All I want to be...is Free!

juststuff123

Thanks SuperSavingsSquirrel! I've just checked, because that can't be right. I made a typo last month so the actual difference is £2500. Still pretty good though...

SuperSecretSquirrel

That's still great progress in one month! Maybe 4.5k this month then :rotfl:

juststuff123

Hello MSE’ers & I hope you had a Happy September. It’s been a busy and stressful month for me.

Sorry Super Saving Squirrel I didn’t manage to hit the £4500 target this month. It was my standard amount – which is good considering I had to spend around £400 on my car this month, MOT, Service, a couple of Tyres, wheel alignment and coolant replacement.

I opened a new monthly saver with TSB last weekend, that brings my total up to 10 currents accounts, 8 savings accounts and an ISA. Yikes!

My work colleague resigned at the beginning of the month, she had been with the company for 26yrs! And I’m really going to miss her. She was supposed to give a month’s notice but with all the holiday she was owed she was gone within 2 weeks. I had barely anytime to get the collection around and write the leaving speech and now I’m busy covering her job as well as mine until we can get a replacement.

I had been given an almost impossible task at work to source a very specific bottle & cap combination with no idea where in the world it was made. I managed to do it and I was really surprised, they said I could have anything I wanted, I had to get them to narrow it down a bit, they said a value of about £100. I really struggled to think of something, I’ve been so focussed on “do I need it or do I want it” And if I want it, I disregard it. That it was a job to come up with something. I asked for an accessorize voucher – I’ve seen a hat I like and I could get a new handbag too. I haven’t received anything yet.

I joined a Gym, the classes aren’t as good as the ones I used to go to but beggars can’t be choosers. I’m only going to do classes though I find the actual gym so boring! I put my name down for an Aerial Hoop showcase but I had to withdraw it, with everything else that’s going on it was too much stress. Next year though – No Excuses! I’ve booked my Circus Skill classes for the festival this weekend, Silks, hoop and Equestrian Vaulting. It should be good fun. I’ll let you know how it goes next month. I’m going to a Charleston Tea party in October, We’ll learn the dance, have tea and cake and make headbands. I bought a flapper dress from eBay and I’m looking forward to it.

I gave blood for the first time earlier this month. It wasn’t as bad as I thought. The worst part was all the water they make you drink first. I was bursting for the Loo!

I arranged tickets for 15 people for UKPPC this year. I managed to get a deal that was £3.70 cheaper per person than I’d planned. So now I owe 15 people some money. Still it should be good fun.
It was my Mum’s birthday last month. Me and my sister organised a dinner party with a Chinese theme. We made way too much food. But everyone seemed very impressed with our cooking. I made egg fried rice, sweet & sour chicken, Chinese ribs and Lychee ice cream all from scratch. And I think Mum was really pleased so it was worth it.

Monthly Update:

MFW & DFW - Goal - to be Debt Neutral by Dec 2018 Feb 2017
To pay: Mortgage -£46251/£66445 (started Feb 2010)
To pay: Parent Loan £5772/£15000 & Student Loan - £2975/£9479
To pay: Credit Cards (Stoozing) - £5240
Savings - £38559
Debt Neutrality - -£21679

See you next month!

Secret_Saving_Squirrel

Good luck on your journey. I admire your energy!

juststuff123

Hello MSE’ers, Welcome to November!

is my October update. It’s been a busy month but it’s a short update.

My Lloyds monthly saver came to fruition this month, so I’ve opened a new one and re-newed my Lloyds Club rewards – I’ve gone for Cinema tickets this time round since last year I picked the gourmet society discount card and didn’t use it once!

I helped a friend with her debt situation, I whipped up a few spreadsheets for her, helped her to start a budget and introduced her to TopCashback. She gives me updates every now and then. I feel quite proud!

I went on a circus skills weekend I did Hoop, Silks and Equestrian Vaulting which was brilliant and scary! I’d love to have another go! I went to a Charleston Tea Party; we had cakes & scones then learnt to do the Charleston. It was a great afternoon - next stop BGT! (maybe not). It was our company do a couple of weeks ago and we had a leaving party for a colleague at a local Indian restaurant, so it’s been a pretty bad month for the waistline all in all.

I’ve done some more xmas shopping this month. I’m almost done now.

See you guys next month.

My updated signature
MFW & DFW - Goal - to be Debt Neutral by Dec 2018 Feb 2017
To pay: Mortgage -£45995/£66445 (started Feb 2010)
To pay: Parent Loan £5624/£15000 & Student Loan - £2874/£9479
To pay: Credit Cards (Stoozing) - £5301
Savings - £39756
Debt Neutrality - -£20039

Luckyinlife

Hello

Can i ask how much did you save per month in the monthly saver as im doing £400 so was wondering what kind of interest it pays out over the year

Amazing savings as well could i ask where you put it all ?

current accounts saveings ect

juststuff123

Hi Luckyinlife,

Tesco Current Account - You can have 2 of these
Full Balance £3000 @ 3% (2.6% @ Basic Tax rate) = £78 per annum X2

TSB Current Account
Full balance £2000 @ 5% (4% @ Basic Tax Rate) = £80 per annum

TSB Monthly Saver
£250 per month @ 5% (4% @ Basic Tax Rate) = £65 per annum

Lloyds Club Current
Full Balance £5000 @ 4% (3.2% @ Basic Tax Rate) = £160 per annum

Lloyds Monthly Saver
£400 per month @ 4% (3.2% @ Basic Tax Rate) = £83 per annum

Nationwide Current Account - Only available for one year
Full balance £2500 @ 5% (4% @ Basic Tax Rate) = £100 per annum

First Direct Monthly Saver
£300 per month @ 6% (4.8% @ Basic Tax Rate) = £93 per annum

Marks & Spencer Monthly Saver
£250 per month @ 6% (4.8% @ Basic Tax Rate) = £78 per annum

HSBC Monthly Saver
£250 per month @ 6% (4.8% @ Basic Tax Rate) = £78 per annum

HSBC ISA - one off 12 month only deal
£25 per month or one off £300 payment = £120 per annum

Santander Current Account
Full Balance £20000 @ 3% (2.6% @ Basic Tax rate) = £520 per annum
Minus £60 per annum account fee.

All of these annual rates will go up from April When they are Tax Free up to the first £1000 of Interest. I don't know how they are going to monitor this yet. See below:

Tesco Current Account - You can have 2 of these
Full Balance £3000 @ 3% = £90 per annum X2

TSB Current Account
Full balance £2000 @ 5% = £100 per annum

TSB Monthly Saver
£250 per month @ 5% = £81 per annum

Lloyds Club Current
Full Balance £5000 @ 4% = £200 per annum

Lloyds Monthly Saver
£400 per month @ 4% = £104 per annum

Nationwide Current Account - Only available for one year
Full balance £2500 @ 5% = £125 per annum

First Direct Monthly Saver
£300 per month @ 6% = £117 per annum

Marks & Spencer Monthly Saver
£250 per month @ 6% = £97.50 per annum

HSBC Monthly Saver
£250 per month @ 6% = £97.50 per annum

HSBC ISA - one off 12 month only deal
£25 per month or one off £300 payment = £120 per annum

Santander Current Account
Full Balance £20000 @ 3% = £600 per annum
Minus £60 per annum account fee.

I hope this helps. PM me if you want me to send you a spreadsheet so you can adjust it for what you want to pay each month.

juststuff123

Hi there MSEers!

I'm a bit late with the November update. I've barely stopped this week!

So what have I been up to? I tried Trapeze for the first time earlier this month - I loved it! Darn... Now I'm going to have to find somewhere to do it regularly! I started a new Aerial Hoop course, it's really good but very hard.

I had a day trip to Bath to see a friend. It's a beautiful city, I can highly recommend a visit. I got back from Paris yesterday, I was there for work, but had a little free time so I got to go up the Eiffel Tower & visit the Sacre Coeur. I went to a Food Ingredients exhibition there wasn't much relevant to me so I spent most of the day seeing how many free samples I could get my hands on!

I got a new hair cut, I'm not too keen on it, but it should grow out and hopefully the colour (very yellow blond) will calm down.

One of my regular savers came to an end this month, I got about £90. I cleared it into another savings account and started a new regular saver.

All my Christmas shopping has been done; wrapped & labelled. I have a shed load of parties throughout December, I'm dreading the scales come January!

Anyway, I think that's everything for November, Speak to you all at the end of December. Merry Christmas!

As always; my updated signature:

MFW & DFW - Goal - to be Debt Neutral by Dec 2018 Feb 2017
To pay: Mortgage -£45740/£66445 (started Feb 2010)
To pay: Parent Loan £5476/£15000 & Student Loan - £2774/£9479
To pay: Credit Cards (Stoozing) - £5588
Savings - £40214
Debt Neutrality - -£19365

jeanangeo

Hi juststuff123,


I have to say I find this all amazing.


At the moment my mortgage interest rate is rubbish so I am currently better off overpaying.


However, I had planned to set something like this up for when I re-mortgaged....


This is the most extreme I have seen so far....


I would be very interested to learn how you set that lot up and how you are managing the timings of the transfers? Also, did your credit score take a hit after opening all those accounts....?


I was trying to decide what to do with my money once I had finished overpaying if standard savings rates were still low...


If I understand this correctly, by doing this you beat the awful standard savings rates, retain easy access and achieve a return that is comparable to high yield dividends without any of the risk...?

juststuff123

Ok, I’ll try to break it down.

1st Absolutely essential – The Spreadsheet, I would be a complete mess without it!

Spreadsheet Book 1: Updated Daily

My daily purchasing. I sit down once a year and plan my budget for the following year (it’s always easier the second time all you have to do is make tweaks). I split each pot in to 12 equal chunks – one for each month. (A different sheet in the spreadsheet for each month) Then every time I spend any money i.e. 10p for a packet of biscuits of £300 on insurance I note down the cost on the spreadsheet next to its allocated pot. Some months I go over, others I stay under, by the end of the year it should balance out. – I aim to be under!

Spreadsheet Book 2: Updated Monthly

I have a sheet in this spreadsheet book for each debt. I track them all by month, interest accruing, and any payments, for me that’s my mortgage, credit card, student loan and parental loan. At the end of each month I fill in the section on the spreadsheet to show what payments I’ve made. (I set up the sheets to automatically calculate Interest so at least I have a guide. When I get more accurate figures I put them in.

I also have a page in each book to track my savings. These are identical to the debt sheets. Each account has its’ own page (or I combine them when the interest rate is the same) for me that’s TSB x3 (2 Current & 1 reg saver), Lloyds x 2 (current & regular saver), 1st Direct (Reg saver & an empty current account [needed to get the saver]) M&S, (Reg saver & an empty current account [needed to get the saver]) Santander (My main current account), HSBC, Empty current account, Reg saver and a £300 ISA that will get me £120 (for one year only), 2X Tesco Current accounts. I have a few shares in funds that I also monitor monthly. I track my pension once a month as well as my Gas, Water & Electricity. (Just for luck really)

I have a sheet in this book that takes the information from the other sheets and creates a snap shot each month of all the debt I owe, all the savings I have & a final balance so I can see exactly where I stand now, where I was in the past and can input predicted information to see how long it will take to reach my goal.

Setting up & maintain all the different accounts:

I have standing orders set up with HSBC, 1st Direct and M&S to send out on the 25th of each month the minimum amount the accounts require as part of their terms and conditions, for example £1750 to HSBC plus any money I want to end up in the regular saver accounts. I have standing orders to return that money on the 28th of the month. With all these accounts – they are a bit funny about taking money on the weekend, so I make sure there is plenty of time for them to take the money and return it within the month.

I have Standing orders set up with TSB, Lloyds & Tesco accounts to send out on the 28th the minimum amount the accounts require as part of their terms and conditions, for example £750 for each of the Tesco accounts plus any extra money I want to end up in any of their regular savers. I have that standing orders set up to return the money that day.

I use Santander as my base account. I have my wages paid in on the 28th of each month. I built up a bit of a buffer in there, ideally a minimum of £7000 (not including the wage influx) At the moment my savings accounts suck up more than I can save in a month – Hence the need for a buffer in my main account, it also ensures I have enough to cover all the standing orders when they leave my account.

Credit Score

As regards to affecting my credit rating. I’m not sure, I had some problems with my last credit card but they were easily resolved. I use the noodle report and it doesn’t show any great deviation through the years as I have set all these up. I applied for a new credit card (0%) earlier this month and was accepted no trouble with a very nice credit limit.

Rates & Access

I do beat the usual awful savings rates, but not all of it is easy access. The regular savers are tied up for a year at a time.

I hope this helps!