Only freedom will do

edinburgher

I think we have 3 of them...

You thinking re. improved mortgage is definitely an innovative one

Pensions might also be an idea, but I'd always keep some sort of emergency cash, can't afford not to with a little one, eh?

mrsp1987

I am paying into my works pension. Considering I'm quite young my aim is to pay off the mortgage and then significantly increase my pension contributions. I also work p/t so if my hours increased so would my pension contributions.
I really want to get out of my mortgage though. But I'm just not prepared to use just shy of £5K of our capital on the ERC - and hubby would kill me.

edinburgher

I think about my mortgage the other way round, plan on keeping it until I retire. Plan would be to get down to 60% LTV then get as cheap a mortgage for as long as possible. This allows much higher pension contributions, which, boosted by gummint money and decades of returns, should do the business.

At retirement we pay it off with PCLS, or sell it if we don't want to stay.

pavlovs_dog

I've just opened 2 Tesco current accounts. Currently paying 3% on balances up to £3k with no requirement to make monthly deposits. You don't have to switch your main account or have any direct debits linked to the account. I plan to use it as a holding pen for funds that will be spent on various projects over the coming months. I'll siphon off the interest for OPs. Another option I'm contemplating is using it to feed a second regular saver with First Direct, which pays 6%.

This approach allows us to lock our other savings (our EF) away for a higher rate of interest.

choccielover

Sorry eds

Vague reference to clintons aides husband who has twice now been caught sexting because he accidentally posted things publicly that were meant for private eyes only, rather unfortunately his surname is Weiner
It's a big news story in the US currently......(*must stop referring to obscure US news stories )

chumpy45

I too have just opened a Tesco c/a paying 3%. Every day now I squint with one eye at the news expecting to see another cut !!

AlexLK

Thanks for the clarification, Ed.

I try not to belittle anybody and try to stop myself from being judgemental. As far as that article was concerned, I felt more judgemental about the poor and misleading journalism (way the audience was manipulated by the income figures and 'class') than the people interviewed.

Re. savings. It's an absolute joke, to be honest. I truly believe this has happened because it's beneficial to the government and also the belief easy access to affordable credit alone will boost the economy. A few weeks ago I had a letter from my bank stating credit balances will be charged for if we go into a negative interest situation. This was for business accounts and we got nothing from them about our personal accounts.

Thanks for the info on the Tesco account. I'm sure someone has told me about this before but I thought it needed to have direct debits going out. Could my wife and I technically open an account each and put £3,000 in each?

This is totally off topic but didn't you used to keep fish? The only reason I ask is because my son is keen and we've been looking at potentially having an aquarium.

Apologies for the writing on here tonight. Concentration is somewhat low and it's been a busy day.

pavlovs_dog

AlexLK wrote: »

Thanks for the info on the Tesco account. I'm sure someone has told me about this before but I thought it needed to have direct debits going out. Could my wife and I technically open an account each and put £3,000 in each?

You can have two accounts but the second must be a joint account (meaning that you could technically have 3 accounts between a couple if you so wish).

The rate isn't fixed and could change. They are cutting the rates of their savings products from October or November. Those who currently hold savings products have been notified in writing and the future rate changes are also clearly listed on their website for the attention of all potential customers. There is no such warning on the CA page so I'm hoping it will hold at 3%.

edinburgher

choccielover wrote: »

Sorry eds

Vague reference to clintons aides husband who has twice now been caught sexting because he accidentally posted things publicly that were meant for private eyes only, rather unfortunately his surname is Weiner
It's a big news story in the US currently......(*must stop referring to obscure US news stories )

Oh - *that* person - now I remember!

AlexLK wrote: »

Re. savings. It's an absolute joke, to be honest. I truly believe this has happened because it's beneficial to the government and also the belief easy access to affordable credit alone will boost the economy. A few weeks ago I had a letter from my bank stating credit balances will be charged for if we go into a negative interest situation. T

This is totally off topic but didn't you used to keep fish? The only reason I ask is because my son is keen and we've been looking at potentially having an aquarium.

Well, a good dose of inflation would be great for the government and the BoE (debt erosion), but it strikes me that they're going entirely the wrong way about encouraging it. Cheap capital is sitting on the sidelines, businesses are hoarding cash (investment is down) and the consumer is all tapped out (as that article showed to some extent). Don't quote me, but I thought -ve interest was a red line for the BoE?

I did use to keep fish, a relaxing and educational hobby as long as you don't get too carried away and buy something massive that's impossible to maintain. I also used to have a part time job working in a fish keeping shop, so very happy to provide some tips on planning, equipment, setup and stocking if you decide to proceed.

In terms of ease of management (easiest to hardest), you'd be looking at: tropical, cold water, marine, with more exotic setups (brackish etc.) sitting between cold water and marine in my opinion.

The main thing to point out (in case it's tied to a birthday etc.) is that it can easily take 40 days to safely prepare an aquarium for fish in a cruelty free manner, so keep this in mind!

edinburgher

:dance: :j I slept all night :j :dance:

Also saw mum and dad last night, which was a lovely change, as we rarely get the opportunity to catch up with them. They were effusive about all my 80% complete DIY, nice to see the progress through someone else once in a while