Statement of intent

StuartGMC

Mortgage_Reduction_Novice wrote: »

Stuart... sounds, as always, like you have everything under control and you know what's going on with all your pennies. Hope the family is well.

Well, I hope it will be true eventually; at the moment the cash differential with the mortgage offset 100% is not very good as it is only just positive (increased a lot above this if you look at the ISA Funds total value of course).

"I think I think I know what I'm doing" but in full recognition that I have a lot, lot more to learn.

We may see an IFA (fee-based) to review overall financial planning including inheritance etc soon, but I believe we will be in a much better state to discuss planning based upon what we are doing and have learned thus far than to have gone to one cold. Actually, we had a free review with the bank in 2006 and all they could say was how well were placed in our planning and agreed we were doing the right thing, plus a comment that yes, the too believed we could look at investing and to advise them of our risk preferences.

StuartGMC

DD is ill tonight with a fever/chill; something that is affecting many children at her school. So the heating is now on (I'm not so cruel and heartless as people think you see ) but set to 17°C on the thermostat.

SmlSave

Hope DD feels better soon Stu and the rest of you don't come down with the same.

Well done on for putting the heating on lol

setmefree2

StuartGMC wrote: »

DD is ill tonight with a fever/chill; something that is affecting many children at her school. So the heating is now on (I'm not so cruel and heartless as people think you see ) but set to 17°C on the thermostat.

Hope she gets better soon. Both my boys have been off recently. When our youngest was off nearly half of his year group were out!



Stuart we don't think you are cruel and heartless - you seem a very caring soul to me :A Nothing wrong with trying to save the planet for DD and her peers Tbh we never make it to November with the heating off. I think we need to do something serious with our front door in order for that to occur (maybe in the spring next year)

I heard on the news that China had produced £10 million cars this year - made my blood run cold. Apparently the answer to all our problems (ie the global imbalances) is for China to consume as much as the West :eek: Oil is $81 this morning....

Best wishes

SMF2

StuartGMC

There is a lot of illness in the region it seems with some schools with many, many children off.

Not sure those who know me well would put me in such glowing terms, not when balanced with my other "attributes"!

Regarding China etc, it really is a difficult issue; their population like everywhere else wants the same thing for themselves and their offspring - simply, a better quality of life. The easiest way is to use existing technology, now there have been some notable good things like that in many countries which had no phone network, they jumped copper wires and went straight to wireless/mobile. If you want personal transport there are presently no viable alternatives to cars with internal combustion engines, and as electricity demand rises (heating or air conditioning) the fastest plants to build are gas, oil or coal fired. The real need is to assist in technology-transfer for new build plants which have the highest efficiencies and the potential for carbon sequestration etc.

Remember, Europe was forested until we cut it down for firewood and farmland...

I hope that we can move forward to adoption of cleaner technologies via cooperation so we all benefit, but, remember the US refused to sign up to limitations of greenhouse gas output to "protect" their industry...

Like trade protectionism failure to agree a common basis for everyone to move forward and for us with the technology to make it available such that developing nations can afford it, without worry over patents etc is the crux of the issue now. Your electorate will be looking at the present for their consideration of government and benefits from them, not voting on a future possibility some 25-50yrs off.. that is human nature.

**steps off of soap box** sorry bit heavy that!

StuartGMC

StuartGMC wrote: »

DD wanted music on her phone the other day before going to the GirlGuiding "Big Gig" in Wembley (OH went too as a Guider to "help" - odd she too has a sore throat today, must have got carried away!). Phone only has 42MB built in (10x more than the memory I had in my first PC :rotfl:) so need to get a memory card, microSD.

Checked via TopCashBack and memorybits give 15% cashback, under the promos listed on TBC you can enter code for 20% and p&p is free. Add to this the fact that the 8GB cards are already cheap at £15 then it adds up to a bargain present for DD for her birthday. :j

TopCashBack has tracked the Memorybits already and it's £2.15 on a £14.37 purchase and free p&p

ScottishPower has likewise tracked at £60.00 since request to have them as a supplier on Sunday

Meanwhile TBC advise they are continuing to press LateRooms via an agency for the cashback so maybe I'll see it one day?

And finally £8.00 has become payable so is being transferred to my PayPal account

gallygirl

StuartGMC wrote: »

I think SMF2 and GG will be interested in this report on First Asia Pacific Leaders
http://www.morningstar.co.uk/uk/snapshot/snapshot.aspx?id=F0GBR04H7Y&isreport=true

Not reading unless it's good news . That sums up my investment strategy really :rotfl:

(actually just had a peek & it appears to be good, will read in more depth & also the Emerging Markets as OH's now in that).

Why oh why is it not possible to track things automatically when you are a regular investor . I wouldn't have thought it would be too difficult to build a model to automatically add lump sums each month. Obviously, although our investments seem big money to us, in the scheme of things they are obviously not otherwise such a programme would be freely available :rolleyes:

setmefree2

StuartGMC wrote: »

**steps off of soap box** sorry bit heavy that!

Not at all - I like abit of a debate. All for green energy too:D

StuartGMC

A bit of an update then;

Have applied for a Marriott Visa credit card which gives me Silver status on their hotel scheme and builds points too. I'm already a member so this should add up a bit and I'll have at least two weeks in their hotels in the US in Spring next year. It means once in a few years I can take the family away for a free weekend break for example.

Financially, the mortgage is 100% offset, and as the direct debit for payment and OP draws from the current a/c I'll simply take that sum from the offset savings to replace it, and also add the additional OP from it too. So the plan is that pot will reduce but remain 100% offset until our cash position allows us to just clear the mortgage in one hit. This money is in the NatWest 1st Reserve account which pays very little interest so there is no point having excess in it.

We have kept an e-Savings account dormant since 2006 as we needed to have all savings offsetting and this account couldn't be in that. Now we have savings in cash in excess of the mortgage, I've moved it there and also today moved £2600 from the current a/c to earn more interest as I've just been paid and have expenses in too. I had forgotten I could use e-Savings to pay the credit card, so from now on, I'll have the money in the savings account earning more interest than the current account and set the payment as always a day or two before due. Thus this £2600 will be for the bill to be paid on 10 November.

It makes it a little less easy to see our "savings" position, but it should work out better for a few pennies more interest and no additional hassle to do so .

Now we are hopefully looking at the start of the regeneration of savings in cash so we have a suitable sum in place allowing us to then drop the offset and clear the mortgage. The tricky part will be the rate at which we build between now and January/February and when to say we have sufficient comfort to do so knowing savings will increase each month anyway. That point at end of Feb between our 45th birthdays is in my mind the latest I want to clear it by, preferably sooner if savings pot allows.

In summary, the requirements over the next few months are:
1) Regenerate savings despite DD's birthday 1 December and Christmas
2) Confirm all budgetary amounts to establish rate of cash saving per month and hence that appropriate for FY2010/11 for Cash ISAs and Funds ISAs
3) Research further funds for our S&S ISAs for the increased investments per month available to give more diversification and potentially income funds too.
4) Research Cash ISAs and rates for 2010/11 from February
5) Sort out what holiday destination we want for 2010 and likely cost.
6) Continue to learn about investing and planning for the future.

setmefree2

with all that Stuart and I look forward to reading about all your progress.

Must be a great feeling knowing you could pay off the mortgage if you wanted to