Prosperous soul in the making

12357396

Comments

  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    I've been trawling mse to look for anything else I may be able to reclaim and found some. It turns out that B@rclays paid £156 tax on my behalf on the money they refunded me and I should be able to claim that back using an R40 form - job for the weekend. That will be amazing if I get that back too - may also get some other money refunded as I didn't know there was any tax free elements to interest payments. Looks like OH will need to do a form too as paid into a joint bank account.

    OH has reported the pot hole which is the first step in claiming. He is getting his car fixed on Saturday - £111 and then will need to send off a claim. Let's hope that doesn't take too long. He reckons his tyre depth on his existing rear tyres will last at least another month so waiting.

    This weekend having an eye test - going to @sda which tends to be the cheapest in my area. Hoping don't need varifocals but I may do... Plan to list some items for sale at the weekend on facebook or ebay or gumtree. Hopefully they will help to the £10 a day challenge in both Feb and March. Would be good to raise some extra cash just to all these unexpected bills even without considering the debts...
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Today paid normal payment of £273 off a loan (APR circa 3.2%).
    So far since pay day mid Feb - repaid £703.38
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Sold a bottle light for £12 today - my first sale! Woohoo. Gives me more confidence in my pricing and that others will potentially buy.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    So between last night and getting up at 6am today, I have glass painted 6 more bottles and jars ready to sell. :) They are all images at the moment - and I am still debating whether to add any words or let the pictures speak for themselves. I am currently targeting sales at Mother's Day and Easter. Some of the things I make are also likely to become family and friend presents for any birthday or special occasions along the way.

    I still have about 15 pieces of glass to decorate but as I get to the end of those I will ask friends and family for more of their recycled items. I got given some fantastic candle jars - including ex-yankee candle jars as well as wine and @ppletise bottles etc so have a choice of making bottle lights or jars for candles. :money: Even the candle jars could become jars for make up or cotton buds etc.

    I also use coffee jars - D0uwe Egb3rts are my favourite as they have a glass lid with a rubber seal. In the past I've make "Life Makeover" or "Journal" in a jar or "40th" presents using jars. I got that idea from the MSE Celebrations Board years ago. I've also had some interest at work in the wooden hearts I've decorated with decoupage and transparent printed words that I stuck on afterwards. :cool:

    A friend of mine is getting married soon and rather than giving money, I want to make them a bead and button heart shaped wreath style wall hanging. I've got most of what I need - just need a few more beads. Planning to trawl charity shops for them as you get a lot more than when buying new. A pot of beads at H0bbycr@ft is about £7 ish and you don't get enough for what I want to make. Many of the beads they sell online are too small. If this one works out well - I hope to use it as a template to make others. The idea came from an upcycling/vintage craft book I have. Picture Kirsty's homemade home - although this was a cheaper version...:rotfl:
    • A friend of mine told me where I can get a trial market stall for £11 a day on an indoor market and somewhere else where I can get a craft stall for £5 a day.
    • Still weighing up the cost of insurance though. (It looks like it could cost £100-150 a year) It's a catch 22 - need some money to pay for the insurance - but risky selling in public without it.
    • I potentially also need to buy some candle warning stickers and some "decorative item only - not suitable for 0-3" type stickers (say £5).
    • Ideally I would also have business cards (£25-50). But again - before I print them - I could do with some money - and if things don't sell I don't want too big an upfront cost.
    • Again, if I was going to give out business cards - I would want a website (£7 for the name I want and then possible a hosting package) or facebook page (free) to link to which is again all time and money.
    • This all brings me back to the tax issue - as I can earn about £1K before having to register for tax - but as soon as I go over that I need a company set up (about £20 and then on-going liabilities for accountancy reporting etc). I really need some accountancy advice but am unsure where I could get that free / low cost. I earn decent money so don't want everything I make swallowed up in tax. Judging by the list of costs above though it could take a while for me to make any profit at all.
    • I do have other business ideas that long term I would like to do through a company if I set one up including running various workshops - Christian Retreat style, Crafts, Writing, Coaching and Vision Boarding. I have training in all of them. I would also like to sell clothing with my company logo on that I think could work - a friend has a company that could source this for me. I have also written a teen's book that I hope to publish at some point and channel the money through the company to minimise tax.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Good news - can get varifocals at @sda for the same price as standard.

    I have made my first heart and have enough beads left to make at least another one possibly two. I need to get some sort of ribbon or chain to hang it up with now.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • Well done on the sale!

    I can see your dilemma re selling larger amounts.
    Debt free Feb 2021 🎉
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Thanks for commenting Drawingaline. I think I will use some of my monthly allowance in March towards setting up a company - even if I leave it as dormant initially and perhaps buy the website name. Still not listed anything on facebook buy and sell group. Had a nap for about 3 hours this afternoon, I was absolutely shattered.

    I need to send about £94 of clothes back to Debenhams but that will need to wait until Monday now.
    I still need to fill in the tax form but don't have the mental energy right now - and could do with finding the letter from B@rclays.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Reviewed our spends this month. I am still fritter spending - home bargain, poundland etc. Need to bring that under control as that is taking £100+ a month. Does include toiletries, groceries etc but not in budget.

    Feeling the pinch now giving DS £400 pcm for uni. Before Christmas was only spending about £75 a month on him unless he had an emergency so a big jump. Not quite tightened our belts enough to compensate.

    Gone through our anticipated payments for February and even if we were pretty good from here on in - going to end up using approx £900 of our savings. That is due to some unexpected things:
    • £111 car bill
    • £99 opticians bill
    • Plus
    • Had missed £273 recurring payment out of my original forecast
    • DH has a one off pre-planned trip down South for which we've allowed approx £100 plus fuel
    • Allowed £150 for new utility supplier as they want to take first payment 21 days before switch (so two payments in one month - also have debt with existing supplier:eek: as the DD is set too low)
    • Unplanned spends of circa £150 - need to get on top of this.

    So unfortunately - I think I am going to have to do a balance transfer rather than use savings to pay down debt when 0% runs out on part of my balance on 1 April. Have several 0% offers available so not an issue per se but just hoped to be in a better position. Will need to become a lot more disciplined.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • savingholmes
    savingholmes Posts: 27,100
    Name Dropper First Anniversary Photogenic First Post
    Forumite
    Really frustrated - our hob slants slightly - I had cooked the majority of a spaghetti bolognese - went to get chopped tomatoes and the pan slid while my back was turned and the whole lot ended up on the floor!!!! :eek:

    So disappointed. Waste of money and effort. Was trying to get ahead and aid my weightloss by batch cooking and just ended up with a mess. Roped DH in to clean the mess up as it's too disheartening.

    Will then need to go back in and cook a couple of chicken casseroles. One is for a friend who has just had an operation and we are part of a meal rota. We're due to see them tomorrow...
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • milann
    milann Posts: 10,509
    First Post Name Dropper First Anniversary Combo Breaker
    Forumite
    Hi SH found you.

    Wow ds at uni and teenage dd - doesn't seem 5 minutes since you were looking for things to decorate dds bedroom.....how time flies when you're having fun....

    The craft ideas sound good - I've played with the idea many times but for me 'having' to make crafts would take the pleasure out of it as I make when I feel like making - I made cakes at home for many years for friends and friends of friends - I didn't make much for the effort that I put in and I got fed up of it taking over my kitchen and having to buy takeaway as my kitchen was full of cake bits..... I considered premises but decided it wasn't for me. I occasionally do a cake as a present and enjoy it again and find it relaxing whereas it was getting a chore. Lol I think my hobby became collecting craft stuff rather than crafting - I've still got a room full of card,papers, stamps and material and rarely get round to doing things although I've knitted a lot for my 2 granddaughters.. Good luck with your venture :beer:
    January spends - £587.58
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards