Neil Hopcroft

A digital misfit


I have a few observations about finances that I would like to share with people who are interested, its not appropriate for a public journal but I wondered if anyone here would be interested in reading about them. Besides I was wondering what everyone thought about investments.


Categories: Memories.

/ 11 Comments

11 comments

  1. edling

    I know almost precisely bugger all about investments (although I’ve just realised I do technically invest, as I have some shares that my parents bought for me over ten years go, and I’ve got a pension)- I’d be interested to see what you have to say about them though, as I’ve got the sneaking suspicion I probably ought to know something at some point.

    Reply
    • neilh

      You’re on the filter…I’m not sure that what I have to say will actually be useful, but I think that its the sort of thing people should be doing *something* about. And talking to other people about it is a good place to start.

      Reply
  2. davefish

    Any activity I do in that line tends to be occasional looking at what cash I have and where it can be stashed. I have minimal contact with what people might term a long term strategy.

    Perhaps something I ought to think about, but I keep putting it off in order to photograph sexxy deth chyx.

    Reply
    • octalbunny

      Same here (but without the photography). It would be a good thing to regularly read about someone getting himself sorted out; would remind me that I need to plan things instead of websurfing.

      I’ve got a bit in the stock market, but I keep thinking that house prices are going to crash and take the market with them.

      Reply
    • ulfilias

      but I keep putting it off in order to photograph sexxy deth chyx

      I could see how that could be distracting !

      Me….I know a little. I wouldn’t say it was bad to talk about money either, its something we all need to a greater or lesser degree and investing for the future is a sensible thing that *EVERYONE* should do. We have a culture of buy now, sling it on credit and worry about it tommorow, which is quite a good thing that the Banks and people who take interest off you have perpetrated. Afterall if everything you buy they cream a % off is a nice easy way to make a living.

      The best thing i ever did, financialy, was to get maried, as with the loan i took out to pay for the wedding, i also took a bit extra and cleared off my credit card….I was paying a bit off and putting a bit on each month and being hammered on the interest, where as the loan was close to the amount i paid off and cleared it at much lower interest. I have since paid in full on my credit cards.

      Actualy my latest one, an Egg card is paid off by direct debit so i’m never ever late and hence never get any charges…Even better it gives me 1% cashback, which while not huge builds up to a free £200 per year, and it also ofsets my purchases from my bank account (A+L) which also gives me interest…a win/win situation for a change

      Its not particuarly investing, but to be honest, your best bet is to reduce your debts first, as no mater how good the interest your getting, the interest your paying is higher (and you don’t get charged Tax on reducing debts).

      The exception is perhaps a mortgage as this is the lowest rate of interest you’ll pay, however don’t be fooled into say buying a car (potentialy the most expensive way to do this) that way and paying the minimum back (eg £25 a month for 25yrs versus £200 for 5 years), as the longer the debt the more you pay.

      Stocks and shares are relativly safe bets inverstment wise, so long as you spread your investments (multiple, ftse100 companies) and leave it long term (7-10yrs). Growth is better than any bank account, but i wouldn’t call it earth shattering either….However compounding can net a goodly sum this way. Property tends to grow well, and while yes, a crash may happen, you only actualy loose if you sell, and property will always be in demand as people need houses, business need premises and the population is on a growth….less theres a plauge or war, at which point most bets are off on money anyway (survival rules)

      Reply
      • davefish

        Actualy my latest one, an Egg card is paid off by direct debit so i’m never ever late and hence never get any charges…Even better it gives me 1% cashback, which while not huge builds up to a free £200 per year, and it also ofsets my purchases from my bank account (A+L) which also gives me interest…a win/win situation for a change

        One a similar vein, I got an open-plan account with Barclays. Which essentially ties together your current account and several different savings accounts (And if I had one, my mortgage) and sloshes money between them automatically. This works very well with me, as I don’t have to do anything for spare cash to end up in the savings pot.
        It could be bad if you use the amount in your bank account as a way to track spending, as the sloshing confuses things.

        Reply
        • octalbunny

          When they offered me the Open Plan, it worked like this:
          Daily – move money if the current account is above the high-water mark
          Monthly – move money if the current account is below the low-water mark

          It sounded like I’d need to notify them in advance to increase the high-water mark just before going to expensive places like Whitby, and then put it back down again afterward. Manually moving the money seemed easier.

          Reply
    • neilh

      I can see why you get distracted. Unfortunately I don’t have the kind of photography talent needed to do the people pictures – so I end up spending my time in other ways.

      Reply

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