How much to live on

Organgrinder

Well yesterday I opened another 0% card and am moving £9000 to it (no balance transfer fee). Come April that will be 4 years this debt has been moved around (give or take the odd £1000). At an average of probably 4% pa that will equate to £1420 in free money over the 4 years.

( In total my 0% deals on stoozing and balance transfers are now over £25000, generating interest of over £1,000 a year - in tax free ISAs of course).

On another note, Mrs O is projected to have approx £80k in her pension pot come 61 in addition to her occupational pensions of about £5k.

She wants an after tax income equivalent to what will be her post SPA income which will be £16k. Lots of ways of doing this but the good news is it can be done in ways that minimise or even eliminate any tax and still leave a little bit of rainy day money behind!

Pat38493

Organgrinder said:

Well yesterday I opened another 0% card and am moving £9000 to it (no balance transfer fee). Come April that will be 4 years this debt has been moved around (give or take the odd £1000). At an average of probably 4% pa that will equate to £1420 in free money over the 4 years.

( In total my 0% deals on stoozing and balance transfers are now over £25000, generating interest of over £1,000 a year - in tax free ISAs of course).

On another note, Mrs O is projected to have approx £80k in her pension pot come 61 in addition to her occupational pensions of about £5k.

She wants an after tax income equivalent to what will be her post SPA income which will be £16k. Lots of ways of doing this but the good news is it can be done in ways that minimise or even eliminate any tax and still leave a little bit of rainy day money behind!

Out of interest - once you have finished with a stoozing card and the deal has finished, do you close it down completely or just leave it dormant?

Organgrinder

Good question! A bit of both to be honest. I sometimes forget though but eventually get round to closing them down.

Organgrinder

louby40 said:

Great Christmas Eve and Day spent with family.

Now in glorious Morocco for the next 10 days in a truly luxurious adult only hotel. This is the second time we have come away for some Christmas/New Year sun and I'd highly recommend it. last nights sunset was stunning.

Temperature was 26 today. Finished my first book and now on my second. 

Hope everyone had a great time celebrating with friends and family. 

Spot the difference......

kempiejon

[Deleted User] said:

Apart from contributions to 4 online forums and occasional online shopping I will only use the internet for information gathering. I have closed all social media accounts apart from one messaging service  the family use. I am also going ration my access to the news.

I am also avoiding setting targets for anything, but rather will step back and instead observe how things develop over time. 

Overall, I am going  to be happy in my own world and keep out the toxic influences of the bigger world. 

I had a chat with the SO last year. They are always connected, the only topics of conversation were doom from around the world and the fear of political instability getting worse. With an effort for much of 2024 they've reduced time connected. We only have news from TV for an hour between 6.30 and 7.30pm BBC or Channel 4. No more twitter, facebook nor instagram. I noticed an improvement in mood. - However recently Bsky has become a thing.

MarzipanCrumble

I have esckewed social media unless absolutely essential for something I need to do/see/interact with.  After sorted issue will turn it off.  I disliked FaceBook from the start because all you could do was 'like' and not 'dislike'.

Social media has been proven to embrace 'fake news' - to promote it to those who embrace it or even maybe 50/50 towards it for profit!  

Social media has its uses - exploit them yourself i.e. on a complaint to a company or asking for advice.

Jimbobdibob

[Deleted User] said:

Apart from contributions to 4 online forums and occasional online shopping I will only use the internet for information gathering. I have closed all social media.

Admire your outlook and (a little bit envious :-):smile: ) your financial position. None of my business but what are the other three forums?

Jimbobdibob

PS other than family WhatsApp I don't do any Social media 

Jimbobdibob

@[Deleted User], I retired from a very stressful (high paying) job at the beginning of the year, handed  in notice  the first work day in January, was immediately put on gardening leave for 3 months.

Lasted until April.I retired from something rather than to something.

Now working the best job of my life on minimum wage ish giving back to society. 

Bravepants

[Deleted User] said:

My financial plans for 2025 are very simple!

1) continue to pay £500 a month to replenish savings. 

2) continue to allocate £600 to £800 per month to various virtual pots in my second savings account for annual bills and things like Christmas, House and Garden, Clothes, Car etc…..

Although there is a travel pot I am not expecting to use it much this year owing to family responsibilities. I have managed to arrange for a short 3 day break in January and at the moment that’s it for 2025.

I am also fortunate to be in a position not to have to worry about having enough money. Something I have only really recently fully realised. My pension income is index linked and is more than adequate for my fairly uncomplicated lifestyle. I have no need to chase a little bit extra here and there. I can just let things tick along with little interference.

Mainly hoping for a year when family members stay healthy and hospitals figure a lot less in our lives.

I will continue with my daily exercises and swimming to try and keep a reasonably ok looking body lol.

Hopefully, responsibilities permitting, I will have some time to continue with and further develop some interests. 

Apart from contributions to 4 online forums and occasional online shopping I will only use the internet for information gathering. I have closed all social media accounts apart from one messaging service  the family use. I am also going ration my access to the news.

I am also avoiding setting targets for anything, but rather will step back and instead observe how things develop over time. 

Overall, I am going  to be happy in my own world and keep out the toxic influences of the bigger world. 

Your way of thinking sounds very much in tune with mine. I struggle to avoid the News even though the negativity bias is ever present. It literally is all doom and gloom that’s presented to us. When told that I should ‘stay informed’, I reply that I prefer to stay informed about things that interest me and bring me pleasure and useful knowledge.