Making savings before it's too late

[Deleted User]

I just opened a direct saver instant access with ns&i. I already have some premium bonds with them. It was a doddle to do and has interest at 0.95%, my bank gave me 0.2%. I put a few £ in to test and it went through instantly, so I put the bulk of my safety net savings in, leaving only a small float in my bank saver, just for bumps and pinch points. No contest, this is where I am saving from now on. I make sure, always, that I have the padlock at the top in the tool bar

My savings are scattered here and there and I am going to check interest rates later. I think the yorkshire building society is 0.5%, so that will be transferred for definite

tori.k

Your not the only one White musk i've been trying to about 12 weeks to find the time to get into the hairdressers.
Im so tired I could curl up and cry, on the upside it makes me rather decisive, DH reminded me I hadn't given thought to curtains our current home the smallest window takes a 90' by 90' so 15 mins before the shop closed I hit up B&M and grabbed 5 pairs of curtains and still had 10 mins to spare.
Ive blown this months decorating budget by £40 but unlikely to get all the jobs done before payday, so I decided I borrowed £40 as it will balance out.
Lad has pick a dark sapphire blue paint for his room that im a bit dubious about as his room is only 18ft by 10ft but he has to live with it I pick him some light grey curtains and bedding with keeping the ceiling coving and woodwork white im hoping it wont be to dingy being north facing.
On a positive note the cream carpets came up lovely once I put the bissell cleaner over them, so don't have to worry about replacing them from the off.
Im currently hating the new house but another two weeks and the worse should be over and things will settle down.

maryb

Tesco bank internet saver offers 1.25% which includes a 12 month bonus so you would have the hassle of switching after a year. But I have used them and was happy.

You can get 1% with Nationwide if you have been a member for a year, otherwise 0.75%. But any old account you have not used in ages would qualify. If not, then Coventry Building Society offers 0.9% easy access

I have not bothered moving savings for the last year or so because rates were so low. But now they are going up there is some point to it again

lessonlearned

Hello everyone.....

Hello WHite Musk......nice to see you over here.

Well first of all......this last few weeks I have been careless with both my diet which means my fibro is not that great. My own stupid fault. I have spent too much on food and didn’t eat right (for me). So a resounding could do better. An unexpected weekend in London didn’t help the budget either. But it was fun.

My house goes on the market next week so I shall be house hunting too. A bit of trepidation but I do need to move to somewhere I can future proof for my old age and this house won’t cut it.

I do need to switch banks but as I may need to apply for a small mortgage for the house move I have decided to hang fire on that because I don’t want to run the risk of damaging my chances by having too many credit searches. I can sort all that out afterwards.

The college course is going well. It will give me the certificates I need to get insurance so that I can start a small sideline business. I want to work from home so Will need to take that into account when house hunting. So much to think about.

WM. I have stopped being naughty with my online spending......No more using Amazon as my own personal lending library and no more EBay clothing bargains.... :rotfl:

I have been offered a job (dare I say it with an estate agent :rotfl:). Please don’t shoot me. Anyway I’ll think it over. If I’m honest a little extra money wouldn’t go amiss. I would only want part time though.

The good news is, I checked my utitility accounts and I am well in credit, even after this long never ending winter.

Miserable day here, I have a massage later today and need to do some food shopping.

Photographer coming on Monday so will probably spend most of the weekend trying to get everywhere looking it’s best ready to launch this house onto the market next week.

Wish me luck.

lessonlearned

Ps re the hair. I am a Silver Fox. It has been white for years. I tried a colour last October, everyone immediately said they preferred it white. So I had it all cut off last week to get back to my natural colour. It is currently a Judi Dench style pixie crop. I do like it and I have had loads of compliments.

It will save a lot of money if you go au naturelle. I also find my hair is in much better condition if I don’t colour it. I appreciate it’s a matter of personal choice though - some ladies like to colour their until the bitter end. :rotfl:

[Deleted User]

I just sat down after being at the hairdressers, gone from judi dench to a bit longer on top. I only need to go every 7 weeks, it is pure silver and thanks to eating more protein, is also getting thicker. It became quite thin after the big stress a few years ago, takes ages to grow back and only did that when my life settled

I decided to pay cash, so now my cash wallet is right down but still has enough for petrol and a few groceries. It was getting that new bank account did it, I am determined to get that 12 months safety net in there asap and every bit helps

Good luck with the job LL

[Deleted User]

I check my `used frequently` bank accounts every morning after an attempted `steal` a few years ago, all is in order and nothing added to my cc. My new direct ns&i saver is live and will be very useful for my house savings, I have arranged transfer from yorkshire to current and now that ns&i is live, as soon as yorks is in current then I will arrange transfer of the whole amount plus a few extra £ to ns&i.

I spent a while a few months ago, taking some cash out of my sipp and putting it into various bank accounts, towards my new house. The ns&i account is good as it is government owned and is safeguarded well over the FSCS limits. At some stage I will have to show proof of funds and it will be much easier to show the ns&i dashboard summary.

I have managed the pensions for hubby and myself for 12 years and at my stage of life, it is important to have most of the pension fund in non-risky accounts. I will still keep a % in (safer) shares that I can deal but the rest has to be in cash for my peace of mind wrt the volatitility of world markets. Sipp cash only earns interest of about 0.1%, hence me having other plans to stabilise my future pension, hence me needing more than one savings account. I do think of the sipp/which lent the house money as completely separate from normal savings. Most people who have works pensions have no idea about the background management but when dh left work, his pension had to move and that is when I took it over. Now I make it work for me and will eventually be happy to have an annuity with part of my current house proceeds. That is the background to my unusual financial position, understandably I want to get it all settled before I am much older and with minimum stress but I do remember to keep that and my everyday savings completely separate on paper

White_musk

I have an ISA and another small savings account that I top up monthly, it means I have a safety net and also something to leave my DC when I finally ping from this mortal coil. The problem is I have recently moved house and while have done all the minor work this house needed I still need a new boiler and kitchen and I am debating a new bathroom. I knew all these things needed doing when I bought so all in the budget. It's now finding the energy to deal with the upheaval. I am going to get some wallpaper and start to decorate. I will leave the kitchen as that would be a waste of time and money but the rest while not desperate I want to do to put my stamp on the house. So, do I go for a slightly cheaper kitchen or say bu**er it and raid the savings? I hate decisions like this.

Hi LL and Kittie, friends from another thread.

My Bay of E order arrived, I shall not be visiting said website unless it's for something I really, REALLY need and not just something I want. (Sits on hands).

maryb

Kittie are you worried about inflation in the future? That's my worry. I can remember in the 1970s people retiring on good pensions and a few years of high inflation later they were living in penury.

We both have final salary pensions though most of mine don't kick in for a while but they have limited indexation so it wouldn't take too many years of inflation to whittle it away.

I'm wondering whether to leave some funds in shares as a hedge against inflation

[Deleted User]

no maryb, I intend to get an escalating annuity. It will easily keep up or exceed inflation. One of the reasons I have left it to this age is that I get a better rate at my age. I know an annuity is a risk ie dying sooner rather than later but all pensions (except sipps) die out with the person unless provision has been made for a time guarantee (5 years)for the full pension then afterwards half going to the spouse.

This is what happened to pensions from the instant my husband died:his state pension stopped, small private pension came to me for two more years then halved, his sipp was transferred to me. I was incredibly glad of savings when that happened. Imagine if the total income was 2 x state pensions + the whole small private pension. Then suddenly it was half, with no warning and this is reality. The bills don`t stop

Personally, I know exactly what my monthly pension income is now and I know I need to increase it, to give me a comfortable life for the rest of my life ie warmth and potential help like cleaning and gardener

my reasoning for the very first sentence is that I don`t expect inflation to get too high