The march to financial freedom

liltdiddylilt

Hello Ali... I love payday especially higher than average. With me that is an extra 12p maximum depending on what the payroll have done :rotfl:

Pension changes continually affect our clients. High net worth for the most part means they get bitten quite a bit, but they enjoy so many perks it evens it out. I've not got a pension yet I will wait for auto-enrolment when the company will match me up to 3% by law but still my pot will be small enough to probably take as a lump sum payment without incurring tax by the time I get there . ISA's that is the way I shall go eventually when I actually have some money not earmarked for *something*

Hope you are well missy!! If you want DS to buy you something magical, go to etsy and look up scriptingle. The fair Me&O does some beautiful stuffs. My cushions came from there xx

AlexLK

Glad to hear you've got the savings bug, Ali. You seem to have had it for as long as I've been contributing to your diary though.

Personally, I don't bother with pensions and the like though can see why some do due to the tax benefits.

Ali-OK

Broggers I know I worry too much about the pension stuff, but have you read some of the ideas they're playing with? The 'lets not give tax relief at the rate you pay tax at, but give everyone 30%, so 40% and 20% payers get 30% relief'...that would affect you and if we get another coalition anything is possible.... I think my point is they could do anything and that could affect anyone.

I'm all for legal tax avoidance and the best return and I can see why you're doing that. . I'm just a bit cynical. I'm still loving colouring in my house bricks as the equity builds too - up at 53.32% of house owned with Monday's payment

There's a really good explanation of how to pay less tax when taking chunks under the new rules (to do with annual income and taxable amounts and trying to spread lumps over 3 or 4 years to reduce it), can't remember the website I read it on though . If I find it again, I'll post it up.

Lilty - Oh I used to love getting my old payslip and seeing if the pence had changed up or down that month :rotfl:. I'm £200 less than last month, but £400 more than what used to be average, so all good in the scheme of things, especially as February is usually the worst month of the year - suddenly it's up amongst the best. I can't work it out either as to why :rotfl:

When I get the passcode for B@rclays in the post, I'll be utilising my ISA too. Not sure how long money will stay in there though - artificial grass, fascias and soffitts, possible BTL deposit, DS Uni, ..oh it's never ending where spending is required.

Better add lounge redecoration if I spot gorgeous cushions too a la Mothers Day pressie - nice one . Thanks for that :T

Ali-OK

AlexLK wrote: »

Glad to hear you've got the savings bug, Ali. You seem to have had it for as long as I've been contributing to your diary though.

Personally, I don't bother with pensions and the like though can see why some do due to the tax benefits.

There's been a shift from saving enough to cover lower income months to saving for the long term. Still too many things to pay out for though, so sure it'll be an up and down adventure

:rotfl: I'm pensioned out tonight. I guess the answer for me is a balance of putting into pension pot and ISA. And property :rotfl: I need to earn more!

Skinnylatte

Ali you have totally inspired me with the brick colouring, as soon as I get moved I'm to be getting out my craft pens! I just have to figure out how to do it!
For the first time ever I've just worked out that based on what I think my house is worth, I own just 14% of it :eek: another light bulb moment for me...

AlexLK

Ali-OK wrote: »

There's been a shift from saving enough to cover lower income months to saving for the long term. Still too many things to pay out for though, so sure it'll be an up and down adventure

:rotfl: I'm pensioned out tonight. I guess the answer for me is a balance of putting into pension pot and ISA. And property :rotfl: I need to earn more!

At least you seem to have a goal. I'm only saving because I'd otherwise spend it on silly stuff that Mrs. K. would no doubt later tell me was "junk" and it was "cluttering the house". Since becoming debt free I've realised I have very little to pay for. Not sure if this is burying my head in the sand over it though?

With saving I think you have to do whatever works for you. My parents seem to think BTL is not going to be so great in years to come and are currently convinced the market will either become saturated (certainly not the amount of people wanting to become landlords when they started) and there may be greater regulation depending on which political party has the balance of power over the next couple of elections. On the other hand they are getting on a bit and as we all know, things ain't what they used to be. :rotfl:

AlexLK

Skinnylatte wrote: »

Ali you have totally inspired me with the brick colouring, as soon as I get moved I'm to be getting out my craft pens! I just have to figure out how to do it!
For the first time ever I've just worked out that based on what I think my house is worth, I own just 14% of it :eek: another light bulb moment for me...

I dread to think how little of my house I actually "own". There are times I tell others I'm "renting from the bank" as I can't see it being paid off before moving on.

supersaver1000

Morning Ali. You are the majority shareholder in your house! Well done, that's fantastic. :beer:

Just popping by to see if you've chosen gas supplier yet? I swapped to Daligas last year and got £20 from Energylink from your advice

I need to look at bank swapping seriously soon. Barclays have announced that I am no longer eligible to pay them £25 a month for their premier account. Really? :rotfl: I've been plucking up the courage to cancel it anyway, so it's not a bad thing - just can't believe they would want to push custom a way like that. Strange.

Anyway, have a great Sunday and don't forget to let me know our new gas supplier :rotfl:

Xx

Ali-OK

Skinnylatte wrote: »

Ali you have totally inspired me with the brick colouring, as soon as I get moved I'm to be getting out my craft pens! I just have to figure out how to do it!
For the first time ever I've just worked out that based on what I think my house is worth, I own just 14% of it :eek: another light bulb moment for me...

Excel spreadsheet again for me :rotfl: Used the 'border' tools to define the boxes and main outline then the 'fill' colour for each one I colour in with the new outstanding amount each month (done as a 120 squares to make a 10 year plan even though I'm aiming for 9yr 1 mth out of 13y 9mth original term left as of Jan 14). Sure I could have done something easier :rotfl: but I didn't want to do one stuck to my fridge

Getting your ownership up will give you the option for better interest rate deals too. :j

Alex - I agree I think they'll be alot more regulation in years to come, but doesn't that lend itself to more people becoming Landlords as the balance of home ownership drops towards long term renting? .

In part, I'm thinking about DS and independent living so not necessarily the traditional BTL. Not totally thought through either, so a very loose plan that won't be formed until I've got the right level of deposit together or I change my plans :rotfl:

Ali-OK

supersaver1000 wrote: »

Morning Ali. You are the majority shareholder in your house! Well done, that's fantastic. :beer:

Just popping by to see if you've chosen gas supplier yet? I swapped to Daligas last year and got £20 from Energylink from your advice

I need to look at bank swapping seriously soon. Barclays have announced that I am no longer eligible to pay them £25 a month for their premier account. Really? :rotfl: I've been plucking up the courage to cancel it anyway, so it's not a bad thing - just can't believe they would want to push custom a way like that. Strange.

Anyway, have a great Sunday and don't forget to let me know our new gas supplier :rotfl:

Xx

:rotfl: I think I'm going to try Zog for gas - Energylinx paid us nicely for doing that last year . I need to check that site as I used the MSE EnergyClub comparison tool to get that and don't know if there's anything better yet. Will report back

Ooh Lilty is the bank swapping Queen First Direct come up best for service and you get £100 for doing it, but depends what you want from an account.

I don't think B@rclays want any customers :rotfl: - that's where my ISA is and it's taken 5 unsuccessful attempts (face to face, phone, web and repeat) to get access to it :rotfl: They were this bad with a previous ISA I had back in the 2000s :eek:

Happy Sunday I've a house to get clean and family visiting this afternoon. I'd much rather be chilling out after a 6 day working week - feeling a bit shattered with yet another broken night's sleep . Keep waking up hot - perhaps best I take the winter duvet off :rotfl: