Hurrah, my MFW quest has started

abouttimetoo

Just updated my signature - check out my interest only one - it has dropped below £94k for the first time, I'm sooooo happy:D

SmlSave

:beer: Congrats!

abouttimetoo

Oh my goodness - I've just stoozed £20,000 - gulp! :eek: I've got it all at 0% but 16K of it is for 12 months and the rest until June next year. My big dilemma is what to do with it as to be honest the only reason it came up today is that I was about to make an investment (yes, I know, they can go down as well as up) and instead of using my savings I thought I'd do it on 0% so I rang CC company to make enquiries about £5k only and then when they said the amount I could do when I thought about it I thought why not!

So I'm going to use 5k of it for the investment but here is the dilemma – what to do with the rest – savings, sum lump sum off the mortgage, more investing than I’d intended…

Arrgh, need to go and think – all comments welcome!

abouttimetoo

Well, I've sold another two books on ebay - that makes 5 so far - I'd like to say it means 5 spaces on the bookshelves but it doesn't as I have shelves and shelves all doubled up with books IYKWIM

One thing I must get around to is researching where to send my old mobile phones to - I've heard quite good reports about Mobay - I just need to find the time - maybe less lurking on MFW might help

StuartGMC

ATT
Good luck with the plans to make that cash work for you, markets are very volatile for example our ISA S&S funds are down 50% but these augment our savings we offset by and we hope that in 10yrs they'll pick up plus still buying as the units are of course cheap at the moment. Can you afford to lose the £5k or at least not have to call upon it when stoozing ends?

Your plans of course will relate to how you'll repay the £20k so I hope it does work out well.

EssexHebridean

LOL @ the books thing - I totally sympathise, I too hate having to get rid of them but have decided now that enough is enough and I simply have to thin the shelves out a bit!

Does anyone else dread coming to the end of a really good book because finishing it means you won't be reading it anymore?! :rotfl: I often either slow down towards the end, or put it aside while I do other jobs to slow the whole process down!

taka

EssexHebridean wrote: »

Does anyone else dread coming to the end of a really good book because finishing it means you won't be reading it anymore?! :rotfl: I often either slow down towards the end, or put it aside while I do other jobs to slow the whole process down!

Yep... usually after I've been up half the night reading it... :rotfl:

Optimisticpair

abouttimetoo wrote: »

Oh my goodness - I've just stoozed £20,000 - gulp! :eek: I've got it all at 0% but 16K of it is for 12 months and the rest until June next year. My big dilemma is what to do with it as to be honest the only reason it came up today is that I was about to make an investment (yes, I know, they can go down as well as up) and instead of using my savings I thought I'd do it on 0% so I rang CC company to make enquiries about £5k only and then when they said the amount I could do when I thought about it I thought why not!

So I'm going to use 5k of it for the investment but here is the dilemma – what to do with the rest – savings, sum lump sum off the mortgage, more investing than I’d intended…

Arrgh, need to go and think – all comments welcome!

Oh my giddy aunt. That is a lot of dosh to give back if you haven't still got it on hand. I would stick it in the offset or high rate savings but then I am an absolute and total wimp.

abouttimetoo

StuartGMC wrote: »

ATT
Good luck with the plans to make that cash work for you, markets are very volatile for example our ISA S&S funds are down 50% but these augment our savings we offset by and we hope that in 10yrs they'll pick up plus still buying as the units are of course cheap at the moment. Can you afford to lose the £5k or at least not have to call upon it when stoozing ends?

Your plans of course will relate to how you'll repay the £20k so I hope it does work out well.

Hi Stuart

Re can I affiod to lose the 5k - errm, obvioulsy would prefer not to but I would be ok if it happened. I know there is no such thing as a certainty but the area I'm thinking of investing in is one I'm pretty comfortable with so fingers crossed that it plays out as I hope. I'm doing that awful thing of 'if only' as I meant to buy some shares last Tuesday and got so tied up with work that I didn't get around to it until Friday by which time the shares I'm interested in (more than one) had gone up by a total of nearly two pounds..... In the end I didn't get them Friday either as the sharedealing line rang and rang and after 40 mins of trying the market had then closed so I must get onto it in the morning!

I know exactly what you mean by your ISA S&S being down by 50% - I'm in just about the same boat but again like you I've always looked at the longer term

PS - mind still whizzing about the £20k:rolleyes:

abouttimetoo

Optimisticpair wrote: »

Oh my giddy aunt. That is a lot of dosh to give back if you haven't still got it on hand. I would stick it in the offset or high rate savings but then I am an absolute and total wimp.

Hi Optimisticpair

Yes, I'm a bit of a wimp too What I'd love to have the bottle to do is whop the whole lot into Shares :eek: but I just don't have the nerver to do it so at the minute I'm planning to invest £5k to-morrow (which was the original plan but to do from savings) and then I'm still looking at what to do with the rest but might make additional £5k in shares in the coming weeks but apart from that it will be going into high rate savings.