Thursday, 16 March 2006


With two accountants now in our circle of friends, and Matt and April talking about buying a house, I have been thinking about our finances. Ant and I are blessed to be saving a bit each month, mostly because we have flatmates. Reading online today makes me wonder if we would be wise to take out an ISA, a tax-exempt savings plan that the government protects and promotes. I have yet to really understand the British tax system, and since Ant has been a student for so long he has never had to pay taxes.

I have been filing Canadian taxes for seven or eight years now, and really enjoyed it! So I know that the financial duties will fall to me in our marriage as well. We have both been keeping close tabs on our money, though, and we feel a partnership about our financial planning. Right now the purpose of our savings account is to put money aside for things like flights and a new computer. Matt and April are in the enviable dual-income position of possibly being able to buy a house soon, which is by far the best financial step in the UK at the moment. Perhaps next year we'll be their housemates instead of they being ours. I guess that we are probably a year away from being able to start looking for a house. Since Ant will have been recently graduated, we can get up to a whopping 100% mortgage as first time buyers. But at least we would be on the property ladder! My mum used to say that renting is like throwing money in a hole. How true.

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