Stoozing seems a great idea!

Angelina-M

I was really impressed with the stoozing section on tonights show. Is that guy a MSE'r do we know?

£11500 is a fantastic amount to make, especially as he was using it to pay off his offset mortgage. I have one of these and its important to keep as much money in the account as possible as it is calculated on a daily basis.

Has anyone else had any good results with this stoozing malarky?

I think I may just give it a go!

Well done :T

jo_b_2

Angelina-M wrote: »

Has anyone else had any good results with this stoozing malarky?

I think I may just give it a go!

There's a whole board dedicated to Stoozing HERE where you might see how well other people are doing.

You could also look at Martin's article which explains what stoozing is and how it works etc:
http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

Angelina-M

Many thanks Jo.

I have to own up here and say that I rarely venture out of my fave forums... they are where my friends are!!

I shall go and take a look. Forgive me for not being adventurous, I bet i'm not the only one!! :eek:

jo_b_2

Angelina-M wrote: »

Many thanks Jo.

I have to own up here and say that I rarely venture out of my fave forums... they are where my friends are!!

I shall go and take a look. Forgive me for not being adventurous, I bet i'm not the only one!! :eek:

I have to admit that I've never looked in there either! That's why I thought I'd better let you know there's a stoozing board, in case you'd missed it!

Angelina-M

I wonder how many of us can say we've never actually had a really good look around the board?

I sometimes have a quick look but don't recognise the names so I go back off to my safe place.

Keep your eye on me, I'll be on the programme doing my stoozing next year lol!

Martinslovechild

Angelina-M wrote: »

I was really impressed with the stoozing section on tonights show. Is that guy a MSE'r do we know?

£11500 is a fantastic amount to make, especially as he was using it to pay off his offset mortgage. I have one of these and its important to keep as much money in the account as possible as it is calculated on a daily basis.

Hiya

That guy is me!!

Glad you enjoyed watching it. I'd have loved to have gone into more detail on the subject of stoozing (as I'm sure Martin would) but time restraints didn't permit.

I'm also pleased to hear that you're doing something similar. Are you close to clearing your own mortgage?

Angelina-M

Martinslovechild wrote: »

Hiya

That guy is me!!

Glad you enjoyed watching it. I'd have loved to have gone into more detail on the subject of stoozing (as I'm sure Martin would) but time restraints didn't permit.

I'm also pleased to hear that you're doing something similar. Are you close to clearing your own mortgage?

Hi nice to 'meet' you!

I was very impressed, you looked as cool as a cucumber lol!!

I've just looked at your signature and that sounds amazing, however you can't have paid that off just by stoozing and careful planning... you must have had a lottery win!!

I'm waaaaay off paying mine off. In fact I'm thinking of moving away from the offset mortgage as its doing nothing for me right now... I owe more than I did last year!

MSE_Martin

MLC thanks so much for doing the film; I thought it was inspirational to see how you've managed through your finances and stoozed you way to so much success. Brilliant to watch (and you look NOTHING like me! )

PS For anyone considering it please read the stoozing article first.

Angelina-M

MSE_Martin wrote: »

MLC thanks so much for doing the film; I thought it was inspirational to see how you've managed through your finances and stoozed you way to so much success. Brilliant to watch (and you look NOTHING like me! )

PS For anyone considering it please read the stoozing article first.

Going a bit off topic here and I dont want to sound all sickly sweet but how many other presenters would care enough to ask... and take on board feedback from the public?

I've noticed Martin is on here every Wednesday, chatting with us and finding out what we thought of the show. Slowing down his speaking following advice on here.

Even the camera crew, when they came here to film, I expected that would be the last I'd hear, but Laura has kept in touch, thanking me for the support and asking how I am. I really am surprised with this lot at MSE, they are human like us!!

Keep up the good work :T

Martinslovechild

Angelina-M wrote: »

Hi nice to 'meet' you!

I was very impressed, you looked as cool as a cucumber lol!!

You're making me blush Angelina!!

Angelina-M wrote: »

I've just looked at your signature and that sounds amazing, however you can't have paid that off just by stoozing and careful planning... you must have had a lottery win!!

That's correct. It was actually a combination of stoozing & making overpayments. The TV crew wanted only to focus on the savings that I made using stoozing, and it was this that helped me save £11,500 in interest. However, I used the fact that my mortgage was almost completely at 0% since 2003 to allow me to make overpayments, thereby reducing the mortgage term substantially. In fact, combining the stoozing & overpayments, I actually saved somewhere between £50,000 & £60,000!!

Because it would potentially have confused or alienated viewers by combining a discussion about stoozing with a discussion about overpayments, it was decided that the overpayments bit should be left out.

Angelina-M wrote: »

I'm waaaaay off paying mine off. In fact I'm thinking of moving away from the offset mortgage as its doing nothing for me right now... I owe more than I did last year!

They're certainly not for everybody, but I'm surprised to hear that you owe more at this point. Certainly, if you're at all able to make overpayments (even by considering stoozing), then they work wonders...

Angelina-M

Thanks for that. You've certainly played the game and won. Your an inspiration to people like me who expect they will be paying off the mortgage until old age :mad:

If you have an offset mortgage though you arent 'overpaying' as such because the money is just sat in your account and they take that off the amount you owe at the end of the day. You mean you just sat the stoozing money in your account? Thats my understanding anyway.

The reason I now owe more is because I bought another property to let out and have the 'loan' sat in one of my pots. I pay out the minimum monthly payment on that but it gives me an overdraft of well over £100k... nasty!

I need to get it on a proper loan but I have had a family heartache/crisis recently so I'm not yet back on top form with my finances.

This year I'll crack into action....