Buying A Repossession

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The local estate agent has been busy in my street recently. One house had a for sale sign up for less than a month - and then sold at £125,000 ($212,500 in US funny money) The day after the sold notice went up on the first house, a for sale sign went up on the house next door asking for offers over £70,000 ($119,000). Now that's one heck of a difference for two identical properties. So - naturally intrigued (also called being a nosy neighbour) I called up the agent to find out what was the deal. It turned out that the second, very cheap property had been repossessed by the bank and was in a very poor state of repair. The bank were accepting offers on the property for a cash … [Read more...]

A Rich Life

A rich life

Its about leading a rich life - thats the tag line of this Get Rich With Me site. I try to keep these pages real, and focused on whats happening in my life, usually specifically towards my finances. But leading a rich life IS more important than having £$£$£$ in the bank Friends, happy times, and the respect of your peers cant be bought with cash, or be increased by swelling your bank or investment account. I am sure I've mentioned somewhere on this blog before now  that I'm a keen fisherman but I don't think that I've mentioned that I spend a fair amount of time each week on campaigning for improved water quality in my local river. Battling against water utility companies about … [Read more...]

The Advice I Never Got

Advice

    The advice I never got from my parents which I have given to my 18 year old son who has just finished school. My parents never spoke to me about money, my bank offered me an overdraft when I was 16 and I've had one ever since. I don't want history to repeat itself.   The Advice I Never Got Live below your means Once you get your first job, aim to save 20% of your net pay. There is no need to save more – life is for enjoying. Automate your savings – take the money you want to save out of your account on the day you get paid – it will stop you from spending it. Save up 3 months of living expenses and keep this in a deposit account to use as an … [Read more...]

Be An ISA Millionaire

Be A Millionaire

Do you want to be an ISA millionaire ? How long will it take you to be an ISA millionaire ? Here in the UK we have a fantastic tax free savings scheme called an ISA (Individual Savings Account) which allows people to save up t0 £15,000 per year in a tax free account. No tax on interest earnt, no tax on capital growth or dividends The only tax on these accounts Inheritance tax when you die Prior to July 2014 you could save a maximum of £5,640 in a cash ISA - which enabled you to save in a deposit style account And a maximum of £11,280 in a stocks and shares or investment ISA which enabled you to save in Unit or Investment Trusts, stocks and bonds. Yesterday the rules changed, … [Read more...]