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  • FIRST POST
    • Hutchch0920
    • By Hutchch0920 4th Mar 16, 12:39 AM
    • 288Posts
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    Hutchch0920
    K&L's 2016 FTB deposit & round the world travel savings diary
    • #1
    • 4th Mar 16, 12:39 AM
    K&L's 2016 FTB deposit & round the world travel savings diary 4th Mar 16 at 12:39 AM
    We are a couple, in our mid-late 20s, met about 6 months ago and quickly knew we wanted to plan our future together. So here we are.

    When we met, Keffka was in about £3k of debt with about £50 a month spare to live off after bills - so no disposable income to clear it with. At the beginning it looked like a bit of a mountain to climb!

    We started off with a big eBay clear out and wiped £700. After a couple of months I moved in and started to pay 'rent' money to him (although we live with Keffka's parents), which knocked off another £900 in 3 months.After Christmas Keffka decided to sell the Audi that he was paying £360/month in finance on. After settling the finance we had £1k left, so we bought a £500 2002 Ford Focus and put the rest against his debt. Then finally in February the last piece of the debt puzzle fell into place. After reading one of our Martin's guides to reclaiming money from packaged bank accounts I figured Keffka could have quite a strong claim. So we submitted it through the Resolver app one weekend in February and within two days the bank had rang to offer to pay the £2k worth of fees back! We were over the moon....his debt was finally cleared after 5 years!

    So now our saving diary can begin in earnest. Between us we've decided we quite like the idea of having a diary to look back on at the end of the year, something to keep tabs on us and to keep us going. We have two big dreams, to go travelling for 6-12 months and to buy a house to bring our (future) family up in. So we're doing our best to save all our 'diamonds' now, while still having a bit of fun.

    As of the beginning of March we've got about £9k over various accounts and our aim is to save another £10.5k to the end of the year which is mostly made up on wages and being sensible with our spending. Our stretch target is to make an extra £2k (or £200 month) on top of this and that's where the fun comes in! Our eBay wins are probably coming to a close now, so our main sources will be mystery shopping and odd jobs that Keffka's family give us.

    his month we're going skiing with the parents so I bought some ski gear and I'd love to make that back so if we can exceed our target that would be super!

    That's all for now.
    Lubi x
    Last edited by Hutchch0920; 03-08-2016 at 1:47 PM.
Page 3
    • savingwannabe
    • By savingwannabe 31st Jan 17, 5:43 PM
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    savingwannabe
    Well done on interest! Good luck with the hols. Sounds great.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 10th Feb 17, 11:54 AM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    Hmmm so I've got something like £60 for the next 14 days to get me from work and back and pay my £20 phone bill. This is doable if I commit to cycling the days that I can. If I get another £4 in tasks on Roamler then I can cash out £20 and that will make life easier. Also got a couple of eBay sales going through which I can post tomorrow.

    Basically I bought Kefka a PS4 for between now and November and joined the gym (couldn't get round the £20 joining fee) so that's all my disposable cash gone for the month!

    We've got £55 in our current account for food, think that should be fine. I don't regularly get Abel and Cole boxes but every few months they'll send a discount voucher so I've got a half price box being delivered next week - £11 for 9 different fruit and veg selections. Doubt this is cheaper than Aldi but it's nice for a treat :-) We also had a 60% off Gousto box, 4 meals for 2 for £16. Was nice to try a few recipes (I'm a bit unimaginative when it comes to cooking) but even at 60% off I thought it was expensive and since OH is bulking (putting on muscle) the portions did need some padding out in places!

    I am planning to talk to my housemate about whether we can AirBnB the spare room while it is vacant. I don't know if he'll go for it. I was going to suggest a profit split between all three of us, but perhaps he will object to it seeing as it's his brother's house. Guess I won't know until I ask.
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • Skint yet Again
    • By Skint yet Again 10th Feb 17, 5:36 PM
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    Skint yet Again
    I am new to saving and have just read your blog and wanted to say well done on how you handled the situation with your MIL and well done on the savings.


    Congrats on getting engaged and hope you have a fab time on your travels.
    Aims for 2017 -
    1. save as much as possible. spend as little as possible but still have a social life !
    2. no takeaways !
    3. shop once a week - no "top-up" shops - no unnecessary spending !!
    • Hutchch0920
    • By Hutchch0920 13th Feb 17, 10:36 PM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    Hey Skint Again

    Funny day today, sold something on ebay for £1.20, postage £2.85. My colleague was going to the post office so I asked her to post it for me and wrote 2nd class on the corner. She comes back and gives me the receipt.....posted it signed for....£3.95 after ebay fees that's a loss haha

    Got to Aldi and the milk is priced as £1.39 on the shelf but rings through the till at £1.45 so they refund me the 6p aha
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • Hutchch0920
    • By Hutchch0920 16th Feb 17, 10:46 AM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    I've been listening to a really interesting podcast called Meaningful Money. One of the things that really struck me was that if your money is not earning the equivalent of CPI/RPI then you are essentially losing money because it will be worth less the further into the future we go.

    Our Nationwide Regular Savers (5%) are coming to an end on the 24th and I am at a bit of a loss for what to do next. I am keen to invest our house deposit (£18k) which we wont need for the next 2-3 years. Off the back of the performance of my pension so far I am interested in opening a stocks and shares ISA. Because of my age I opted for high risk profiles so they are mostly 4/5 or 5/5 and it's earned 14% when I compare deposit vs value.

    Given the medium term length of my planned house deposit investment I would choose lower risk funds so I guess would expect a return of 5-10%. If that was not viable, I'd look at the Ratesetter ISA and lock the cash in for a year at around 4%.

    More research needed before any decisions are made. I just feel like having it largely in one place will be easier to manage. Plus applying for new bank accounts to take advantage of 3% here and 4% there is such a faff. Everywhere requires proof of address etc and since we are living bills included, and I have paperless banking it's a pain proving where I live.
    Last edited by Hutchch0920; 16-02-2017 at 10:49 AM.
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • savingwannabe
    • By savingwannabe 16th Feb 17, 10:51 AM
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    savingwannabe
    I've always been scared of stocks and shares isas as I am worried they will lose money and I might end up with less than I invested. I am risk averse. I will find this podcast and listen.

    It is good that you are researching. I reckon should put this post on the thread for investments in the other boards. An expert can give you advice.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 22nd Feb 17, 10:16 AM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    Hi SW,

    In the end I spent about half a day using TrustNet to narrow down the different options available. I decided on the AXA platform as MSE had negotiated one year fee-free for us I then chose one of their "All in One" funds (the Architas) and then opted for a slightly lower risk multi asset fund (the Fidelity).

    Architas MA Blended Moderate S Acc (charges 0.76%)
    Fidelity Mlti Ast Inc Y A £ (charges 1.13%)

    Since listening more to the podcast it suggests that the main portion of the holdings should be in passive funds so I will need to look into this more and will probably buy a further £500-1000 in the coming months to balance it out.

    I've also got Chris to set up a Ratesetter and loaned £1,000 to be eligible for the £100 welcome and my £50 referral. It's loaned out at 4.5% so in a year's time that will have made 19.5%! Obviously if we loan more that will go down, but it is still an incredible return. Hopefully it doesn't all go belly up

    Can't wait for Friday and payday! I don't think I've done as well this month, money seems to have disappeared for no reason. I need to be more accountable next month. Every £1 counts. For every £60 we save, that's an extra day travelling!
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • savingwannabe
    • By savingwannabe 22nd Feb 17, 11:54 AM
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    savingwannabe
    This sounds fabulous. Your investments are a bit complex for me but the returns sound great.

    Blimey £60 a day it was really cheap when i travelled in the olden days but i only went to youth hostels and they used to be cheap and this was ages ago. It really will be a trip of a lifetime I am so envious.
    Last edited by savingwannabe; 22-02-2017 at 11:56 AM.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 22nd Feb 17, 1:38 PM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    Just came back on today to report my success with the deposit protection scheme.

    Our landlord from our previous address levied several charges against our deposit, a few of which I did not agree with. We went through the adjudication process and I received the decision today which is

    Hutchch £36
    Landlord £7

    Although they did not agree with some of the arguments I had put forward, the landlord also failed to establish why the charges were so, allowing the adjudicator to largely rule in my favour.

    I now need to read up on the process for taking our current landlord through the small claims court for breach of contract. I do not believe that our current deposit has been protected and know we could be awarded up to 3 times the value of it if that is the case. But I have no idea of the process and whether we would need to be in the country to do this. I also don't want to do it until we're about to move out as his brother also lives in the house and I see that it has the potential to get a bit nasty.
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • savingwannabe
    • By savingwannabe 22nd Feb 17, 2:29 PM
    • 12,907 Posts
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    savingwannabe
    omg. That sounds so stressful. I am glad you got some money back. I hope someone can give you advice. Good luck.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 24th Feb 17, 11:08 AM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    OH and I have reviewed our budget for the month. Last month we didn't do too well, partly because we bought his flights for our holiday, and also partly because he's 'bulking' at the moment and basically eating me out of house and home. So I've asked him to contribute more to food this month and take it out of his 'lifestyle' budget.

    eBay has gone really dead. I don't know if it's because I've now got a negative and then a neutral in a row? One item Royal Mail lost and the second I couldn't send as I hadn't realised it was damaged until I packed it! :-|

    Anyway our target for savings this month is £1250....it is do-able but we need to keep a close eye on the food and lifestyle budgets and not overspend.

    ps SW ...on the £60 a day thing, I reckon some of the day will be much cheaper, if all we're doing is eating and admiring the view, but it's stuff like hot air ballooning in Bagan that will really push the budget up!
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • savingwannabe
    • By savingwannabe 24th Feb 17, 11:24 AM
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    savingwannabe
    OMG. Good luck on ebay.

    I used to go ballooning about 25 years ago. I am too old now but still dead jealous. Fabulous holiday here you come.

    Can you shop at an Aldi for cheaper food?
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 27th Feb 17, 1:04 PM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    I've never been in a balloon before but the photos look amazing!!

    Success on the tax rebate front. I helped OH put in a claim for a uniform tax rebate (Thanks Martin!) and he's had letters today to say they owe him about £70...worth half an hour of our time :-)

    I also found £5 in Sainsburys on Saturday and completed two mystery shopping tasks yesterday for £10.

    Keffka has also put his gaming computer on eBay and it fetched £60 more than he paid for it!

    So that brings our total extra cash for the year to £600, which is quite astonishing really. Although we've spent a little bit of it, it enthuses me to keep going and do even more.

    Come back to edit that I've just logged into my emails to see that Ratesetter have given me my £50 referral fee and that my interest on my Nationwide regular saver has been paid and it was £20 more than I was expecting at £181! Very pleased :-D Keffka also gained £95 on his regular saver. All in all a very good month.
    Last edited by Hutchch0920; 27-02-2017 at 1:20 PM.
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • Skint yet Again
    • By Skint yet Again 27th Feb 17, 1:24 PM
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    • 18,289 Thanks
    Skint yet Again
    well done on the ebay sales & extra income in what a great month ! I've only sold a few things on ebay and 2 went for more than we paid for them - DS's violin we bought at car boot & a jacket similar to one worn by a band he liked when he was younger (my chemical romance?)
    Aims for 2017 -
    1. save as much as possible. spend as little as possible but still have a social life !
    2. no takeaways !
    3. shop once a week - no "top-up" shops - no unnecessary spending !!
    • savingwannabe
    • By savingwannabe 27th Feb 17, 1:29 PM
    • 12,907 Posts
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    savingwannabe
    I was dragged to one of their gigs once!!!lol.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 17th Mar 17, 4:53 PM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    My friends used to love My Chemical Romance! I was not a fan.

    Having a real think about money and future right now. No wonder there's a black hole where private pensions should be. The plethora of products and options is confusing at best. I don't really know whether I should get a LISA or not....guess I need to research it and figure if the money would do better in a traditional pension. Literally no idea.

    I've opened a S&S ISA and bought into four different funds, two active and two passive. Having listened to the Meaningful Money podcast it seems I need to increase my holding in passive, so once I get paid I'll do that. I highly recommend that podcast, it is excellent.

    On the upside we've saved an extra two days travelling this month and made a pretty wall chart to keep track.

    I've just started using a new app where you take photos of job ads in your area. I've done loads but pretty skeptical about it as 90% of them haven't been checked yet....perhaps there's a backlog.
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • savingwannabe
    • By savingwannabe 17th Mar 17, 5:25 PM
    • 12,907 Posts
    • 46,468 Thanks
    savingwannabe
    Pensions sound so complicated and I am much older than you. I was fortunate in that I have a good occupational pension. It is a bit of a minefield and I still don't know much about it. I applaud you for investigating.

    Well done on your extra earnings. I like the wallchart idea.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Hutchch0920
    • By Hutchch0920 21st Mar 17, 2:30 PM
    • 288 Posts
    • 485 Thanks
    Hutchch0920
    Payday soooon! 4 days to go and I actually have cash in my account for a change!! Usually I'd be overdrawn by now. OH and I had the day off together yesterday as I had a long weekend of cheerleading...over the weekend I spent far too much on food for what I'd like but there wasn't much I could do about it save for sitting in the restaurant but not eating anything...bit too extreme even for me.

    OH and I had a walk around and did a couple of tiny mystery shop tasks so I could cash out. We also broke into our savings jar to fish out all the £1 coins that will go out of circulation soon (or is that the £5 notes?) I've never had so much change! So many 1p, 2p and 10p!!
    Save £12k in 2017 / Dec 2017 Travel Cash = £12,400 / £14,000 88.5%[/COLOR]

    House Deposit = £20,500 / £18,000
    • Skint yet Again
    • By Skint yet Again 21st Mar 17, 3:15 PM
    • 2,990 Posts
    • 18,289 Thanks
    Skint yet Again
    Well done on having money left before payday ! I don't get paid until the last day of each month you deserve that restaurant treat
    Aims for 2017 -
    1. save as much as possible. spend as little as possible but still have a social life !
    2. no takeaways !
    3. shop once a week - no "top-up" shops - no unnecessary spending !!
    • savingwannabe
    • By savingwannabe 21st Mar 17, 5:57 PM
    • 12,907 Posts
    • 46,468 Thanks
    savingwannabe
    I can't believe anyone cheerleads in this weather. I applaud you. It is soooo cold. I am here thinking about putting on woolly tights and knickers. I can't wait for the summer. lol.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
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