Future Finances: Time vs Money

crv1963

Great advice! My biggest waste of money- smoking- has been addressed mainly because if I don't it will kill me eventually, not something I thought about when I was an immortal teenager and first started, after all 30 was old and over the hill lol, fast forward to 50 something and actually 30 is still young and I don't feel ready for stopping living just yet. My 79 year old mother tells me she feels 18, just has to go a bit slower!


I also am recycling a lot more, demolished hen pen, put the wood away for future use, not take it down the tip or hire a skip. Most days I take a packed lunch- must make it everyday!


I take cuttings and divide lots of plants around the garden, give away most but often get given stuff in return that I haven't got. As the garden is my main hobby I'm always on the look out for new (to me) plants and free is definitely better!

lessonlearned

Well done on the smoking.....more money, stronger lungs, healthierbody....win, win, win.

Your mum is right, age really is just a number. I'm 67 going on 16. :rotfl: yes I've got a dodgy knee and a few mysterious aches and pains but I too don't "feel" any different, still a silly schoolgirl at heart.

I am just reading a lovely book.....bought for £0.01 off Amazon of course, :rotfl: it's called "Ikigai, The Japanese Secret to a Long and Happy Life". Studying the people of Okinawa, the healthiest and longest lived people on earth. It mentions gardening.....so you are on the right track......

Apparently there are 5 Blue Zones in the world, where people live to a great age and enjoy exceptionally good health, (the U.K. isn't one of them) Top of the list is Okinawa.

Anyway that will be today's reading whilst I enjoy my morning coffee in the sun.......

Hope you all have a great weekend.

sukysue

We have maxed out on the premium bonds , 50 k each.
All our winnings are free of tax which we are really trying to avoid. We usually make equivalent to the interest rate so are happy with that. Also we absolutely love it every month when we check the bonds for our win lol, we are like big kids, so we may lose a little over the time but so far so good but we get such enjoyment from it .

sukysue

While l am here l am wondering about just doing our own wills on a piece of paper and getting them witnessed and dated by some ppl not related to us or going to benefit from our death. I also wondered if the witnesses die before we do is the will still legal? Will just be mirror wills to each other tbh. It all seems very simple and will save a fortune . What does everyone think?

ShyAndRetiring

:wave:

Gosh, lovely visitors, so sorry to have been AWOL, monster worky week with lots of family birthdays at the end of it so been a bit pulled in lots of directions.

Hope you're all having a good one. Just pausing for breath before taking dogs out, day has been dominated so far with more birthday preps, housework and of course the Bored Meeting.

OH wants to go out for a 'two of us' walk once we're back from dog walk so doubt if I'll get back on here to update tonight but will pop back asap to update on progress and reply to comments etc.

In fact, I may start that shortly as Mr.Let's-Go-For-Two-Walks is now napping on the sofa! Hmmm, perhaps that'll be a simple pleasure for today, a little P & Q! :rotfl:

ShyAndRetiring

crv1963 wrote: »

I actually managed to sit at a table and have a sandwich, then in the garden in the evening have a glass of wine watching the Hens go to bed. It was so peaceful.

Aww CRV I'm so with you on this. We used to keep hens and I used to love watching them settle at night. In fact *hushed voice* when they were settling in with us I used to sing to them at bedtime to stop them from being all pecky with each other! Their favourite lullaby was "train-a-whistle-blowing" .... goodness knows what the neighbours thought!

ShyAndRetiring

humptydumptybits wrote: »

Simple pleasures, I've had a bowl of strawberries for breakfast. Sweet and juicy.

Hmmm, strawberries! Sounds lovely Humpty.
Our blueberry bushes are just about finished and I'm missing just grabbing a handful of fresh berries in the morning.

ShyAndRetiring

thriftytracey wrote: »

I switched bank account yesterday to the Nationwide FlexDirect. It was the most trouble free on-line switch yet (although I do have an existing Flexaccount with them).

:T Oooh ThriftyTracey that sounds like the one we've just opened, the 5% for a year one? Seems like a good deal even if it is just for a year.

I am also looking for an account where I can squirrel away holiday savings that pays a decent rate and is easy to transfer money to. I've got a small regular savings account with Birmingham Midshires but it is not very flexible. We have ISA's however that is for the unexpected or large capital purchases. We also have a Santandar bank account for DD's and Standing Orders and 2nd level savings, then we have a Nationwide Bank account for savings towards regular expenditure such as vehicle/caravan services and maintenance together with house maintenance. I just want an old-fashioned account where I can pay bits of cash/cheques in, easily transfer small sums electronically and pays a half way "decent" interest. I must admit I am nostalgic for the old books that were printed up every time money was deposited. I remember saving in the Abbey National for our first house deposit that way. It was most satisfying! Actually typing this I just thought about the Post Office. Must do some research.

ThriftyTracey, our main accounts are with T*sco Bank, their current account pays 3% up to £3k and you can open two of the accounts. This % is more than most savings accounts and you get all the convenience of online banking, easy transfers and use of debit card when you want to draw cash out for your holibobs!
Oh and you can also align it with your loyalty card and gain a few points each month for using it. Worth looking into?


Anyone else do this?

We're also using the PO one year lock-in account, they do seem to have lots of variations so also an option? And to answer your other question, I still have my old Girobank account book, from when the PO started doing that kind of banking, so yes, I'm with you on the satisfaction of watching the numbers grow in a book! I've just had to get used to watching the numbers grow on screen instead.

humptydumptybits wrote: »

I'm looking for something as I'm saving for DDs wedding next year. I'm not getting very far but I will certainly post if I find something good.

As above Humpty, maybe look at the T*cso current account, as you get the 3% interest but also the convenience of being able to pay for things easily ... something likely to be needed for wedding spends!

ShyAndRetiring

lessonlearned wrote: »

Interesting post thrifty..........

I need to have a money sort out after I have moved.

Yes, always a good thing to do after the dust settles on moving, have you got a date yet LL?

TBH I am getting heartily sick of having to keep monitoring interest rates and switching banks just to try and get a decent savings rate. I think savers have been punished long enough. :rotfl: half the time we are not even keeping pace with inflation.

I do the "recycling trick", ie using linked accounts that allow you to filter money into a regular savings account paying around 5%. Again these are only for 12 months but better than nothing. I have now had three consecutive HSBC ones. As one finishes I just start Another. I'm also going to do a Santander one.

I have dabbled in Stocks and Shares ISAs this year. Well my son did it all ....bless him. So far I have earned just over 10 per cent return in 10 months, which of course beats the banks hands down. I know over on the investment board they would probably laugh at that saying it's small potatoes but I am happy. I would be too nervous about going high risk. It's very tricky.......trying to get decent returns but not opening up to high risk.

:T Sounds like a good result LL and no matter if small potatoes by comparison, if it's an investment and return you're comfortable with then all power to you!

I have no idea what effect Brexit will have on the stock market and anyway I do need to have some instant access funds for house renovations so I have just cashed in some of my S&S holdings and will transfer them to Santander for the time being, reducing my exposure to the whims of the stock market. At least for now.

I know the stock market is probably best for long term savings and investments but as I am now 67 I don't feel comfortable taking too many chances. Different if like my son you are in your 30s but my age it isn't so easy to ride out the lows.

If any one has any better ideas, please share.

I think you sound entirely sensible about the whole thing LL. The riding out of lows is always an issue and you do have to ensure you don't need access to the money invested. We always err on the side of caution as accessing funds could well be a likelihood if the situation with my mum's (or our own) health changes and priorities shift. Good luck with it all!

Savvy_Sue

sukysue wrote: »

While l am here l am wondering about just doing our own wills on a piece of paper and getting them witnessed and dated by some ppl not related to us or going to benefit from our death. I also wondered if the witnesses die before we do is the will still legal? Will just be mirror wills to each other tbh. It all seems very simple and will save a fortune . What does everyone think?

The will remains valid even if the witnesses die before you, but honestly? I'd go to a solicitor. Wait for free wills month and make a donation to charity if you like. but if your wills are simple it won't cost a fortune.

However, I'd be prepared to lay money that your simple mirror wills are not quite as simple as you think. who are you choosing as executors? Each other, obviously, but after the first death, who does that leave for the second death? Likewise, who benefits on the second death? What if you both die before the second can alter their will?

A good solicitor will ask these 'what if' questions and more importantly make sure that your wills say what you intend, no room for mistakes or slips in witnessing etc. Remember, someone will have to sort the problems out if you get something wrong.

Also do use a proper solicitor, not a 'we'll visit you at home and store your will' will-writing company. Much better VFM.