Pay off mortgage and start having fun!

newgirly

The builder starts tomorrow , well allegedly anyway! Was supposed to be today but surprise surprise dads builder is unreliable on the very first day fingers crossed he shows up as we are in a real mess.

The cat has been embarrassing herself again, not content with howling day and night for attention, I came upstairs to find her caught by her claws hanging upside like a bat from a chiffon top of mine on my clothes rail tonight, she is fine but shouting about it to everyone who will listen, she’s 17 now so I would have thought too old for all that :rotfl::rotfl:

No mortgage related news or ops to report, I’ll check in on the accounts now and hopefully make a tiny op

themadvix

:rotfl: :rotfl: at the cat!!

How annoying about the builder though!

newgirly

Well the builder did turn up today :T he’s done a bit, but it’s going to take a while I recon

Dd is setttled in her work placement , but text today to say it looks like she won’t get any expenses it’s £13.20 a day fares or £253 pm for a pass, so I might go for that but there’s only £700 allocated for it and she’s there 3 months plus will need a bit for the odd drink or sandwich. She’s not spent the first £100 I gave her a couple of weeks ago as she’s used her Xmas money bless her!

So frugal January is getting trickier by the day :cool: currently still on track to make planned payments and have made a few extra tiny ops as well, food/petrol budget of £290 for January (until feb 9th actually :eek:) has £89.11 left or £8.10 a day.

If I stick to the budget there will be a £210 surplus, originally for ops but we also need lining paper and paint as we decided to go the whole hog with the downstairs :rotfl: Also need to think about how to juggle to pay dds extra costs too without her dipping into her house fund, she has offered but no way is that happening :money:

I’m meeting best friend tomorrow, her turn for lunch I don’t care how hard the money situation is going to be this month, I SHALL be treating myself to a cheap new lipstick in Primarni , still a little personal spends left , but not for long!

themadvix

That's really unfair that DD's expenses won't be paid. Can she trying negotiating for even half of them? I know this is a real problem in London though - it's disgraceful that unpaid internships for graduates even exist. Does she feel she'll need to do the whole 3 months (I originally wrote 'does she have to', but as she's not being paid there's really no commitment required as they're not making any commitment to her!)? Will it definitely lead to a paid position with that company at the end? How long is it likely that she'll have to keep taking unpaid work? I know you want to do this for her, but I don't think it's fair on you to stump up the whole cost - she's an adult now and you've supported her very well through uni already. Could she not get a part-time pub job (an evening a week or something) to help with the costs? Or could it be a long-term loan for the three-months travel (I think she should meet extra (eating/drinking) expenses, no matter what - there's free food at home she can take to work with her.)

Frugalwoods has a saying in her analyses of other people's finances (monthly series) - 'put your oxygen mask on first'. I know you've said that the rent/income from the warehouse will act as part of your retirement income, but I wouldn't have thought this can be entirely relied upon. And you can't borrow for your retirement - so make sure your future (i.e. mortgage, pension) is safe first before going above and beyond to help DD. I'm sure she'd rather she didn't potentially have to pay for your care later (not to mention I'm sure she'd rather you used your money for you). Also, by the time she's actually looking to buy a house, you may well be in a better position to help her if the mortgage is paid off by then.

I know I sound really harsh and I don't mean to - I think it's wonderful that you're so willing to help her. But bearing in mind you've got three of the darlings and you'll want to be even handed, this could be setting yourself up for *a lot* of expense in the future.

Just my two penn'worth. Feel free to ignore me!

newgirly

Hi vix, thanks for the post

I just typed out a long reply and then just before posting saw a text from dd that they ARE paying expenses , it just wasn’t in the contract :j

She’s been volunteering since being at school for theatres and events companies and unfortunately the older you get the harder it is get them even unpaid, that’s the main reason she went on the course. She has been taking snacks and not buying out and about , but working evenings is a no go as lots of the events and exhibitions are late or weekends so it’s long hours. No guarantee of a job at all, but the networking is something she wouldn’t get, yesterday she met “the most famous “immersive innovator” in the world - whatever that is :rotfl: they had a chat and he asked her to email him to see what he can do. She’s said to me she’s going to give it another year and if she’s still hitting a brick wall getting a paid job she will just go and get any job. She will of course work in the meantime though.

She’s planning on buying early next year with boyfriend, they have been saving for four years so far so that’s another reason I don’t want her to dip into her help to buy isa. I do feel it’s important to treat them all the same so we will (when mortgage gone) give the boys an equivalent amount for their savings, it doesn’t seem fair otherwise.

I guess I want to help and as she’s reluctant to accept it feels ok, if she was asking for anything I might feel differently.

As for retirement, we are lacking the pension department as we have either been up to our eyeballs in debt and/or about to lose jobs or overpaying and it has not been a priority. The factory rent if mortgage free is enough for us to live a comfortable life on if we don’t work , but certainly not a lavish one once mf and after getting some decent savings, I’ll look properly again.

Clittler

Hi

ive got a mortgage interest only £109000 ive just been left my mums house and it just been sold should i pay off my mortgage completley ? or have i better options thanks

greent

Clittler wrote: »

Hi

ive got a mortgage interest only £109000 ive just been left my mums house and it just been sold should i pay off my mortgage completley ? or have i better options thanks

Way too little info on that post - I'd suggest you start a new thread of your own with this question - and a heap more detail (any pension arrangements, your age, mtge int rate, any other family (partner/ children) etc you'll likely then get some helpful replies

greent

Good news re DD;s expenses, ng x

themadvix

That’s excellent about the expenses! Puts quite a different slant on things! (Will reply more thoroughly tomorrow - off to see the Egyptian king today!)

newgirly

Hi, thanks greent and vix, hope you enjoyed the exhibition Vix

It’s horrid here now, when the floor came up in the conservatory it was very wet and smelly :eek: we have a coating of special stuff down now. The builder is frustarating and gives me the creeps a bit too! He stated 9.15 and finished 2.20 pm Friday as he wouldn’t have time to get started on anything as it was getting late apparently :mad: this is exactly why I should have said no to dads offer of a free builder Dh has been sanding and spraying the radiator, but nothing else can be done until the builder comes back.

Kids have all scarpered for the weekend except ds1 who seems to have got back with his ex girlfriend as she keeps appearing this week.

I went out for hours Friday to avoid the builder, and bought the paint and also a round new mirror for the fireplace, not the £80 one in m@s I was after, but a similar one in the rang@ for £22.99 , plus two huge pale pink glass vases in asd@ for just £2 each in the sale :T

Lovely big op of £175 made today curtesy of hsb@ for opening an account with them, thanks very much