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  • FIRST POST
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 12th Sep 17, 3:43 PM
    • 4,469Posts
    • 5,768Thanks
    Mimi Arc en ciel
    SOA - go for it!
    • #1
    • 12th Sep 17, 3:43 PM
    SOA - go for it! 12th Sep 17 at 3:43 PM
    Hi everyone,

    I'm in debt to the tune of £11k. I have the funds to pay these debts off however as my debts are 0% that money is sitting in a bank account earning me interest until I need to pay it back. I am making the monthly minimum repayments so I am not being charged.

    So back to the SOA - Its been a while since I did an SOA check so thought I'd do one to make sure I'm on top of things. Few comments beside each bit

    The "annual" bills (Car insurance for example) - I've paid these in full, I then put what would be the monthly payments into a high interest account until they are due.

    Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 1
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1898.4 inc maintainence / Tax Credits
    Total monthly income.................... 1898.4
    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 92
    Electricity............................. 25
    Gas..................................... 27 - I have a coal fire, costs below
    Oil..................................... 0
    Water rates............................. 29.45
    Telephone (land line)................... 23.76 inc BB
    Mobile phone............................ 22.55 for me and DD1
    TV Licence.............................. 12.37
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 20
    Petrol/diesel........................... 130
    Road tax................................ 15
    Car Insurance........................... 27.06
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0 free prescriptions / medical card
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 13.56 inc contents
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 45
    Haircuts................................ 0 as and when, a friend does all 3 for a fiver
    Entertainment........................... 0
    Holiday................................. 40
    Emergency fund.......................... 55
    CC...................................... 136.01 I put this in a high interest account, the minimum payments for the cards come of this. MBDA repayment is £27, Virgin is around £50.
    My Savings.............................. 100
    DD2 Savings............................. 34.53
    DD1 Savings............................. 48.34
    Boiler Service.......................... 4.58
    Coal.................................... 43
    Brownies................................ 6
    Swimming................................ 22
    Horse .................................. 421 (Luxury I know! this is stabling, insurance, feed, shoes, everything)
    School Trips............................ 10
    New car................................. 100
    Total monthly expenses.................. 1733.21


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Virgin Credit Card.............5212......0.........0
    MBNA...........................2637......0........ .0
    Parents........................3000......50....... .0
    Total unsecured debts..........10849.....50........-


    Monthly Budget Summary

    Total monthly income.................... 1,898.4
    Expenses (including HP & secured debts). 1,733.21
    Available for debt repayments........... 165.19
    Monthly UNsecured debt repayments....... 50 (Remember the other repayments are already included above)
    Amount left after debt repayments....... 115.19

    Personal Balance Sheet Summary
    Total Unsecured debt.................... -10,849
    Net Assets.............................. -10,849



    Other than the horse () does my SOA look ok?


    (before anyone mentions it, Yes I know I am in a good position, It's taken me around 8 years to be in this position after my ex left me with a debt of £35k so I know how hard it can be, I am checking I am keeping on top of things so that I don't end up in the position I was in previously. Those struggling with debt and working their way out of it, keep going!!! you're doing great! )
    Last edited by Mimi Arc en ciel; 12-09-2017 at 3:46 PM.
    Very proud mummy of 2!
Page 1
    • chelseablue
    • By chelseablue 12th Sep 17, 4:17 PM
    • 2,287 Posts
    • 2,813 Thanks
    chelseablue
    • #2
    • 12th Sep 17, 4:17 PM
    • #2
    • 12th Sep 17, 4:17 PM
    I couldn't see any rent or mortgage on there?
    Mortgage starting balance 26.02.16 £231,294
    Mortgage after Year 1 £225,078
    • PurpleFairy26
    • By PurpleFairy26 12th Sep 17, 6:53 PM
    • 1,921 Posts
    • 12,901 Thanks
    PurpleFairy26
    • #3
    • 12th Sep 17, 6:53 PM
    • #3
    • 12th Sep 17, 6:53 PM
    Why are you paying buildings insurance with no asset to insure against?

    You should probably look at life insurance with 2 dependants

    You haven't listed your savings (unless you've deleted some lines from the SOA) given you have an EF amount and savings amount you put away each month.

    It's a bit difficult to comment properly without knowing about the property/rent/mortgage as personally I wouldn't be paying over £400 on a horse unless my mortgage was paid off for security.
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 12th Sep 17, 8:07 PM
    • 4,469 Posts
    • 5,768 Thanks
    Mimi Arc en ciel
    • #4
    • 12th Sep 17, 8:07 PM
    • #4
    • 12th Sep 17, 8:07 PM
    I don't have a mortgage/rent - I own my house outright. Savings - there's around £10k in various high interest accounts. I didn't put house price down, I'm nor sure what it's worth as I've done work to it (which is what the CC was used for)

    Life insurance is something I'm working on

    Horse - he's a new addition for this year. Me and both the girls ride and it worked out cheaper to buy than to keep having lessons.
    Last edited by Mimi Arc en ciel; 12-09-2017 at 8:12 PM.
    Very proud mummy of 2!
    • Potbellypig
    • By Potbellypig 12th Sep 17, 9:06 PM
    • 157 Posts
    • 68 Thanks
    Potbellypig
    • #5
    • 12th Sep 17, 9:06 PM
    • #5
    • 12th Sep 17, 9:06 PM
    Why anyone who owns a house outright and has £10k of savings would want to have £8k of credit card debt is beyond me. But anyway, you're posting on a board for people who would like advice on being debt free. If you want to be debt free, pay off the credit cards. Simple.
    • Lucky Duck
    • By Lucky Duck 12th Sep 17, 9:18 PM
    • 115 Posts
    • 66 Thanks
    Lucky Duck
    • #6
    • 12th Sep 17, 9:18 PM
    • #6
    • 12th Sep 17, 9:18 PM
    That does seem to be the obvious answer
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 12th Sep 17, 10:16 PM
    • 4,469 Posts
    • 5,768 Thanks
    Mimi Arc en ciel
    • #7
    • 12th Sep 17, 10:16 PM
    • #7
    • 12th Sep 17, 10:16 PM
    Because there are different types of debt. Whilst it's a 0% debt I'm not paying any interest on it, the money is sat in a bank earning 5%. If I were to lose my job tomorrow then obviously I wouldn't have much in savings left because I'd pay the debt off first and like I said I want to check that I'm thinking/doing it the right way so I don't end up back in the scenario I was 8/9 years ago.

    I know it's the DFW board, doesn't mean that I can't ask for advice regarding spenditure. I've posted on the savings board about moving the debt repayment money around to get for Max interest because I thought that was the relevant board for that, the DFW is, and has always been, the best one for SOA's. This board helped me an immense amount 8 years ago when my ex walked out leaving me in loads of debt with a newborn and a tumor, advice doesn't stop just because a debt is 'manageable' - circumstances change, so whilst I might seem to be OK now that doesn't always mean that will always be to case and checking things doesn't hurt
    Very proud mummy of 2!
    • Potbellypig
    • By Potbellypig 13th Sep 17, 9:26 AM
    • 157 Posts
    • 68 Thanks
    Potbellypig
    • #8
    • 13th Sep 17, 9:26 AM
    • #8
    • 13th Sep 17, 9:26 AM
    I'm not sure what advice you're after. Yes, you've done great with your finances. Yes, you're in a wonderful position. You therefore have 2 options - keep doing what you're doing and let the credit card debt sit there, or pay it off and keep saving every month.

    I know which one I'd do, though I don't own a house outright, have £10k of savings nor own a horse. So it's easy for me to choose.
    • EssexHebridean
    • By EssexHebridean 13th Sep 17, 12:46 PM
    • 8,149 Posts
    • 43,037 Thanks
    EssexHebridean
    • #9
    • 13th Sep 17, 12:46 PM
    • #9
    • 13th Sep 17, 12:46 PM
    Hi Mimi - you're absolutely fine to post on here for people to cast an eye over your SOA -
    and well done for the position you find yourself in.
    I'll put my comments in green for a change as you've used red within the SOA


    Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 1
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1898.4 inc maintainence / Tax Credits
    Total monthly income.................... 1898.4
    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 92 Single person discount applied I take it?
    Electricity............................. 25 Just keen an eye on your tariff to make sure you're on the best one.
    Gas..................................... 27 - I have a coal fire, costs below If your fire will also burn wood then think about keeping an eye for useful bits of wood when you're out riding and going back to collect later
    Oil..................................... 0
    Water rates............................. 29.45
    Telephone (land line)................... 23.76 inc BB Have you checked this is the best deal you can get?
    Mobile phone............................ 22.55 for me and DD1 nice work!
    TV Licence.............................. 12.37
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 20
    Petrol/diesel........................... 130 Keep an eye on driving economically and maximising journeys as this is evidently quite high mileage - try to avoid jumping in the car just to pop for a pint of milk, for example.
    Road tax................................ 15 You set aside money for this and pay annually I presume?
    Car Insurance........................... 27.06 You set aside money for this and pay annually I presume? usual rules apply with running through the comparison sites each year
    Car maintenance (including MOT)......... 30 You do actually put this aside I take it?
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0 free prescriptions / medical card
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 13.56 inc contents
    Contents insurance...................... 0
    Life assurance ......................... 0 I'd seriously consider this in spite of the house being paid off - with 2 children it's a bit of reassurance
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 45
    Haircuts................................ 0 as and when, a friend does all 3 for a fiver
    Entertainment........................... 0
    Holiday................................. 40
    Emergency fund.......................... 55
    CC...................................... 136.01 I put this in a high interest account, the minimum payments for the cards come of this. MBDA repayment is £27, Virgin is around £50.
    My Savings.............................. 100
    DD2 Savings............................. 34.53
    DD1 Savings............................. 48.34
    Boiler Service.......................... 4.58
    Coal.................................... 43
    Brownies................................ 6
    Swimming................................ 22
    Horse .................................. 421 (Luxury I know! this is stabling, insurance, feed, shoes, everything)
    School Trips............................ 10
    New car................................. 100
    Total monthly expenses.................. 1733.21


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Virgin Credit Card.............5212......0.........0
    MBNA...........................2637......0........ .0
    Parents........................3000......50....... .0
    Total unsecured debts..........10849.....50........-


    Monthly Budget Summary

    Total monthly income.................... 1,898.4
    Expenses (including HP & secured debts). 1,733.21
    Available for debt repayments........... 165.19
    Monthly UNsecured debt repayments....... 50 (Remember the other repayments are already included above)
    Amount left after debt repayments....... 115.19

    Personal Balance Sheet Summary
    Total Unsecured debt.................... -10,849
    Net Assets.............................. -10,849



    Other than the horse () does my SOA look ok?


    (before anyone mentions it, Yes I know I am in a good position, It's taken me around 8 years to be in this position after my ex left me with a debt of £35k so I know how hard it can be, I am checking I am keeping on top of things so that I don't end up in the position I was in previously. Those struggling with debt and working their way out of it, keep going!!! you're doing great! )
    Originally posted by Mimi Arc en ciel
    Aside from a few odds and ends that looks pretty solid. Personally I think with your income AND two children to think about I'd want to know that the debt figure - even at 0% - was a bit less of a percentage of annual income than that - I'm pretty risk averse on such things though.

    One trick you may want to employ - set your CC payments at a level a bit above the minimum - then rather than the sum paid dropping each month as the capital balance falls, it stays the same, meaning a) you make slightly more impact each month as time goes on, as a percentage of outstanding balance and b) You don't gain the amount that the minimum payment has dropped by without accounting it. Otherwise as the payments drop that's £20 or so a month that will be sitting in your account unallocated and liable for frittering? It also of course leaves you a bit less to pay off when the 0% period ends, which in term means if for any reason you can't get accepted for a new deal, it's not so much of an impact on savings.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • EssexHebridean
    • By EssexHebridean 13th Sep 17, 12:48 PM
    • 8,149 Posts
    • 43,037 Thanks
    EssexHebridean
    I'm not sure what advice you're after. Yes, you've done great with your finances. Yes, you're in a wonderful position. You therefore have 2 options - keep doing what you're doing and let the credit card debt sit there, or pay it off and keep saving every month.

    I know which one I'd do, though I don't own a house outright, have £10k of savings nor own a horse. So it's easy for me to choose.
    Originally posted by Potbellypig
    In fairness the OP has explained several times that she was simply after people to cast an eye over her SOA to make sure it looked reasonable - it's easy for odds and ends to creep onto spending over time if you're in her position in life - so it's a sensible idea to review spending and budgets from time to time.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • copperclock
    • By copperclock 13th Sep 17, 1:01 PM
    • 217 Posts
    • 242 Thanks
    copperclock
    It looks like you're doing a good job on your SOA at the moment. Obviously, the horse is a big luxury, but you know that.

    My question is: how old are your children?

    At the moment you set aside savings for them, but what about pocket money? You're putting aside £10 a month for school trips, but this may rise (trips in secondary school are often hundreds of pounds).

    And - a biggy - you don't detail how much of your income is maintenance and tax credits, but what are your plans for when this comes to an end?
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 13th Sep 17, 10:08 PM
    • 4,469 Posts
    • 5,768 Thanks
    Mimi Arc en ciel
    Thanks for the replies, I will try and answer everything but apologies if i miss anything.

    @EssexHebridean
    Council tax - Single person paid over 10 months
    Elec - I've just swapped from British gas, I've signed up to the MSE Energy club with notifications.
    Gas - Yes it will burn wood, I have a deal with the local recycling center to get wood cheap
    Telephone - the line rental is paid in full annually (I put £13 away for this in a high interest account) the bill is therefore around £11 a month. Unfortunately i live in a "out in the stick" place so there's not many in way of choice. That's the cheapest on I have found (checked when contract was up for renewal)
    Petrol - I spend around £30 a week in petrol, this is going to work (40 mile round trip), heading to stable (15 mile round trip) and ferrying the kids around (swimming, brownies) - I try and follow the "not a full tank, not a full boot" but its a 17 year old car so that doesn't help I'm in the process of saving for another
    Car insurance - yep, money in TSB earning 5% then paid when due. check renewals through comparison and head through quidco for cash back
    Road tax - again, in tsb earning 5%, paid annually when due
    MOT - £30 put away each month, "spare" money is used on repairs / put in savings account if not used (Thankfully cars passed every MOT since I've had it but my dads quite handy and does the repairs for me and only charges me for parts)
    Credit card repayments - Each month i transfer £130 into Nationwide (5%) the direct debit for the minimum comes from there, the spare stays in nationwide earning interest until needed. I have an amazing excel spreadsheet that keeps track of "what" the money is set aside for so i don't get confused as i have multiple accounts to earn the interest. If the minimum payment decreases, my £130 doesnt, the spare money is still in the high interest account "locked" away until needed if that makes sense

    @Copperclock
    Horse - yep he definitely is the biggest luxury. I look at it this way, I don't drink/smoke, I don't go out often in the evening (babysitter costs a fortune!) neither do i have sky. I suffer from anxiety but horse riding seem to help plus we're out and about in a field rather than sitting in front of the TV. The stables is rather large so there's always someone around to socialise with. I rode as a kid, I've been "back at it" since i was debt free but lessons are £20 an hour. then when the kids both wanted to ride it was £60 a week for 3 hours. It was a hard decision to buy but when ii look at what we "get" it doesn't seem too bad

    My kids are 10 and 5, still little ones. I'm saving at the moment as much as possible / getting the house sorted before maint etc stops but i work PT at the moment, when the children are older I can go FT to make up the money plus the stables have a "working livery" (so basically, they use my horse for lessons and my costs are reduced) plus i can always work there on a weekend in lieu of stabling.

    Pocket money - They don't get any. Santa gets them a magazine subscription and the house is always stocked with sweets (Halloween is awesome for that haha) They do know I put money aside for them and my eldest checks her account, checks her interest etc. She asks for gift cards for her birthday and uses them to buy clothes etc. When we go shopping (even grocery) we speak about cost vs weights etc ad whether its cheaper elsewhere etc. When shes a bit older and wants to go into town with her friends we will discuss whether i stop putting the money away in her bank and if she has pocket money instead.

    School Trips - at the moment £10 is enough, although I'm aware this will increase. I just don't know what to yet

    For those who have focused on my situation - Yes, I know I am fortunate. That said there are a few things you should know. My house was inherited, i didn't buy it, that's why i have the savings I have. I've been there counting pennies to buy a loaf of bread to have toast for dinner whilst hiding from the bailiffs who are banging on the door, hiding my car a few streets away so they don't take it. I KNOW how tired you are because you aren't sleeping because you are worried. Yes, I have my horse, he is the only luxury I have but if it came to the point that i am struggling to afford him, He'd go, without any hesitation. I haven't had "new" clothes for years, If mine break, I repair them. I check charity shops, i buy from ebay. I don't buy new from shops because i often feel guilty and return the purchase a few day later. The only "new" clothing my kids have are school clothing, everything else is hand me downs from family and friends. We meal plan, we use jack monroe recipes, we all eat pack lunches every day, I shop in aldi's, i use vouchers and coupons, I dry my clothes outside/in front of my fire rather than use the tumble dryer, I dont have heating on when the kids aren't in / are asleep. Quite often i will light the candles in my front room and turn the light off. I buy reduced food and freeze everything (christmas dinner last year cost £3.25 as i got everything xmas eve when it was reduced) we "kon mari" everything - and anything that's sellable, is sold. Clothes that aren't are taken to a weigh and pay. I'm not "flush" - I'm careful. I had to be when my ex walked out and (minus the horse!) my spending habits haven't changed. I'm still spending like i still have the £35k debt. The house has had repairs but these have been researched, costs have been haggled and I've tried to do as much as i can myself. I've learn to tile, paint, wallpaper, fix things, bodge things, actually bodge quite a lot of things Anything i need (for example my kettle broke earlier this year) i ask for it for my birthday / Christmas. Its hard being in debt, but when people have their "lightbulb" moment, it never really leaves you. You're still cautious, you still worry, which is what my OP was about.
    Very proud mummy of 2!
    • EssexHebridean
    • By EssexHebridean 14th Sep 17, 11:01 AM
    • 8,149 Posts
    • 43,037 Thanks
    EssexHebridean
    Mimi - bravo, well said. It's a shame that people couldn't simply read your OP, where you clearly stated the purpose of posting, and had to turn it into a "well you're fortunate so why are you here" type thing.

    It seems to me as though you have stuff well under control - keep doing what you're doing if I were you - and keep enjoying the wonderful experiences you & the littlies are getting with that horse!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 14th Sep 17, 12:33 PM
    • 4,469 Posts
    • 5,768 Thanks
    Mimi Arc en ciel
    It's a shame that people couldn't simply read your OP, where you clearly stated the purpose of posting, and had to turn it into a "well you're fortunate so why are you here" type thing.
    Originally posted by EssexHebridean
    It was always going to happen I suppose, good job I have broad shoulders


    Thank you for taking the time to reply constructively - I'm looking into life assurance (well, trying to, there's so much to look at ) I'll bob along to the "other" MSE board later and ask for advice there, hopefully that will be sorted in the next few weeks. Funeral plans etc are already in place with my solicitor, as is my will. I've also named some people that I want to manage the girls finances but I'm not 100% sure that will happen tbh as their dad can over rule this I believe but that's another thread for another time
    Very proud mummy of 2!
    • Potbellypig
    • By Potbellypig 14th Sep 17, 1:13 PM
    • 157 Posts
    • 68 Thanks
    Potbellypig
    Narcissism can be a funny thing.
    • Dataless
    • By Dataless 14th Sep 17, 2:33 PM
    • 7 Posts
    • 11 Thanks
    Dataless
    I came across this post looking for another, very interesting, where do you get these SOA things, I just use spreadsheets!

    Mimi there is nothing wrong with using zero percent cards back to back to beef up your credit score if you have the discipline to maintain the balance, I know psople that have £10k on such facilities to buy into company share option scheme which they told me works out at 20% typical growth per annum.

    What sticks out for me is that you as asset rich and cash poor, I wonder if you had considered using your house to buy into another property for buy to let, maybe outside the UK?

    The horse is obviously the elephant in the room, it will come with an emotional attachment and vet bills, these may prevent you thinking rationally. I do not know much about horses, can it be sold?

    The horse cost would fund a car and more besides.

    Other than that very impressive but you know that!
    • EssexHebridean
    • By EssexHebridean 14th Sep 17, 3:13 PM
    • 8,149 Posts
    • 43,037 Thanks
    EssexHebridean
    Narcissism can be a funny thing.
    Originally posted by Potbellypig
    Yes....and so can jealousy.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • EssexHebridean
    • By EssexHebridean 14th Sep 17, 3:18 PM
    • 8,149 Posts
    • 43,037 Thanks
    EssexHebridean
    I came across this post looking for another, very interesting, where do you get these SOA things, I just use spreadsheets! bThe link to the SOA we recommend can be found in the "sticky" post at the top of this board. It works well as it's a prompt to get people to think about expenses they might otherwise not remember.


    Mimi there is nothing wrong with using zero percent cards back to back to beef up your credit score if you have the discipline to maintain the balance, I know psople that have £10k on such facilities to buy into company share option scheme which they told me works out at 20% typical growth per annum.

    What sticks out for me is that you as asset rich and cash poor, I wonder if you had considered using your house to buy into another property for buy to let, maybe outside the UK?

    The horse is obviously the elephant in the room, it will come with an emotional attachment and vet bills, these may prevent you thinking rationally. I do not know much about horses, can it be sold? The OP did mention that she has savings in place to pay off the 0%
    cards as and when - thus she's following the path of "leave the money in savings earning whatever interest it can" (and it seems she has a fair bit of it at 5% which is a stonking rate,
    currently) and paying the minimum off the cards each month. I'm not sure that there is a need right now for her to consider selling the horse - although they are indeed very sellable should it be needed - especially the sort of "bombproof" family friendly beast that can be trusted with one's small people!


    The horse cost would fund a car and more besides.

    Other than that very impressive but you know that!
    Originally posted by Dataless
    Animals of any sort come with emotional attachments, you're right - but the OP has said that she would sell it if needed. As things stand though, the need doesn't seem to be there. Long may this continue.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Mimi Arc en ciel
    • By Mimi Arc en ciel 14th Sep 17, 8:52 PM
    • 4,469 Posts
    • 5,768 Thanks
    Mimi Arc en ciel
    The horse, he's definitely an emotional attachment however if it came to the point of 'horse vs kids needs' - he would lose. Vet bills, touch wood I haven't had any (other than the initial to check he was OK to buy) but he's insured so I have that to fall back on.

    I wouldn't become a landlord. I looked into it around a year ago and I just don't have the funding. It would be insane to venture down that path knowing I couldn't afford property repairs / the mortgage if the property was vacant.

    Potbellypig - not really sure where I've come across as a narcissist. It wasn't ever meant to be a bragging/look at me post but more of a check that I am still on the correct path and to see whether there was something i was missing (which as you can see, its been pointed out I should have life assurance). If you prefer, I'm sure you can search my threads (maybe search for Lowell or BC&W) and you can see what sent I went through, see the advice people Gave me and read as bit by bit I got back on track. Equally, the advice ghat was down to me I've passed on to others who are in the same situation I was.

    So, Yes, I'm fortunate that a little old lady died and left me her house, but hey, I'll let you in on a secret. I'd have rather of had the little old lady.
    Last edited by Mimi Arc en ciel; 14-09-2017 at 9:09 PM.
    Very proud mummy of 2!
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