Ztan's Shared Equity Story- MFW from the word GO

ztan

Wow.. okay I need to re read that again in a few hours when I'm a little more awake!

I have read a lot of other people's diaries who are using clicks and curveys... and had I come across the idea a while ago I would have jumped straight in. Once I've got the internet at home again, and have settled into the new job I am going to dive in head first. Although if anyone has info, please PM me!

The offset thing sounds good... I will have a further look into it. It's so confusing all this responsible grown up stuff!

I'm just hoping we can get a good fix at the end of year 2. We were only offered 2 years to start on this deal, so I'm praying for a good 3 year fix after that. That's the other reason we need to OP as much as possible now- in case interest rates have risen drastically and house prices change.

I love that I can make jewellery for presents, and in effect it's neutral cash wise. I just have to stop giving in and buying more beads!

ztan

I'll ask my MFW heroes for advise on this- it seems 99% of other boards are full of bitter angry people who are determined to be "right"

Anyway, in short, what with starting this new job very shortly, I am going to need a car. This is the only option, no public transport etc. I was going to use my OH's car, and drop him and pick him up enroute each day. This is fine, until Fridays. OH is an engineer and finishes early on Fridays and cannot work O.T until I'd be ready to pick him up. He is then stuck- no public transport etc.

So, I need a car. Thing is, we have diddly squidge savings wise at the moment, as we've only been in the new abode for a month and have just made our second payment on the mortgage.

Now in all I need about £1200- £600 for car and £600 for insurance. My overdraft cannot stretch that far, and I have no wish to be back in it at all if I can help it!.. so I'm wondering if whether the best option would be to get a 0% credit card (will be able to make all payments no sweat- just don't have time to save the money to then get a car)

How is this for an idea? Is is stupid, or will it potentially be a workable solution for me? I'm confident I can pay the card off in 8 months max... and if it's interest free, then I'm not paying additional for the funds. Any ideas, tips, or thoughts on this guys?

SmlSave

it seems 99% of other boards are full of bitter angry people who are determined to be "right"

Oh, we know we're always right ztan It's hard to be bitter when you're as perfect as all us MFW lot!


If a 0% card is the only way of getting yourself a car and you can make all the payments then I don't see why you shouldn't.

However, how much would a taxi cost you to get home on Friday? How much would catching a taxi once a week compare to buying, insuring, taxing and filling up a car? It's only an idea but might be worth looking into as it's only Fridays

ztan

It's 30 miles to and from work... so I'd imagine the taxi costs would be extortion!

I would rather have my own little banger anyway, so that whilst OH is at work on Saturday mornings, I can get up and go to the supermarket etc. (He's the worst for picking up things we don't need!) My OH is selling his car soon anyway, so the relative cost of running 2 smaller cars would equate about the same as running his one- as it is a very petrol and oil thirsty beast.

It seems too easy to just have a credit card on 0% for a year...! I did my figures a while ago, based on paying £100 a month in insurance as I figured I'd have to go monthly... but I can buy the insurance in one go this way, and spend that £100 a month paying off the car and insurance.

Hmmm

ztan

SmlSave wrote: »

Oh, we know we're always right ztan It's hard to be bitter when you're as perfect as all us MFW lot! /QUOTE]

Oh and Sml... agreed. I've been on the marriage, families and relationships board and there's a thread on there close to my heart I've been posting on. Unfortunately, some people are decided to take it all the wrong way and are being just plain rude to me now!

Froggy-G

ztan wrote: »

I'll ask my MFW heroes for advise on this- it seems 99% of other boards are full of bitter angry people who are determined to be "right"

Anyway, in short, what with starting this new job very shortly, I am going to need a car. This is the only option, no public transport etc. I was going to use my OH's car, and drop him and pick him up enroute each day. This is fine, until Fridays. OH is an engineer and finishes early on Fridays and cannot work O.T until I'd be ready to pick him up. He is then stuck- no public transport etc.

So, I need a car. Thing is, we have diddly squidge savings wise at the moment, as we've only been in the new abode for a month and have just made our second payment on the mortgage.

Now in all I need about £1200- £600 for car and £600 for insurance. My overdraft cannot stretch that far, and I have no wish to be back in it at all if I can help it!.. so I'm wondering if whether the best option would be to get a 0% credit card (will be able to make all payments no sweat- just don't have time to save the money to then get a car)

How is this for an idea? Is is stupid, or will it potentially be a workable solution for me? I'm confident I can pay the card off in 8 months max... and if it's interest free, then I'm not paying additional for the funds. Any ideas, tips, or thoughts on this guys?

Ztan :j
How long would your OH have to wait for you on a Friday??
Could he not go to the pub and have a couple of pints (£2.50 x 2 x52 weeks/year= £260!! still less than a new car + costs)...

Or could he go to one of his hobbies, local gym, go running, help with a charity...

As to the food shopping on a Saturday, could you do online grocery shopping?? I have saved loads since I started doing it that way!

Cheers
Froggy

LilacPixie

it's obvious I'm always right My husband will testify to that.

Anyway practical bits. new house, possibly not on voters roll, just taken on a large debt recently not sure how likely a 0% card is TBH. Short term i would borrow his car, get him to ask around for a lift on a friday to either home or into town for a bus to home or even a supermarket to do the shop and you can then collect him;) Then use the time to get a bit of a saving plan together to buy a car and pay insurance too Online shopping is great. Knock on the door and it's tesco man

ztan

Well, he finishes about 1... and I wouldn't finish til 4, and in Friday traffic, it's going to be about a 45 minute wait from then for me to pick him up... He would be rather drunk by the time I got to him (that and he doesn't get on socially with his work mates so he would be a sad loner in a local pub in a very strange town!)

I may suggest the running, he could run home... although it is 25 miles, so he may not be up for that!!! Unfortunately we are both long distance commuters, and we're both going to be in jobs where we need our own transport.

We haven't really thought about doing online, mostly because I actually love going food shopping. I am a real thrifty spender as well, I once fed myself (when I was single mind) for 2 weeks... for £13! If I could ditch darling OH then I could save us some bucks I'm sure- plus I just get plain bored on Saturday mornings whilst he's working! We currently spend between £150-£200 a month on food shopping between 2 of us... but I'd like to reduce that soon!

LP... We're on the voters roll already... the thing was through the post before we even moved in officially! Good point though re the whole just got a mortgage thing.

We've already considered his options in terms of maybe getting a lift to or from or part of the way... but it's not an option. It's a real b)gg3r. I will be working just outside of a large city, he works in a small town half way between that city, and where we live. Everything is commuter-ific where we live, unless you can get the train, you're not in good stead without a car.

LilacPixie

hmm its a puzzle all right. you realise your food budget matches mine for 4 of us plus nappies right

could he bike it back or too the station? freecycle for a cheapo bike?

ztan

I know we could definitely spend less on food.. although I have to be honest it's one area I'm not pushing to cut back on. I am trying to shop better for cheaper alternatives, but now I am doomed to a lifetime saving money and such, I'd rather have a nice stock in the cupboard so I can enjoy life guilty little pleasures. I'm also enjoying inviting people around for dinner.

In all honesty, we eat a lot out of the freezer, and that tends to empty itself out each month, so our largest shop each month involves stocking up on the basics again. Inbetween times, it's just smaller shops restocking the fridge with fresh foods and packed lunch foods.

But yeah, it is a lot!