Becoming addicted to collecting coins

Westie983

Thanks for asking about the hip - its very grumpy and causing me problems, Im just hoping I am able to sleep better tomorrow as Im back to work...

enjoy your stomp around town (that sounds wrong but you know what i mean)..

:0)

liltdiddylilt

Break it down. The 2k in Lloyds is earning you 5%. So £6.80ish after tax per month. How much interest is being added to the interest bearing CC per month? If it is more, then yes if it was me I would pay the 2k out to the card. You're right that the card can always be an emergency fund. The bonus of using it like that is it makes you think harder about what constitutes an emergency and how quickly you can pay it off. You have a 52 day grace period with no interest on all purchases.

Not to mention that if you pay it off, the likelihood is that they will start offering you 0% balance deals repeatedly like my MBNA does to me. Continually... even though I have no debt and basically use it once a month to keep it open then have a full DD going out each month paying it off.

I know your mind works differently to mine, because I have never been able to keep money in pots. It seems a waste to me, and dead money that isn't *working* for me if it isn't gaining interest somewhere. If it wasn't in your pots but was earning interest I could get more excited about it, but in terms of debt vs pots... I think it is a no brainer. If you never put another penny into a pot, in 20 years time they would still hold the same amount of coins they do now, and inflation would have worked to make that an even smaller amount of bang for your buck. That is how my mind works anyway. But I work in the side of finances whereby everyone is very well off, and using clever investing to continue that onwards... xxx

Westie983

liltdiddylilt wrote: »

Break it down. The 2k in Lloyds is earning you 5%. So £6.80ish after tax per month. How much interest is being added to the interest bearing CC per month? If it is more, then yes if it was me I would pay the 2k out to the card. You're right that the card can always be an emergency fund. The bonus of using it like that is it makes you think harder about what constitutes an emergency and how quickly you can pay it off. You have a 52 day grace period with no interest on all purchases.

The estimate interest on my credit card next month if I dont pay it off is £16.84, I get £9.10 from TSB,

Not to mention that if you pay it off, the likelihood is that they will start offering you 0% balance deals repeatedly like my MBNA does to me. Continually... even though I have no debt and basically use it once a month to keep it open then have a full DD going out each month paying it off.

Thats very true, although when this card is paid off its unlikely to be used unless I'm on holiday as its a clarity card that doesnt charge, I may also use it for cashback offers as and when they appear, but they are rubbish atm

I know your mind works differently to mine,

Is that because I work in a bank, or because I'm wired differently?

Im using the terramundi pots, as its easier to save this way with coins I dont miss them, then having the money in the bank, but I agree about interest, and once my regular savers mature and I have a bulk ill probably bank it all, after all the savings rates in the banks are poor so not losing out that much, till I get to 20k when i could utilise S@ntander 123 interest as I dont at the moment I just use it for cashback on my DD

Mmmmm, maybe Ill stew on it till after the 1st when all my DD comes out and I get the interest payment, then I suppose ill decide then...

Westie983

My 12k savings pot includes 4 regular savers, which are working for me, and I have TeSBee, and Nationwiddle both earning 5%, I dont qualify for FD account and I have closed/Swtched from MarksSParks, and Clydes, after I got both of the incentives... so although I have coins not earning a penny I have some working for me....

Westie983

Does any of my followers know when you get free listings back on bay of E, I have gone to list some clothes I no longer fit into and its charging me 35p for listing, I obv dont want to pay this...

I have managed to make £60 this week on there, just waiting for the feedback to arrive, I know the items arrived as they are tracked... Im hoping to raise some pennies...

anyone in need of

A towel bundle from MarkSparks
A stand up mixer from Dualit
A Wii with controller and a few standard games
Camera Lens, (not sure where these came from)
Radley Handbag...

Hoping to raise at least £200 selling the lot, fingers crossed, as the towels and the mixer are new and never been used or opened, they seem to go well on bay of E....

just detest the fees they charge and never seem to get any 'hits' when I use FB selling sites, just time wasters who want to haggle....

liltdiddylilt

No idea why it is charging unless you used some of the settings that add 9p here and 6p there... like start times, and starting price etc. I thought it was 20 free listing a month.

As for being wired differently, aren't we all? My brain never ever ever did maths when I was a kid, and look at me now, I work as an accounts manager/finance admin and love it. Go figure because if you had told me when I was a kid I would do this job when I grew up I would have laughed until my sides split. Some people love YNAB, some can't deal with it. Some people like strawberry ice cream and I hate it. We are all different

Westie983

this is very true, although its no surprise that I work in a bank as I used to spend my evenings counting out my pennies from my piggy bank each evening and writing the balance on a yellow posit note and putting the date, it became a ritual and I got ridiculed for it, lol and now I count notes and coins for others....

yes we are all wired differently, the world would be boring if we were all clones of each other,

in regard to bay of E, I may have used up the 20 free listings, so that answers that question as I have a few items that have been relisted a few times... cookbooks,

thanks for that information ...

hummingbird

Ooh this diary has grown like rows and rows of knitting tonight LOL!!! I'll catch up with it tomorrow as my brain can't process the figures tonight!!

Like you say though we all think and do things a bit differently.... good thing we do!!

Westie983

Sweet dreams HB Xx

Westie983

Welcome 4am for the second night - arrrrrgh