Making savings before it's too late

[Deleted User]

yes I did caronc but as it is for paint I do keep telling myself that it is worth it. I could leave it but the outside garden walls would only look bad over time and maintenance is key and I will do what I can myself while I can

I am starting to replenish the, very important, instant transfer savings account attached to the current account. This is very much the float, just like a shop float and is meant to go up and down, to be constantly replenished once past pinch points

One thing I have recently noticed about my bank and that is they hold pending payments eg my veg box used to appear straight away on my current balance, now it is hidden in `pending` today. If I were sailing close to the wind then that would cause an overdraft. Very sneaky and something I will be checking everytime I log on.

[Deleted User]

Slinky thank you for that, I never realised that it was for 6 months, thought it was just the current statement. I will start printing, if I ever manage to find a house.

moneyistooshorttomention

kittie wrote: »

One thing I have recently noticed about my bank and that is they hold pending payments eg my veg box used to appear straight away on my current balance, now it is hidden in `pending` today. If I were sailing close to the wind then that would cause an overdraft. Very sneaky and something I will be checking everytime I log on.

My bank has had the "pending" sort of thing going on for some time. I know, by now, when I ring them to check my balance to clarify exactly how much I've got available to spend - as it's often the case there are one or two items "pending" and the very first comment as to what my balance is usually tells me the amount at that exact moment (ie hasnt counted out the pending stuff).

On another tack - I always think it's wise to have some what I call "cashflow money" there in my bank account - ie money over and above what I need until I'm paid again. Not so concerned right at this moment - as I have some money sitting there waiting to be spent on clothes when I've got my figure back, ie so there's some money in there anyway.

But - apart from all that - I try and keep a suitable amount of money in there just as "cashflow money" and that prevents any problems with miscalculation (accidental/deliberate/whatever....). It's also a bit of readily available money I can grab instantly in the case of an emergency - eg having to dash back to my home area unexpectedly or finding an "NHS bill" (as I call it) that lands on my own shoulders is noticeably bigger than I thought it would be (eg the dentist telling me "It ain't £30 for a check-up. It's £300 for a couple of fillings too".

caronc

kittie wrote: »

yes I did caronc but as it is for paint I do keep telling myself that it is worth it. I could leave it but the outside garden walls would only look bad over time and maintenance is key and I will do what I can myself while I can

I am starting to replenish the, very important, instant transfer savings account attached to the current account. This is very much the float, just like a shop float and is meant to go up and down, to be constantly replenished once past pinch points

One thing I have recently noticed about my bank and that is they hold pending payments eg my veg box used to appear straight away on my current balance, now it is hidden in `pending` today. If I were sailing close to the wind then that would cause an overdraft. Very sneaky and something I will be checking everytime I log on.

Glad it's not just me .

moneyistooshorttomention wrote: »

My bank has had the "pending" sort of thing going on for some time. I know, by now, when I ring them to check my balance to clarify exactly how much I've got available to spend - as it's often the case there are one or two items "pending" and the very first comment as to what my balance is usually tells me the amount at that exact moment (ie hasnt counted out the pending stuff).

On another tack - I always think it's wise to have some what I call "cashflow money" there in my bank account - ie money over and above what I need until I'm paid again. Not so concerned right at this moment - as I have some money sitting there waiting to be spent on clothes when I've got my figure back, ie so there's some money in there anyway.

But - apart from all that - I try and keep a suitable amount of money in there just as "cashflow money" and that prevents any problems with miscalculation (accidental/deliberate/whatever....). It's also a bit of readily available money I can grab instantly in the case of an emergency - eg having to dash back to my home area unexpectedly or finding an "NHS bill" (as I call it) that lands on my own shoulders is noticeably bigger than I thought it would be (eg the dentist telling me "It ain't £30 for a check-up. It's £300 for a couple of fillings too".

Yes I keep a cushion aswell to avoid the unexpected or miscalculated popping me into overdraft:cool:

Slinky

kittie wrote: »

Slinky thank you for that, I never realised that it was for 6 months, thought it was just the current statement. I will start printing, if I ever manage to find a house.

You may find that your solicitors will only accept internet printed statements if they show your address as well as your account details on them.

Ours was an immensely tedious exercise that ended up with nearly an inch thick wedge of paper. I wasn't best pleased with OH at the time for all his money shifting!

maryb

Slinky I think your solicitor may have gold plated the money laundering requirements. We helped our DD with a deposit a few months ago which involved DH transferring money to me and me collecting together in one account the total we were giving her. The lawyers were happy just to see a current statement not the whole history

If you do decide to use internet statements, just pop into your branch with some ID and they can print them on their own printer and stamp them with the branch stamp. They won't stamp your own printout so don't waste paper.

Spendless

I'm back! Haven't been posting because we have been without an oven for a month! Our thermostat broke, the oven got too hot and shattered the glass door whilst our Sunday roast was in it. :mad:

Meal was abandoned and we went for a carvery instead. We then waited for our breakdown cover to mess around ordering parts, that weren't right and not return. Finally on Monday Mr S complained to the actual insurers and a replacement was brought to us last night.

I know not everyone on here uses their oven much, but we have the combination of 2 adults working full-time, 1 of them works away for part of the week, two teens 1 vegetarian and involved in a lot of extra curricular activities and I use the oven quite a bit.

In other news, the works canteen has been being refurbished for the past 2 weeks, which has forced me to take packed lunch. I slipped up on day2 when I left my lunch on the kitchen side and had to go to the nearby village to get a sandwich. As it's not exactly on the doorstep and I'm paid an hourly rate, not only did having to buy something cost me, but I also had to take a slightly longer unpaid lunch in order to get there and back. Didn't make that mistake again. Yesterday was only the 2nd day when I wasn't able to take everything from home, because the 25p can of pop I'd bought especially to take had been found and consumed by DS first! So spending lunch money over past 2 weeks has come to £5. Really happy with that. Was great leaving work in the knowledge nothing had been spent!

In other news we've booked a hol, for me, DH and DD to go away May half term. I've got between 1 and 3 years left before I'm no longer tied to the school hols for going away. :money: DS is staying at home for the first time. I am very tempted to leave him with the equiv of 1 weeks student loan money and he can have a trial run of how he manages on it.

I'm also getting through the toiletry stash. We had to buy toothpaste for the first time this year. :rotfl:

I'll have a catch up on everyone's news later. Shortly I'm taking my 15yo DD to the gym for an induction. She's been asking to go for a while. She had some free vouchers to go to one last summer with her friend and friend's mum, but when we enquired about her joining was told there'd been a policy change and she couldn't be there without an adult accompanying her until she was 18. That's not really feasible for us when we both work f-time. Anyway by chance I discovered that our local council sports centres do a gym package for 11-15 year olds, that they can attend alone after the initial induction and is either £10 p.m unlimited or £2ish per session, so will see how much she likes it before committing to monly payments.

Blackcatsreturns

Spendless - I'm also working through my toiletry stash. Interesting that I'm now happier when empty bottles leave the house rather than when new bottles enter the house.
I have a dilemma and would welcome views from the wise people here.
I've been asked to lend a relative some money. They need it to repair the vehicle that is the basis of their business. Without the repair they won't be able to work. They have already borrowed some money from another family member and have now asked me to lend them £500 to complete the repair.
I have previously lent them around £700 and they have repaid the princely sum of £20!
I can afford to lend them the money without causing me too much of a hardship and they know this.
I want to say no but I feel that if I do then they will not have any chance of working and earning any money. However, I'm not sure how long the repaired vehicle will last.
There are family dynamics here and ironically I will be thought badly of if I don't lend the money rather than the individual who is asking to borrow the money. They are very, very bad at managing their money. On one occasion I was aware that they had earned £50 for a days work and they went out that evening and spent £35 on a steak dinner.
I want to say no but the repercussions of doing so are tempting me to just say yes and very reluctantly wave goodbye to the money.
I'd really welcome any views.

maryb

I'd be tempted to say you will lend it to the family member who is putting pressure on you so that they can make the loan, rather than lending it direct to the wastrel. If they thought they would be responsible for paying you back it make them hesitate and see it from your point of view

But that would probably just result in an aggrieved accusation that you are always so difficult. The question is whether that person would then acknowledge you were right when the inevitable happens. I'm sorry there's no easy answer.

[Deleted User]

That is one heck of a dilemma blackcats, I can only see one way for you and it has to be no, don`t lend it. That person needs to learn to save and be more frugal and you `lending` money puts a mental barrier in the way of that. You are not being kind by lending, you are taking the easy option, for you. How on earth can that person ever learn to survive financially if there is an easy source of cash to always fall back on

The first no is always the hardest, don`t give any explanation, you don`t need to. If you find it too difficult to say no, then say that the money is already accounted for. They won`t know your intimate financial details, will they?