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Thread: Finances

  1. #101
    Senior Member Spikey M's Avatar
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    I've got some Magic Beans going for a grand, Foe?

  2. #102
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    You can make investing a headache, or you can just ride the market.

    Just get index funds, be they mutual or exchange-traded, and get to the point where you can solidly invest in six to twelve of them.

    Buy into ones with low-expense ratios. Get a Standard and Poor's (S&P) 500, a mid-large cap international, an emerging markets, a frontier markets, a real estate investment trust (REIT), and a global water.

    You can add to this with things like a commodity fund if you're feeling bullish on gold, a mid-cap S&P 400, global batteries, a US corporate bonds index, a country fund for Germany, etc.

    Diversity is key.

    Check once a year, every six months if you're feeling cheeky.

    Use your remaining time on things you can control like your happiness.

  3. #103
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    Alright mate stick to architecture and boring posts about Edmonton's residential cycling paths.

  4. #104
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    Quote Originally Posted by Magic View Post
    All those oil engineering firms dropping like flies round this way.

    The arsehole is falling out of Aberdeen. There goes 70k for being a cleaner on a rig. Shower of thick cunts.

    Shouldn't you be saving Foebia?
    Saving for what? I don't have a wife that's going to leave me.

    would be nice to diversify a little bit though. It would also give me some incentive to be productive / read more when I'm not working. Ive survived two rounds of redundancy at my gaff. Hopefully I'm a bit more secure now.

    I'm loyal to berty, spikes, but if you have any DONG going let me know.

  5. #105
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    Take out a mortgage, set up an investors agreement with friends, buy into property that you can rent out that covers the mortgage and taxes.

  6. #106
    Senior Member Boydy's Avatar
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    Quote Originally Posted by Foe View Post
    would be nice to diversify a little bit though. It would also give me some incentive to be productive / read more when I'm not working.
    Why not just dump in an index tracker, let it make money and read something that's actually enjoyable? Instead of looking for more work outside work.

    You proddy bastard.

  7. #107
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    Seriously, though, the only people who have time to research the nooks and crannies of the market in an attempt to beat it are the people who spend 60+ hours a week researching the market who manage funds (be it personal or through an institution).

    If you invest, just do so in a spread of funds that track how economies writ-large are doing. Cover things off with an international fund with mid-large caps to hit the bigger international companies, an S&P 500 because the world's money is in the United States, an "emerging" markets fund for the likes of China and South Korea, a frontier markets fund for the likes of Jamaica and whoever the fuck else because they're developing more rapidly than already-developed countries (what a shock), and then some more specific funds like if you want to track Germany or the UK, mid-level companies in the States, some long-term bonds, and some specific future-oriented sectors like water, medical technology or batteries.

    Quote Originally Posted by Boydy View Post
    Why not just dump in an index tracker, let it make money and read something that's actually enjoyable? Instead of looking for more work outside work.

    You proddy bastard.
    Yeah. You can learn to read the markets as a way to understand the world better and make it a hobby, but don't make it a second job. People already do that job for you, and those manager-expense ratios are tiny when you realize how little you're compensating them for how much time you're saving for yourself to do things like watch High School Musical.

  8. #108
    Senior Member Adamski's Avatar
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    Has anyone ever taking equity out of their house? How exactly does it work?

  9. #109
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    Quote Originally Posted by Adamski View Post
    Has anyone ever taking equity out of their house? How exactly does it work?
    Dunno. Stepchange can help though, they're free. Give them a bell.

    https://www.stepchange.org/Howwecanh...Mortgages.aspx

  10. #110
    Administrator Kikó's Avatar
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    I've got a few grand of debt at the moment which is pecking my head. The wedding has brought on a few months of overspend but I'm hoping to clear some of it off sharpish to give me some breathing space.

  11. #111
    leedsrevolution
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    Quote Originally Posted by Adamski View Post
    Has anyone ever taking equity out of their house? How exactly does it work?
    Do you mean you want a homeowner loan? Or do you mean this:"Equity release is a means of retaining use of your house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house. The "catch" is that the income-provider must be repaid at a later stage, usually when you die."

    I've not done my qualifications in the latter so couldn't help ya.

  12. #112
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    You just add it on to your mortgage. Not sure if it's a separate high interest sub-mortgage or part of your total.

  13. #113
    Senior Member Adamski's Avatar
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    I can get a top up loan secured against my house which is fine but it's the latter in LRs post I was interested in.

    I suppose it doesn't matter whichever way you do it, just wondered what the differences were.

    Got 70k sitting there in equity at the moment.

  14. #114
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    khgjhg

  15. #115
    Administrator Kikó's Avatar
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    Thanks for the link hammer. For me it's more a case of getting it out of the way than major stress. One is a bill to the tax man, the other is two credit card debts (one 0% interest so less concern) which I would like to settle.

  16. #116
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    Are you taking it out for home improvement or for Vegas?

  17. #117
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    Adding a loan to your mortgage (and therefore increasing the compound interest) seems like a great way to spunk a load of cash away.

    Can you sit tight and save for whatever it is?

  18. #118
    Senior Member Adamski's Avatar
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    It's to pay off some debt. Rate is a lot lower getting a top up mortgage loan over 5-10 years than a personal loan and while it would end up a bit more in interest in the long run, short term it could save hundreds a month.

  19. #119
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    No idea on that, I know you can add home improvement ones to your mortgage but not sure about general swag.

  20. #120
    Senior Member Spikey M's Avatar
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    If it's credit card debt there are some ridiculously long 0% balance transfers out there. I wouldn't be adding in to my mortgage.

  21. #121
    Administrator Kikó's Avatar
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    I'm flipping my current account to the one in here at Northern Trust. £100 switch + 5% rate for up to £300 a month saved for 12 months. Not a bad rate considering the economy at the moment.

  22. #122
    ram it up your shitpipe Giggles's Avatar
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    You're not operating off shore yet? Raoul will be pissing himself when he finds that out.

  23. #123
    Administrator Kikó's Avatar
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    You need to have some money to be able to hold it offshore.

  24. #124
    Senior Member Spikey M's Avatar
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    Seeing as my Bank Account does fuck all but act as a piggy bank I'm going to jump ship. Ideally I want one of those accounts that gives cash back when you have bills paid via Direct Debit or that rewards you for making a deposit each month.

    Anyone know where's best these days?

  25. #125
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    Santander 123, depending on your savings/incoming + outgoings. Check Money Saving Expert.

  26. #126
    I used to be funny.
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    If it wasn't for my tendency to stack up cash in my current account, I'd be on a high-interest one like a shot. That's the real downside of it. Moving money constantly so you don't hit whatever your limit is.

  27. #127
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    Had a mortgage appointment on Friday. Chuckled when the advisor suggested my flat had gone up in value (the market here has crashed in reality).

    On the plus side, I've knocked about 6 years off the length of my mortgage.

    Only 14 more years of financial cripple.

  28. #128
    Senior Member Offshore Toon's Avatar
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    Has anybody had any luck getting a credit card as a student before? I'm pretty fucked for money.

  29. #129
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    Yeah they usually do it without any issues so long as you've got a half-decent credit rating. I had one as a student.

  30. #130

  31. #131
    Senior Member Offshore Toon's Avatar
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    Cheers, guys.

  32. #132
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    I have serious cash flows issues right now. It's 2 weeks until pay day and I've only got £81 in my account, and I'm £100 in to my credit card. WTF.

  33. #133
    Custom User Title phonics's Avatar
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    Magic can never laugh at me again. At least it's me who starves not a small child.

  34. #134
    Senior Member Adamski's Avatar
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    You don't have a wife taking out £20 a day for 'stamps'

  35. #135
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    See if that kick boxer will pay for a shot of your wife.

    Win win.

  36. #136
    Administrator Kikó's Avatar
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    Ns and i are reducing their ISA rate again so I'm moving it to a stocks and shares with Nutmeg. Decided against the LISA even though it's generous.

    I've also tried putting money into p2p like the house crowd and zopa. I reckon it's the only place you can actually get any kind of return.

  37. #137
    Senior Member Spikey M's Avatar
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    What's the deal with the Stocks and Shares ISA's is it, as I suspect, basically the bank playing the stock market with your money? If they 'lose' is the money gone? If so, fuck that. Spend it all on gold.

  38. #138
    Custom User Title phonics's Avatar
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    Quote Originally Posted by Kikó View Post
    Ns and i are reducing their ISA rate again so I'm moving it to a stocks and shares with Nutmeg. Decided against the LISA even though it's generous.

    I've also tried putting money into p2p like the house crowd and zopa. I reckon it's the only place you can actually get any kind of return.
    Literally didn't understand a word of that. No wonder people get fucked in a crash. 'Ah bollocks by Nutmeg Zopas got totally bolloxed by the house crowd'

  39. #139
    Administrator Kikó's Avatar
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    NS and I -national savings and investment (government backed savings who do premium bonds, bonds and traditional ISAs (individual saving account tax free, each year an allowance is available for you to invest)

    Nutmeg - they're a provider who offer funds to invest into. Stocks and shares ISA is similar to a cash ISA but it's more volatile as it's investing in the market. Same tax free on gains

    Thehousecrowd - they are a company that sets up special purpose vehicles to invest in three areas. One is peer to peer lending with distrusted sophisticated property developers, two is investing in mid term in property developments, three is in property itself which is then rented to either business or individuals. Investing an amount sees a return on the capital you put in.

    Zopa - another peer to peer lender who replace the traditional role of a bank. Money is placed into Zopa who then broker with people looking for a loan. They then repay their loan and you gain from the interest on the loan.

  40. #140
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    £11 left.



    Tried selling my sofa but the guy didn't turn up.

  41. #141
    Senior Member Adamski's Avatar
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    Tomorrow is a great day. The wife's promotion payrise kicks in

  42. #142
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    Quote Originally Posted by Adamski View Post
    Tomorrow is a great day. The wife's promotion payrise kicks in
    Beta.

  43. #143
    Senior Member Adamski's Avatar
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    Still the breadwinner bro

  44. #144
    Senior Member Spikey M's Avatar
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    At least she can afford the rest of the food.

  45. #145
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    £15.14 left.

    £375 down in the credit card.

    #fucked

  46. #146
    ram it up your shitpipe Giggles's Avatar
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    I thought you got a massive payrise? Is she partying it all?

  47. #147
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    Quote Originally Posted by Giggles View Post
    I thought you got a massive payrise? Is she partying it all?
    I spent about £300 on the stag do I was at, the car insurance came off in July when I thought it was end of June, we had a wedding weekend past, I spent £110 on some framed photographs, I bought a luxury hotel room in Manchester for just before Christmas, I bought that Amazon Echo and finally a bottle of 6 times distilled Vodka.

    /

  48. #148
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    With that kind of money you could've bought your child's favour instead.

  49. #149
    Senior Member Pepe's Avatar
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    Quote Originally Posted by Magic View Post
    £15.14 left.

    £375 down in the credit card.

    #fucked
    Now we know why you switched to Labour.

  50. #150
    Administrator SvN's Avatar
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    What's your monthly take home Magic?

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