The Edcawber Principle

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  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    edinburgher wrote: »
    I picked up more Amazon vouchers last night and ended up in the unique position of hitting the maximum possible points in a month (100,000). Was up until 11 adding the vouchers to my account :rotfl:
    Rats, is that the Morrison thing? I'm feeling cheated :D

    Lovely convo on here, thank you all :)
    2023: the year I get to buy a car
  • edinburgher
    edinburgher Posts: 13,463 Forumite
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    Why cheated?
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    Oops, not seriously ... if it *is* the Morrisons offer, I don't have one near enough to go for it, thats all!
    2023: the year I get to buy a car
  • greent
    greent Posts: 10,671 Forumite
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    edinburgher wrote: »
    I picked up more Amazon vouchers last night and ended up in the unique position of hitting the maximum possible points in a month (100,000). Was up until 11 adding the vouchers to my account :rotfl:

    We spend roughly £1k a year with them, so will pick up more if Mrs E can get a temporary card. It's a bit surreal spending so much at once, but it's basically a 6.25% discount on Amazon which is the seller who gets most of our money after supermarkets and don't typically offer % off. We'll have to withdraw money from 3% and 5% savings accounts to pay for them, but I'm ok with that as the discount was worth more than the interest.

    Good discount :) We never shop at M's though -have to pass T, A & S (and A & L discount ones) before we get to M, so not usually worth our time. We fund most of our Amaz0n shopping through tcb/ quidc0 withdrawals (so 'free' money of sorts + small bonus rate) and any extra required through vouchers purchased at a discount of 3% through perkb0x - where we also get Sainz at 5% and Tesc0 4% discount. We purchased a chunk of smkt ones last year on 0% CC and then drip fed it back to the CC as we used the cards. Means I have to plan my shopping a bit more (as I also still like using A1di, but no discounted cards available for them, sadly :() but it's financially worth it :)
    I am the master of my fate; I am the captain of my soul
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  • edinburgher
    edinburgher Posts: 13,463 Forumite
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    Great shout re. TCB bonus rate greent, that's as good as a decent savings account these days :T

    I have used the extra Mr T's points reward in the past as these get converted into V1rgin Miles (I am a whisker away from two return flights to Florida) :j

    We're a mix of Mr L, M and S (mostly for the YS bargains).


    Managed to pick up some cracking bargains for Mrs E's 2018 stocking on my lunchbreak - a nice box of bath melts (we'll see how these look by :santa2: - £14.99 to £4.50) and what looks like popcorn on the cob? Bung it in the microwave, looks quite jolly and I figured it would make for a fun movie night on the couch :D I'm trying to move to less waste this year (50% reduction would be nice). To that end, I'm trying to only buy things that are consumable within a realistic period, or that will last forever and be used frequently in the house (fun stuff, not ironing boards)...

    Edit: although we do need a new iron :think:
  • ZTD
    ZTD Posts: 24,327 Forumite
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    edinburgher wrote: »
    1. As in provide a floor for her investments? Definitely not, because a) !!!! happens and b) I don't see how I'd even calculate that - never let the amount fall below its maximum value?

    No, I meant that if you did decide to give her an "Interest Rate" instead of an investment rate - would you implement some kind of "impairment" if there was a stock market crash (Instead of the bull market you're concerned about). It would be the other side of the coin... ;)
    edinburgher wrote: »
    2. I meant a magical super bull market on top of the one we're already experiencing! I think this bull has legs for now.

    You not concerned about the cracks appearing around PCHs?
    edinburgher wrote: »
    3. I think that would be unfair to her as there are no guarantees in life bar the love of your parents, death and taxes.

    I meant "Risk Free" in the same way that gilts are "Risk Free". I probably should have put "quotes" around it.
    edinburgher wrote: »
    I fully expect to see multiple recessions before she comes of age, it's part of life in our economic system. I am confident that investing is the right route.

    Would anything cause you to doubt that?
    edinburgher wrote: »
    No fixed age for DD to get her nest egg. Various factors such as reaching the age of majority/choosing a career or education/wanting or not wanting a house/relationship status will be considered. Choosing differently to what we might like will at no point preclude her from getting the money, we just want to see what direction her life is taking before throwing her a pile of money.

    And whether she gets it as a house, a car, Amazon vouchers or you blow it all on hats... ;)
    "Follow the money!" - Deepthroat (AKA William Mark Felt Sr - Associate Director of the FBI)
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  • beanielou
    beanielou Posts: 90,292 Ambassador
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    So sorry to read about the death of your mentor.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

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  • edinburgher
    edinburgher Posts: 13,463 Forumite
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    ZTD wrote: »
    1. You not concerned about the cracks appearing around PCHs?
    2. Would anything cause you to doubt that?

    Numbers as my quote button is playing silly !!!!!!s.

    1. Not really, I suspect that some sort of awesome misselling dealy will come along and had huge checks to anyone who ever had a car lease :rotfl: As indicative of a wider malaise? Again, not really.

    2. Your suggestion re. guaranteed savings rate for DD seemed that way inclined? But then again it was late and while I always enjoy your well thought out contributions, you do make me think of this section from 'Keep the Aspidistra Flying' rather a lot:
    'Many happy returns,' said Gordon.

    'Your birthday today, sir?'

    'Only metaphorically. My re-birthday, so to speak.'

    'I never had much education,' said the taximan.

    'I was speaking in parables,' said Gordon.

    'English is good enough for me,' said the taximan.

    'It was the tongue of Shakespeare,' said Gordon.

    'Literary gentleman, are you, sir, by any chance?'
  • AlexLK
    AlexLK Posts: 6,125 Forumite
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    badmemory wrote: »
    The reason they wouldn't is because their parents (as in both sets of) taught them the value of money, it's uses & what could go wrong. Would either of you, knowing what you know, give an 18 yr old unrestricted/undifined access to £250k? I certainly wouldn't. At least not unless I could provide that every year ad infinitum. Any parent should know this is just asking for trouble.

    Thanks, badmemory. :) I hope I manage to teach my son about the value of money, its uses and what could go wrong by the time he goes to university. If I can do that, I'll feel I've done one job as a parent well.

    I don't think my parents ever quite understood parenting, to be honest.
    edinburgher wrote: »
    The job sounds great Alex - you're working with something that you are obviously passionate about - there is no shame that teaching wasn't for you. I think you have taken the best bits of your parents' obvious desire to create a human legacy and combined that with the obvious importance that you attach to our historical 'legacy' to pick up a career that you could be very happy with :T Do you think that teaching was perhaps something you felt that you 'had' to do in an attempt to 'give something back'? Because everyone contributes differently :)

    Thanks Ed, certainly enjoying it so far. :)

    Re. teaching, I think you're right. I wanted to give something back. Selfishly I suppose I thought I may start to like myself a bit more for being a "good" person completely transformed from the arrogant and selfish individual whose photo I have to see every day in my sitting room as my wife insists on displaying one of our wedding photos. That's a recent thing, for quite a few years I asked she display a photograph of just herself because I spent a lot of years really loathing myself. I realised as I left the teaching course is that everything I've done in my life had led to that moment: I wouldn't have my son if I hadn't taken Mrs. K. for dinner because her old car was faster than my old car, I wouldn't have changed my outlook in life had I not wanted to end the life I had and I would still believe money grew on trees had I not navigated through a few financially difficult times.
    edinburgher wrote: »
    Ps. Buying a house might avoid paying interest to a bank, but there's an opportunity cost to tying up a large sum of capital in the property that could potentially be invested more profitably elsewhere. So unless you find a property that is a great investment (for example, one that you renovate with sweat equity), you may just be trading one cost for another ;)

    That's very true. :) Always good to hear another perspective to make me think about how I view things and if it is necessarily the right way. Always attempt to take comments on board. :) Fortunately, this house has proven to be a good investment. However, there is no opportunity to see a profit at the moment because we are living here. You have given me some not so helpful thoughts about making more from other opportunities rather than overpaying the mortgage, though. :o
    edinburgher wrote: »
    I wouldn't! It's also worth remembering (sorry Alex), that this was quite a while ago, it would probably be a lot more than £250k now :eek:

    Not sure if you're apologising due to the shame of it or because you're reminding me I'm getting past my prime. :p
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • edinburgher
    edinburgher Posts: 13,463 Forumite
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    It's hard to forgive ourselves for who we were, eh Alex? :o

    I was only talking about the shame, not saying you're past your prime. Anyway, I thought we were a similar age? I'm knocking on the door of 35.
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