Ned Nederlander Posted September 24, 2014 Share Posted September 24, 2014 My wife's on maternity pay so we don't split the bills 50-50. I pay the majority of them. So I've got about £600 'disposable' income from my PAYE job and about another £300 from self-employed income. I choose to overpay the mortgage, though, so I don't really see that. You're married but still split the bills ? Link to comment Share on other sites More sharing options...
Sweet Pete Posted September 24, 2014 Share Posted September 24, 2014 Low interest rates mean you won't make anything on a savings account of any kind. You probably save more in interest by paying it to the mortgage than you make in interest by putting it in an ISA. That's certainly my reasoning for paying over my minimum payment. Plus, though it's somewhat silly, I always like to start something right away so I feel like I'm making progress, so rather than paying the money into an ISA and waiting to pay it towards my mortgage in 10 years, by paying it to the account every month I feel like I'm getting more done sooner, even though the end result would still be the same. For the same reason, I will often take the earlier train towards Dumbarton for football games even though it terminates before Dumbarton and then I'll wait at the station for the next one to arrive and take me the rest of the way, even though that next train also passes through my local station, so if I just left the house 10 minutes later I would be able to just get one train straight to my destination. I'm quite odd in retrospect. Link to comment Share on other sites More sharing options...
The Ginger Prince Posted September 24, 2014 Share Posted September 24, 2014 I am absolutely horrendous with money. After digs, phone bill, child maintenance etc is paid I'm left with about £800. Still find myself skint before payday. Being a smoker and spending money on lunches, buses & trains every day is my poison. I could take a packed lunch (but I'm too lazy to make it) and could just get the bus (train + bus gets me home quicker) but I'm the worlds worst for money. I know this will result in some piss ripping but my poison for a number of years has been buying additional things on the Xbox. Whether it be maps for CoD, shitey games, packs on ultimate team (this is by far THE worst) I just can't seem to help myself. It's like a gambling addiction but for games. Yolo n aw that pish though eh. Link to comment Share on other sites More sharing options...
cracowjambo Posted September 24, 2014 Share Posted September 24, 2014 why do you have to pay wisbit money? He's not a virgin anymore Link to comment Share on other sites More sharing options...
Dariusz Posted September 24, 2014 Share Posted September 24, 2014 Also noticed a few folk saying that they overpay their mortgage. That seems strange to me given the low interest rates just now. Surely it would make more money in an ISA and you could build it up into a nice wedge which you use to pay a large chunk of your mortgage off when the banks inevitably hike the rates. You're lucky if you can get 2% on an ISA. What are Mortgage rates these days? 4% ish? Its a no-brainer over-paying your mortgage if you can. Link to comment Share on other sites More sharing options...
kev23 Posted September 24, 2014 Share Posted September 24, 2014 I know this will result in some piss ripping but my poison for a number of years has been buying additional things on the Xbox. Whether it be maps for CoD, shitey games, packs on ultimate team (this is by far THE worst) I just can't seem to help myself. It's like a gambling addiction but for games. Yolo n aw that pish though eh. I used to be horrendous with ultimate team around 2011. I was only 16 and my mum opened a bank statement and went absolutely crazy at me for spending quite a bit one day when I was off school 'not well'. I claimed it wasn't me and it must have been fraud. She phoned the bank, who contacted somebody who contacted somebody else and long story short it was clearly me. I got a hiding. Forgot to mention in my earlier post but I am bad for thinking a tenner is nothing. Going to buy a paper I'll take a tenner from the bank. Going to get juice. I'll get a tenner. Once it's in my wallet It goes 100x quicker than if it was in my bank. My savings account is actually in my mums name so I can't just dip into it for pointless rubbish. Link to comment Share on other sites More sharing options...
sjc Posted September 24, 2014 Share Posted September 24, 2014 He's not a virgin anymore That'll be why he's not as highly strung as before then...... Link to comment Share on other sites More sharing options...
DigOutYourSoul Posted September 24, 2014 Share Posted September 24, 2014 Been saving hard for a transatlantic holiday for the last few months so at the moment zero. Aside from that - after car, rent, bills, food, phone and gym im looking at around £450-£500 a month to spare, should be going up by a couple of hundred in the coming months. Also depends how my old friend William Hill is feeling during the month. Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted September 24, 2014 Share Posted September 24, 2014 Depends on the month really. I get periodsPoor love! Link to comment Share on other sites More sharing options...
rambunctious Posted September 24, 2014 Share Posted September 24, 2014 After paying pretty much everything (rent/bills, car, phone, insurance, diesel, food) I'm left with between £600-£900 per month, depending on the commission I make. I'd have to earn zero commission to only have £600 so that's pretty low, plus I'd likely be out a job if I did f**k all for a month! I managed to make it through uni with only a £600 student loan (I stayed at home and worked part time for the duration) so I don't really have any debt to speak of other than currently being about £500 into an interest-free overdraft from my former student current account. I'd like to think I'll have cleared that in a couple of months but I am pretty shocking at saving money so I fully expect to be in the same position come next September. Link to comment Share on other sites More sharing options...
Gaz Posted September 24, 2014 Share Posted September 24, 2014 I'm richer than a pipefitter. Probably. Given that I do f**k all because I'm married with a kid, I don't really need a disposable income because I have no time to dispose of it. Does the football count? Probably spend about £200 a month on that I guess. I give myself a 'budget' of £40 per week and regularly find I've still got £20+ left at the end of the week. Before the kids came along that would have barely done me one night at the weekend. Link to comment Share on other sites More sharing options...
philpy Posted September 24, 2014 Share Posted September 24, 2014 My wife's wages cover the rent, council tax and all the other bills. My wages cover petrol and food shopping, leaving us roughly around £1000 to last the rest of the month. I'm changing jobs next month resulting in a £180 a month drop. Link to comment Share on other sites More sharing options...
Zetterlund Posted September 24, 2014 Share Posted September 24, 2014 Also noticed a few folk saying that they overpay their mortgage. That seems strange to me given the low interest rates just now. Surely it would make more money in an ISA and you could build it up into a nice wedge which you use to pay a large chunk of your mortgage off when the banks inevitably hike the rates. The £100 a month extra that we clear off the balance would cost £170 at current rates, so we're not only taking the £100 off but also saving the 70. We've been doing this since we took out the mortgage 6 years ago and last year cut the term from 20 to 15 years which will save a huge amount in the long term. If all goes to plan we can take it down further at the end of the next fixed term and I may be mortgage-free before I'm 45, and the overpayments made will be worth it several times over. Link to comment Share on other sites More sharing options...
Suspect Device Posted September 24, 2014 Share Posted September 24, 2014 You're lucky if you can get 2% on an ISA. What are Mortgage rates these days? 4% ish? Its a no-brainer over-paying your mortgage if you can. Mortgage rate is 1.85% and I'm making at least 5% per year in a stocks and shares ISA with low risk dividend paying blue chip stocks. OK, not as safe as cash ISA but over the amount of time you've had with low interest rates you'd be very unlucky to lose money. Link to comment Share on other sites More sharing options...
Blootoon87 Posted September 24, 2014 Share Posted September 24, 2014 Probably about £800-£1000 for me. I'm overpaying on my mortgage a bit as well, make hay while the sun shines and all that. Would have a bit more if I wasn't as charitable to the bookies. Link to comment Share on other sites More sharing options...
throbber Posted September 24, 2014 Share Posted September 24, 2014 Im a student just now but if i made what my mrs does which is a pretty modest sum we would have about a grand between us per month Link to comment Share on other sites More sharing options...
kev23 Posted September 24, 2014 Share Posted September 24, 2014 Im a student just now but if i made what my mrs does which is a pretty modest sum we would have about a grand between us per monthAye and if my girlfriend made a lot more then we would have a lot more Link to comment Share on other sites More sharing options...
orlandoblue Posted September 24, 2014 Share Posted September 24, 2014 Aye and if my girlfriend made a lot more then we would have a lot more Link to comment Share on other sites More sharing options...
throbber Posted September 24, 2014 Share Posted September 24, 2014 Aye and if my girlfriend made a lot more then we would have a lot more Well i used to earn more than she does but that was before we lived together Link to comment Share on other sites More sharing options...
Lambie's Pigeon Feed Posted September 24, 2014 Share Posted September 24, 2014 I really need to sort my banking shit out. Any spare money should be going to overpaying my mortgage then I take it? I'll start filtering some into that and some into a shitty e savings account for rainy day fund. Currently just sitting in my current account. Link to comment Share on other sites More sharing options...
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