Chislenko
Veteran
Yes, you are quite correct Shep, it will just have a massive negative effect on my month end balance sheet, one hundred and twenty thousand multiplied by 10p!!
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- Thread starter jowwy
- Start date
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Yes, you are quite correct Shep, it will just have a massive negative effect on my month end balance sheet, one hundred and twenty thousand multiplied by 10p!!
Deleted User
Guest
- Location
- Wolverhampton
Paper money that's all, don't fret.
I doubt you need worry, with that many shares of anything your divvy must be impressive and I would imagine you can afford to wait until they come back up.
3rd world problems and all that.
figbat
Slippery scientist
- Location
- South Oxfordshire, UK
But the impact of this depends on the absolute share price. Sure, £1,200 seems like a lot to "lose", and if the shares went from £0.20 to £0.10 your portfolio has halved and you're right to be concerned. If the hare price has drifted from £10.00 to £9.90 though, it's less of a worry.
Mo1959
Legendary Member
- Location
- Perthshire,Scotland
3.62% with a 5 year bond with Tesco if you don’t mind not getting access to your money.
Deleted User
Guest
- Location
- Wolverhampton
Chislenko
Veteran
I keep it going so that if I pop my clogs Mrs. C knows exactly where everything is, account numbers etc as she does not get involved in household finances.
And yes I have tried to get her involved.
Deleted User
Guest
- Location
- Wolverhampton
Fair play, never gave that a thought really.
Chislenko
Veteran
Yes, Tom, hence my disappointment 😟
- Location
- Somewhere wet & hilly in NW England.
I think he runs a similar thing to us here.
We have a 20 year cash flow forecast. A pretty complex beast but one that is, nonetheless, very easy and quick to update each month. Took a while to build though and it evolved over time.
Each month we know exactly what we have in terms of cash/investments and know our 'wealth' position ex' (mortgage free) house.
We originally built the spreadsheet to enable us to have confidence that switching off our corporate careers and downshifting would work. Bear in mind that we were downshifting our annual net income by 80% - the numbers eased a lot of the scariness!
Takes very little time for Mrs SD to run the month end numbers but, whilst we are both retired and will never run out of money, it is a habit we both do not wish to break. It's quite good fun really.
In December we spend an hour together planning the next year - likely investment returns, inflation rate, major purchases etc. This is a really useful exercise too.
We don't really budget as such we just use historical data to estimate income and expenditure - we are able to buy what we want and when we want it, and then use this as a guide for the year ahead and subsequent years.
Some people think we are crazy but in all honesty I am of the opinion that if more people actually 'managed' their finances they would be able to make better monetary decisions and be less stressed about their long-term financial wellbeing.
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amen to all that.......
figbat
Slippery scientist
- Location
- South Oxfordshire, UK
OK, but my point still stands. £12k missing from a £24k portfolio is a kick in the nuts. £12k missing from a £1.2m portfolio is a tickle under the chin.
- Location
- Somewhere wet & hilly in NW England.
That is a very good point.
My wife wasn't overly interested in the early stages of us properly managing the domestic finances apart from the 'is it okay to downshift?' angle.
Then, shortly after we started running our new process she said "look we have all this money scattered about but I don't know where exactly it is" - we obviously solved that issue.
We have some friends in couples where one person (usually male) is very precious about holding the financial reins with their partner not having a clue re their financial position and tbh they would be up a creek without a paddle should the 'rein-holder' die.
Another reason why we strongly believe in shared finances; within marriage at least.
Can't understand married couples who do not share their finances. Each to their own of course.
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Chislenko
Veteran
Totally agree Spokey, you only have to witness all the dormant accounts sitting in Banks, Building Societies etc that people are unaware their relations had.
gbb
Legendary Member
- Location
- Peterborough
Ive said before, take responsibility, take care, it's one of the very best things you can ever do.
We married young, that puts a financial burden on you. I had a very modest paid job for 23 years while we were bringing up the kids, my wife occasionally worked part time, pin money kind of thing. It was ALWAYS a struggle making ends meet.
But we budgeted relentlessly, where we took loans, we paid them off asap, we saved whatever we could. Brought our modest house at 40
Slowly slowly, you get topside. I did get a well paid job for the next 10 years and the upshot is..
At 64, i have no mortgage, virtually no credit card use or debt, anything and everything we have on the never never could be cleared if i lost my job tomorrow
On paper, we can scarcely believe our worth. I never earned big big money, but we budgeted and lived as much as possible within our means, sensible cheap cars, never waste money. It really is amazing what you can achieve.
