Hurrah, my MFW quest has started

StuartGMC

ATT
Good to see all is running to plan. I think you're right to look carefully at interest rates and take a considered view on the stoozing, especially if there are any initial fees.

abouttimetoo

abouttimetoo wrote: »

I'm all on track for this months Op of £500. Hope all your plans are going well

Hmm, best laid plans ay. I've had an awful month on the money front so much so that I've erred on the side of caution and only made an OP of £100 rather than the planned £500. Here's why:o

• House alarm broke and needed repairing instantly as it it kept going off everytime I walked in the door
• Spent more money than planned on holiday
• Spent more money than planned on two birthdays
• Had expected tenant to be in BTL but it fell through, my BTL reserve fund is at an all time low having just redecorated, repairs, carpets etc

All in all I've decided that the safest course of action is to OP by less this month

abouttimetoo

Now for a more positive note...

• Had positive viewing on the BTL this week
• BTL looks lovely once more following maintenance after latest tenant left
• Share prices creeping up
• Sold a couple more books on ebay
• Lots of 'big' housework jobs done e.g. bathrooms, kitchen etc

setmefree2

Well done on your progress :T, might not be as much as you'd like but it's still progress :D

abouttimetoo

Well I've just applied for (and been granted!) a 0% purchase credit card. This was on my to do list for this year but I'd been hanging back a bit until some of the stooze monies were repaid as I'd thought that large outstanding balances might impede my application. I also thought what with the tightening up of credit I might only get a tiddly limit which would not make it worthwhile, however, despite having an embarrasing amount on stooze still - as well as a large available credit on my own credit card -my application has been agreed and a limit of £5750 along with it!

The 0% on the purchases is for 12 months which is a great deal and will more than cover my normal expenditure and I can stash all the money I would normally use for the monthly payments in my savings account. I'm very pleased :j

abouttimetoo

abouttimetoo wrote: »

Well, I've sold some of the shares this week and made a profit of just short of £2500 so I'm very pleased about that. I really would have liked to have kept them for longer but I've had to turn some of them round for a few of reasons

• the open offer share certificates are due out in less that a fortnight so I was expecting the share price to drop as others take their profits
• I'd 'borrowed' from my stooze money to do the share purchases and this made me somewhat nervous so I wanted to take my profit and restore the stooze funds
• I've made a 74% profit and I don't think anyone can grumble at that and I didn't want to be too greedy:rolleyes:

I haven't sold all the shares and I'm pleased to say I can now afford to sit on them for a while longer

Yes, yes, I know i'ts just greed and I was lucky to make such a good profit but... I can't help noticing that Lloyds shares are up to £1.04 today so if i'd held my nerve for a little longer that £2500 profit would have been £5500.... On the plus side I didn't sell them all :rolleyes:

abouttimetoo

Hi all, oh my goodness, it feels like ages since I've updated my thread:o

I've just updated my signature (yay, my favourite time of the month) and the numbers are coming on nicely though I am a wee bit behind where I want to be to meet my year end target so must try harder. I've just noticed that if I overpay an extra £14 this month it will drop the interest only part to 86,999 and I love it when the thousands change so when I've finished this post I'm going to send the £14 through:rotfl:

Work is just so busy at the moment with no sign of letting up so I'm really missing reading everyone's threads and updates so I hope you are all doing well.

The biggest financial thing on my mind at the moment is whether to sell my BTL. I never intended it to be a long term thing and the housing market seems to be picking up nicely in my area, but of course the biggest thing for me is the amount of equity that is sitting in the BTL which would make massive inroads into my MFW journey.

setmefree2

well done on all your progress:T:T

StuartGMC

ATT
Whilst markets are picking up in some places (locally some claims of highest sales rates since 2004...) expectation is that prices will lift later. I guess timing all depends upon your requirements, tax etc. If you want to sell before Christmas then you may need to put on the market soon otherwise wait for Spring?

Best wishes in deciding the optimum route for you.

abouttimetoo

Goodness me - look how long it is since I updated my diary! I just don't seem to have a second to come on here at the minute as work and everything is so busy but don't worry I'm still beavering away at my MFW plans

Just to report that I've made and OP of £500 this month so I think I'm on track for my end of year target and then can look forward to the MFiT T2 challenge. I now really don't think I'm going to meet my stretch target but it was a bit ambitous and I have bought a lot of shares this year

The next big financial thing I will do next week is pay the biggest stooze pot back - I haven't got the figures to hand but it's a touch over £16, 000 and I'll be pleased when that's done; it's alright having the money in your account but I still don't like looking at the monthly credit card balance when it comes through

hope you are all well

regards