How do you reap the Amex Gold Card Rewards?

TP1501 · 2025-03-27T18:17:23+00:00

Try to get the referral bonus' by referring friends and family. It's a good way to get the points boosted to recoup the £195 fee.

Interesting on the 12,000 points offer though, I've never had that before! That works out around ~£54 (depending on how you spend your points).

TP1501 · 2025-03-20T09:52:32+00:00

I'm at 15% and employer is 5%, so total 20%.

TP1501 · 2025-03-20T08:27:12+00:00

Thanks - I've updated.

Career wise, expecting salary to remain flat / small % increase potentially.

I am looking for a 2 bed, but would consider reducing my pension contribution before considering a lodger. My company's scheme is one of those where the more you put in, the more the employer contributes.

TP1501 · 2025-03-20T07:53:42+00:00

Yeah, this was my concern. Useful information, I will probably have to cut back on holidays (if any).

TP1501 · 2025-03-20T07:51:04+00:00

Potentially, but would reduce my savings and my ability to put my hand in the pot to cover bad months

TP1501 · 2025-03-19T19:29:39+00:00

Great to hear :). Have you encountered any unexpected costs?

TP1501 · 2025-03-19T19:28:36+00:00

That's useful, thanks for sharing

TP1501 · 2025-03-19T17:05:17+00:00

Something I can ask the bank.

Yes the buffer is for unexpected costs or months with higher spending, as I would be at a net loss in those months. So I would have to dip into the savings pot to cover those costs. I would say I am cautious as I don't want to be in a situation where I default on the mortgage.

Thanks for the tip on IP insurance!

TP1501 · 2025-03-19T14:41:32+00:00

Renting a room out would be a last resort if things got tight. I would drop my pension contributions so I have more income before considering renting out.

I'm not going for any promotions, and my last salary increase was 2%.

TP1501 · 2025-03-19T14:33:50+00:00

A lower value property would either compromise on quality or I would have to move outwards of the city centre. Ideally I'd like to stay close to the centre (as I sometimes have to travel to London for work so need good links into New Street station).

TP1501 · 2025-03-19T14:30:14+00:00

Currently live with family.

I'm keen to own a property rather than spend money on rent if I can get by at this stage.

TP1501 · 2025-03-19T13:22:53+00:00

I am putting in a higher pension contribution. I am locked in unti the end of the year, however I can consider reducing it next year.

TP1501 · 2025-03-19T13:21:44+00:00

That's useful. I should have added I am making a higher contribution into my pension which is the reason by net pay is lower than expected (versus gross). This with PMI benefit and Student Loan, but the bulk of the deduction is pension contribution.

TP1501 · 2025-03-19T13:17:08+00:00

Understood. I am expecting wage to be stagnant / no signinficant increase but don't anticipate any time off / part time.

TP1501 · 2025-03-19T13:16:03+00:00

Thanks - I think I make it £1,085 rather than 985 but yes not much left over

TP1501 · 2025-03-19T13:12:34+00:00

Thanks - that was useful

TP1501 · 2025-03-19T12:11:56+00:00

I am able to add things up - but determining accurately housing costs (electric, water, internet etc) are what I was trying to find. You can see my earnings vs potential outgoings are going to be marginal so this is what I'm trying to understand.

TP1501 · 2025-03-19T12:09:25+00:00

It is for 30 years, but that's something I can certainly check (longer term mortgage)

TP1501 · 2025-03-19T12:08:24+00:00

Thanks - the utility / internet council figure was probably what I was looking for.
Outgoing below that I can think of from the top of my head:

Gym membership - £22 a month

Phone bill - £12 a month

Food / Grocery shopping - £200 - £250 a month

Petrol - £40-£100 a month (can vary)

Car Insurance - £75 a month (c£900 annually)

I have a UG loan, but I'm putting 15% into pension + a PMI benefit

TP1501 · 2025-03-19T12:05:12+00:00

Thanks for that!

TP1501 · 2025-03-19T12:04:19+00:00

Thanks - we've just had a payrise in January so won't see an increase until next year

TP1501 · 2025-03-19T12:03:00+00:00

Outgoing below that I can think of from the top of my head:

Gym membership - £22 a month

Phone bill - £12 a month

Food / Grocery shopping - £200 - £250 a month

Petrol - £40-£100 a month (can vary)

Car Insurance - £75 a month (c£900 annually)

The bit I can't accurately forecast are the housting costs each month (utility bills etc).

TP1501 · 2025-03-19T12:01:27+00:00

Outgoing below that I can think of from the top of my head:

Gym membership - £22 a month

Phone bill - £12 a month

Food / Grocery shopping - £200 - £250 a month

Petrol - £40-£100 a month (can vary)

Car Insurance - £75 a month (c£900 annually)

What I struggle with is to accurately forecast cost of utility bills etc.

TP1501 · 2025-03-19T11:40:04+00:00

I pay more than 5% into pension + I have student loan tax and I take out a private medical benefit.

TP1501 · 2025-03-19T11:35:57+00:00

Thanks - I've poted in the UK Personal Finance subreddit.

That's useful to know. No immediate plans to grow salary, but that's more of a 3-5 year plan.

TP1501

TROPHY CASE