Statement of intent

StuartGMC

Thanks all regarding the comments on choosing to continue to pursue the role I'm in; but who said I'm not after more money? I'll need to formalise my summary of review at home but I think need to have an "intermediate" review in late Spring 2010 to see how things are at work and life at home, plus the new financial situation.

Hopefully once mortgage-free we'll have some 45% of our net income to be "disposable" i.e. saved for long term or short term needs. However, I would like to think we'll do more as a family together on weekends away etc because we haven't done so in order to keep costs down to clear mortgage.

Put another way, once MF it would in effect give a 16% increase over net income as available cash per month, which may be equivalent to a 25% pay rise... Now, we have a relatively low mortgage repayment per month so I think if you guys do this calculation you'll be surprised at the results.

Costs; well I can tell you that yes food/groceries are increasing. Similarly petrol has been rising since Christmas. Basically, a weak pound means anything we import is going to increase in price as new stock arrives in UK, so now may just be the time to grab an item you've been "watching" hoping price would fall? Oil is of course priced in US$ per barrel, and even though it has been languishing less than $40 for WTI (Brent has been trading at a much higher than usual differential) the price increase at the pumps must be caused by something more than just profit-taking surely

setmefree2

taka wrote: »

I start feeling old when I wander round the supermarkey going I remember when that was £1.

I know that feeling.

setmefree2

Stuart, just out of interest, would it have made any difference to you if your work travel in the other job had been in business class? I know many companies are making their staff travel in economy. I understand why as the differential rates between the two are now stupid imho.

Mr SMF2 travels alot. He now has to travel economy if he is going to the East coast of America but can still go business to the West coast. So he avoids travelling to the east coast because he finds the trip exhausting. He needs to be able to work on the plane. However, business class prices with most carriers have become stupid. The business cabins must be empty. Maybe the airlines will start reducing their business prices now there are no fat bloated bankers to occupy them. (Sorry for being rude to bankers:o but it's hard to be at the moment :rolleyes:)

frazzmunch

well done on all your acheivements so far stuart.:T ...i am sure you will make the right decision about work...:D

StuartGMC

setmefree2 wrote: »

Stuart, just out of interest, would it have made any difference to you if your work travel in the other job had been in business class? I know many companies are making their staff travel in economy. I understand why as the differential rates between the two are now stupid imho.

Mr SMF2 travels alot. He now has to travel economy if he is going to the East coast of America but can still go business to the West coast. So he avoids travelling to the east coast because he finds the trip exhausting.

SMF2, basically if we are paying then it is economy, if the client wants us there rapidly then they pay business class provided we don't get "stopped" by our own system and sent economy anyway! I've done a lot of travel longhaul in the past, and continue to do a small amount now so all the "interest" has been lost for me, it is just a long period of queuing and waiting around and on the longhaul being unable to sleep. So yes, I guess it would take the pain out of travel but I am more than concious of the costs, afterall it appears on my P&L....

In the end the decision has been one more based on a desire to continue with the change-management I'm implementing and wish to see to fruition, plus the staff management and development. In addition, I think a few more years managing staff would put me in a better position to move externally or internally but retaining (and increasing) the line reports I'd be responsible for.

But, that's for another year, right now, decision is made and I am happy with it, unless they make me an offer I can't refuse of course!

StuartGMC

:mad:
Just checked the post and NatWest have sent a letter to say they won't pass on any of the 0.5% reduction in BoE BR
:mad:

Let's see if they hold saving rates up.....

So if it was needed, more incentive to clear the mortgage. Perhaps I should note my disappointment and likely consideration of moving the banking away from them once MF? (However, I know why they've done it, and overall been reasonably happy with the services they provide so it would I guess be a hollow threat)

frazzmunch

nightmare...i hate banks!!! my mortgage provider has been very reluctant to pass on any changes in interest rate and because my credit rating is beyond total rubbish i cannot change my provider....i think i am still on a rate of almost 6% despite being on an svr!!:eek:

all evil these bank people.....:rotfl:

StuartGMC

Well it's pay day tomorrow :j

So, quick monthly update of the spreadsheets shows that our effective interest rate on the mortgage is now 0.55% so "bah to you NatWest I ain't gonna pay 4%"

Offsetting 89.48%
S&S ISA funds still down 45.5% even with the £300 per month going in

I'm clinging on to the capitalist dream that the markets will recover, but Ben Bernanke has predicted US not turning until 2010; so I think I should be saying "great more time to buy units in the Funds whilst they remain so cheap". I'm sure this'll make interesting reading in retrospect a couple of years from now, in fact today I saw an archived business article related to the massive oil and gas demands for pipelines in 2006, seemed like a different world. However I remember oil hitting US$10 per barrel in 1998, so things can and should pick up....

Repeat this mantra: "keep to the plan, keep to the plan" - :rotfl:
Warren Buffet said be greedy when others are cautious and cautious when others (the majority) are greedy, so I'm just hoping this will all come good. I know that there are many individuals who have pulled back from the markets, but they are the same ones who will wait until there is a stong sign of a lift, which will lose them the best growth opportunity. (That should convince me shouldn't it! )

It will however be much nicer once MF and also having rebuilt cash savings that we will consume in paying off in October because for a while the S&S ISAs will be a significant proportion of our accessible assets (plus a whole house ).

thriftyscotslass

StuartGMC - what can I say - bows down in respect - 8mths until mfd, well done you :T

StuartGMC

I have a confession; I've spent £5.95 just for the hell of it :o:o:o

We have the Experian CreditExpert service thrown in "free" with our DirectLine home insurance. So you get chance to see records, few updates etc but to get your credit score you have to pay.... I've held back since September "knowing" it would be fine, but today just had to give in out of curiosity

Well surprise, surprise on a 1-999 scale I got 999; perhaps they give you this number in case you get hoards of poor bankers beseiging the house trying to sell you loans as you are such a "good risk" and you need police help?:rotfl:

....but, maybe if Jaguar want to knock 50% off a new XF (they do want sales don't they?) I could get one tomorrow with that score! :D:D