MF by age 40! Then I am buying a Mercedes SLK

Luckyinlife

wow that is a lot :]

personally i would put 5k in a 4%club lloyds current account you both could open one youd get about £30 a month interest

can you keep the 10k or use it on what you like ?

diamondsonly

Luckyinlife wrote: »

wow that is a lot :]

personally i would put 5k in a 4%club lloyds current account you both could open one youd get about £30 a month interest

can you keep the 10k or use it on what you like ?

Thanks Lucky. It is a huge amount but i was only taking a salary of £10k a year when running the business and we lived on a very tight budget those years.

I can do whatever I want with the money. it's mine to spend/save.
Do you need to have DD set up on the club Lloyds?

atypicalblonde

I'll look after it for you :D:D

In all seriousness, I would make a £5k OP, £4k to savings, £150 to nursery :) and then allow yourself some fun money xx

Luckyinlife

ya you need 1.5k or more going into the account monthly but this can me moved about from savings and i think u need 2 direct dbits

hassle but £300-400 a year for 10k isnt to bad

no other savings accounts come close really

you could even chuck 10k into premium bonds till you need it and maby youll win somthing big :]

diamondsonly

atypicalblonde wrote: »

I'll look after it for you :D:D

In all seriousness, I would make a £5k OP, £4k to savings, £150 to nursery :) and then allow yourself some fun money xx

ATB I would happily trust you with it. After all look how well you have done up to now, it would be in safe hands

Thanks we shall definitely be having some fun 2weeks until our holiday. I am going to order a go pro as we would love to see the world as our toddler and DD see it. We are going to hold off with the OP from the 10K until we have spoken to a IFA. I just want our money to do the best it can. May do some smaller OP just to feel like I am doing some OP. But it would probably we token amounts until IFA meetings.

It is soooo tempting to use the 10k to OP...must resist...must resist..must resist
about a year ago I would wanted to book a holiday with the money so its definitely a change :rotfl:

diamondsonly

So the Go-pro didn't get ordered. My mum couldn't even get out of bed on Friday morning so we are going to up childcare for DS from January as nursery doesn't have spaces until then. We will also use wrap around care when DD changes pre-schools in September (this will cost £200 extra a month) plus DS nursery increase so all extra costs from January will be £600 a month..ouch!!

Although my mum is feeling better we have saved thousands on childcare so its time we made sure both grandparents take it easy :T.

Obviously OP/savings all will take a hit but we will just have to try harder to be money savvy and cut back where we can to make sure we can still OP and save where possible.

diamondsonly

Bluefire wrote: »

Open 3 TSB classic plus accounts? One each, one joint. No need for direct debits, just pay in £500 each month. 5% interest up to £2000. That would take care of £6000...

You can also have a linked monthly saver with a TSB account that also pays 5%, and you can withdraw whenever you need to. Max £250 p/m pay in.

Thats assume Bluebell, thanks for the tip. I will open them on my day off this week. :j

Lucky- I always worry about juggling money to cover DD but I guess i could set up the utilities ones from this accounts. I am useless at juggling money especially when assignment deadlines are looming.

Luckyinlife

you just set up a standing order thats all so it goes out itself no need to worry then :]

diamondsonly

Luckyinlife wrote: »

you just set up a standing order thats all so it goes out itself no need to worry then :]

D'oh why didn't i think of that! thank you for some common sense as always.

Ok will definitely see if I sort out some accounts on day off as well as studying

diamondsonly

Hello MFWs :hello:

Had a couple of days off. DD had preschool booster jabs on Wednesday and didn't even cry (very shocked by this). So we treated her and DD to nandos lunch. Went for the school uniform shopping trip and came back with.... Hair bobbles in school colours (mandatory) and shoes. NOTHING else in stock... major panic. Only saving grace is the uniform is budgeted for. If we finally get to buy it

DH is away this week so I am flying solo and managed to write 400 words yesterday out of 7500.... :eek:

The Good:

• some coursework done. Not enough
• First school fee invoice received- £800 a term less than budgeted for :j

The BAD:

• The IFA was meant to call on Wednesday and he didn't so won't be using him. I have another IFA i am meeting in October so hopefully he is more reliable.
• No accounts opened.
• Have a cold.