Forum Home» Mortgage-Free Wannabe

Hope is not an Effective Financial Strategy - Page 161

New Post Advanced Search

Hope is not an Effective Financial Strategy

edited 3 March at 8:18PM in Mortgage-Free Wannabe
3.8K replies 314.9K views
1158159161163164382

Replies

  • shangaijimmyshangaijimmy Forumite
    3.5K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    I love that cash till sound on my phone when there's an eBay bid!

    I've TT'd £1 this morning but looking at our account we're not so healthy. We're waiting on Mrs SJ cash return for 3 osteopath sessions which is £135, only its not so easy to reclaim the cash when she's off on maternity. Added to that our automatic payment date for child benefit has moved back to 22nd since we added baby SJ on, and that's an additional £137 that we get at the end of the month rather than the beginning...

    On a positive note today triggeres my 60 day Gas & leccy switch without penalty. So I'll get onto that and look forward to the £30 cash back. Naturally I'll use the energy saving club and after a quick look we should knock £10 or so off our monthly payment.
    MFW: Was: £136,000.......Now: £73,674.67......Reduction: £62,326.42... in 5yrs 4mths!
    Mortgage Neutral Target - Feb 2025...£66,409.77 remaining
    MFiT-T5 #8 - £10,313 of £23,100 (44.65%)
  • shangaijimmyshangaijimmy Forumite
    3.5K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Astonishingly First Utility have agreed to refund my £103.41 credit!! So going to hang on a few days to receive it before I action my switch! Naturally the £103.41 will be going straight to the mortgage as there's no better place for it to rest!
    MFW: Was: £136,000.......Now: £73,674.67......Reduction: £62,326.42... in 5yrs 4mths!
    Mortgage Neutral Target - Feb 2025...£66,409.77 remaining
    MFiT-T5 #8 - £10,313 of £23,100 (44.65%)
  • kirtsypooskirtsypoos Forumite
    3.8K posts
    Ninth Anniversary 1,000 Posts Combo Breaker Cashback Cashier
    ✭✭✭✭
    Well done on your FU success SJ, if I ever decide to go with them again I'll be sure to request my credit before the switch :)
    :j PAID VERY, Barclaycard x3, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID :j LBM 24/07/15 - Original Debt: £0/31010.23 (100% paid) :eek:
    Mortgage - £151.316.54 :eek:
  • shangaijimmyshangaijimmy Forumite
    3.5K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    I'm still anxious until the cash arrives!
    MFW: Was: £136,000.......Now: £73,674.67......Reduction: £62,326.42... in 5yrs 4mths!
    Mortgage Neutral Target - Feb 2025...£66,409.77 remaining
    MFiT-T5 #8 - £10,313 of £23,100 (44.65%)
  • Ali-OKAli-OK Forumite
    4.1K posts
    Part of the Furniture Debt-free and Proud!
    ✭✭✭✭
    Brill news on FU response and the amount.

    I had my standard bill online with no mention of leaving etc, but a letter in the post acknowledging I was and DD now variable to tie the account up - looks like I owe them @ £6. Watching bank account like a hawk to see what they take!
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • shangaijimmyshangaijimmy Forumite
    3.5K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Might be worth cancelling the DD and paying manually over the phone by card.

    I had a quick look at utilities switch, and we have several options at virtually the same fixed DD amount. So I may go for a green company!! £1 TT'd this morning, account looking terrible but we have Mrs SJ claim going in today and they usually pay within 2 days so hoping to have a cheque by Saturday or Monday. In the meantime we have some euros that need changing back so we do have a bit of cash.
    MFW: Was: £136,000.......Now: £73,674.67......Reduction: £62,326.42... in 5yrs 4mths!
    Mortgage Neutral Target - Feb 2025...£66,409.77 remaining
    MFiT-T5 #8 - £10,313 of £23,100 (44.65%)
  • turtlemooseturtlemoose Forumite
    1.6K posts
    I pay a small amount more over the year (under £30 a year for us) to Ovo in order to have 100% renewable electricity. My conscience overrules my MSE head in this instance :)
  • mrsp1987mrsp1987 Forumite
    815 posts
    Fourth Anniversary 500 Posts Wedding Day Wonder Cashback Cashier
    ✭✭✭
    I pay a small amount more over the year (under £30 a year for us) to Ovo in order to have 100% renewable electricity. My conscience overrules my MSE head in this instance :)

    Wow, I didn't know you could do that. I knew some companies had green tariffs but I thought they were from the smaller companies or from the green companies
  • edinburgheredinburgher Forumite
    11.9K posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    I was a staunch defender of green tariffs and was a Good Energy customer for several years. I've read a lot more since then and while I don't disagree with the principle, there are easier ways to reduce your footprint closer to home that will save you money and have a greater impact.

    I think that the case for the economic benefits of renewable energy has definitely been 'made' globally and I fully expect their use to increase dramatically over the next few decades (regardless of what the UK government decides to do!) As a result, I no longer feel that there is as much of a case to be made for subsidising the development of renewables through green tariffs.

    In order of preference, my suggestions would be:
    • Use less power
    • Generate your own power
    • Invest directly in renewable energy, through community energy schemes or similar

    That said, there's a good chance that any green evangelists out there are already doing all 3 of those, already!
  • mrsp1987mrsp1987 Forumite
    815 posts
    Fourth Anniversary 500 Posts Wedding Day Wonder Cashback Cashier
    ✭✭✭
    We have solar panels on the back of the house. Whenever the sun is out we try and do a load of laundry or put the dishwasher on or something. Least that way we know we're definitely not spending anything.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support