Live on £4000 for a year - part 4 (Oct - Dec 2008)

cw18

Great to see you back Bails

the_cat - any tax demand now will be for the 2007-08 (or earlier) tax year. Did he have any income at all that didn't go through PAYE? Has he had to complete a Tax Return? Did he change employers? Has he received any State Benefits in recent years?

I'm asking the last two as I was undertaxed in 2007-08, partly due to being TUPE'd and partly due to being on long-term sick The old company gave us a payment after they'd passed payroll info to the new company, so it wasn't included on my P60. When IR did calculations -- due to me having had IB at middle rate for 4 months, which is taxable, but for which the benefits office didn't get the P45 to me/IR in time for IR/work to adjust my tax code before my March salary -- they didn't "see" it the extra payment. Funny thing is I knew immediately they'd dropped this clanger, but it took me phoning them several times to convince them they weren't recovering enough tax through payroll this year. I finally got a letter saying they're going to recover the rest in 2009-10, but due to having been laid off my tax for 2008-09 is going to be in a total muddle (especially as Widowed Parents Allowance and the Occupational Pension I get as a widow are both taxable too) :eek: I need to make sure I have everything I need for completing a Tax Return to hand ASAP -- so that come 6th April I'm just waiting on a couple of statements to add interest figures onto it, as I want it sorted yesterday

cw18

I've been shopping today -- went out to bank a (big) cheque, and to look for DD's Christmas present.

In the 3.5 years she's been in her house she's got through 2 (or is it 3?) sets of cheap saucepans, and after she managed to 'glue' scrambled egg to the current ones a few nights back she said I could get her some new ones for her b'day/Christmas. (Her b'day was on 2nd, but it kind of got overlooked this year :eek: )

Had mentioned to elder DS she was after some pans, and he muttered something about him getting some for her -- but he hadn't done so yet. So I suggested we clubbed together and got her some better quality ones, which he was happy about but wouldn't give me a 'budget' I could spend on his behalf -- just told me not to come home telling him he owed me £300 (keep this figure in mind).

Went to what is normally a 'rather pricey' shop, only to find signs outside saying 'up to 25% off everything today only' -- and on looking round the store it appeared it was 25% off everything except perfume and make-up (10%).

Went to the kitchen section and some of the pans still had me gulping at the prices. But I spotted some 'rather nice' ones which came in just under the budget I'd set. 20" saucepan (£52), 18" saucepan (£48), 16" saucepan (£40), 14" saucepan (£38) and a set with frying pan and milkpan with pouring lips and no lid (£60). So total price tickets = £238.

But they were already in a 50% off sale, meaning they came in at £119. And they then knocked a further 25% off that £119, making the whole set just £89.24 -- against my planned budget of £90, which was £60 from me (£30 for b'day, £30 for Christmas) and plans to wrestle £30 from DS to cover her b'day and Christmas.

Got home, and told DS they were £238 -- so I'd kept under the £300 he'd told me not to spend :rotfl:

He declared I'd been ripped off....... and then looked at me with dawning on his face and asked how much I'd ripped the store off over them So I told him what they'd been knocked down to, and even he looked stunned !!

He then asked how much of that I wanted from him, as he's not spent more than £70 on anyone else!! He's ended up offering to go halves with me -- which means I still have £15 from my own budget to buy some 'bits and bobs' for her rather than the house

the_cat

CW
Thanks for the info. The bill is for 2007/2008 and he has been with same employer for years and never had benefits. The only non PAYE thing that he has is medical insurance and the tax on the 'benefit' of the interest free loan for the shares, but these have been accounted for on P60 which they have had for months. He got sent a tax return and these different figures have been come to from it (presumably). Its all got in a right mess though. He has already had 3 notices of tax code change in about the last 6 weeks so god only knows which figures are right:mad:

In a way though I am pleased it has come to a head as OH is now spitting blood and has taken head out of sand regarding dodgy share stuff. I have been worried sick for months now that we are going to end up owing thousands due to stock market crash (and bosses are in my view being deliberately vague on important details) and he has just been 'waiting to see when boss will tell them what is going on' as anyone raising head above parapit to ask is being viewed as a trouble maker. At least now he is going in on Monday to try and get some answers. Maybe by next week I will be able to sleep a bit more easily..................I hope

Thanks again. Stupidly I feel a bit tearful having put this all down on paper and admitted my fears.

grandma247

cw18 what a great bargain!
Bails It's good that you are out of hospital but you must rest to give your body the energy to heal. I think a few of us might have to come and sit on you so you can't move. (sorry thats the granny in me)
DD1 came to collect GD and brought a box of goodies with her. Tin of chocs, bubbly of some sort, 2 packs of fav. biscuits and some Avon stuff she can't use herself. Gd been as good as gold even though poorly, much easier than the boys.

bails

Thanks guys, good to be back.:D
Great bargain CW, well done! I hope these last much longer than the other ones! My parents had a new kitchen fitted 2 years ago now, for the sum of around 9k I think :eek: Anyway, they've had nothing but trouble with it, the doors keep warping and they've had 3 sets so far - the company keep saying that it must be their house but it's only 14 years old, never happened with old kitchen etc. Mum and Dad keep paying for them to refit them too, despite all my 'consumer rights' protests:mad: To top it all off, the range cooker broke a couple of weeks ago (and still isn't fixed), just a few days outside of warranty...Dad thinks things are now made to self-destruct as soon as the time limit is up!!
Do hope you get some answers soon the cat, it's awful when anything worries you enough to disrupt your sleep. Hugs x
I will be sensible BB and listen to my body...that's listen to my body and not my head :rotfl:(oh and I'd better be good or I see Grandma will come and sit on me ). And you are simply great value for money I will be down to Brighton for Christmas - can you imagine the ear bashing I'd get if we didn't make it?! :eek::rotfl:Be great to catch up then.

grandma247

the_cat try not to get too down about it all. At least he has his head out of the sand mine never did get his out and I had to take a letter signed by him to the tax office before they would even talk to me about it. I got it sorted out but never trusted him to sort things out again I always check now as he just hates dealing with anything to do with money.
It will get sorted, the trick is not to panic, take one day at a time and they can't take blood.

cw18

bails wrote: »

Great bargain CW, well done! I hope these last much longer than the other ones!

They should do!! They have a 10 year warranty on the 'non stick', and a 25 year warranty on the actual shell of the pan

Brighton_belle

the_cat wrote: »

Thanks again. Stupidly I feel a bit tearful having put this all down on paper and admitted my fears.

The_cat, well done on naming your fears: speaking them out loud (or in this case, writing them for us to see) is a powerful thing & takes courage. That's why therapy can be very powerful - when we actually hear ourselves own things out loud rather than internalising it makes them 'real' and generally brings a shift in perpective or a shift that enables us to move forward.
Sometimes things need to get really bad before we can be goaded to finally deal with them, and it sounds like this is happening for your OH. This has been worrying you for ages, but now you will finally beable to begin to get to the bottom of it: the end is in sight. With our pooled knowledge here, you are going to save a lot of money next year and it will be ok, horrible as a large unexpected bill is.

CW: bargain! And what a lovely son to go halves.
Yes bails - I knew hospital would not be accepted as an excuse - good try though:rotfl:
Marru - thanks for the latest challenge link. A great idea. Think I might do that, but maybe on my own, don't think I could cope with another forum to commmit to! I love collecting £2 coins and now have £34:T in 3 months.

Chair I sold on ebay at the weekend has finally been collected, so that's an extra £5.50 cash to see us through to the end of the month.

bails

Ha ha, as if, BB! We did joke it was quite an extreme way to try and avoid Christmas Great point about naming your fears. Glad you've got a bit of extra cash too :T
I had to get a library book that I'd reserved that was about to be sent back so I may have accidentally popped into W00lies I'm having a very restful night I promise! I got a couple of bits of stationery for my future business :j and some teaspoons as we never have enough! Marru, I noticed party bags that worked out about 10p, is that cheap? Might be worth popping to stock up on some bits to keep up with the Jones' again next year
Just bought a couple of things online too so getting there with Christmas, slowly slowly. I forgot to say, we fell in love with a rather extravagant item at the Christmas market and decided to ask our families to club together to get it for us for Christmas. It's a map which may sound rather odd but it's so we can sit and imagine all the trips we'd like to make. It's magnetic so we can pin things on it and s wipe on/wipe off too :j Can you tell I'm excited? Here's where I confess it cost £145 :eek::D
Oh, and another exciting thing - I've been looking for a red hoody for over a year and haven't found one I like. There was one in duty free on our way to Morocco so OH said he'd get it for me today. He text to say it's got a third off so I got it for half the shop price :T

cw18

just been for a peek at the virtual sealed pot challenge......

a great idea, but don't think it will work alongside my 2009 plans


I want to try and get all my benefits/allowances/pension payments paid into one current account. From there I will move what's needed to cover direct debits into another account (lower interest than the first account), pull cash for my grocery and petrol budgets, and move the rest into the linked savings account (which is instant access, but pays a higher rate of interest than the first account).

As and when one of the bills I don't pay by direct debit is due for paying (road tax, mot, servicing, house insurance, car insurance), I shall simply transfer the money back from the savings account into the current account (or move less into the savings account that month, leaving the appropriate amount behind), and either pay by debit card or pull cash and pay that way as best fits the transaction.

This means that the only 'unused' account I have is the current account that's just been changed back to my name only (I put DH's name on it in 2000 when he took voluntary redundancy), but this doesn't pay interest at all so moving the 'loose change' into that instead of the savings account would lose me money -- and isn't actually 'unused' at the moment, as it's the one I'm banking everything to do with his estate into so that I can prove what's been done with all the money (especially as I don't yet have probate!)


All my accounts are currently with the same 'family' of banks, which makes all transfers immediate -- but this is something I want to address in light of the number of banks that are failing just now!! It's all very well me saying that I won't have more than the 'protected' £50k when they're all added together -- but if they freeze accounts it means I have nothing to live on :eek: So my intention is to open an instant access type of savings account with the only bank in easy walking distance of home, meaning I can pull money out of my main accounts via the 'hole in the wall' and go in and deposit it over the counter -- making it effectively an 'immediate' transfer for that as well


But the first thing I need to do is put this years allowance into my cash ISA before tax year end, and then immediately after the tax year change over I want to put next years in as well. However, I really need to do some comparisons before just throwing it into the one with my main bank (haven't put anything in this tax year, so can open elsewhere now). The main advantage with the one I have now is that it's an instant transfer out of the ISA into my current account if I need the money for something, but as I should have a reasonable amount of capital behind me (for the first time ever in my life) I guess this isn't enough of a reason anymore



I plan to do the 'real' sealed pot challenge though. And shall sign up for that one later tonight -- I've just realised the time, and I'm baby sitting tonight (DD has a taxi booked for 7:30pm, so I need to get a move on!)