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  • FIRST POST
    • bobobski
    • By bobobski 2nd Jan 17, 10:05 AM
    • 530Posts
    • 1,257Thanks
    bobobski
    Doing it on my own: bobobski's house deposit diary
    • #1
    • 2nd Jan 17, 10:05 AM
    Doing it on my own: bobobski's house deposit diary 2nd Jan 17 at 10:05 AM
    Spending my Christmas break reading further around the forums is becoming a yearly tradition for me, and this year it's brought me to this forum (I usually stick to the essential money section). I'm in a very up-y down-y part of my life and thought keeping a quasi-public diary would help keep me accountable.

    So, to start with my current savings... (I update my signature at the end of the month so sorry for any confusion!):
    • First Direct regular saver: £3,600 (matures in February) (final £300 due to go in soon)
    • Flexclusive regular saver: £3,450 (matures in February)
    • TSB monthly saver: £1,250 (matures later in January)
    • FlexDirect: £200
    • TSB current account: £140.44
    • Halifax help to buy ISA: £3,000
    Making my current deposit fund £11,640.44. To clarify, I had expected a chunky bonus in July, hence leaving room in the two high interest current accounts, but it never materialised, so sadly I wasted the FlexDirect...

    Looking back through my YNAB, at the end of December 2015 I had £3,266.33 saved, and that was basically from opening the First Direct regular saver that February. This relatively massive jump in savings is largely attributable to the Save 12k challenge, for which I am extremely grateful.

    Separately, I am building an emergency fund, which current stands at £517.48. To have a fund of 6 months' expenditure - comfortably - would be about £12k but my plan is to have this fund at a minimum of £5k when I start my house purchase and continue to build it during the purchase process, which I'm aware can take months.

    As for my goals: I want to buy a house. I have done the maths with my maths-y friend and we have concluded that it doesn't make sense for me to go for a "starter" home on the basis that I should be able to afford my "dream" house within the next 5 years. I'm going to keep this under review because our maths was based on a number of assumptions about my ability to save and house price rises, so time may prove us wrong, but for now I'm sticking with Plan A. To clarify: the dream house is simply a house in the least bad cheap area in my town. Nothing big or fancy, not town centre, not even a particularly nice part of town really, but there are three cheap little regions and this is the least dodgy.

    What this translates into: £60,000 deposit + £15,000 "ancillaries" fund (SDLT, legal fees, surveys, furniture etc). Then we have to assume certain pay rises by my target mid-2021 to get a big enough mortgage... Oh it's all so difficult. It basically comes down to me trying to save as much as possible in a relatively short period of time, completely on my own! No inheritance, no gifts, nada. All the money I have now I earned myself.

    Aaaanyhow, I mentioned that this is a turbulent time for me. The company I work for has gone bust and is about to be wound up. Thankfully my team has found somewhere to go and this new place is keeping our salaries at their current level, but since they are a step-down from my current employer I don't envisage as good pay rises going forwards. So, having spent the last year doing all of my sums over and over again, that's all now in the bin and we need to wait and see what will happen. For example, this could well alter the assumptions that we made regarding "starter" homes!

    I have also been quite naughty over the last few weeks, largely around eating out and drinking... lots to mask the pain of everything happening at work. I've been so good financially all year but I kind of blew it in December - leaving me with no budgeted money for the weekly shop! Sadly I am into unbudgeted credit card spending now, as I really do not want to dip into my savings (and indeed I want to continue to save, even if it's less), and I do pay my card off in full every month. In practice all this means is that my savings for the first couple of months of 2017 will be less than hoped.

    So, I think that gives you a good picture of where I am. Wish me luck in pulling my socks up and continuing to save through 2017 no matter what life throws at me!

    Update end of January February:
    • First Direct regular saver: £3,600 £300 (matured, full £117 interest received, new account opened)
    • Flexclusive regular saver: £3,450 £500 (matured, interest of £127 received, new account opened)
    • TSB monthly saver: £0 (matured; rubbish interest rate now so I haven't opened a new one)
    • FlexDirect: £250 £1 (end of 5% period so I've downgraded to a FlexAccount for a year)
    • TSB current account: £182.40 £1,043.62
    • Halifax help to buy ISA: £3,200 £3,400
    • NEW BOS Vantage: £1,348.19 £5,000
    • NEW Tesco account 1 (used for emergency fund but now capturing overspill): £2,369.27
    • NEW Tesco account 2 (used for annual expenses but now capturing overspill): £643.68

    Making my current deposit fund £12,030.59 £13,257.57 with £300 set aside for my First Direct regular saver in a couple of weeks. The emergency fund (including money I have allocated for next month) now stands at £627.85 £740.73
    Last edited by bobobski; 28-02-2017 at 5:34 AM.
    #18: Save 12k in 2017: £2,145.88 / £12,000 (17.88%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £13,257.57 / £60,000 (22.09%) | Emergency fund by 31/12/2020: £630.73 / £5,000 (12.61%)
Page 4
    • savingwannabe
    • By savingwannabe 9th Mar 17, 6:36 PM
    • 12,267 Posts
    • 45,472 Thanks
    savingwannabe
    I hope you are rested. Take it easy. There are so many bugs around I'm not surprised you picked one up with your condition. It's ok to eat mcd's as you craved it and it made you happy. Get well soon. swx
    Savings Fund(Nov 2017) £6500/£8000 77%
    Happiness Fund (Dec 1st 2017) £50/£600
    Ask self: DO I NEED IT OR AM I BEING GREEDY?
    • bobobski
    • By bobobski 10th Mar 17, 6:03 AM
    • 530 Posts
    • 1,257 Thanks
    bobobski
    SYA yes it's feed a cold but what happens when you have a cold and a fever?? My excuse for the McDonald's is that I got a McFlurry and that helped to soothe my throat

    SW the weird thing is that I've been deliberately avoiding friends who are ill so I don't pick anything up! Unfortunately that's not how bugs work

    I'm back at work now because my big project has come in but I'm definitely not 100% better - hopefully a restful weekend will knock this thing on the head x
    #18: Save 12k in 2017: £2,145.88 / £12,000 (17.88%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £13,257.57 / £60,000 (22.09%) | Emergency fund by 31/12/2020: £630.73 / £5,000 (12.61%)
    • bobobski
    • By bobobski 11th Mar 17, 5:48 PM
    • 530 Posts
    • 1,257 Thanks
    bobobski
    Big project is slow to start and we're working towards it kicking off properly on Monday, so this is likely to be my last proper weekend for a while. I've spent it not doing very much so far I've done a lot of researching houses in my local area (my motivation...) and went to the big Tesco this week as I needed to buy brake fluid. I've never done any car maintenance myself before as I'm highly likely to break things but for £4 I thought I'd give this one a try - how hard can pouring something be?? Low brake fluid was one of the advisories on my MOT and no doubt the garage would have charged me £30 to do the same thing so I thought I'd try being a grown up for once

    I spent slightly too much in Tesco so I have £90 left for the rest of the month, thus reducing my budget for weekly shops from £70 per week to £45 per week. I might be able to do it, but if not and I overspend it's likely to be the lowest amount I've overspent by for a while! Baby steps...

    I'm mostly feeling better although my glands are still very inflamed and sore to touch. I need not to act like I'm better when I'm not - that always catches me out - so I'm going to have a restful evening and a restful day tomorrow

    I hope everyone's having a lovely weekend.
    #18: Save 12k in 2017: £2,145.88 / £12,000 (17.88%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £13,257.57 / £60,000 (22.09%) | Emergency fund by 31/12/2020: £630.73 / £5,000 (12.61%)
    • savingwannabe
    • By savingwannabe 12th Mar 17, 8:10 AM
    • 12,267 Posts
    • 45,472 Thanks
    savingwannabe
    Well done on buying brake fluid. You are saving yourself money. Cars are so expensive. You will gain confidence from this.

    Well done on project. Your job sounds exciting.

    I hope you can rest the rest of the weekend and your bug goes. Have a chill out day
    Savings Fund(Nov 2017) £6500/£8000 77%
    Happiness Fund (Dec 1st 2017) £50/£600
    Ask self: DO I NEED IT OR AM I BEING GREEDY?
    • Skint yet Again
    • By Skint yet Again 12th Mar 17, 8:14 AM
    • 2,423 Posts
    • 16,844 Thanks
    Skint yet Again
    Hope you are feeling better x Well done on the car maintenance. I'm sure £45 a week is doable but as you say not worth beating yourself up about it.
    Good luck with the new work project, sounds exciting but make sure you look after yourself too x
    Aims for 2016
    1. no takeaways !
    2. shop once a week - no "top-up" shops - no unnecessary spending !!
    • bobobski
    • By bobobski 18th Mar 17, 5:45 AM
    • 530 Posts
    • 1,257 Thanks
    bobobski
    Quick update from me today: now that my big project has started I've been super busy as expected. When I get busy at work I stop sleeping properly (caring too much about work really isn't always a good thing - I literally dream about my work!) so I've been getting up at 5am every day - even today (Saturday) - because I can't sleep. I'm going to spend the day in the office today and maybe tomorrow too, as there just isn't enough time during the week to do everything I need to do. I'd rather do that than work late into the night.

    I'm aware that my drinking has shot up. My routine is something like this: wake up at 5 --> work by 7.30/8 (after doing some surveys and things, or sorting out my holiday next weekend) --> work through the day and sometimes forget to have lunch --> leave work at sometime between 6.30 and 8 --> neck a bottle of wine when I get home --> repeat. This isn't healthy or sustainable. BUT it's only for a month or so, and if this project goes well I will have a very good case for a decent bonus, fingers crossed.

    Because of this my shopping (if I find time to do it!) will definitely be over my £45 budget this weekend, but that's ok. I haven't spent any money in the last week except £20 on a pair of headphones because my old ones broke and I cannot work without music, and £10 on three pairs of under-dress-over-tights-my-thighs-hate-the-summer shorts, both from Amazon.

    Right, it's 6.45 and I've already been up for 1 hr 45 and haven't got enough done. I'm gonna go shower and cook dinner at the same time like some kind of cooking/showing ninja then head to work.

    Happy weekend all!
    #18: Save 12k in 2017: £2,145.88 / £12,000 (17.88%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £13,257.57 / £60,000 (22.09%) | Emergency fund by 31/12/2020: £630.73 / £5,000 (12.61%)
    • bobobski
    • By bobobski 18th Mar 17, 5:47 AM
    • 530 Posts
    • 1,257 Thanks
    bobobski
    Dinner, breakfast, what's the difference! I am tired.
    #18: Save 12k in 2017: £2,145.88 / £12,000 (17.88%) | #86: Save £12k in 2016: £8,476.09 / £10,000 (84.76%)
    House deposit by 31/12/2020: £13,257.57 / £60,000 (22.09%) | Emergency fund by 31/12/2020: £630.73 / £5,000 (12.61%)
    • Skint yet Again
    • By Skint yet Again 18th Mar 17, 5:59 AM
    • 2,423 Posts
    • 16,844 Thanks
    Skint yet Again
    It sounds very stressful, I would just say try to eat something even if its only a snack like fruit and try to stay hydrated drink lots of water if you can. At least its only for a short time

    I know what you mean about the sleep pattern I have been awake since 5.30 my normal getting up for work time - but at least I am still in bed no rush to go anywhere today. Have a good day x
    Aims for 2016
    1. no takeaways !
    2. shop once a week - no "top-up" shops - no unnecessary spending !!
    • savingwannabe
    • By savingwannabe 18th Mar 17, 7:24 AM
    • 12,267 Posts
    • 45,472 Thanks
    savingwannabe
    Maybe make sandwiches at the weekend and take them to work with you. If you can take some fruit in too that is good so you don't get burned out as you are doing so much. Force yourself to do this as you have to look after yourself. I had a breakdown in my twenties as I lived and worked like you. Please learn from my mistakes.

    Also cut back on the wine. One glass less every day. Gradually then try to have no alcohol but drink soft drinks instead. Slowly, slowly as you are pickling your liver. You want your liver in the future when you are rich and going on holiday and having posh meals and champagne all round the world. Think of it that way. It is hard.

    Maybe once you are eating properly swap the wine time for some exercise. Walking or cross training for 20 mins that will release the same endorphins and make you happy and healthy but only if you are eating proper food.

    Hark at me. I sound like I know it all. I am remembering me. I still make mistakes now but we are all helping each other together and writing this down has given me ideas of what I can do to improve my diabetes which is up the spout.

    Don't beat yourself up just make one change at a time and look forward. Your life is going to get better and you want your health to live it to the full Bobobski. You are part of our MSE family now and we have got to help each other along. You all help me so much
    Last edited by savingwannabe; 18-03-2017 at 7:31 AM.
    Savings Fund(Nov 2017) £6500/£8000 77%
    Happiness Fund (Dec 1st 2017) £50/£600
    Ask self: DO I NEED IT OR AM I BEING GREEDY?
    • savingwannabe
    • By savingwannabe 27th Mar 17, 3:15 PM
    • 12,267 Posts
    • 45,472 Thanks
    savingwannabe
    Bobobski are you ok? I hope you are enjoying the weather.
    Savings Fund(Nov 2017) £6500/£8000 77%
    Happiness Fund (Dec 1st 2017) £50/£600
    Ask self: DO I NEED IT OR AM I BEING GREEDY?
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