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

lingojingo

Morning fellow frugalers!

Getting ready to head down south tomorrow, discovered we have a glut of peppers and carrots. No time to do batch cooking, really busy today, so how can i freeze them quickly?

thanks in advance for your help

Lynda hope all goes well for your Nan
Bails hope you're feeling a bit better today, and that you get your money sorted

hugs to everyone else who needs them (((((((((((((((((((()))))))))))))))))))

bails

Morning everyone! Here I am back on form and in a very good mood actually! :j Thanks for all your support, I had a wee cry to get over the shock and then got on with working out how I was going to deal with it. (thanks again for the offer of help CW, it was mainly the 3 different mortgage amounts and HB being paid on random dates that was doing my nut in!) I'm pleased to say that, although painful, I/we can manage to absorb the losses, albeit with a very big hit to my savings (thank goodness my parents financially educated me when I was young - another thing to thank them for).

My new dilemma is this - I desperately want to change the mortgage to repayment rather than feeling that we're throwing our money into the bank's pocket, and I think this is still possible. OH thinks we should stick with the interest only for now as this would make the finances much easier to bear until we're in a better position ie me in parttime work and him earning more. The thing is, if our 'plan' happens, we'll start a family not long after our return to the UK so my thought is that it's going to be like this for a fair while to come (we want to manage the childcare between us hopefully and both work parttime, if I'm well enough). What do you think guys, I'd love to know your thoughts? (I can give you more info if you need it). I'd really appreciate an outsider view.

Thanks for the lovely post yesterday Nyk, you're right of course about partnerships - I would help him out if the situation was reversed (and did help him a little through uni). As a result, I was able to accept the offer of some money from him each month to help me stay afloat, so thankyou! I've only been able to accept it on a short term basis ie for the next 7 months (and am already planning how to pay it back ) but this is a big step for me, and for us as a couple. :T

Anyhoo, Marru is on her way shortly and I'm treating her to a coffee in town (well, it is Christmas! ) so we can mull over her options. Have a great day everyone, and thanks again for being here, means a lot xxx

Just seen, hope your nan's op goes well Lynda x

1274

Bails, how about a compromise between you and OH. Stick with an interest only mortgage, but find out using a mortgage calculator (there are some on the MFW board in a sticky), or a call to your lender how much the monthly repayments would be and put the difference in a non touchable savings account by standing order each month. Or, you could see if you can get any overpayments back on your current product (I can on mine) and then make them at will, up to any limit attached to your mortgage product. The second way is probably a bit better if your mortgage rate is higher than savings rates, and the first if not. HTH

Frugaldom

Good morning all

Bails, I am so pleased that you seem to be back on form, despite your difficulties. On the mortgage front, I'd tend to agree with OH about the interest only repayments, especially if you are considering renting out whilst in India (or wherever you may end up staying ) because the lending companies can be funny about it and the tax man gets interested in any rent that equates to more than the interest on the original loan.

Mrsmcawber, Happy Birthday! Hope you have a great day. :bdaycake:

My final order has arrived in time for Christmas :j It isn't even gifts, it's bricks for the fire and an ashpan, to make things neater, more efficient and more frugal, as it saves on fuel by reducing the available surface area in the grate. I'm doing not too badly with coal, as I only use it for topping up the kindling before starting with logs, so I reckon it's costing less than £1 per day for all this extra heat. I will work it out properly next year. I can't believe the difference. Last night, the HALL was 18C :eek: although it is weirdly mild outside, so that helps. Hope it isn't the calm before the storm!

Lynda, I hope all goes well with your nan and that she gets through her op and home tomorrow. Hopefully, you'll be feeling much better and will soon be germfree for visiting. Some things are best not shared, no matter how much someone means to you

Turkey is still defrosting, but I should be able to get it cooked tonight or tomorrow morning so it's all carved and the excess safely tucked away in portions in the freezer. Heaven only knows how many meals I'll get out of that, as a small chicken can do 3 of us 3 to 4 meals! :rotfl: I also got all the kidney beans rinsed, bagged and frozen last night, plus the brocolli, plus 4 lots of chilli and the extra chicken left over from dinner. Tonight will need to be chicken curry, as I'm running out of space in the freezer!

Off to package up some work stuff to get that away and then it's time to play with my latest new toys - fixing the fire. Back soon, don't post too much in my absense or I'll be here until Christmas catching up. :rotfl:

lilac_lady

I didn't keep to a budget last year but I kept every receipt (not logged anywhere) and have just looked through them. I thought I was being fairly careful with money in 2008 but I'm appalled at how much I've spent. I didn't add it all up (sticks head in sand) but there's LOTS of receipts.



It's made me more determined than ever that every penny will be a prisoner in 2009 (unless it's spent on a REAL bargain).

cw18

My interest only mortgages have always allowed overpayments -- though within set limits when on special deals. My current one will certainly allow me to claw back any of these at a later date (I had to do last year to keep our heads above water).

skint_chick

Bails - personally if it was me I would stick with interest only as then you have more interest to offset against the tax you'll have to pay on rental income - and it makes your tax returns easier as well. Then work out from overpayment calculators online what your payments would be if you were repayment and stash the difference into a high interest account - there's still some 6% regular savers around. Once you figure out what you're doing long term you will have a nice pot of savings to pay off mortgage. If you commit to repayment and rates increase you might be struggling and your lender may not let you change back to interest only at this point.

tryingtodobetter

tryingtodobetter wrote: »

Just done my scratchcards for the day, does anybody know if I can sign my DH up or is it one person per household?

Not much happening here today waiting for DS1 and DS2's bunk bed to turn up (ebay purchase using 10% off voucher) and having a good tidy up before Christmas day.

Hope everyone is well and enjoys their day.

TTDB.x.

Its OK I answered my own question, signed DH up to Ch*t Ch*t bingo through Quidco and won £9 :j :j

Hope everyones having a good day.

TTDB.x.

looby-loo_2

Busy! Busy! Just like everyone else but I thought I'd just tell you that Hollywood Bowl have a 1p bowling offer if you book on line to bowl between 9 - 9.30 am. No catches as long as you take a child.

There is another thread but if you are like me you might not often read them so I thought I'd tell you. I got us up and out early too

esthomizzy

Well my 6k target didn't exactly happen but what I actually spent was 9.4k for the year to now but no further major expenditure planned.

only a third over budget. Better luck next year