Hope is not an Effective Financial Strategy 13 March 2015 at 1:18PM edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe 4.1K replies 339.8K views

cookie9

The M+S regular saver used to pay a reasonable amount. Not sure what is it now as mine has matured but may be worth a look. Good luck with the decorating.

debtfreeoneday

Bearing in mind you will spend time on your rear end - you would want to be comfy, so I reckon a little over budget is right!

mrsp1987

debtfreeoneday wrote: »

Bearing in mind you will spend time on your rear end - you would want to be comfy, so I reckon a little over budget is right!

I had to go back a few posts for this to make sense. Glad I did. :rotfl:

chumpy45

I have just been looking at the Tesco current account. It seems there is not minimum payment each month and no require for DDs to be set up. Could I just therefore use it as a savings account and take advantage of the 3% or am I missing something. Hope you don't mind me hijacking your thread, but you are the acknowledged banking expert!!

Goldiegirl

Hope Jimmy doesn't mind me answering, but basically yes, the Tesco current account can indeed be used as a savings account.

No DD requirement or monthly funding requirement.

shangaijimmy

Correct GG. I have 2 accounts that are used purely as savings.

Been a very busy couple of days at work so not been able to go on MFW at all. Planning an early to bed evening and some catch up reading later...

Just 2 days till accounts posting which is exciting, and i need to do some money shuffling to make sure i get all the relevant bits of interest on the various current accounts. Still not had chance to look at car insurance(s), but planning on tackling that on Friday afternoon in work!

You may rememebr the assignment...well submission is tomorrow and i can proudly say i've still not finished it but only have 300-400 words left, plus a bit if proof reading! Trouble is submission is tomorrow will wil only trigger assignment number 2!#

Last thing is my small change jar is looking rather full so i need to cash in and OP it tomorrow and am hoping for £10.

debtfreeoneday

Well done on completing the assignment (Nearly)!

shangaijimmy

Thanks debt free. Assignment duly completed and sent, 50% is a pass so here's hoping...

I OP'd £5 jar. There's a few more in there so I'll get another £5 from it next month. Accounts day today, woo hoo. School run, dog walk then accounts....

shangaijimmy

Another good month for us. Slightly behind the ambitious target of £600 OP per month, but more than ahead of yearly schedule after some very good months. So here goes:

Monthly Figures

• Balance - £118,773.74
• OP's - £574.68
• Daily Interest - £6.48
• Net Reduction - £1,086.93
• LTV - 53.74%
• % Loan Remaining - 87.33%

Diary Averages

• Ave OP's - £602.67
• Ave Net Reduction - £1,076.64

As ever thank you to everyone's support. June has been a tough month motivation wise!

hiddenshadow

Still above the average net reduction amount. Well done!