Future plans for saving money?

crana999

Just to clarify - you don't need to have pre-existing debts to start stoozing, but you need to acquire debt (usually on 0% credit cards) in order to stooze.

So you need to have debts to stooze in a sense, but you can start stoozing if you don't have any debts at the moment. (It's usually better not to have any pre-existing debts, in fact)

Pal

If you are disciplined enough, get a credit card with a 0% offer on spending for 6-9 months, then put all your shopping and spending on it while saving the money that you would have used to pay it off. This creates a much larger balance to earn interest on. Then keep switching to 0% balance transfer cards for as long as possible until you are forced to pay it off (by being refused or getting bored, like I did).

I thought this board was about money saving "old-style", but given that this thread was started by the board guide, I guess it must fit in here somehow.

Big_Nige

Pal wrote:

If you are disciplined enough, get a credit card with a 0% offer on spending for 6-9 months, then put all your shopping and spending on it while saving the money that you would have used to pay it off. This creates a much larger balance to earn interest on. Then keep switching to 0% balance transfer cards for as long as possible until you are forced to pay it off (by being refused or getting bored, like I did).

I thought this board was about money saving "old-style", but given that this thread was started by the board guide, I guess it must fit in here somehow.

My OH is currently doing this on Sainsburys 0% FOR 1 year on purchases, with the money in Cahoot at 5.5%. Will do a b.t. in October & I am going to apply for the card if it's available. If not the Capital One 1% cashback card comes out of retirement.

mah_jong

calleyw wrote:

I think any savings we make should go towards paying down the mortgage(we have an offset one) and getting it paid off. And doing the house up. We need to magic up about 4K from somewhere to have a new centreal heating system put in :eek: might have to dip in to our ISA's not happy about that.

The other thing that might help are savings is for me to get off my fat behind and get a job :rolleyes:

I don't think a cash back cc is any good for us. As it would be used for household spending and as we don't spend much more than about 5K a year on household bills including the mortgage. Most of those are on DD we are not going to get much cash back. So does not really seem worth it.

Yours

Calley

Thats waht I do... I save all year in an ISA then send a capital repayment to the building society..... whilst paying the original amount of mortgage,,,, then i look at the over paying mortgage calculator and I know how long till I am with out a mortgage!
I also changed my central heating abut three years ago..... its paying its way! Its so much better heat/cost wise.

So ifyour old system is not cost effective i wuld suggest you change it sooner rather than later!