So, I put money away for Christmas and holidays but unfortunately not quite enough. I need to up the amount next year! We had one more holiday than we anticipated at the beginning of the year, which was our choice. That’s what saving and being frugal is for – to stop the worrying and allow money for the fun things in life.
I would also like to greatly increase the amount we have in our emergency fund next year. The boiler playing up has made me realise that. It is still not right despite two visits from the plumber. but he doesn’t think it is terminal. Let’s hope not as it is now very cold in the mornings and evenings and I need some heating!
The ad has finally gone on spareroom.com. I have already had a conversation with a nice lady from America who is coming over in January to study, but we have agreed I will keep the ad on for now as I had hoped to get a lodger sooner than that. I am not convinced we are close enough to the university to be ideal for her so she may find something more suitable anyway.
I read a very interesting article about the new government Lifetime ISA coming in next year. If you are under 40 you can put your savings in and at the end of the financial year the government will give you a bonus of 25% of what you saved. This sounds great so what’s the catch? You can only take money out without penalties if you are buying your first house ir flat, or for your retirement at 60.
If you are struggling to save to get a foot on the property ladder this appears an excellent way to do so. Similarly if you are nearing 40 and worried you haven’t saved enough for your retirement this could be a good deal.
I have told my daughters to consider this and I hope they will. More information can be found here.