Getting FIREd up 😀

Baileys_Babe

I can see the logic of clearing the car loan and then rebuilding savings.

Are you able to pay a lump sum off the car loan? Then you could retain some of your savings and reduce either the term or monthly amount.

South_coast

That's also an option, though I do tend to be an all-or-nothing kind of person 🤣

greent

Sounds like it makes financial sense to pay it off, SC - and you could say it's a money saving thing to do so, due to the rebate - which could then go straight back into your ISA. That, alongside your monthly car payments going in there means you'll rebuild the balance in no time! 😀

South_coast

It does feel like the right thing to do....

Sticking with the theme of following things through to their logical conclusion, I have applied to move Pension 1 into Pension 2. I think I've partly had a mental block on it because Pension 1 is from my first proper job after Uni, and I was there for 10 years and have lots of fond memories of it (whereas Pension 2 is from the job that nearly finished me off). However, I can't afford to be sentimental about a pension (🤦‍♀️), I need to go for growth! Pension 1 is up 11% after fees over the last year (great 👍), however Pension 2 went up by 16% in the same period (stonking 👍👍👍), so the decision is made.

Incidentally, I couldn't help but be slightly blown away by how much they've gone up overall. I knew what the values were, but I didn't really have any concept of what had been originally paid in. Pension 1 I paid into for 10 years and left 9 years ago. The total contributions (including employer and tax relief etc) were £13k and it's now worth £35k. Pension 2 I paid into for 3 years and left 6 years ago. Total contributions were £19k and on the March statement (ie before the transfer from Pension 3 was added) it was worth £36k. I know this is exactly how investments work, but it was still a bit staggering to see it there in black and white rather than just understanding the theory!

South_coast

You just know a property is going to be great when this is the cover photo on the listing....🤣

Baileys_Babe

I saw a listing the other day of an empty room as the cover photo for a property, it didn't look as good as the room in your photo 🤣

South_coast

Unless it has some stand-out feature like a swimming pool or an incredible view, I just expect to see the building as the main photo? Though I know which building that's in, and as I tend to refer to it as the gulag, maybe the estate agent feels the same way about it as me 🤣

South_coast

So I am back in the limbo land of waiting for financial institutions to move my money around for me *taps feet impatiently* 🙄 Hopefully it will all be in the correct place for 01/06, I have figures to post!

South_coast

I've just paid off my car 🎉

beanielou

Woohoo. 🎉