The march to financial freedom

Ali-OK

Just goes to show how difficult financials can be

After the conversation I've just had with the Spanish Bank I think any extra should probably go to lowering my capital - that 5% ERC is on the outstanding balance, so at this moment in time I'd need to be looking for 1.39% rate to make moving it worthwhile. The more I pay off, the lower that ERC gets and the quicker I can move to a lower rate. But is it worth it...I'd just be paying back that ERC.

Even more annoying is for loyal customers, rates are 0.20% higher :mad: and fees, well their take on it is they're £500 cheaper (at £499) than the £999 for new...even though they advertise 'loyalty' mortgages at £495 fees for new mortgages (who have their current account and moving mortgage to them). Talk about soul destroying!

Broggers the info I have is £3.75 per new something or other for WP fund and 0.95% fund charge - there were changes so I get different bits on my statement showing charges from money added before and after a certain date. Just about to ring them...after calming down from walking into my study and realising I'd left the light on since yesterday :mad: Least it's an LED bulb, but what a waste of electric.

Paying CC debt off was much easier in comparison to all this :rotfl:

Brogden

My fixed rate will end just before Christmas this year and I am trying not to think about it too much

On the pension Ali, from what you say it is clear the Pooh have changed their charging structure to clean it all up after the 'wild west' of the nineties and noughties and have applied the changes to existing customers . I have never minded the Pooh at all. My Pooh fund is somewhere in my SIPP now along with a load of other odds and ends. I can't remember how much they let me get away with but I certainly wasn't taken to the cleaners......I'd have remembered if I was.

Having said all of this, the Pooh would no doubt tell you that with profits investments are for the medium to long term.......five years plus? Partly this is to protect their own interests as they hate 'short termers' in with profits .....they do have a point though.

Even with the revamped charging structure does it make sense to start paying in serious contributions to something you are going to leave behind? As long as you are disciplined with the extra funds you have put aside and contribute them in this tax year........I know of course you are the Goddess of Discipline

You are more nervous about the election than me - I think it will be a storm in a teacup. What we all have to be concerned about is longer term government policy and that is a roll of the dice :rotfl: !! Gotta do the best thing with the rules standing as they are

Broggers x

liltdiddylilt

Hello Mrs

Glad yours doesn't sound like a similar set-up to Brogdens! That is blooming daylight robbery!!! Some Pooh plans are great and the WP was an excellent fund in the past but they just don't see the same returns these days as the non-insurance companies can provide.

Anyways you know my thoughts and my esteemed colleagues thoughts on the matter. Always happy to help but definitely think when you call you should ask them for a transfer valuation and transfer/discharge papers just to have them so you can see what would happen if you moved it wholesale in the future. Will clear up anything you need to know about the exit penalty (which I don't think will apply) and the terminal bonus being transferred with the pot (which will unless I am being really really thick!) Not to mention you will have the papers you need to move it in the future if you want to!

Thanks for your help earlier xxx

Ali-OK

No further forward on Pooh as got distracted by work - that's not a bad thing as got billable work done and client facing stuff too. I'll update on it as soon as I've spoken to them...the on hold wait went past 10 mins twice. Can't be doing with that But I do see your point Broggers and I'll check that out as if it's a loss come move time it's not worth paying the extra in the first place. Lilt I'll defo ask for the valuation and papers, so I have them ready for the 'big move'

For this month anyway, nothing extra would go to Pooh, so I've got over £500 to move across to the ISA for now. :T. If I include current account interest and Qmee and Geo Lotto pennies, that's @ £14 of free money off to make more money

Politics came to my neck of the woods today, but as usual I'm late to the party I wondered why there were tons of cars parked along the road and police around. I could have been there with my protest placard and heckled :rotfl: You can guess who it was then

Financials then:
- bank account checked - nothing in or out today
- Freepostcodelottery checked
- Geo Lotto played - up at 73p
- Qmee - sits at 27p

A NSD and good to know my new business phone is working as it should. I do need to buy a case/cover for it before it slips out of my hand :eek:

Ali-OK

Afternoon Diary

I have news from the Man at the Pooh . The 'top up' is classed as a new 'segment' and not a top up to an existing segment, so I would lose out by increasing contributions and then transferring my pot out within 5 years. So I've cancelled the increase (it hadn't been processed).

Have also requested both the transfer valuation and discharge papers - Lilt you'd better be sitting down for this - they're working to a timescale of 22-25 working days to do it :eek:. Apparently a high number of paperwork requests due to the rule changes.

Today I've moved £391.50 to the Cash ISA, keeping some back in current account in case bills for boiler service, hygienist, vet and birthday vouchers/presents go over what I've budgeted. That's now at £564.34.

DS is off to the cinema straight from school for a friends birthday on Friday, so we've a card and present to buy and I'll give him some spends/emergency money to take.

I've switched the heating on having put a jumper and socks on, I'm still cold.

Had my reflexology session today - numerous oohs and ouches, I'm back in a couple of weeks time. Must get my foot spa out and give my feet a regular pamper and massage, it does make a positive difference and can heal other bits of the body.

Pork steaks and veg for dinner tonight, also need to pop out to Sbugs and get a load of GF bread as have run out. Talking of GF I think I will go through the cupboard and anything that DS won't eat/doesn't like and I can't, I can give to the local Food Bank.

Financials then:
- bank account checked - £100 gone to DS's 6% Halifocks Reg Saver - £500 in there now
- Geo Lotto played - up to 90p in the pot
- Qmee - still 27p
- freepostcodelottery email seems to be later in the day these days

Savings - across my pots (not including DS's), it is up to £9,697.79 from £8,773. :j. It will go down with the garden renovation expenses at the end of the month though, but still happy with that

Ali-OK

5 minutes in Sbugs and I've spent £8.82 :eek: 1 pint of milk and some Basics bin liners for the office (£1.04 total) - the rest GF goods in a 5 for 4 deal. Expensive!! But shopped wisely and got extra bread for the freezer.

Looked at the YS meat, but none at half price, all about 20% off. The freezer is still reasonably well stocked with joints so no real need for extra just now.

Good to see Skinny's DFW journey mentioned in Martin's weekly email under the 10 Year DFW forum piece too.

TT bill is in so have paid that by debit card to get the 10% speedy discount - £23.61 this month and bill is in for DS and my personal mobile phones, considering it included texts to/from Canaries during our holiday, bill total is £18.63 (usually £15). Not too shabby.

Forgot to update on the toilet seat in my excitement of ERCs and pension contributions :rotfl:. We need a new one Wilko's seem to offer a broad and reasonably priced range so will take a look in there when in town next.

The front bit of garden needs plants now the old rockery has gone, think I might see if any cuttings from Mum's garden can be taken and used. Will save quite a bit compared to buying from the nursery or garden centre

End of ramblings for tonight

liltdiddylilt

Haha to the timescales. Don't believe them every single company I speak to on a daily basis is using the words 'the new rules' as a total cop out for terrible service and lack of people on the phones and everywhere else. I was quoted 7-10 working days by the same company today for similar paperwork so we shall see about yours!!

Am very glad you rang and discussed those contributions again! Sorry! I have honestly never come across anything like it, and we have some clients with OLD Pooh stuff. But in fairness most of them are stopping contributions rather than upping them so although I have read and reread charges until I could see them in my sleep, I don't often see ongoing contributions to the Pooh! Glad you've a Broggers as well!

Nice one on the phone bill Mrs, very good considering! My bosses is usually around the £180 mark for a week long holiday :rotfl:

Hope you're not coming down with something. I have not been able to get warm all week despite many layers and elec blanket etc. It isn't the weather!

Much hugs xx

Ali-OK

I did wonder if lack of personnel to do the work (given the poor phone answering length) was a contributing factor to the Pooh timescales..shall update when it arrives.

To be fair to you Lilt, it's a bit mis-leading of Pooh to use the phrase 'top up' when it's not really..it's a new 'segment' and would throw out a new bit of policy paperwork with a new number, just kept under the same plan umbrella. I was just impatient to get on with putting more into retirement funds, but it's safely in the ISA for now

The mobile bill was quite a surprise...I had updates on Springer's health, family checking my health and a couple of phone calls too

Feeling toasty tonight - added a fleece top over my jumper and swapped cotton socks for thermal ones :rotfl: Anyone would think it was the middle of winter :rotfl: . Fingers crossed for both of us we haven't got a lergy

liltdiddylilt

Dare I mention voting on your diary today or will the troll pop up again? :eek:

I feel good this morning despite a 5am 'I've been sick' and being at work right now. Hope you are feeling ok lovely. Have a good day xx

in_need_of_direction

Goodness, do you two never stop? I agree with the coldness though. It's this bloody weather. Whatever happened to global warming!