My Mortgage Reduction and Savings Diary

SuiDreams

Well Electric usage is under 5 KWH per day for last week, I was actually hoping that it would have reduced by a lot more than this, as we've hardly had the TV on at all. We had a slight problem with the media player we had connected to the TV in that it seems to have stopped charging so we have been watching most things on the lap top instead (which has been really good. I'm keeping a close eye on my spending for the next couple of months to see if I can free up some more money for the overpayments, as these aren't going very well at the moment. Dog 1 is booked for the vets on Friday, so this weeks budget will be quite tight (especially as I've just ordered some more front line off the net). Going to have a busy week this week, especially with work, so should be too tired to spend money anyway. Its my birthday next week so fingers crossed for things I need. Finally got my 5000 piggypoints last week so order £40 worth of clothing vouchers, hopefully they will come soon so I can get some new trousers for work. Need to sort through my boxes of presents to check I've got enough gifts for everyone. I'll hopefully have most people covered then will just have to buy for the neices and nephew. I should have plenty of cards and paper etc, think I've got crackers left over from last year so hopefully just the christmas food to buy.

StuartGMC

Your energy consumption figures are already low I think... I just did the check on our's (as annual average, not just summer quarter) and this gave electricity 14.2kWh/d and gas 39.0kWh/d

I know that as I only take 6hrs sleep per night in the week, and get up at 0500hrs means that I've had to turn lights on since late August when getting up each day and the Desktop PC is running from mid-evening to 2300hrs at night, it could explain some of this, but not all! I've some work to do here I think. Well done on your savings.

SuiDreams

We did cut back a lot last year, after a large bill, but we've let it go a bit. Our annual consumption after reductions was 2450 KWH electric and 9050 KWH Gas, but think this may have increased a bit so keeping a closer eye on things.

SuiDreams

Help, I need help with the home insurance, have done a few quotes and the prices for the coverage I want aren't good at all. So I think I may need to reduce my requirements a bit.

1) Excess - I currently go for a £50 excess, I never claim for small items due to excess and loss of no claims, (currently have over 5 years no claims, infact I have never made a claim).

2) Accidental Damage - I currently buy this for both buildings and contents, Do I really need it on contents? i am I likely to claim on this?

3) Family legal protection - I go for this every year, Do I really need it? Does anyone ever use this?

4) Emergency cover - again another thing I automatically choose, is this required, I currently pay BG for boiler and central heating cover but it doesn't cover electicals or pipes etc.

5) Contents - Personal possetions etc, again I tick this everytime, is this worth getting?

Any other tips from anyone?

Thanks

StuartGMC

SuiDreams wrote: »

Help, I need help with the home insurance, have done a few quotes and the prices for the coverage I want aren't good at all. So I think I may need to reduce my requirements a bit.

Do be careful in your consideration, wider cover with a higher excess may be the best option (we have £75 on present insurer, but getting online quotes and choosing different excess levels may show what savings you can make on premium?

1) Excess - I currently go for a £50 excess, I never claim for small items due to excess and loss of no claims, (currently have over 5 years no claims, infact I have never made a claim).

Try quotes at £100, £150, £250 to see the saving you might be able to make, but, take care there are no compulsory excesses too which you would be adding to.

2) Accidental Damage - I currently buy this for both buildings and contents, Do I really need it on contents? i am I likely to claim on this?

Does it make a big difference? Drop paint or similar on furniture or carpet, what replacement costs?

3) Family legal protection - I go for this every year, Do I really need it? Does anyone ever use this?

I would recommend this to cover you and family for issues arising.

4) Emergency cover - again another thing I automatically choose, is this required, I currently pay BG for boiler and central heating cover but it doesn't cover electicals or pipes etc.

We had a sewer problem in the road outside (you are responsible to about 6"/150mm from the mains even under a public road); it was lined and cost £75 (believe the fee otherwise was about £750), but if road closure and dig & replace had been needed then it could have been £8,000-12,000...

If you don't have this, would they cover securing doors etc if burgled? Worth establishing what would be covered if you don't have this cover via a phone call to them?

5) Contents - Personal possetions etc, again I tick this everytime, is this worth getting?

Usually needed for high value items and those taken out from the home (rings and other jewelry, camera, phone, laptop etc you may carry with you). You may review and decide it's not requried?

Presently we're with Zurich with a £511 renewal, and offer from DirectLine £345 but need to look at this in detail...

Hope you can get the cover you need.

SuiDreams

Well todays mutterings are about other peoples money and not my own. It seems a friend of my has remortgaged for a better rate, which is good, but it seems she has also been convinced to add her credit card debt to the mortgage. Then convinced to "upgrade" her current account to a Barclays Premier Life, "as it will help her to manage her money when shes away with work". I'm not sure how a packaged account can stop you going over your overdraft. Sorry but she's just had her 1st month of not going over her overdraft limit and had started to get things in order, I'm just worried that she believes that now she's got this account they will manage her money for her and she'll end up with charges all over again. Sorry rant over

SuiDreams

Well alot to do tonight finally got insuance renewal through so I now have a better figure for price comparrison purposes. For some reason I've had a letter from Inland revenue saying my tax code has gone down so need to go and speak to HR tomorrow to find out why. Also need to get MS money up to date as well.

SuiDreams

Well one task done insurance bought at £30 less than renewal with only £50 excess and accidental damage, legal expenses and home emergency cover. I'm pleased with this as most quotes were £100 more than the renewal with higher excess, even though I have 9 years no claims now. All paid for put it on cashback credit card (with no extra charge for paying by credit card), so should get 1% cashback. Right off to get my other jobs done.

StuartGMC

SuiDreams wrote: »

For some reason I've had a letter from Inland revenue saying my tax code has gone down so need to go and speak to HR tomorrow to find out why. Also need to get MS money up to date as well.

Was this simply amendment for the reduction to account for removal of the 10p rate?

StuartGMC

SuiDreams wrote: »

Well one task done insurance bought at £30 less than renewal with only £50 excess and accidental damage, legal expenses and home emergency cover. I'm pleased with this as most quotes were £100 more than the renewal with higher excess, even though I have 9 years no claims now. All paid for put it on cashback credit card (with no extra charge for paying by credit card), so should get 1% cashback. Right off to get my other jobs done.

Pleased that you were able to trawl the different offers and review cover between policies; improved product whilst also making a saving.. :T

Likewise we paid no premium for credit card, but in our case I am currently "assessing" the value from the points system NatWest run.