Giblet's debt free journey

supersaver1000

Double wow to losing 3 stone - I think I might have found at least one of them :rotfl:

killerpeaty

Well done on your weight loss!

Good luck with paying down your mortgage, just make sure you're not working yourself into the ground! We're all behind you 100%!

amycool

It's lovely to hear from you!

It must be difficult to turn work down when you have uncertainty about job security.

Brilliant weight loss!

I hope you get that LTV down and get a much cheaper deal!

giblet1979

Thanks so much all - you're lovely

Job for today is painting - just have to convince myself that it's a good idea to get off here, and out of bed, lol

Happy bank holiday all xx

supersaver1000

Lol, know what you mean. I had to go out at 8 am but was back at 8.30 am and have done nothing but drink coffee, check the finances and go on here. Oh well, here goes now. Let's get on with it and report back tonight x

giblet1979

Okay SS you've convinced me. The fact that I'm really hungry, and the kitchen is nearer the painting will probably help too, lol. Happy working xx

liltdiddylilt

Awwwh I have missed you posting Gib!!

How did the painting go? xx

giblet1979

Hey,
Well we did a bit (which is a bit more than we've done for a while) then came into some difficulty with regards to the wallpapering. So after 3hrs of trying to do that (with help from a friend) we stopped and watched TV instead. Then, having worked every day since (including two jobs on some days) we haven't done any more. To be fair, we're waiting on the help of a friend (who has to help DH paper the ceiling as I'm too short, even on the tallest ladder). ]

The trials of home ownership hey?

Otherwise, it's just been a very busy week or so. Feel like I need a holiday, but can't do anything about that until after an upcoming piece of work, which runs till mid July. Might be able to do the odd day here and there, but that's all. Gotta think of the overpayments.

On that note, I'm really in two minds about whether to open an investment ISA, and split any extra money to OPing my loan and then mortgage, or just put everything to OPing, and open the investments when I'm completely debt free (or certainly nearer the end of the mortgage). My dilemma is, that I know big gains can be made through the time factor of compound interest, but there is security in OPing with no risk (as long as I keep a cash emergency fund).

What do people think? Your wise advice would be most welcome. Obviously, I'm still hoping for a lottery win too

Sending lots of love to all - must go now as I've finished as much work as I can do this morning, and the growling in my stomach is telling me that it's time to go and make the folks's Sunday Roast. Hugs and catch up later xx

killerpeaty

The advice is that you shouldn't invest if you have debt (mortgage debt is debatable, some people can be very strict).

I think it depends on what you want from the S&S ISA, would you want to go for funds or single stocks? WHat would be your timeframe for the growth/income? What would you concentrate on, growth or income?

Now if your mortgage is on a low interest rate and it is affordable, the growth of your investments could outdo your mortgage. But then again, it might not.

Personally, I have an S&S ISA with one fund (a global one to instantly diversify) which in the last 3 weeks has lost £150-200 (depending on when you measure it from) but overall has gain £400 in approximately a year (just under 10%). But my timeline is 30 years minimum, less than 5 you would be advised that investing is not really your best option, 10 and you're probably going to get more positive recommendations.

Why don't you pop over the savings and investments forum and ask? They're not as friendly as over here but very knowledgeable.

supersaver1000

Hi Gib, we have a largish safety fund in our 123 account earning 3%. I know that our CCs are 6% so we are making a loss, but there is advice out there about keepin cash available just in case. X