The Senior Wonder Years!

WYSPECIAL

[Deleted User] said:

Although I continue to miss certain aspects of life as a teacher, it is quite nice not to have to rush about this morning getting ready for two days of INSET training at school! Particularly at the moment, as it is pouring with rain and looks gloomy outside. Oh well, I had  better get up and do those exercises lol!

I bet it feels like a proper retirement day! Enjoy it.

WYSPECIAL

[Deleted User] said:

After another rethink, I have changed my mind about paying the car loan off so early! I have decided that I want to keep my Cash ISA. The loan repayments are easily affordable. Instead I will concentrate on making overpayments as and when I am comfortable to do so. I made a good start in August with a £400 overpayment even before the first regular DD payment, which is due to go out in the next few days. I like the idea of the challenge to reduce the term by making overpayments.

I always look at the interest they are charging me against what I am getting on my savings. If it's cost neutral, or benefits me, then I'm quite happy to carry the debt knowing I could clear it whenever I wanted to.

Have a look at the stoozing section on the credit card boards. 

[Deleted User]

To be honest the amount of interest I am ‘losing’ by not paying off the loan immediately is minimal. I could clear it if wished, but have decided I would rather have more back up in the bank. I have no interest in stoozing, but thanks for the pointer. I have one joint credit card for household shopping which is paid off monthly and gains a few nectar points lol. The other card, which is only in my name, I only use 2 or 3 times a year to keep it ticking over and pay it off in full as soon as possible. This card also has a fairly decent credit limit should there be a serious emergency of any sort.

WYSPECIAL

[Deleted User] said:

To be honest the amount of interest I am ‘losing’ by not paying off the loan immediately is minimal. I could clear it if wished, but have decided I would rather have more back up in the bank. I have no interest in stoozing, but thanks for the pointer. I have one joint credit card for household shopping which is paid off monthly and gains a few nectar points lol. The other card, which is only in my name, I only use 2 or 3 times a year to keep it ticking over and pay it off in full as soon as possible. This card also has a fairly decent credit limit should there be a serious emergency of any sort.

With the mention of Nectar Points I assume that is a Sainsburys Bank credit card so will probably be sold on to a new issuer soon. I hope whoever it is has a loyalty scheme worth using as I have always collected Nectar Points and will miss the extra ones you get for shopping on your credit card.

Somebody

SuzeQStan said:

Sounds good Baron - Allowing a financial product to run is good for credit building as well - I’m toying with getting a interest free mobile phone loan as ever since our mortgage redeemed my (meaningless yes I know) credit score dropped.

 And I can only put that down to having no current running demonstrable regular payments.  Although September marks 6 months since mort finished so am hoping to see an uptick in CS - and will base decision on that.

To all those who will now jump on this saying credit score is meaningless - yes I know thank you however I am allowed to make
my own decisions as anyone else as opined by OP themself.

Do you not put all your regular spend on a cashback/reward credit card and clear the statement every month?

[Deleted User]

My older relative and myself only put our good shopping on the credit card which is paid off in full each month.
Everything else is paid by debit card or cash.
I am a MSE outlier lol. I do what is most convenient to me not what maximises financial gain. 

Organgrinder

I'm afraid I do everything I can to maximise my income!

I stooze. I switch banks. I get cashback. I use vouchers.  Etc etc.

I reckon overall I'm thousands of pounds up for very little effort. (If my hourly rate was anything like it in my work I'd be very rich).

But...I use it to pay for extra holidays or trips etc.

[Deleted User]

Organgrinder said:

I'm afraid I do everything I can to maximise my income!

I stooze. I switch banks. I get cashback. I use vouchers.  Etc etc.

I reckon overall I'm thousands of pounds up for very little effort. (If my hourly rate was anything like it in my work I'd be very rich).

But...I use it to pay for extra holidays or trips etc.

That is your personal choice and I for one will not criticise it. You have no need to be afraid. 

helensbiggestfan

Hi everyone.  Long time "no see". 

Organgrinder.  I am very impressed with your money making schemes. I really must try it myself, although I may decide to take a small mortgage out soon when I move house therefore I don't want to mess up my credit rating just in case.  So for now I will hang fire until after the move.  But it's definitely something I'm prepared to do.  As you say it doesn't really require any real effort.  

I've just finished a course of very expensive dental treatment (implants) so I would like to replenish the coffers.  I had set money aside and the final bill was less than I'd budgeted for but even so it would be nice to recoup some of the outlay.  

Have had a nice relaxing summer (apart from spending a lot of time in the dentists chair).  I haven't been away, again because of the time factor and fitting in all those dentist appts.  I probably won't go on holiday now until after I have moved house.  I don't mind.  Time enough next year.  

Baron.   Love the term "MSE Outlier". I guess I could describe myself the same way. I like "painless savings" but I still enjoy a nice little splurge now and again when the mood takes me.   

And I'm always prepared to pay for comfort and convenience and making life easier, such as first class rail travel, the odd taxi when I don't fancy driving.  I have decided to keep my car for another year or so but again when I've moved I shall probably get rid.  I just don't enjoy driving anymore.  

This year I decided I was fed up mowing the lawns, especially the rear lawn which is sloping and a bit of a faff.   So I decided to buy in some help.  I have found a great little handyman and I have started offloading some of the more unpleasant or difficult tasks to him.  

After all "why have a dog and bark yourself". 😂🤣. 

Sure I could manage to cut the grass myself and save money but he does it in a fraction of the time it takes me to do it and I would much rather do something else.  I will of course be looking for an easier to manage garden for my next property so I won't be paying for regular lawn mowing in the long term.  

It's all swings and roundabouts, making saving and spending choices that add value to our lives and give us pleasure. 

[Deleted User]

@helensbiggestfan Great to hear from you again. Many thanks for your update. You seem to do very well on your pension income. When you first posted you said you were managing on £12000 a year. I assume over the years this has now increased lol. How is the side hustle going?
We appear to have a similar outlook in some respects concerning money. 
I am interested in how you will manage to get a mortgage as you are retired. Am I correct in thinking that with a good amount of equity and a sufficient retirement income mortgage for 'senior' person is doable?
Take care and best wishes.