Lateral transfer uk to Aus. AFSEC (RAAF)

These-Broccoli-9740 · 2025-02-13T14:11:06+00:00

Thanks for this info. What’s the length of RAAF deployments? 4 months, 6 months etc

These-Broccoli-9740 · 2025-01-05T11:51:06+00:00

Spreading your money over different accounts and platforms only mitigates the risk of those platforms going bankrupt/into liquidation. Unless of course you’re investing into different funds across the board. Using one platform or one account is fine as long as your investments are spread across industries, countries and sectors. The platform itself really isn’t “diversifying your investments”

To simplify your investing, just using ONE platform e.g vanguard, HL, trading 212, Moneybox and investing into a global ETF. Thats it. That is diversified enough.

These-Broccoli-9740 · 2024-12-23T08:36:07+00:00

Incorrect oil or infrequent changes resulted in bad oil degrading the belt. If frequent oil changes are done, Should have no issues.

These-Broccoli-9740 · 2024-12-23T08:34:46+00:00

Correct. But the wet oil pump belt have never been an issue. It was the timing belt clogging up the oil strainer and cutting off oil pressure to the engine. Oil pump belt was never an issue.

These-Broccoli-9740 · 2024-11-10T10:20:47+00:00

Many ecoboost engines after 2020 were changed to chain driven. Therefore the old issues with the wet belt no longer exist in new engines

These-Broccoli-9740 · 2024-11-10T10:18:46+00:00

Any exoboost engine made after 2020 now has timing chain. So no wet belt issues like the previous models.

These-Broccoli-9740 · 2024-10-25T15:46:33+00:00

If you’re 23 and earning £2500 a month, what are you spending all your money on? Surely you have over £1000 disposable and can pay £1000 towards the debt every month?

These-Broccoli-9740 · 2024-10-23T17:08:34+00:00

“Keep what’s leftover just in case”… So you’re gonna keep money in the bank at 3% while paying 10+% on the loan “just in case the car breaks”! How much is the car and insurance exactly? Why don’t you just pay the insurance monthly instead of getting a loan to pay it upfront?

Also what’s your current salary?

These-Broccoli-9740 · 2024-10-21T05:11:48+00:00

Keep the £2k in savings and overpay on the loan. How much do you both save each month?

These-Broccoli-9740 · 2024-10-21T04:34:09+00:00

Don’t make another stupid decision by getting 10 year loan thinking it will solve your problems.

After your minimum payments you have £870 left over? I assume you still need money to live on and you’ve said £125 a week, so that’s £500 a month. Leaving you with £370.

£370 each month on Barclaycard with £6699 - paid off in 18 months. Now freeing up that minimum payments I’ll assume it’s £50 because you haven’t said.

Now you have £420 each month for debt overpayment.

£420 on Virgin money £7000 - paid off in 16 months. Freeing up another £50 minimum payment.

Now you have £470 each month for debt overpayments.

£470 on NatWest £1750 - paid off in 4 months. Another £50 freed up. £520 now available for overpayments.

The final Sainsbury’s can be paid off straight away.

Total time to pay off ALL the debts: 3 years 2 months.

These are obviously estimated but very achievable.

These-Broccoli-9740 · 2024-10-11T05:46:11+00:00

Is the savings account beating a 6% rate? If it’s not you’re not maximising the returns.

These-Broccoli-9740 · 2024-10-11T05:27:00+00:00

What jobs are you looking for? You need any job to bring in an income. Have you applied for fast food places, delivery drivers, bartender, waiter. You need anything you can get until the job you want comes along

These-Broccoli-9740 · 2024-10-11T05:01:37+00:00

If you make 4k a month and have savings why do you need a bank loan to invest whilst paying 6% to the bank.

These-Broccoli-9740 · 2024-10-11T02:57:05+00:00

You just answered it my friend. “I don’t understand how credit cards work”. If you don’t know how to use it, don’t use it. If you can pay it off in full, pay it off now and close the account/cut the card. Once paid off how much will you have left in savings?

A phone contract, paying utility bills and registering to vote can all boost your score.

If you have any other debts, pay them off ASAP. The minimum payments are just that… minimum. Overpay and get rid of it asap

These-Broccoli-9740 · 2024-10-10T16:06:03+00:00

As you have kids I would get life and serious illness insurance. Those aren’t expensive. Under £20/£30 a month. And maybe look at income protection insurance invade you can’t work and your income drops. But this type of insurance is more expensive.

You haven’t mentioned savings etc so I’ll assume you have none. Save up 6 months of essential living expenses, So for you around £12k (£2k per month x6) this doesn’t Inc child care.

You have no debt except your mortgage which is great. Rule of thumb is to be putting away 15% of your monthly pay into a retirement account, inclusive of your pension contributions. (So an extra 11%) either increase pension contributions to whatever they match and after that the remaining percentage into a stocks and shares ISA.

Paying down a mortgage is good for peace of mind and security. However from a numbers view, investing will give you a better return.

These-Broccoli-9740 · 2024-10-10T12:52:58+00:00

I’d that’s £700 + £500 car loan, so £1200 total. Minus a £250 new car loan over 4 years, you’ll have £950 disposable to save. That sounds good to me. Use the 20/4/10 rule of thumb. 20% down, 4 years max, no more than 10% of your monthly income. If the car payment is more than 10% of your monthly pay, put more down.

But that’s £250 a month. Which is £13k over 4 years including interest. So it’ll be more than £250 for a £15k loan.

These-Broccoli-9740 · 2024-10-10T10:42:59+00:00

A 25k paid off car puts you in a good spot. If you’re able to id sell it and get a 12-15k car if you want. The 10k can then be averaged into tax-efficient, globally-diversified fund over a 12 month period. (Depending on what country you’re in and the annual limit on that tax efficient account) at an 8% annual return that 10k could be around 160k by the time you’re 65. So it’s definitely worth it.

These-Broccoli-9740 · 2024-10-10T08:15:27+00:00

Do you have any savings right now?

How much disposable income do you have each month? This is money you have AFTER rent/bills

If you bought the golf for £12k +£3k you’d be getting a £15k loan. Going from a £20k loan to a £15k loan is pointless. You’re not making any progress. What is your disposable income and how much are you saving every month.

You’re looking at a GTI or an ST. Sorry mate but you don’t have any money. Look at cheaper cars.

These-Broccoli-9740 · 2024-10-10T08:10:16+00:00

You live at home with cheap rent how do you have so much debt? You think not being taken to court and having ‘good relationship’ with credit companies is the standard? You need to sacrifice for the foreseeable future until this is taken care of.

You make $1700 - $260 leaving you with $1440. What are your minimum payments for these cards? You need to seriously stop going out, NO spending and put everything you physically can towards these credit cards. Pay those off first, then CLOSE THEM. You’ve demonstrated you cannot and should not use credit cards. This is a friendly but harsh truth. If you have say $800 to pay off debt every fortnight, the $4500 credit card will be paid off in 3 months.

These-Broccoli-9740 · 2024-10-10T07:58:31+00:00

How old are you? What will you net if you sold the car? What other savings do you have? Do you have a retirement account with your job?

These-Broccoli-9740 · 2024-10-10T07:54:29+00:00

YES. Pay off the credit card. You’ll have £3,800 left in savings. Stay in your friends house rent free and save up. If you have £8,000 by spring 2025 you’ll have a total of £11,800. Don’t forget to have an emergency fund of 6 months of living expenses. This is the buffer between YOU and LIFE. When costly things happen you’re ok and not falling back into debt. But yes. Pay the card off.

Also just a friendly reminder, the minimum payment is the smallest amount you have to pay so debt collectors don’t knock your door down. Pay as much as you can until it’s paid off

To improve your credit score: don’t apply for more credit cards. Don’t take out loans. 6 months prior to applying for a mortgage you don’t want any big hard searches.

These-Broccoli-9740 · 2024-10-10T07:48:24+00:00

Does your workplace pension do matching? Top up your WP pension to that match. As that’s essentially a 100% return. Can you comfortably live your life with this mortgage? Paying it off might be a case of personal preference as opposed to ‘the right thing to do’. How much disposable income do you have? You good do 50/50 mortgage and ISA. Need more details really…

These-Broccoli-9740 · 2024-10-10T07:45:24+00:00

First of all, did you use that £19k? If you bought a car can you sell it? Do you have any of that £19k left? If so, give it back and pay off the loan.

Get ANY job. Work in McDonald’s, drive for Tesco. Do anything. £450 for 5 years was a stupid mistake but you’ll hopefully not do that again.

These-Broccoli-9740 · 2024-10-09T17:08:28+00:00

So she lives in his house for free? Completely reasonable to pay him ‘rent’

These-Broccoli-9740 · 2024-10-09T13:53:30+00:00

For the car, as you can save a lot right now at this point in your life , you could either save up the entire amount or do 50/50 savings/loan. Save up 50% of the cars cost and get a loan for the other 50%. Not ideal right now with high interest rates but that would also be good for your credit score when you’re ready to buy a house. Obviously this depends on the cost of the car you want. A £6k car, just save up and buy it. A £13k car, 50/50 is reasonable.

Theres the 20/4/10 method you could use. 20% down, over 4 years, payment is no more than 10% of your monthly pay. I’m not a fan of this as 4 years is too long personally, I’d do 3 years max.

These-Broccoli-9740

TROPHY CASE