No going back....gaining £s and losing lbs...

justme111

£4000 yearly pension accrued is not to be sniffed at , many (most) of people do not have that relying on SP alone. Mortgage is small as well, you seem to be well placed financially, good luck with your endeavour.

[Deleted User]

Allotrope wrote: »

Wow, that's great extra income in a short time! What's FIT and RHI as income sources?

Sorry,

Renewable Heat Incentive (RHI) for our heat pump ~£215 a quarter and Feed in Tariff (FIT) for the solar panels ~£1700 a year.

When I pay in these amounts [& others] via debit card into the SIPP, bingo the abounts jump up by 25% thanks to tax relief Never mind investment growth with has been nuts.

With my mort being on a 5 year fee free fix [could have been better with brexit hindsight ] my overall SIPP balance can vary more in one day than int on the mort over several months... Upward trend so far... fingers crossed!

Cheers

Allotrope

Thank you. I've decided to save a little bit whilst I investigate my options re pensions... take out a SIPP, bump up my current teachers pension etc

Allotrope

justme111 wrote: »

£4000 yearly pension accrued is not to be sniffed at , many (most) of people do not have that relying on SP alone. Mortgage is small as well, you seem to be well placed financially, good luck with your endeavour.

Thank you. I felt I was very far behind - I started teaching late so haven't accrued much... but better some than none!

Allotrope

Doing well this week Got paid my switching bonus from TSB today so another £100 in the savings pot... £380 / £800 now

[Deleted User]

Allotrope wrote: »

Thank you. I've decided to save a little bit whilst I investigate my options re pensions... take out a SIPP, bump up my current teachers pension etc

Good plan, gotta have a nice cash savings/emergency buffer.

Have you seen Dave Ramsey on Youtube? One of the few finance gurus worth watching

Cheers

Allotrope

I agree with you - he's great! Haven't seen his YouTube stuff but I listen to his podcasts and definitely try to follow his 7 baby steps...

I have £1000 emergency fund and £2500 in another saving pot - this is a little low for 3-6 months but I'll keep adding to that gradually.

Allotrope

I'm still on a roll - better save some effort and eBay stuff for Feb!

I switched internet provider and picked up £25 for my old router on eBay. I also picked up £7.36 for old DVDs today and another £5 from Swagbucks. I've reached a £10 voucher total on survey mini but haven't decided on which voucher I want!

It's a good month... not sure I can keep this pace up!

Allotrope

I havent updated this in ages! But I want to keep this up to date now. Jan was great, I put £200 into my girls saving accounts, £300 into my pension pot and have put a little bit aside for next Christmas and a possible summer holiday. So I'm really pleased with that, coming from the last decade where I have literally spent what I earned, and more!

I'm loving YNAB, it really helps me see where my money is going. This month i have planned to overpay the mortgage by £50 and put £400 in the various saving pots. I'd like to add a bit more but there's an eBay problem I'm facing at the moment.

Last month I sold a Garmin for £100 on eBay. All was fine and I took the money out. However 3 weeks later the buyer issued a chargeback, claiming it was an unauthorised purchase. I submitted the tracking info that says it was delivered a week ago but PayPal are holding the money whilst they investigate. That means my PayPal account is showing a negative balance and any money I earn through eBay is going into that rather than credit to me so although I've sold £50 of stuff this month on eBay, I haven't got any money to show for it hopefully it'll be resolved soon.

Allotrope

It's half term this week, and I know I spend more in the holidays, so I've been careful to put aside a little extra for the half term, but also to plan my week. I'm going to try and keep it low key, partly for money but also I have a lot of work to do for next term thanks to the governments changes to the GCSEs and A-levels... not much of a break this week but I'll get my turn in the summer.

One thing I do need to get done this week is to start my weight loss journey. I've been putting it off too long and now my size 18s are getting tight :eek: ...I do not want to be spending money on larger sizes, so time to get a grip. I'm going to do slimming world from home combined with jogging.., will start the couch to 5k programme tomorrow and log my progress here. I feel like the weight is really holding me back in so many ways so it's time to say goodbye to it...