Average stooze pot size?

PokerPortal

I have been reading up on stoozing all night and will certainly make a start with this myself, with the ING Direct instant savings account as stooze pot.
My mortgage is still fixed rate and a lump sum overpayment has a penalty. When the fixed rate ends I will use the stooze pot to pay off the mortgage.

But what I really am interested in is how big a stooze pot should I use? As big as possible? Or should i start small and slowly build it up?
How big would an average stooze pot be?

Many Thanks.

YorkshireBoy

Have you visited https://www.stoozing.com?

The answers to all your questions can be found in the articles and guides on the above website.

There's even a poll regarding "stooze pot size" in the forums.

If you've not been before, I'd read the guides on the homepage before delving into the forum boards.

Clariman

PokerPortal wrote

But what I really am interested in is how big a stooze pot should I use? As big as possible? Or should i start small and slowly build it up?

The size of the stooz pot you can accumulate depends on your credit history, your earnings etc, so there will be a limit of how big it can get. Whether you build it up quickly or slowly is down to personal choice. How much are you prepared to risk damaging your credit rating ?

YorkshireBoy took the approach of building his stooz pot very quickly and he has recently posted his first 6 month's stoozing results on the stoozing website. I took my time and gradually built it up to about £40K over 6 months before peaking at £85K last Christmas. It dropped down to £55K earlier this year, but is just about to head above £80K again .

YB wrote

There's even a poll regarding "stooze pot size" in the forums.

Sure is. It is here http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1123495373

Clariman

WallyMan

My experience is similar to Clariman.

I started in Feb this year and took about 2 months to reach a peak of £89k. Unfortunately this is now down to £48k. I had hoped to hit £100k but never quite made it.

I reckon it should be possible to keep an average £50k, providing of course you have the personal circumstances to support the credit applications

Clariman

WallyMan wrote:

My experience is similar to Clariman.

I started in Feb this year and took about 2 months to reach a peak of £89k. Unfortunately this is now down to £48k. I had hoped to hit £100k but never quite made it.

I reckon it should be possible to keep an average £50k, providing of course you have the personal circumstances to support the credit applications

That looks more like YB's experience than my own. My own was built up to £45K fairly quickly, then went up to £85K after 18 months, then back down to £55K and has only recently gone back up to £80K.

My stoozing experience is documented here
http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1117558494

Other stoozing stories in this thread http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1117557229

YorkshireBoy

Clariman wrote:

That looks more like YB's experience than my own.

Yes it does, although I only peaked at £72K in month 4 of my stoozing career. £89K in the pot after only 2 months is pretty impressive.

Clariman wrote:

YorkshireBoy took the approach of building his stooz pot very quickly and he has recently posted his first 6 month's stoozing results on the stoozing website.

Here's my half-year report...

http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1128128594

Robert_Sterling_3

The total credit used on 0% Credit Cards is about £1000,000,000.

WallyMan

Have to say I have been quite amazed how simple it was to achieve a large pot quickly. Just checked the offset effect over the 9 months that I've been doing this and have discovered slightly in excess of £2700 extra has come off my mortgage. Perhaps a few hundred quid as the result of cash in my current account but +95% is down to the Stooze pot.

My wife was so sceptical about doing this when we 1st started but has now began nagging me to get some more cards. Most amusing.

Does anyone also feel agrieved when paying off the balance at the end of the free period? Easy to forget it's not your money at the end of the day.

Have to say hats off to Martin and this most wondrous website!

thaylock

67K so far - after 3 months. After receiving my last card with a large limit I thought this is just getting stupid, i.e. I haven't been turned down for credit yet, they just want to keep giving their money away, too be honest I found it a little scarey because it's just too easy to get credit. But the next day I thought sod them, I will be applying for my next card next month.

thaylock

Is it worth it ? Well Al Mac, if ever our paths cross would you mind giving me £76 (I am sure you won't miss it).

I know this is only a small amount of interest, but money is money, £76 for 15 minutes work (time taken to make the application) sounds a pretty good return to me.

Martinslovechild

Al Mac,

Most stoozers have pots considerably bigger than £6K. My guess is that £50K is a more likely average.

If you don't offset, then £50K in a savings account would result in £52,636.65 after 12 months (at 5.15%) for a basic rate taxpayer - therefore £1318.33 after 6 months. Obviously, there are any BT fees to come off this amount, but it's probably the best paid job I ever had at £1000 per hour!!