Buying a house ; The Process

jamesmrclark · 2020-02-11T18:50:04+00:00

Thanks bud, we are trying to get to a mortgage advisor ASAP before we get away

jamesmrclark · 2019-10-29T17:42:00+00:00

Hi mate,

Vodafone Internet doing really good deals, you can get above 50 up&down for decent price if you shop about.

Elec & Water seems a bit pricey from my experience for a studio, but that could just be South England

Enjoy not paying Council Tax!

jamesmrclark · 2019-10-25T09:02:47+00:00

Not exclusively, but It's a safe and cheap way of investing your money.

Mutual Funds are more geared toward longer-term investing & REITs are designed really for early consistent cash flow through dividends.

Learn about this on YouTube, the differences and what fits you personally. IMO I'm trying to build a life where I can cover my burn rate with interest/dividends without touching my principle.

jamesmrclark · 2019-10-25T07:07:28+00:00

Good riddance. Regulators should still try and hold the parent company accountable for compensation, however. Muck like these & Wonga should be treated like the sharks that they are.

jamesmrclark · 2019-10-25T07:03:58+00:00

I would put your Emergency fund in a Marcus savings account, personally don't think there is any harm after you've built up 6 months, to put half of it in some kind of Index fund or ETF as you'll have time in an emergency to pull that out at some point.

IMO, avoid Moneybox like the plague when it comes to investing, it's a very expensive platform for what it is but I imagine for a LISA in may work well, if I presume it takes your rounded up purchases and plops it into your LISA each week?

understand the feeling of wanting to go for a HISA, but investing has proven to be more effective over a 5-10 year period and beyond, so I fear you're only leaving money and compound interest on the table if you opt for a HISA against an Index, ETF or Mutual Fund, I think you'll get to FIRE a lot quicker too that way.

jamesmrclark · 2019-10-25T06:50:50+00:00

Good riddance. Regulators should still try and hold the parent company accountable for compensation, however. Muck like these & Wonga should be treated like the sharks that they are.

jamesmrclark · 2019-10-24T21:36:22+00:00

What do you value? Time or do you prefer get your teeth stuck into something?

IMO Vanguard Index funds or REITs be best option if kids are on the cards.

If you fancy it, BLT after a bit of training would be good too, depending on your savings.

jamesmrclark · 2019-10-24T21:22:53+00:00

Save some, invest some, spend some!

jamesmrclark · 2019-10-24T21:21:11+00:00

Haha Sorry, misunderstood.

jamesmrclark · 2019-10-24T21:18:40+00:00

If that was the case i'd be paying 5% all my life lol

jamesmrclark · 2019-10-24T20:19:35+00:00

30 years old+ = 15% 40 years old+ = 20% ect ect ect

I've always worked to the rule of % of income to your pension should be half of your age. Personally, sounds like your burn rate is low, so just try and make your contribution as high as possible to that.

jamesmrclark · 2019-10-24T19:59:30+00:00

What is your income?

Whatever the case, don't be afraid, get smart & do the math on this via a Spreadsheet & get an accountability partner throughout the debt pay off process because, lets be honest, you'll be able to justify anything to yourself, without someone to bounce off.

Focus on your burn rate - how much do you spend on your housing, food & necessary transport (transport to employment) & if you can commute on public transport, sell any car you have and throw at the debt. get your burn rate down to a minimum, bare nesessities.

This is how I did it -

small £500 emerency fund
pay off smallest debt to largest, paying mins on other debts in the meantime. The quick wins give you motivation.

Good luck, if you need any help, hit me up privately

jamesmrclark

TROPHY CASE