I've also started to stooze...this year should earn me £600 in "free" moneynow it's just stoozing/saving with about 1 year to 2 year flex so I don't need to carry any significant sums of cash.
I've also started to stooze...this year should earn me £600 in "free" moneynow it's just stoozing/saving with about 1 year to 2 year flex so I don't need to carry any significant sums of cash.
true. it's stuff i would have spent money on anyway. but better to have it on what is, essentially, an intrest-free loan...and have the money sat in my savings account/flexi-cash ISA earning 5-7%The key though really is about having the capacity to service the debt, that’s the key, not the saving what you spend bit but ultimately the funds to regularly cover the MMP
When you say you started, I’m curious when did you start and how quickly did you get to the £12k (assuming 5pc savings rate)?I've also started to stooze...this year should earn me £600 in "free" money
8.5k solar PV system is the main one. then a TV etc and home electronics put it to £12kWhen you say you started, I’m curious when did you start and how quickly did you get to the £12k (assuming 5pc savings rate)?
The mmp is irrelevant. You need the cashflow to cover the balance by the end of the team. Mmp is just basic table stakesThe key though really is about having the capacity to service the debt, that’s the key, not the saving what you spend bit but ultimately the funds to regularly cover the MMP
I disagree, you very much do have to have the MMP in mind, especially if missing it once screws the whole process. Also so you know your limit of total debt to aim for, this can obviously be adjusted as you go, but if you start with an £x mmp target that also means you can be saving quicker if you factor that in from day 1, by saving the difference between your target mmp and actual + your spend.The mmp is irrelevant. You need the cashflow to cover the balance by the end of the team. Mmp is just basic table stakes
every little helps, especially when it's less than 15mins to apply for a 0% CCUnless I paid my monthly bills I can’t see myself building up a balance quickly enough to make it worth my while but I guess it’s a little like compound interest, it will start off small and build over time.
Still, something I have capacity to do, so will definetly look in to it in more detail.
There is zero risk of not having the mmp available as you can just take it from what you saved from putting all your spending on the credit card.I disagree, you very much do have to have the MMP in mind, especially if missing it once screws the whole process. Also so you know your limit of total debt to aim for, this can obviously be adjusted as you go, but if you start with an £x mmp target that also means you can be saving quicker if you factor that in from day 1, by saving the difference between your target mmp and actual + your spend.
Always liked the idea of stoozing but just not quite worth the hassle after tax on interest.
Mostly I think it's not really worth the hassle as it's another thing to juggle, personal opinion though.
Its no hassle really when you get 19 month deals.
My point is mmp is too low of a threshold and you've completely misunderstood the task at hand if that becomes an issue.I disagree, you very much do have to have the MMP in mind, especially if missing it once screws the whole process. Also so you know your limit of total debt to aim for, this can obviously be adjusted as you go, but if you start with an £x mmp target that also means you can be saving quicker if you factor that in from day 1, by saving the difference between your target mmp and actual + your spend.
Short dated low coupon gilts then.Always liked the idea of stoozing but just not quite worth the hassle after tax on interest.
I've also started to stooze...this year should earn me £600 in "free" money
Yeah it's so minor relative to the income you require to service the debt. One of my purchase cards at 18k debt to be fair is a higher minimum payent (about 500/600 a month) but I just load it up with shopping each month.My point is mmp is too low of a threshold and you've completely misunderstood the task at hand if that becomes an issue.