The Money Thread...

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Glowy69
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PostThe Money Thread...
by Glowy69 » Mon Jul 28, 2014 7:30 pm

Couldn't find another one, search won't work. Just thought I'd maybe start a thread..maybe we can help and advise each other.

Since coming out of my IVA two years ago and starting working for nationwide, I've become all kinds of obsessed with money, checking my credit file on a nearly daily basis, ( even though it changes monthly :fp: ), I've managed to fix my credit file after nearly destroying it, trying to save as much as I humanly can. I check my internet bank everyday. And I'm reluctant to spend money on anything that couldn't be put to better use going towards a deposit for a house.

So, yeah anyone else slightly obsessed with money, in any way? Savings, spending?

I really want a PS4 for one game, and it's taking all my willpower to resist it. :lol:

Just earnt myself £125 switching to first direct, mind. :datass:
Last edited by Glowy69 on Sat May 23, 2015 12:07 pm, edited 1 time in total.
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Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Slayerx
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PostRe: The Money Thread...
by Slayerx » Mon Jul 28, 2014 7:38 pm

I'm currently saving a house deposit got a TSB account earning me 4.89% gross :datass:

I check my bank accounts everyday as I'm currently getting myself all set to apply for a mortgage next year.
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Prototype
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PostRe: The Money Thread...
by Prototype » Mon Jul 28, 2014 7:41 pm

What are you saving for? Old age?
Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 7:42 pm

[iup=3517697]Prototype[/iup] wrote:What are you saving for? Old age?

Being as I already said a deposit for a house, it thought it might kind of give it away?
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Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Mon Jul 28, 2014 7:42 pm

Isn't checking your credit report on a regular basis a very bad thing to do credit wise?
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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 7:42 pm

[iup=3517692]Slayerx[/iup] wrote:I'm currently saving a house deposit got a TSB account earning me 4.89% gross :datass:

I check my bank accounts everyday as I'm currently getting myself all set to apply for a mortgage next year.


6% with first direct regular saver. :datass:

I can only save £300 a month though.
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 7:43 pm

[iup=3517699]Lagamorph[/iup] wrote:Isn't checking your credit report on a regular basis a very bad thing to do credit wise?


No. It's free at noddle. Actually applying for credit a lot is a bad thing.
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Finiarél
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PostRe: The Money Thread...
by Finiarél » Mon Jul 28, 2014 7:52 pm

[iup=3517697]Prototype[/iup] wrote:What are you saving for? Old age?


He's already old.
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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 7:54 pm

[iup=3517706]Finiarél[/iup] wrote:
[iup=3517697]Prototype[/iup] wrote:What are you saving for? Old age?


He's already old.

:x strawberry float off.
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Lotus
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PostRe: The Money Thread...
by Lotus » Mon Jul 28, 2014 8:13 pm

I'm pretty good with money, and interested in personal finance etc, but...what's an IVA? :shifty:

I've got a debit card, no credit card(s), a current account, an ISA, a mortgage and a pension. Balancing those is fairly straightforward, and I don't really struggle for money or need to check/know when my monthly pay-cheque comes in (that probably sounds really smug, not intended), but I do fret a bit too much (probably) about saving and putting money aside for the future.

I know it's decades away, but how the strawberry float am I supposed to support myself when I retire? The state pension isn't worth gooseberry fool, and I can't see how I'm going to be able to put enough away myself, even working for the next 40 years or so.
Last edited by Lotus on Mon Jul 28, 2014 8:22 pm, edited 1 time in total.
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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 8:18 pm

An IVA is one step away from bankruptcy.

Individual voluntary agreement. I'd gotten myself into so much debt I was never going anywhere, so with the help of a debt insolvency practitioner, I'd paid back so much money a month for 5 years to clear my debts. 28 grands worth. It destroyed my credit rating, I was on the bankruptcy register for 5 years, it was a horrible time, but I learnt my lesson, albeit ruining 5 years of my life. I've now rebuilt my credit rating, I have a credit card, bank account, isa, and regular savings. I've got nearly 5k saved for a deposit but I want more.

I live comfortably but after what happened, it why I've become obsessed with money and day to dy banking.

You should see some of the states I encounter at work. :dread:
Last edited by Glowy69 on Mon Jul 28, 2014 8:18 pm, edited 1 time in total.
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Joer
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PostRe: The Money Thread...
by Joer » Mon Jul 28, 2014 8:18 pm

I tend to always have less than I think I do. I think i'm way over paying for my bills too but every time I try to cut down on things it seems like it's not all that bad what i'm actually paying. My phone and internet is at £33 a month, Sky TV is another £67. Gas is £40 and then another £20 for water and whatever I have to spend monthly on electric. I'm seriously considering getting a flat mate just to get those costs down as it's ridiculous the amount i'm spending at the moment. I've just worked out i'm spending about £800 for rent and all bills. Does that seem about right? I'm only bringing in on average about £1250 a month too which seems like a lot of money for food, bus fares and then anything else, but it always seems to go so darn quickly.

I've also got a credit card which I got to help build my credit rating up, had it for about a year or so and never owed any money on it, despite using it loads. Tried to increase my over draft by an extra £50 a month or so ago and got told no as my credit rating is rubbish. :|
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Grumpy David
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PostRe: The Money Thread...
by Grumpy David » Mon Jul 28, 2014 8:19 pm

Slightly obsessed with saving money, although am a very long way away from "Financial Independence" as made famous by Mr Money Moustache. http://www.mrmoneymustache.com/

I also like reading http://monevator.com/ for a more British focused blog.

Switched to Halifax last year (which they gave me a £100 for doing so) but the better long term benefit is a £5 paid in each month. Got a credit card giving me cashback so I use that instead of my debit card and pay it off in full each month so as not pay a penny in interest.

Pretty much gave up on cash ISA saving as interest rates were so pitiful, keep most of my savings in premium bonds (interest rate equivalent is 1.3% now 1.35% as of this month) for safe liquid cash with a bit of fun in case of a huge win, keep the rest in a stock and shares ISA in Vanguard's Lifestrategy fund which I'm trying to keep aside for the long term.

With London property prices being so mental, it'll be a while before I'm in a position to buy.
Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 8:20 pm

Do you check your credit rating mate?

Like I said use noddle.co.uk. It's completely free, they use callcredit as their reference but still gives a decent indication as to how lenders see you.
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Tomous
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PostRe: The Money Thread...
by Tomous » Mon Jul 28, 2014 8:23 pm

[iup=3517699]Lagamorph[/iup] wrote:Isn't checking your credit report on a regular basis a very bad thing to do credit wise?



I thought this too, so I looked it up:

When you apply for credit, the lender will pull your credit report and that will result in a hard inquiry: the type that actually has a negative effect on your credit score. But if you check your own credit report or score, you create a soft inquiry. That type of inquiry will not hurt your credit score.



So there you go.
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Blue Eyes
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PostRe: The Money Thread...
by Blue Eyes » Mon Jul 28, 2014 8:25 pm

I'm 31, no pension and only about £7,000 in the bank. That's my money. To be fair that's more than most people I know, but it's not appreciating in my current account. Living in London I'm no where near the stage of depositing for a house. I could certainly do with money advice. I don't overspend on stuff generally but I have just recently bought myself a bastard of a PC for £1,500 and a West Ham season ticket for £780 that is looking less a shrewd investment by the strawberry floating day. I need those pleasures just to make my dead end job seem worthwhile I reckon
. At the moment I'm single too. That gooseberry fool don't help. I need a partner to share the burden of a mortgage with me. Until that situation materialises I'm stuck where I am.
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Lucien
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PostRe: The Money Thread...
by Lucien » Mon Jul 28, 2014 8:25 pm

[iup=3517724]Joer[/iup] wrote:I tend to always have less than I think I do. I think i'm way over paying for my bills too but every time I try to cut down on things it seems like it's not all that bad what i'm actually paying. My phone and internet is at £33 a month, Sky TV is another £67. Gas is £40 and then another £20 for water and whatever I have to spend monthly on electric. I'm seriously considering getting a flat mate just to get those costs down as it's ridiculous the amount i'm spending at the moment. I've just worked out i'm spending about £800 for rent and all bills. Does that seem about right? I'm only bringing in on average about £1250 a month too which seems like a lot of money for food, bus fares and then anything else, but it always seems to go so darn quickly.

I've also got a credit card which I got to help build my credit rating up, had it for about a year or so and never owed any money on it, despite using it loads. Tried to increase my over draft by an extra £50 a month or so ago and got told no as my credit rating is rubbish. :|


Have you considered getting rid of Sky (£67 :dread:) or even cutting it down? You could use Netflix/freeview more? You could even cut out your TV licence (very easy to do).

£800+ a year for Sky seems like a lot.
Glowy69
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PostRe: The Money Thread...
by Glowy69 » Mon Jul 28, 2014 8:25 pm

[iup=3517727]Tomous[/iup] wrote:
[iup=3517699]Lagamorph[/iup] wrote:Isn't checking your credit report on a regular basis a very bad thing to do credit wise?



I thought this too, so I looked it up:

When you apply for credit, the lender will pull your credit report and that will result in a hard inquiry: the type that actually has a negative effect on your credit score. But if you check your own credit report or score, you create a soft inquiry. That type of inquiry will not hurt your credit score.



So there you go.


I check mine everyday :slol:
Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Lotus
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PostRe: The Money Thread...
by Lotus » Mon Jul 28, 2014 8:27 pm

[iup=3517723]glowy69[/iup] wrote:28 grands worth.

:dread:

Good that you're out of that hole, but strawberry floating hell. How did you get into so much debt? And where do you work?

[iup=3517724]Joer[/iup] wrote:My phone and internet is at £33 a month, Sky TV is another £67.

Bloody hell, £67 for Sky? Way more than I thought. You must be able to get some kind of combined deal to bring down the TV, internet and phone?
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Lucien
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PostRe: The Money Thread...
by Lucien » Mon Jul 28, 2014 8:29 pm

[iup=3517733]Lotus[/iup] wrote:Bloody hell, £67 for Sky? Way more than I thought.


Right? My TV bill is... £72 per year. That's Netflix/US Netflix, plus all the iplayers.

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