The Road to Financial Security

Pushkin

Oh one last thing - I joined £co recently & used it buy an experience thing for present -anyway had an email today confirming just over £4 cash back for it - again these small amounts make me ridiculously happy! :beer:

FacelessNumber

I use TopCashBack but they are awesome aren't they! I think some people use both and compare between the two.

Pushkin

FacelessNumber wrote: »

I use TopCashBack but they are awesome aren't they! I think some people use both and compare between the two.

Hi FN, I have just joined TCB as well but am now thinking I'm over complicating it and will drive myself mad doing comparisons between them!

I also am not sure they are always the best way to spend money although it could be my lack of experience. Was booking a hotel yesterday and saw you could get 10% back using cash back site but the total cost was more than booking direct on bookings.com, I worked out that still saved a few pounds so went ahead to do it only to find that there was a £10 cost if you wanted to use a credit card which meant there was no saving using a cash back site - it actually cost more!

Would always book something like that on a credit card - we don't go til Dec and if we end up not being able to make it then we don't lose the money - not to mention I'd rather not pay out for a few months!

Not sure if I'm missing a trick but I felt I spent a lot of time researching it all only to end up just booking it direct.

Pushkin

Finally got round to the house work this morning and feel better for having a house that has some semblance of being clean and tidy :T

I felt guilty about the £62 impulse buy at 1kea yesterday so transferred £70 to the household savings account. Thought this was a natty idea and it made me feel better.

I'm not sure how best to structure finances, I probably have too many accounts but I like things split out:

Current account for salary & bill payment
Savings account for up coming expenses (next biggie is son's school trip to US - we didn't have trips like that when I was at school!)
Savings account (new) for things I sell & cash back so I can watch it grow
Savings account for the dog - we've just uninsured her as it was getting expensive due to her age. Set this up so I feel we are covered as she gets older.
Cash ISA - 3 year one set up last year which is full and won't be touched for another 2 yrs
Cash ISA this year which is really quite empty although do transfer £300 a month in there
Bonus savings - this has the capital amount we were using to move but will not spend on our house improvements

Thats quite a lot isn't it? Although now I'm thinking about getting another one to save for a holiday next year.

Maybe I just like to over complicate things??!!

gallygirl

Rather than open another account why not set up a spreadsheet and run each pot separately within one savings account (excluding ISA's)? So doggie 'account' will hopefully increase over time, cash back/selling 'account' should also increase, son's trip 'account' will grow then reduce. If you're keeping track of them all anyway you may as well do on one spreadsheet. The beauty of this is that if you haven't quite got enough for son's trip you can go 'overdrawn' then pay it back over the next few months.

I run 11 pots from one account this way - everything from house insurance, Xmas, holidays, dentist, car repairs etc. It's great at evening out expenditure and if there's a balance at the end of any pot at the end of the year you can take out and move to ISA/overpay it etc :T (or use it to clear the 'overdraft' on the clothing account :whistle: )

Pushkin

Gally you are so savvy - I might give it a go, I am resisting the temptation to open more accounts as I know I'll get muddled. I do ok in the main with the budgeting but find it amazingly complex considering how little money we really have! I tell myself it would be even worse if we were rich!

Iam a little miffed right now, just applied for a Halifax credit card on advice of MSE it's the best one for spending abroad. Filled in all my details and it chugged for min and then bounced back with a message 'we have considered your application carefully but regret to inform you it is declined'.

No idea why - I know my credit rating is tip top and I just double checked noddle to make sure. Daren't apply for another one from the mse recommended list as I don't want to get black marks against my name. I already have a mastercard so I guess I'll stick with that - very rarely use it abroad but we are going to be staying in a foreign hotel and I wanted to pay the bill without the crazy exchange fees.

Just been through salad tray of fridge and thrown away all the rotting salad and veggies. This sadly happens all too often - I seem to think just buying healthy food will mean we'll eat it. Need to really reduce the amount of waste. I did just make a courgette and bacon tart so the courgettes didn't have the same fate as the strawberries, lettuce & mushrooms!

gallygirl

Pushkin wrote: »

Gally you are so savvy

Yes I am. When Tilly tells me how to organise my money I do it :rotfl:.

I seem to think just buying healthy food will mean we'll eat it.

Ah yes, equivalent to the "if I have 'proper' books their contents will, by a process of osmosis, transfer to my psyche without me actually having to read them" .

Pushkin

Hmm lovely weather for a summer bank holiday!

First welly dog walk for a long time, good job we had indoor activities planned.

We have been out looking at sofas, think we've seen ones we want to order from N£xt, saw them in store then took some swatches home to check against the carpet (& dog) and play on their website. On verge of ordering but I can't find any reference to the warranty terms for them. Pretty shabby I think, I won't order until I know and their customer service no is closed now so will be tomorrow at earliest. Although knowing how indecisive I am I may well be having second thoughts by then - other issue is the lead time is 8 weeks - ouch!

My OH has really impressed me today by buying a new suit from M&S £350 reduced to £87:T I think that has to be our best bargain so far - hopefully this MSE bug is rubbing off on him.

CathT

Hi Pushkin, just found your diary. Sorry to hear your house move fell through but it sounds like you are making your home into one you love without the stress of a much bigger mortgage.
Just wanted to wish you good luck.

Seanymph

Not to worry you, but you can't just be 'added to' a mortgage I don't think. You would have to take out another mortgage, and pay off the one your husband has.

to both be on the mortgage you would, I believe, both need to be on the deeds. (i did once get around this many many years ago, but I think they are tighter now).

that's why you need a solicitor - you and your husband will actually be buying the house off your husband as far as the building society is concerned.

If it works - why bother? It will cost you money - presumably you have checked and are on a good interest deal - you may lose it? You may have to pay for redeeming it early?

The only thing I'd make sure is that he has enough life insurance!