Thank you Squirrel, that's exactly what I wanted to hear actually.
I think part of the issue though may be that I've gone too far towards frugality. When I was a teenager I remember my parents once having a screaming row, really nasty, because mum had spent £1 on some towels from a charity shop. It's never got close to that but I have felt myself get tight-lipped when DH that he bought such and such tiny thing and I don't like it. I see peers going to cafes and their kids wearing cute clothes and it makes me wonder if I'm forgetting to enjoy myself. Then I 'treat' myself to a cafe trip and it costs £15 and toddler won't sit still and preschooler hates what he asked for and we can't chat and I realise what a complete waste of money it all was.
Saying that, we are going to have a holiday this year and quite an exciting one at that. We're going to go camping on the Shetland Islands! Ha ha, not everyone's cup of tea I suppose but I am really drawn to those islands and I'm really looking forward to it. We'll be driving up in our old banger which will need breakdown cover (it certainly will!!) and catching the ferry from Aberdeen. I'm nervous because I haven't done it before but I'm hopeful it will be great.
It's so interesting Squirrel actually what you said about feeling resentful of the money given to adult children. I think I must be spending too much time on mumsnet where it's completely expected that you'd give your adult children ££££. Actually ds1 is kind (mostly) bit he's pretty lazy and daft as a brush and you're quite right that I really don't want to scrimp for him to have the opportunity to sit on his backside so of course it's no wonder I can't get motivated for that.
I'm exam marking at the moment and I hate it so much. After that it'll be 3+ weeks in Scotland - yippee! After that I'll find a good investment product. I really don't know what's about but I need to look carefully at Charlie Stan, the FD6% or just bog standard ISAs. The interest rate to beat is 3.1 ( I think - must check) and I'm happy to tie up for 5 years initially but longer would probably be cool too
Back to the tedium that is marking. I'm halfway through today's target
"What we're talking about here is money and the freedom it gives you... freedom from worry and freedom from most forms of BS" MMM
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Oh goodness, I've just reread your post Squirrel! Interest rates!!! I'd completely forgotten they were so low!! Oh my, that's woken me up a bit. I really really do not want to hand the banks our future freedom!
"What we're talking about here is money and the freedom it gives you... freedom from worry and freedom from most forms of BS" MMM
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
I think I must be spending too much time on mumsnet where it's completely expected that you'd give your adult children ££££
Aye, but it's Mumsnet. So much dreck on there that it makes MSE look like a bastion of intellect
Assuming 3% real return, you need to save £35.50 or so a day over 5 years. It will be a stretch achieving this with cash savings, but P2P lending etc. might play a part (especially once the details about the new type of ISA become clearer next year).
Shetland is beautiful, the beaches are like the South Pacific, if it was bollockingly cold :eek:
Your diary is interesting as I am planning to leave my job shortly to work for myself. I am a secondary teacher of ten years, and plan to build my existing business as a private tutor and diversify a bit. I think most MFW diaries make it clear that balance is the way forward. It's important to remember that things are as they are today, but that may change tomorrow - good and bad. It's important to live now, but I agree with SSS that interest rates won't stay this low forever ( I think most people forget interest rates are ridiculously low!!) and over paying will help secure your future.
I was interested to read of your NHS work. What exactly does that entail?
Poor you with the exam marking, but it will be over soon and it will be great when you get paid. The holiday in Shetland sounds amazing and you will be creating wonderful memories for your children that aren't based on spending a fortune just because everybody else is.
Good luck with it, and treat it as a game - you won't win every battle but you will certainly win the war!
Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
Still thrifty though, after all these years:D
Been paid for my first batch of marking and that's now hard at work in my TTSB 5% account.
Have also had a telephone interview this morning from a company in that London looking for freelancers in the provinces (he said this with a straight face!!!) which looks like it will go ahead and will be worth £1000 - even better lessons will be during the day so won't cut into my time with lovely DS2.
Marked 6 more essays and complained a lot - 80 to go.
Had a quick look at ISAs - how do they keep a straight face with those interest rates!!!! Had a very brief look at P2P lending - more to investigate here. I assume the way forward with this is to lend loads of people hardly anything to minimise risk. Does anyone know what the approx default rate is?
Started with a new student last night. I found him a bit weird but I was safe with family in the house and he's rebooked so all okay I guess.
2 students tonight, also need to take car to garage and mark 14 more essays. Really looking forward to our holidays!
"What we're talking about here is money and the freedom it gives you... freedom from worry and freedom from most forms of BS" MMM
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Shetland hols sounds lovely
Have battled with the save/overpay thing and for me it made sense to OP but I'm a bit older than you
Made it to mortgage free but what a muddle that became In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!
Hello. Earthie says she charges £25 per hour. Is it the same where you are?
Yep! I usually teach from home, if I travel to the student I usually charge an extra £5 although they don't always agree to pay it in which case I waive it. I won't travel for only one hour unless they pay £30.
There's a website called iiiiiiiTalki ( just one i) that I'll get round to investigating properly at some point but pays tutors to teach via Skype. Hourly rate isn't great but if you're out in the sticks might be an option for you? I've got a business idea bubbling away in the back of my mind regarding employing other tutors but I haven't quite worked out what it is yet and what my point of difference would be. If you like, you can work for me :beer:;)
"What we're talking about here is money and the freedom it gives you... freedom from worry and freedom from most forms of BS" MMM
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Hello MBJ (now I've worked out who you are :rotfl:). I use Funding Circle and they give an expected default rate for each credit score. Yes, spread between loans as much as you can, you need to add money in multiples of £100 but can bid £20 a time on the loans.
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"
Replies
I think part of the issue though may be that I've gone too far towards frugality. When I was a teenager I remember my parents once having a screaming row, really nasty, because mum had spent £1 on some towels from a charity shop. It's never got close to that but I have felt myself get tight-lipped when DH that he bought such and such tiny thing and I don't like it. I see peers going to cafes and their kids wearing cute clothes and it makes me wonder if I'm forgetting to enjoy myself. Then I 'treat' myself to a cafe trip and it costs £15 and toddler won't sit still and preschooler hates what he asked for and we can't chat and I realise what a complete waste of money it all was.
Saying that, we are going to have a holiday this year and quite an exciting one at that. We're going to go camping on the Shetland Islands! Ha ha, not everyone's cup of tea I suppose but I am really drawn to those islands and I'm really looking forward to it. We'll be driving up in our old banger which will need breakdown cover (it certainly will!!) and catching the ferry from Aberdeen. I'm nervous because I haven't done it before but I'm hopeful it will be great.
It's so interesting Squirrel actually what you said about feeling resentful of the money given to adult children. I think I must be spending too much time on mumsnet where it's completely expected that you'd give your adult children ££££. Actually ds1 is kind (mostly) bit he's pretty lazy and daft as a brush and you're quite right that I really don't want to scrimp for him to have the opportunity to sit on his backside so of course it's no wonder I can't get motivated for that.
I'm exam marking at the moment and I hate it so much. After that it'll be 3+ weeks in Scotland - yippee! After that I'll find a good investment product. I really don't know what's about but I need to look carefully at Charlie Stan, the FD6% or just bog standard ISAs. The interest rate to beat is 3.1 ( I think - must check) and I'm happy to tie up for 5 years initially but longer would probably be cool too
Back to the tedium that is marking. I'm halfway through today's target
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Aye, but it's Mumsnet. So much dreck on there that it makes MSE look like a bastion of intellect
Assuming 3% real return, you need to save £35.50 or so a day over 5 years. It will be a stretch achieving this with cash savings, but P2P lending etc. might play a part (especially once the details about the new type of ISA become clearer next year).
Shetland is beautiful, the beaches are like the South Pacific, if it was bollockingly cold :eek:
I also remember you from before!
Your diary is interesting as I am planning to leave my job shortly to work for myself. I am a secondary teacher of ten years, and plan to build my existing business as a private tutor and diversify a bit. I think most MFW diaries make it clear that balance is the way forward. It's important to remember that things are as they are today, but that may change tomorrow - good and bad. It's important to live now, but I agree with SSS that interest rates won't stay this low forever ( I think most people forget interest rates are ridiculously low!!) and over paying will help secure your future.
I was interested to read of your NHS work. What exactly does that entail?
Sounds like you are doing a great job. Good luck
Bexster
Good luck with it, and treat it as a game - you won't win every battle but you will certainly win the war!
Still thrifty though, after all these years:D
Have also had a telephone interview this morning from a company in that London looking for freelancers in the provinces (he said this with a straight face!!!) which looks like it will go ahead and will be worth £1000 - even better lessons will be during the day so won't cut into my time with lovely DS2.
Marked 6 more essays and complained a lot - 80 to go.
Had a quick look at ISAs - how do they keep a straight face with those interest rates!!!! Had a very brief look at P2P lending - more to investigate here. I assume the way forward with this is to lend loads of people hardly anything to minimise risk. Does anyone know what the approx default rate is?
Started with a new student last night. I found him a bit weird but I was safe with family in the house and he's rebooked so all okay I guess.
2 students tonight, also need to take car to garage and mark 14 more essays. Really looking forward to our holidays!
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500
Have battled with the save/overpay thing and for me it made sense to OP but I'm a bit older than you
In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!
Yep! I usually teach from home, if I travel to the student I usually charge an extra £5 although they don't always agree to pay it in which case I waive it. I won't travel for only one hour unless they pay £30.
There's a website called iiiiiiiTalki ( just one i) that I'll get round to investigating properly at some point but pays tutors to teach via Skype. Hourly rate isn't great but if you're out in the sticks might be an option for you? I've got a business idea bubbling away in the back of my mind regarding employing other tutors but I haven't quite worked out what it is yet and what my point of difference would be. If you like, you can work for me
Mortgage 1: [STRIKE]£95,000[/STRIKE] £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: [STRIKE]£15,000[/STRIKE] £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500