Thursday, 23 May 2013

Normal Spending And Saving to Be Resumed?

For a supposedly thrifty blogger who successfully passed her financial planning exams in the dim distant past, my monetary position has been in an rather state recently.  That rainy day that we're supposed to save for came and then, instead of turning into glorious sunshine after a short while, set in for over a year.  It diminished my nest egg and for a while I've had to rely on good old Visa to set up the home that I currently live in and to do up that swanky new house of my dreams in readiness for letting out.   Of course, I used a 0% balance transfer to minimise interest payments.

Now though, my fortunes have turned and funds have come in.  The credit cards have been paid off and there's money over.  Not vast six, seven or eight figure sums but sufficient for me to sleep soundly at night.

What do I do with my new found micro-wealth?  'Buy loads of shoes!' that annoying devil on the shoulder is shouting.  He's easy to ignore though because planning for a comfortable future is more important than dapper footwear in the present.

When I was married we were using all our spare capital to pay off the mortgage and that's an approach many of you are taking out there.  But it may not be the path that I take.  'Make your money work for you' said Salty Dog wisely before she headed out to sea again.  I'm having a good think about how I could do that with a range of financial products that spread risk and allow me to have access to funds when I need them.  Stocks,shares, savings accounts, pork bellies on the futures market!  What will that balance be?

1 comment:

  1. Can't help you there, got no interest in money laundering :o)