Getting a Grip and Saving towards the mortgage

Busy_Mee1

I have been busy setting up the new accounts with the Coop - Internet banking etc, I have got quite a methodical system now for keeping all the details. I have rung to start the switching process and the switch will happen on 3rd June ( I have left enough time so new DDs are active) and the £150 switching bonus arrives sometime in the 45 days after.
I just need to get OH to do his when he gets in from work and a little coaching will be required. He is quite happy for me to do all of this but he does get a bit freaked out when he sees all the accounts and bank cards, so I do try to hide the wiring and just tell him how much money I have made :T He is worried that I might get run over by a bus one day and he won't be able to untangle the web of accounts, but I have assured him that it is all in my trusty accounts book, so there is nothing for him to worry his pretty little head about:rotfl:

It is feeling like a very tight month this month and pay day is not until 31 May. This is all self inflicted so that I can pay the builder without impacting the savings too badly. I am currently waiting on some expenses from work that will make us solvent again. June will be much better so I am sort of wishing this month away.
The good news is that I have already saved £152.22 into the O&S account - all "free" money or Tilly Tidies. This exceeds the target of £150 per month into the O&S account, which along with the regular savings of £1150 exceeds £1300 per month. Very pleased with that.
Have a good weekend everyone :j

LadyGnome

Sounds like everything is going to plan. I need to follow your example and do some account switching. You must be very proud of your children they sound very organised and sensible.

Busy_Mee1

Shhh they are sometimes but don't tell them I said that !

I am enjoying playing around with the bank accounts - the driver is being able to earn £1000 a year in interest tax free (which if you are a higher rate tax payer is the equivalent to about £1600).

Busy_Mee1

Very excited have just bagged £15 worth of Am@zon vouchers through Swagbucks :jI used the link on the MSE website that gives you a £10 bonus when you have earned your first £5. I think it is valid through May if anyone else wants to give it a try.
It has taken me less than 2 weeks, probably doing a survey a day - slightly tedious but not too much effort for a free 15 quid.:money:

Busy_Mee1

I am working from home today, so a cheeky mid week post.
Finally managed to get other half to ring and switch his donor account to the Coop on Sunday - he hates doing stuff like that but I badgered him because it will gain us £200.40 . I just need to go and set up the PIN numbers on the debit cards and set up standing orders for £800 to swish through the account every month and we can then claim £4 a month each rewards ( until we decide to switch these again !)
We also got the interest on our O&S account and the total in the O&S account for the month so far is £165.95 (£285.06 for April and May).
I am going to shift some more money from my ISA to the S@ntander 123, because looking at my figures we can still earn some more interest within the PSA this year. I will then need to make a decision about what to do next year, whether to carry on opening higher interest accounts so that we exceed £1000 and pay the higher rate tax on anything over £1000 or cap it off at £1000 and put anything else into ISAs. I am favouring the second option - feels like quite a lot of effort to then lose a big chunk to the taxman and have the hassle of a tax return.
In general I have found this month really hard, but realised it is actually been 33 days long (last got paid on 29 April before last bank holiday and we don't get paid again until 31 May). I have also had to pay the builder £4K, which meant dipping into the savings, so it feels like despite all my efforts we have gone backwards. Things have been really tight and it has made me feel quite anxious at times and I have had to remind myself that this is self inflicted and some people have no choice but to live like this. Anyway only another week to go and fingers crossed my expenses from work will arrive and ease things for the weekend

LadyGnome

I think you are right about remembering that being short of money for a month is a choice although I didn't enjoy it too much this month. My mortgage theoretically runs until I am 65 and the thought of still being burdened with it then is a lot more painful than any one tight month.

I am still saving into my ISA as well as high interest savings accounts as I have some pots which will be growing over the next year or two and the interest position could start to get tight. A few years ago I would have been amazed that I could even contemplate £500 of interest a year. I will try to stay under the cap if I can (sadly I already have to do a tax return) as I don't fancy giving anything back if I don't have to.

I need to give MrGnome a metaphorical kick up the bum to sort out a reward credit card of some type as he doesn't even have that. I will leave account switching for him for a bit longer (one step at a time).

shangaijimmy

Whenever we feel a bit strapped or short of cash just have a quick check of spreadsheet and see the progress made and how it sets you up for when we want to be winding down so to speak! Our mortgage is set to run till 2036!!!! And there's no way i want to, or will be paying it at 57! So a bit of hardship every few months now (when kids are still young enough not to want/need!) is easily rationalised!

Busy_Mee1

Morning all - it is a very grey and wet start to the bank holiday weekend here. The good news is that my work expenses have finally dropped into my account and so our everyday account is looking much healthier. Only 4 more days to go until payday....I am definitely not going to to cut things so tight in June, I have found it quite stressful. I think psychologically I would prefer to allow more everyday spending money and if we don't spend it I can sweep it into savings at the end of the month. I will do the May roundup on Monday and declare my diminished savings.
I have decided that I am going to start Ebaying this weekend, I realised you can have 20 free listings a month, so I need to get some on in May. I am not sure how successful this will be over a school holiday week but I am will give it a try.
We have got some friends coming on Monday - we are going for walk and I am cooking ( not sure what yet). I am going to M&S for some food shopping today - although this doesn't sound very MSE, I have a £5 voucher if I spend £35 and £17 worth of reward vouchers from my M&S credit card, so I should get a reasonable haul of shopping for around £13.
Have a great weekend everyone

gallygirl

Busy_Mee1 wrote: »

Finally managed to get other half to ring and switch his donor account to the Coop on Sunday - he hates doing stuff like that but I badgered him because it will gain us £200.40 .

Was it the 40p that clinched it ?

Busy_Mee1

Ha ha yes - although I will need to Tilly Tidy it immediately I like round numbers :D