Time to get serious

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  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    Thank you KC.

    I'm having a dilemma now, thinking about new goals etc!

    i might just keep putting money away until the end of the year using the same principles I have so far this year and take it from there.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Dilemmas... How to feed the obsession!? It's like an addiction!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    I have such a long way to go SJ that there is plenty obsession to go around (mostly round and round in my head)! I suppose the goals I set this year were just mini goals really to try and provide some measurement. With the interest rates dropping its not looking like a good time for us savers, so maybe time to diversify and look at p2p etc. The trouble is I am saving up in order to spend it when I eventually have enough.

    It looks like it will be bad weather this weekend, as I will be outside training both Saturday and Sunday I may get a bit wet!!! It's all been paid for already so there should be very little spent this weekend.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    I read an article after the rate drop saying that we need to thin k of different ways to grow our wealth and not be so afraid of stocks and shares etc.... When I read into FC it seemed a decent step that's different and potentially 6-7% return, so attractive. Other than load with cash there's nothing else to do as the autobid tool does all the work for you. When loan payments come back in, it'll relend it again until you turn autobid off, so you can work out when your money will be back to withdraw (we're thinking of 6-8 years towards a new kitchen for example).
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • smallholdingsister
    smallholdingsister Posts: 4,018 Forumite
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    Great progress over here. X
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    Thank you SHS.

    Thank you SJ for a clear explanation on the FC. Do they have such things as referral links, you are more than welcome to send me yours if they do. I'm quite tempted!

    The 123 interest has been added today, boo to it dropping soon :(
    That takes me to over 29,500 now :T

    I have two frozen workplace pensions, I get a yearly bit of blurb about how the fund in general is doing, but I've noticed it mentioned on here some people monitor their pensions. Does anyone know if these are different types of pensions, or should I be able to check on these that I have? I've no idea where to start.
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    The weekend was completely filled with the two days training - very wet and windy but still enjoyable.

    I was too tired to do anything else, luckily (well good planning actually!) there were a couple of meals I could just throw in the oven both evenings without much effort.

    I'm looking forward to the long weekend coming up, although lots going on again!
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    EatingTheElephant wrote: »
    I have two frozen workplace pensions, I get a yearly bit of blurb about how the fund in general is doing, but I've noticed it mentioned on here some people monitor their pensions. Does anyone know if these are different types of pensions, or should I be able to check on these that I have? I've no idea where to start.
    As a start, check the paperwork - it should tell you what it is, and contact details. Then read Martin's page on the main website here. And then go to edinburgher's thread on MFW here and get him to translate :o:rotfl:
    EatingTheElephant wrote: »
    The weekend was completely filled with the two days training - very wet and windy but still enjoyable.

    I was too tired to do anything else, luckily (well good planning actually!) there were a couple of meals I could just throw in the oven both evenings without much effort.
    I've had a thing recently about luck: "the harder I work, the luckier I get" - as you say, good planning :j:j:j

    Glad you enjoyed the weekend.
    I'm looking forward to the long weekend coming up, although lots going on again!
    I'm looking forward to it too :p
    :j:j:j
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    2023: the year I get to buy a car
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    Karmacat wrote: »
    I'm looking forward to it too :p
    :j:j:j
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    I think you might truly be looking forward to this weekend a bit more than I am :D

    Thanks for the advice too, will dig out paperwork soon - also have house insurance due soon too, so some more vigorous admin could be called for!

    £20.27 cash out from pa transferred over and accounts all ready to be dropped off at accountants (including vat return submitted). Hopefully I can keep this momentum going until the weekend.
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    EatingTheElephant wrote: »
    I think you might truly be looking forward to this weekend a bit more than I am :D
    I think so too :D
    Thanks for the advice too, will dig out paperwork soon - also have house insurance due soon too, so some more vigorous admin could be called for!
    As advice, it's a bit basic :o but it will get you started - I'm in dire need of a lot of learning about pensions myself :o


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    2023: the year I get to buy a car
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