Hope is not an Effective Financial Strategy

hiddenshadow

shangaijimmy wrote: »

A measly 2p TT'd this morning, not impressed!!

Still 2p better off than you were.

I'm glad I don't do TTs, or times like that I'd be tempted to buy something else just to have a bigger tidy to make, completely defeating the point! Know I used to do that with my bank's "keep the change" type program.

[Deleted User]

shangaijimmy wrote: »

Lynn it is because they increased the fee to £5 per month which virtually wipes out my gains. At this stage I haven't got 20k of savings to capitalise on the interest. I'm not ruling out the account again in the future, I just figured I could use it for a nice post Christmas switching bonus!

Hi Shangaijimmy,

Feel kind of bad recommending this account a wee while back as just after they hiked the fees... :-/

Not sure what to do with it yet as my cash-back does not reach £5pm. With no benefits other than the interest it is hard to justify as there are many other 5% interest paying accounts with no fee. In the meantime just cancelled the Santander 123 credit card which was getting to the end of it's first fee free year. With the fee being £36pa the cashback is not worth it so just reverted to my fee free Barclaycard that gives me 1% CB.

On another note HSBC said we could pay in 10% of our mortgage balance in addition to the usual 20% monthly overpayment so that's ~£11600 paid in bring the mortgage to a whisker above £100,000

Happy days!

Cheers

Colin

shangaijimmy

A whisker above 5 digits, what a great place to be in! I'll be 2 years before that stage!

£118 duly credited from cheque deposit with £50 whisked over to mortgage for a lovely early Christmas present. 5 sleeps before accounts posting and an early forecast puts me at £601!

[Deleted User]

shangaijimmy wrote: »

A whisker above 5 digits, what a great place to be in! I'll be 2 years before that stage!

£118 duly credited from cheque deposit with £50 whisked over to mortgage for a lovely early Christmas present. 5 sleeps before accounts posting and an early forecast puts me at £601!

Yeah I estimate I'll be £62 above £100,000 after Dec salary

I had originally hoped we'd be in the £99,xxxs by the end of the year but far from the end of the world

Anyway, nearly home time

Cheers

shangaijimmy

A lovely start to the New Year with a belated gift of hitting the 99's in January though!

debtfreeoneday

Looking good for this month SJ!

shangaijimmy

It is debtfree. We've got some cashback expected for December as well and i'm optimistic of the big month not affecting our OP plan either. I honestly am astounded looking at my spreadsheet for how well we've done this year. To be £500 ahead of the 'dream' goal at the end of the year just shows what you can achieve if you really stay disciplined. Definitely having a diary has been a major part of it.

It's really set us up and motivated us for the big challenge!

[Deleted User]

shangaijimmy wrote: »

It is debtfree. We've got some cashback expected for December as well and i'm optimistic of the big month not affecting our OP plan either. I honestly am astounded looking at my spreadsheet for how well we've done this year. To be £500 ahead of the 'dream' goal at the end of the year just shows what you can achieve if you really stay disciplined. Definitely having a diary has been a major part of it.

It's really set us up and motivated us for the big challenge!

Just looked at you sig... Gosh your mort aint half coming down quick! Tis dropping like a stone!

Cheers

Colin

shangaijimmy

Jeep - it is at the minute. Average net reduction for the last 9 months (including forcasted November) is £1006.12, so its going really well. If we can keep that going for another few years the snowballing will really take effect.

shangaijimmy

well last weekend we decided on and ordered a kids kindle for our 6yr old for Christmas. In true MSE fashion i've just cancelled the order (it wasn't due in stock until 5th Dec) and reordered for a Black Friday £30 saving! So maybe i actually do do shopping!