2009 New Years Resolution-MFW Diary

Tesco_points_addict

gallygirl wrote: »

So, with all these mystery shops have you set up a spreadhseet yet to keep track? Lots of lovely columns :j, including charging 6p a sheet for printing assignments out to offset against tax (you are going to declare it, aren't you ).

I'm a good girl me! Yes all will be declared, some assigments I've needed to print 20 sheets am I doing something wrong (think I'm printing EVERYTHING) No spread sheet for it ...yet..but I have got a piece of paper for everyjob, in a polypocket with the job details/printouts that has mileage, reimbersment, payments details etc on it! Not quite the same though eh. Do you know when I register with the Inland Revenue will they leave my full time job as it is ie. all taxed NI at source, so I will only have to do books for the mystery shopping? As I already pay NI in my other job will I need to make further payments from Mystery Shopping?

TPAx

PS how was your holiday?

Tesco_points_addict

SmlSave wrote: »

Hi TPA, just popping in to say hi. Hi!

I hope your brain has stopped aching now

Aw no, its worse now! How are you stranger?

TPAx

taka

Tesco_points_addict wrote: »

I'm a good girl me! Yes all will be declared, some assigments I've needed to print 20 sheets am I doing something wrong (think I'm printing EVERYTHING) No spread sheet for it ...yet..but I have got a piece of paper for everyjob, in a polypocket with the job details/printouts that has mileage, reimbersment, payments details etc on it! Not quite the same though eh. Do you know when I register with the Inland Revenue will they leave my full time job as it is ie. all taxed NI at source, so I will only have to do books for the mystery shopping? As I already pay NI in my other job will I need to make further payments from Mystery Shopping?

TPAx

PS how was your holiday?

You need to register with HMRC within 3 months of starting self employment (eg Mystery shopping). Your full time job should be unchanged tax and NI wise but you would also need to fill in a tax return. NI class 2 can be paid weekly (£2 something?) or you can get an exemption if you earn under a certain amount from self employment (~£5kish). Try looking here for loads of info. They also run 1/2 day free courses covering the basics of what to do and when and are really helpful with any questions you have. (I was thinking of starting a very, very part time business so did one of the courses which was very useful.)

Keeping good records (however works for you lol!) will make the tax return much less painful! Remember to set aside money for tax too! :mad: :rolleyes:

Tesco_points_addict

taka......mwahhsss:A

Well after the stress of the big reveal on the mystery shop I had HAD to go to Greggs and buy a Lemon muffin, can I claim that against tax??:rotfl:Bless the poor lady who I 'interviewed' I wanted to buy her one too she was so stressed. Anyway £12 for mystery shop promptly spent on Greggs lunch and 5 weeks worth of lottery tickets:eek: Easy come easy go:rolleyes:

TPAx

gallygirl

taka wrote: »

You need to register with HMRC within 3 months of starting self employment (eg Mystery shopping). Your full time job should be unchanged tax and NI wise but you would also need to fill in a tax return. NI class 2 can be paid weekly (£2 something?) or you can get an exemption if you earn under a certain amount from self employment (~£5kish). Try looking here for loads of info. They also run 1/2 day free courses covering the basics of what to do and when and are really helpful with any questions you have. (I was thinking of starting a very, very part time business so did one of the courses which was very useful.)

Keeping good records (however works for you lol!) will make the tax return much less painful! Remember to set aside money for tax too! :mad: :rolleyes:

What she said :rotfl:.

Hol brill but back now , rats to everyone.

SmlSave

Aw no, its worse now! How are you stranger?

I bet its worse after the revealing mystery shop! You definitely deserved that muffin

I'm fine thanks, trying to get back on track...

Tesco_points_addict

SmlSave wrote: »

I bet its worse after the revealing mystery shop! You definitely deserved that muffin

I'm fine thanks, trying to get back on track...

The problem being I already had a big enough 'muffin top' before eating:rotfl: it

Tesco_points_addict

TPA - Reporting for duty!:rolleyes:

Spent some money last night, met up with old friends and had a meal (its a shame but I couldn't find a mystery shopper assigment that was suitable:rotfl:) It was lovely to catch up though, worth the spends.

I have done 5 mystery shops so far this week and have another on booked for Sunday lunch tomorrow.:j

I have also managed to book quite a few for the next couple of weeks (have forgotten how many-note to self-must check dates!):j

Today is going to be a lazy day (I hope) feeling tired could do with a nap.

Hope you are all feeling more energetic than me!

TPAX

Tesco_points_addict

Hubby and I have spent the last few ours sorting out finances, we 'may' be able to become mortgage free by the time i'm 40. (Originally thought we might make it by his 40th.) Hubbys 40th is further away than mine, so this is very good news. So now we are on countdown, I am 40 in...drum roll please...38 months:eek: (thats scary, no wonder the policemen & teachers are looking younger, I am getting old):rolleyes:

So from May I will be doing a monthly countdown rather than the 'amount saved'. I have already done this months sums and savings will be £4,900:D thanks in part to hubbys bonus (as already mentioned numerous times - but i'm so proud of him x) So the figures below have already taken this amount into consideration.


The figure we need to achieve is £45, 235.06. This is worked out from exsisting outstanding mortgage minus the 'offset' amount. We currently pay (if my maths are correct) £381 per month off the capital (plus any interest etc our savings earn) the rest of our monthly mortgage payment is interest.

So, bear with me...£45,235.06 divided (wheres the symbol) 38 (months remaining until D day) = £1,190.40 minus the capital repayments we make of £381, I think we need to save an average of £809.40 per month. Now this seems very achievable, bearing in mind I have not included any of the interest we will earn on savings, in fact I'm slightly worried as I'm begining to wonder if I've made a mistake somewhere...Stuart, taka, gallygirl and other smarty pants could you just have a look at my school girl maths please?:o

The figure of £809.40 should also give us breathing space for any other unexpected outgoings, as currently we are saving more than that per month (although the figures we have achieved over the past 4 months are no where near the norm (unfortuantly) If hubby gets a bonus next year we will use that for a holiday to the states.:beer:

I'm so excited I love a challenge, seeing it all down in black and white has even got hubby motivated, for now anyway! (hubby has a spreadsheet with the savings on - are you impressed 'The Spreadsheet Three'?):D

Off to update sig for this month, will have to think how best to express my intentions as from next month (in my sig) any ideas for my 36 month countdown expression?

If you are still reading you are doing well!!!:T

TPAx

taka

:j :T :j

Ermm... I don't think this'd be entirely correct as surely the capital payment bit would increase (and the amt of interest paid each month decrease) the longer you have the mortgage?? Maybe try playing with some of the mortgage calculators linked to in the sticky at the top of MFW board? Or possibly try this spreadsheet!

Good luck! :rotfl: