Dreaming of a new life in Norfolk.

greent

norfolkdream wrote: »

My MF plans are to do the house up (much needed!!) new kitchen, bathroom and redecorate every room. The hallway hasnt been done for 15 years!
I will need a new mortgage just for that lot! Probably about 18 months of saving for all that.
Then just save save save for my forever home wherever that may be

lol - that's just what we're doing - new boiler, new windows & doors, re-doing the kitchen - and some general decorating and house maintenance


xx

norfolkdream

expensive stuff eh? Yeah I'll need a new boiler and relocating it to a different room altogether.

norfolkdream

Can someone tell me a dummys guide to premium bonds? Ive just read someones diary that they have started and may be interested.

Do you invest £100 min a month or one off payment?
I take it you dont earn interest on it but just the chance to win some money from it?
You are just saving but you can get the money back at any time?
Is it just NSandI that do it?
Are there different types?
I know its a gamble but is it worth it? Or is that a daft question like winning the lottery!

gallygirl

norfolkdream wrote: »

Can someone tell me a dummys guide to premium bonds? Ive just read someones diary that they have started and may be interested.

Do you invest £100 min a month or one off payment?
I take it you dont earn interest on it but just the chance to win some money from it?
You are just saving but you can get the money back at any time?
Is it just NSandI that do it?
Are there different types?
I know its a gamble but is it worth it? Or is that a daft question like winning the lottery!

We do lump sums now and then. Yup, no interest but average winnings are around the same as savings rates. You can get money back in a few days, biggest drawback us when you buy them you have to hold for 2 whole calendar months before they go in the draw. Just NS&I do them, not different types but you can only invest in units of £100 - however if you elect for winnings to reinvested you can invest £25 or £50 if that's what you win.

greent

GG's summed it all up nicely there


We've used them to put money in for expected tax bills - money is safe, easy to get hold of and there's always the possibility of winning big. The money is also out of sight, so has never been taken as 'our' money by us, as it's effectively been HMRC's! We've only ever won £25 prizes - but enough of them to compete with savings rates

norfolkdream

Oh thanks very much GG an greent

Seanymph

I think it was me, then o c c took it up. I find it is sort of one removed, so I leave it alone, it is an emergency fund, you can have up to forty thousand, only invest over one hundred, and you can manage it online.

I am saving for a camper van.

I have won four times twenty five pounds this year, and started with about four hundred and am now at two thousand six hundred and fifty.

Clarey008

Thanks for all the tips ND, now I think about it, my idea of frugal is probably not the same as yours. So time to have a good hard look at my expenditure! However I can see your point about obsessing, as I get like that at times and it is hard to get the balance right between quality of life now and the thought of how much easier things would be with a paid off mortgage.

norfolkdream

Seanymph wrote: »

I think it was me, then o c c took it up. I find it is sort of one removed, so I leave it alone, it is an emergency fund, you can have up to forty thousand, only invest over one hundred, and you can manage it online.

I am saving for a camper van.

I have won four times twenty five pounds this year, and started with about four hundred and am now at two thousand six hundred and fifty.

Yes it was you. Thats good going Sea, I would love a camper van too, every time I see an old VW I sigh but I did see your link to that fabulous one, it looked amazing. I think I could probably put £100 every qtr, that wouldnt hurt the bank balance I dont think. Knowing my luck I wouldnt win a damn thing! I take it you just reinvest your winnings? It would be silly not to I suppose. Thanks for the idea.

Clarey008 wrote: »

Thanks for all the tips ND, now I think about it, my idea of frugal is probably not the same as yours. So time to have a good hard look at my expenditure! However I can see your point about obsessing, as I get like that at times and it is hard to get the balance right between quality of life now and the thought of how much easier things would be with a paid off mortgage.

I am definitely not as frugal as I once was. Now I am close to the end I have relaxed a bit. Today me and DD went for a lovely latte and hot choc at a new coffee shop. I have to say it might be a regular little treat as it was nice to sit and relax and chat in lovely surroundings. In a couple of years she will be 18 and off with her mates or at uni no doubt.

Have found a lovely present for DD an amaz and have just redeemed £10 from pineC and have £10 voucher from amaz GC offer, thought I would get £10 off ValOp too but theres is £15 grr and I have £10.80 there now. Not sure if I will get another £4 this week or whether to just go ahead and order it.
Am panicking now as I have usually got most of their pressies already and I only just started today As they are mid teens it is really hard to buy for them. Everything is so expensive for what they would like.

ourcornercottage

Going back to the PBs I've just signed up and invested £100. Mine too is a way of saving up and making it not as easy to get to as cash savings and no risk.

I'm pretty sure I read that after the initial £100 you can invest a min of £50 per month by standing order. that is what I will be doing as £100 Is too much for me at the moment.