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A House to call our own - The plan by madstacks

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· @madstacks ·
$1.10
A House to call our own - The plan
Yesterday I wrote a post about our dream to own a home, the challenges we face and how we will be charting the journey as we go, that post can be found<a href="https://www.proofofbrain.io/hive-150329/@madstacks/a-house-to-call-our-own-and-what-makes-me-go-to-work-in-the-morning"> Here.</a>

Today I will be following on from that and talking about the basis behind our plan of how to accomplish this, saving a quarter of a million is a double decade timeline project, but setting smaller targets will make things more manageable. 

100k will get us a very good deposit, so that's our first goal - again what seems an impossible amount to save. So I will be breaking it down into ten more manageable segments. 

***So 10 x 10000 pounds. That's our goal!***

saving £100000 sounds impossible, saving £1000 - 100 times? yeah that seems more possible!

How will we save our money??

Well interest rates are pitiful on savings, the best I can find is 0.4% ... This is not tempting. However I am not prepared to speculate on crypto, the stock market or gold as we have a limited time frame, I want to try and get enough for a deposit within a 4/5 year period and I don't think that's long enough to ride things out on speculative investments. 

***So - we are choosing premium bonds.***

For those that do not know premium bonds are like lottery tickets, you can win prizes - they cost £1 each and by holding them you get entered into a monthly draw - the minimum prize is £25 and the maximum is 1 million. All winnings are tax free. 

They are not perfect, and over too long they will erode the buying power of your money due to inflation - but for our current situation I think they are the best thing to do.

There is government initiatives to help people like me, one is called the lifetime ISA - both me and my girlfriend can put upto 4000 per year each into an account and the government will top it up by a further 1000 each, so a joint 8k will become 10k! great! the only thing is is can only be used on the purchase of your first home or retirement. 

 We will be making full use of this initiative, but will only put it in at the end of the tax year as the interest appart from the bonus is a mere 0.10%.

So everything into premium bonds, and once a year we put 4000 each into 2 x lifetime ISAs 

First investment has been made! 


![it beggins.jpg](https://images.hive.blog/DQmVSpxoQmyTSdQEdZJtG7ddkPCHMgxyZUNQ1dLMxNWUVjU/it%20beggins.jpg)



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@coininstant ·
It seems like pob would be the way to go. Imagine in 5 years u could buy the world! HODL POB! Look how fast POB has gone, POB gonna buy me a YACHT one day!
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@allcapsonezero ·
@coininstant I love this.  I'm not into yachts, yet... but I could get used to one I am sure.
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@madstacks ·
Haha well I am hodling my pob for sure:)



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@espandorr ·
> For those that do not know premium bonds are like lottery tickets, you can win prizes - they cost £1 each and by holding them you get entered into a monthly draw - the minimum prize is £25 and the maximum is 1 million. All winnings are tax free.

Not sure how this works tho, but it does sound interesting, but more of a gamble



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@madstacks ·
No gamble with them:) they cost £1 each, you can sell immediately for £1 when you decide to cash in, they never lose value and you get a free entry to the prize draw for each one you hold. The only way you can lose is from inflation eating into the buying power of your money,



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@espandorr ·
That's crazy tho 
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@hivebuzz ·
Congratulations @madstacks! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@madstacks/upvotes.png?202105100550"></td><td>You distributed more than 66000 upvotes.<br>Your next target is to reach 67000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@madstacks) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22109%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/147)!
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@informationvault ·
You are moving on the right path,good-luck on your goals....@madstacks



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@madstacks ·
Thank you!



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@madstacks ·
Thank you!



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@j85063 ·
Hope it goes well.
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@nevies ·
Good to see you taking your own destiny into your hands like this. I hear about this process all the time: decide what you want, find out what you need to get it and then go get it. So this is what it looks like to actually follow this process? I would have never known, I usually stop halfway into the process.

This premium bonds is a good idea and this ISA thing is really good too. My country can learn a lot from your country. 

For sure, with time you'd come up with other ideas, good luck on acquiring a new home, man @madstacks.



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@pixresteemer ·
<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 56 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-55-and-start-week-56) just started...you can now check the winners of the previous week!</center><center><sub>8</sub></center>
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@romirspc.tribe ·
Nice strategy to achieve your target, hopefully your dreams come true having your own house mate! :)



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@madstacks ·
Thanks man, appreciate that!



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