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  • FIRST POST
    • lessavyfav
    • By lessavyfav 17th Sep 16, 9:41 PM
    • 174Posts
    • 208Thanks
    lessavyfav
    The Next Chapter: Our Dream House Fund
    • #1
    • 17th Sep 16, 9:41 PM
    The Next Chapter: Our Dream House Fund 17th Sep 16 at 9:41 PM
    So, I've been married for two weeks now (which was the most fun, amazing day), a wonderful honeymoon in The Maldives, and now back at home, going back to work on Monday — yep, the honeymoon is definitely over!

    The next step for us is to continue saving for a deposit of our first home. Now, a little secret: I spent more than I wanted to on the wedding (paying extra little things for my mum, bridesmaid, flowers, taxis for family members visiting from abroad), and because my other half already outlaid more money than I did on the wedding, I don't want him to have to bail me out of the extra costs I put on my CC, to the tune of around £2400. He knows I've got an outstanding debt, but not of the exact amount because it makes me pretty embarrassed to be honest. I have a diary over at the Debt Free Diary section but I've started a new one here as I want to start afresh, and am hoping I'll be able to pay off the CC relatively quickly.

    After reading MSE, I discovered the lifeline that is balance transfer credit cards — so I've sent everything over to a Barclaycard for the next 21 months to give me some breathing space. I lowered my CC1 credit limit from £4k to £1400 and the balance transfer card from £6k to £4k. I've had CC2 for a few years, but it has a super low limit and high APR, so I'm going to cancel it this week.

    I have been saving an emergency fund (£100 a month), as well as towards a Help to Buy fund with £200 a month, so that's forced savings, but I know I need to do more. Next month will be a tough one - husband's birthday and my parents are pressuring me to meet them in Europe (they're visiting from Australia) but from Christmas, it should hopefully be smooth sailing.

    I know I need to be more disciplined: better with the grocery budget (which I look after), making an effort with eBay, and spending less on dinners with friends. Time to get my a$$ into gear: here's to the next chapter.
    0% Balance Transfer (ends May 2018) £1754.94/£2524.94 (69.47% there)
    Giant London-sized mortgage (started July 2017) £497344.45/£499,00.00
    Overpayments £700
    S&S ISA £534.40
    Regular Saver (started August 2017) £400
Page 4
    • lessavyfav
    • By lessavyfav 4th Jun 17, 9:45 PM
    • 174 Posts
    • 208 Thanks
    lessavyfav
    My diary is about to drop off on to page 2 because it's been so long since I last updated. Oops!

    I've been lucky to go on some holidays the past couple of months, but have generally been good with money, soon most of it will be wiped out when we move house. It's bittersweet really! We are hoping to exchange in the next couple of weeks and complete by the end of the month but I have quickly learned to not believe much of what the estate agents and solicitors say (other than our own, who's been pretty brilliant so far). We're so excited to get our own place, to be able to put our own mark on it is just AWESOME.

    I've been doing a little investing, just sweeping cash over to Moneybox app and putting it in a S&S ISA. I realised that the few pounds every week is not enough to do much so have been topping up — so far I'm averaging about £20ish per week but aiming to do closer to £100-120 per month. And once my 0% balance CC is up in May next year, I'll top it up further so it'll be closer to £250 a month. One thing I really want to do is get ahead with the mortgage repayments - just found out some family members of ours who are a few years older than us are about to buy their next family house mortgage free. Their situation is quite different to ours (started younger, different part of the UK NOT LONDON), however, I see they've been making good decisions about money even though they don't earn that much. They aren't even the type to be tight, they're always on holiday and very generous, so they aren't missing out. I aspire for us to be like that
    0% Balance Transfer (ends May 2018) £1754.94/£2524.94 (69.47% there)
    Giant London-sized mortgage (started July 2017) £497344.45/£499,00.00
    Overpayments £700
    S&S ISA £534.40
    Regular Saver (started August 2017) £400
    • savingwannabe
    • By savingwannabe 4th Jun 17, 10:34 PM
    • 12,789 Posts
    • 46,340 Thanks
    savingwannabe
    Hurrah for buying. Well done on investing and also for having inspiring relatives. It helps you to learn and work on your finances.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
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