Setmefree's Diary: MFi5 journey

setmefree2

Yeh - we have one of those - it's an old Woolwich one which tracks Barclays base rate....definitely confused which isn't good as that's how you get stiched up Seemed like a good deal as we can overpay as much as we want and we were already with this lender so didn't have any other charges. Do you think it's OK?

setmefree2

http://www.fool.co.uk/news/your-money/manage-your-finances/2008/01/31/spend-less-have-more.aspx?source=ioowftxt0010011

Thought this was interesting too and wanted to share:D

BACKFRMTHEEDGE

Great thread:D

setmefree2

all,:hello:

I was watching Martin last night on ch5 and I felt really bad as I don't do many of things he says to do. I hate credit cards and I only have one (Nat West Visa) attached to my current account. (It used to give me airmiles - these days it gives Your points or something:rolleyes:). I only have it to buy things on line and I pay it off straight away. Martin was saying we should all buy things on cash back credit cards and I know he's a big fan of stoozing. But I loathe credit cards (and most of the companies who operate them - like Egg yuck) and I really don't want any.

Do you think I'm missing out? I like my online bank a/c, savings a/c and Visa a/c cos I can check it everyday and gives me complete control. It doesn't cost me anything and I get good interest on my e savings. All views welcome:D

tsharp

Stoozing seems like a massive chore for £150ish interest over a year, and cashback credit cards are equally hassle-some i reckon. Just keeping one step ahead of my minimum payments is a chore sometimes, and I'm more organised than most when it comes to keeping debt to a minimum...

setmefree2

Another month has flown by and the SMFs have had a good month:j. :jOverpaid by £1k which with the regular £1.5k repayment means we are tantalizingly close to going below the £160k barrier.....which will happen in March (even without an over payment).

OFFENCE
1) Clever Mr SMF2 got a 8% payrise and a bonus. Bonus is needed for the "just in case we need a new car fund" so is going into the Cash ISA...and for our summer hols :cool::D He has allso been given another 3 tranches of shares which with a crystal ball and a fair wind could seriously help us pay-of-the-mortgage.
2) We thought we were getting a windfall from Norwich Union but sadly we weren't one of the lucky ones:think:
3) and of course there was the BOE rate drop (but we can't take any credit for that - but shows how random it all is!)

DEFENCE
1)The Jalopy needed £220 worth of work on some electrical coils?But we think we've found a really good garage close to us, which is good news. This could prove really important if we intend to run our car "into the ground".
2)Painted the kitchen and finished tiling - only cost about £40:jand looked really great after. I'm half way through hall, stairs and landing....half term halted progress.:p:dance:

3) Moved 5 plants in the garden on those 2 really hot days we had:dance:4 are looking quite happy but one might be dead :rolleyes:.....but they were struggling in their orginal spots

4) Everything else pretty much came in as expected. Didn't buy any books;). Bought some jeans but paid with Next Voucher which I got from Mr SMF for Xmas. So that's no clothes.

Thinking about the cash ISAs made me think that we probably need to transfer ours. Currently with the Yorkshire but the rate has now dropped to 5.8%. from 6.05% which we were getting until 30th December

setmefree2

Looking at Lloyds TSB fixed rate cash Isa - 6.5% for 12 months - looks like a good deal.:money:

http://forums.moneysavingexpert.com/showthread.html?t=725969

evab_2

well done with the overpayment despite everything else you've had to pay out for this month, I might have a look at that ISA too as need to sort out for the next year.

take care Ev

setmefree2

http://forums.moneysavingexpert.com/showthread.html?t=766161

Barclays seem to be offering 6.5% too - all limited time deals - though LLoyds one ends end of May

LouiseJ

Great rates SMF2. My OH does not have an ISA but I do. The kids have savings in a Halifax Save4it account which I need to keep open as their regular saver money 10% gets transferred into in August.

Just wondering if OH should open an isa and stick the kids savings in there instead of in 5.55% save4it account. They wont have access until they are 18 so we would be getting the best rate possible for them.

What do you think?