The Alternative Millionaire

lessonlearned

In 1976 I was in a relationship with someone who said he didn't want the responsibility of a mortgage. So I thought fair enough I will just go ahead anyway.

It's a good job I did, because 3 years later I sold that house for more than double what I had paid for it. I had renovated it but the price differential was also down to a general rise in house prices across the board. If I had waited I doubt that I could have bought a house just on my salary.

PS I married someone else in the end and lived happily ever after.:rotfl:

gothrockchic1

Good Afternoon, this weekend has consisted of buying stuff for the flat. We took a trip to Poundstretchers yesterday. Today has been spent cataloging eveything in the cupboards, lets just say we have a lot of pasta. I've been meal planning and have done a food shop online.

We are slowly unpacking boxes but I have come to a point where all of my boxes are buried under OH's. :rotfl:

I am getting there with OH but have my own money and we will start saving this payday coming, OH just needs to sort his own Savings Account. After paying his debts back and becoming debt free he finally has some savings and he is using the Joint Savings, so he needs to get his own before we start on our House savings.

Swampy3k

Interesting thread found it while surfing on the nightshift. I have subscribed due to being a fellow millionaire dreamer (with the OH), How is it you plan to do it specifically? I'm hedging my bets on property when I sort out this debt blip gads. if it wasn't for assets i'd feel gubbed Hope all went well with the move!

gothrockchic1

Davie-G wrote: »

Interesting thread found it while surfing on the nightshift. I have subscribed due to being a fellow millionaire dreamer (with the OH), How is it you plan to do it specifically? I'm hedging my bets on property when I sort out this debt blip gads. if it wasn't for assets i'd feel gubbed Hope all went well with the move!

Hi Davie, thanks for stopping by. I have a seven year plan (subject to change). This year the plan is to save hard and save for a deposit on a flat.

At the moment I have a task to get my OH on board, it's not going to happen overnight but hopefully once we start saving he will see the benefits.

gothrockchic1

Hi everyone! Happy October! This quote inspired me (taken by the NSD challenge)

"Poor planning makes for P*** poor performance"

So here is the plan for October.

Have 12 NSD's - First one today!
List 20 items on Ebay
Make an appointment with the Bnak about savings
Join a gym
Finish two books
Read Martins booklet about buying property
Learn how to use the Slow Cooker
Use up 5 products
Unpack the remaining boxes and clothes.
Book a Contact Lens check.

On a plus note the Flat savings have started. :j

gothrockchic1

The October Challenge is going well four days, I have a Contact Lens Check booked for today, four boxes have been dismantled and have had two NSD's :j

Tackling the Ebay box is next.....:eek:

gothrockchic1

Good Morning everyone, I popped into the bank yesterday and upgraded my NISA, my old one was sitting at 0.25% :eek: after upgrading it my rate is now at 1.25%.

But something tells me that I shouldn't be happy with that rate. It is a better rate than what I was on but a Fixed Rate for a year earns 1.55%.

So I am thinking about putting emergency money into a Easy Access saver and the rest into a Fixed Rate NISA, I will sleep on this as I am not sure if this is the right choice.

Wizzbang

How much do you earn? (rhetorical question), you can research this....but there are lots of bank accounts out there that pay a nice rate of interest. It's usually only on a certain amount, but I think Lloyds- Club Lloyds account is up to £4-5K. Santander's 123 is also good, but they both have fees of around £5 a month, so you need to be sure the interest will outweigh the charge. Lloyds fee is waived if you pay £1500 in a month.

Anyway, I find it's a better place to keep the cash I need ready (liquid). I think you'll find it will be a better rate than any easy access saver.

Unfortunately interest rates are absolute crap currently, they should improve slightly over the next year, as the Government have promised to put up rates slightly.

gothrockchic1

Thanks Wizzbang, sadly I can't put that much in a month, I am close though

I think I will sleep on it as I am getting confused :cool:

Wizzbang

gothrockchic1 wrote: »

Thanks Wizzbang, sadly I can't put that much in a month, I am close though

I think I will sleep on it as I am getting confused :cool:

Can you juggle money between accounts? We don't always make that much either, but if you can push some between accounts it still counts.