Just wanting to say hi!

atypicalblonde

Thanks setmefree, I think what is interesting is that 3 or 4 years ago I wouldn't have thought twice about shop bought lunches or sale splurges, but now these things are treats which I enjoy and appreciate far more than I ever did before.

Having a pants day at work, everyone is flinging their inbox dung at me, on the basis that at least it is off their desk and someone elses problem. Dontcha just hate email sometimes :rolleyes:.

So, to make myself feel better, I have figured out my personal savings plan. As I mentioned last night, I want at least £10k in savings that are only to be touched in case of a true emergency. The plan is to get to £7k by the end of the year (see signature for current progress). I know there are arguments that interest rates on ISAs are so pants it's better to pay it off the mortgage, but hear me out.

Our mortgage OPs are currently split entirely 50/50 between me and OH. When I get my payrise any additional OP is coming straight from me. OH doesn't *do* saving - his investment is into the house via his share of the OP. This is cool by me, but I am very keen on retaining my financial independence, which is something my lovely mum instilled into me - never rely on anyone else except yourself yada yada yada....

So that's the logic behing my savings. I am a bit cross though, as First Direct (who have just paid me £100 for opening a current account with them:D) told me that their ISA which links to the current a/c and pays 7% for the first year accepts transfers in from existing ISAs. I have just read all the guff on the application form and it doesn't. Pah.

Right, better do some work, if I want to have a hope in hell of leaving at a decent hour today.

xx

setmefree2

I agree - I like having savings too! Good Luck with your savings plan

StuartGMC

I agree in essence, but we rolled all into one when going offset. However I actually pay the majority of investments for me and OH (separate ISAs), but I like investments, savings, no loans, cash, nice cars, good wines, being nearly MF, holidays..... mmmm, I still seem to need money, so guess I won't retire at 45

setmefree2

StuartGMC wrote: »

so guess I won't retire at 45

I can't retire at 45 because sadly I'm already 47:eek: I think I'm the oldest poster on the MFW board!

atypicalblonde

Morning All,

Thanks as ever for the comments and encouragement. Stuart, I wholeheartedly agree with your plan, for us I guess it works better to keep things separate at the minute (I'm only 23 and the savings I have are built up from my ebay sales and summer jobs whilst I was at uni, so I'm quite precious about them).

Re. cars - we are just the same. I think that is the one thing that will always be our vice. Our car insurance is very high - a combination of my age and the fact that our car has a 2 litre engine but we love it so I don't mind spending the money.

I have nearly filled my ISA for this year, so have applied for a regular saver account with the building society. You get an annual bonus if you only make one withdrawal per calendar year, which suits me down to the ground. Plus it will be a nice little contribution to the OP annually.

xx

setmefree2

atypicalblonde wrote: »

I'm only 23

Blimey I'm old enough to be your Mum - but thankfully not your Nan Lol.

atypicalblonde

Lol setmefree

I have always had a pretty old head on young shoulders, and my parents always OP'd their mortgage, so I thought it was just 'what you did', and boy am I glad they have set me such an example!

I've just booked us a weekend away to the coast in October - staying in a lovely B&B for two nights - £150 all in. It's the best rated B&B in that area on Trip Advisor, and looks pretty fabulous. I'm excited already

StuartGMC

setmefree2 wrote: »

I can't retire at 45 because sadly I'm already 47:eek: I think I'm the oldest poster on the MFW board!

Don't panic
1) I'm 45 next March and no I won't retire
2) Remember your rate of increase in age is half that of a 23 year old - those youngsters are ageing proportionally much faster than we are :rotfl::rotfl::rotfl:

setmefree2

atypicalblonde wrote: »

I have always had a pretty old head on young shoulders, and my parents always OP'd their mortgage, so I thought it was just 'what you did', and boy am I glad they have set me such an example!

I've just booked us a weekend away to the coast in October - staying in a lovely B&B for two nights - £150 all in. It's the best rated B&B in that area on Trip Advisor, and looks pretty fabulous. I'm excited already

We talk to our kids quite a bit (hopefully not too much) about our desire and plans to be MF. I hope that this will help them in the same way that your parents have helped you....fingers crossed.

Trip to the coast sounds fab:D

atypicalblonde

setmefree2 wrote: »

We talk to our kids quite a bit (hopefully not too much) about our desire and plans to be MF. I hope that this will help them in the same way that your parents have helped you....fingers crossed.

I think what you are doing is wonderful - my mum set me an excellent example when it came to managing my money, understanding interest rates etc. - all useful tools that unfortunately children aren't taught in schools. If you don't set your children these sorts of examples no-one will.

I've had a really productive week so far in terms of money saving / managing. I have sorted out my second savings account, sorted out my new First Direct account and sold a couple of bits on ebay. Work is VERY quiet so I have managed to do all these bits during the day . I know the quiet period won't last forever though, so I may as well get myself as organised as I can be for the inevitable post-summer rush that will be upon us before we know it :rolleyes: x