Asics Gels and went out this morning for a half-hour run. A very slow run but a run nevertheless Thanks for the push - it helped.

atush

Flick216 wrote: »

I have a couple of old Standard Life pensions but I haven't paid into them in years. I do not believe in pension funds - it's just another way the government can screw me over! I would rather have my money elsewhere to be honest.

I cannot begin to tell you how wrong you are about this.


first of all, the govt doesn't run private pensions. So your money would be 'elsewhere' not in their hands.


Second, every 80 you put into a pension, the givt GIVES you 20. So you get 100 into your pension. I think this is a great perk of pensions.


Third, if you have an employer, they will pay money into a pension alongside you. The govt made it law (they didn't before). We call this free money, and turning it down is like turning down a pay rise. Madness. So your 80 could get matched by another 80. And then you'd have 200 into a pension that only cost you 80. How can that be a bad thing?


Then, get sued, or made redundant. Pensions are safe from being taken nor can you be forced to spend that money as they aren't taken into acct for means tested benefits (until after you retire and pension credit is being abolished anyway).


I really think you need to look into the truth of pensions as you clearly don't understand them.

atush

cathybird wrote: »

where's Lomcevak? ... Just wanted to tell you, I went and got a gait analysis yesterday at Runner's World, bought a pair of Asics Gels and went out this morning for a half-hour run. A very slow run but a run nevertheless Thanks for the push - it helped.

Where did you buy the Asics?

Flick216

atush wrote: »

I cannot begin to tell you how wrong you are about this.


first of all, the govt doesn't run private pensions. So your money would be 'elsewhere' not in their hands.


Second, every 80 you put into a pension, the givt GIVES you 20. So you get 100 into your pension. I think this is a great perk of pensions.


Third, if you have an employer, they will pay money into a pension alongside you. The govt made it law (they didn't before). We call this free money, and turning it down is like turning down a pay rise. Madness. So your 80 could get matched by another 80. And then you'd have 200 into a pension that only cost you 80. How can that be a bad thing?


Then, get sued, or made redundant. Pensions are safe from being taken nor can you be forced to spend that money as they aren't taken into acct for means tested benefits (until after you retire and pension credit is being abolished anyway).


I really think you need to look into the truth of pensions as you clearly don't understand them.

I am sure you are absolutely right - I just seem to have a blind spot about them for some reason. Presumably the same utterly irrational reason I only like Japanese cars (I'll take German at a push but never French) and wines from south of the equator! :huh::huh:

I think I'm still in the mindset of government pensions - it is something I will look into - my company will be starting a pension scheme soon.

grogan777

Wow, just read the entire thread, it is very inspiring. I have set a goal to save over £5000 for the year, which is £100 a week, so im happy with that. I am about £900 left of debt to pay off, and have about £800 in cash, £300 in an isa but just going to pay off my debt gradually. £40 a week.

This is just so that I can keep on saving, as my car is going to be needing some stuff done quite soon. Brakes, service and engine mount.

I have also set myself a goal to run at least twice per week, and I have signed up for a local 10k which is at the end of May. I have found that an app called Strava is very good for running. It tracks your gps, mins/km etc and also has challenges to keep you going and motivated.

Good luck to all.

cathybird

atush, from the shop, but they were on sale and marked down quite a lot.

I normally buy trainers online, whereever I can get a decent pair cheapest.

cathybird

Thanks, grogan777. There are a lot of very sensible people on this thread who offer useful thoughts on all sorts of issues so if you find it helpful, that's good, I'm happy. I've come across Strava via cycling websites but have not looked into it ... will do so.