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Monday, 2 April 2007

money decisions last week

I forgot to post my money decision for last week. As anticipated, I received a pay rise last Friday. What was not anticipated was the promotion and the generous nature of the rise. Sadly, I'm not rich beyond my wildest dreams, but my planned house purchase now fits very nicely within my budget.

On the debit side, I scraped through the last few days until payday and managed, just about to have more money than month in my spending allowance. Partly accomplished by successfully suggesting to a friend that we postpone our social event until after Easter.

I've also been inspired by Silicon Valley Blogger and have applied for disability insurance. What I've got is an accident and sickness insurance that would pay out for 12 months with back to day 1 cover from Ant Insurance, and income protection insurance from Axa that would pay out after 12 months. Taken together with my emergency fund, that sees me covered very well should any illness or accident befall me and leave me unable to work.

2 comments:

Golbguru said...

Just curious; how expensive is disability insurance in the UK?

plonkee said...

For the short term stuff, I'm paying £13 (approx $22) a month which gives me 12 payments of £916 (appprox $1560).

This one is fixed contributions and fixed payments.

For the long term stuff, I'm paying about the same to receive benefits of £1200 (approx $2100) per month starting 12 months after the point of claiming.

The benefits increase in line with inflation and the payments increase in line with 1.4 times inflation.

Obviously coverage depends on personal factors, I'm 27, a non-smoker and in good health.