Hope is not an Effective Financial Strategy

edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe
4.2K replies 345.8K views


  • themadvixthemadvix Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Nothing for me either… SL, I suspect it’s just the sheer amount of cash being put in them currently - it’s the only place to go, but it does dilute the chances of winning somewhat.
  • badmemorybadmemory Forumite
    4.4K Posts
    Fifth Anniversary 1,000 Posts Name Dropper
    In theory it isn't supposed to dilute the chances of winning.  They are supposed to give 1% in winnings at present, which is going down but then all interest rates are.  That should mean that a twelfth of 1% of their holdings should go in prizes each month.  So far in the last 5 months I'm on 0.34% so I'm happy with that.  Mind you the £2 that I have had for 64 years has won nothing.
  • Cheery_DaffCheery_Daff Forumite
    11.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Ooh, how lovely to have a best pal who can fix your pesky plumbing issues! You don't live anywhere near me do you? 😂 We have yet to find a plumber who'll come out here and are just learning to live with all kinds of plumbing quirks 🙄 Maybe I'll try again now we're not in peak freezing-old-ladies time 🙄

    Good plans for both house stuff and holidays there!
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    I am very lucky with my plumber friend, and alongside the plumber he then knows someone for every trade for me!

    Well this week has been a week of conferences and online meetings! I am definitely zoomed out now. Looking forward to Mrs SJ's homemade curry and a few cold beers later. As for the weekend ahead, I am in work for a few hours tomorrow morning and then am determined to attack the junk in the garage! If we have nowhere to keep it without the garage...then its going! There I've said it now  :)
    MFW: Was: £136,000.......Now: £66,808.05......
    Mortgage Neutral Deficit: £50,537.43... Mortgage Neutral Savings: £16,270.62
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £566.30 of £705
  • bubblycrazybubblycrazy Forumite
    281 Posts
    Part of the Furniture 100 Posts Name Dropper Photogenic
    If we have nowhere to keep it without the garage...then its going! There I've said it now  :)
    Ooh that's a good way of looking at it, I may have to try this trick when decluttering :smile: 
    MFW - Original balance 28/08/2014 £52850
    Original MF date: 2049:eek: Aiming for: 2025 Current MFD: 2030
    Balance 27/07/2016 £49990
    Balance 08/07/2017 £47999
    Balance 30/07/2018 £44500
    Balance 01/08/2019 £40700
    Balance 03/09/2020 £37619
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