A New House For Her , A Rugby Shirt For Me

andy1886

Decadent_Debtor wrote: »

Well done Andy, just had a read of the diary and sounds like you've done really well! I know EXACTLY how you feel about wanting a holiday! I sometimes get too involved in the debt repayments and have found it really helps to work towards the occasional treat every now and then. There was a stage when all I wanted to do was get the debt cleared ASAP, but I soon realised that maintaining a sustainable plan is much better for my life and my sanity!

Anyway, all the best, keep it up and I'll be sure to pop in for an update from time to time.

Thanks for reading and commenting . My budget is worked so every penny goes towards my debt and with my mortgage decreasing in 3 months I could reach my debt repayment in 2 and a half years but I am really fed up having no money available for any emergencies or treats . There seems nothing to gain by sacrificing the next 2 years when I could build up a savings account whilst the debt repayment looks after itself for the next 4 . I have read on the forum it is quite common to lose focus after the initial LBM whilst the DFD remains in the distance and I feel this is what is happening to me now . Best wishes .

andy1886

Another month draws to an end and the dark nights are drawing in . I've turned 42 and plan to repay for 4 years and spend for the 4 years after that to get the house turned around .50 plus is my time , years not wasteband !!
2 new tyres and tracking fixed on my car £90 , mot £40 , insurance £260 and tax £135 . Total £525 , budgeted £500 so not too bad and manageable .
Kids still attending college so hopefully child benefit will be reinstated shortly . 2 payments left on mortgage at fixed rate then time to open up a savings account and put away funds for new doors .

andy1886

Right the month has finally arrived when our fixed rate mortgage finishes :j I've signed up for a 2 year tracker with the difference starting in December of £100 a month and then next April it dropping by a further £150 . I really want to use this money to build up a savings pot for emergencies and when it is high enough to clear my debts and end my dmp , no timescale on this though .
The kids are still attending college and I've been and met the tutors and know where we are going on that front and we have reapplied for child benefit which takes 3 months to come through so hopefully this month or very early December , it is needed to pay for christmas:eek:
At work I have had to take 2 days off on the sick after picking up a heavy dose of man flu last week . Due to the system we have to counter sickness it means I lose a weeks pay for this , really struggling to get through this month financially but hopefully brighter days are around the corner and another target is reached . On the good news the man flu meant I lost a stone in weight so kick starting my diet in time for christmas :T

andy1886

I am off work this week . I spent Monday looking at figures for the future . We looked at if we could move house lets find a house to move to ! Failed , we both agree that there are no houses in our projected price band in the area we want to live that would make it sensible to move . I would be 50ish mortgaged to the limit , needing to work to keep the house and no life outside of this. We both agree that we could cope with where we are now forever , although I have been given a list of improvements needed , 2 doors , windows , patio doors , conservatory , fireplace , kitchen , utility room / area , canopy , bedroom furniture , wetroom , dressing room , turn spare room into a guest room and decorate all rooms . I asked for a greenhouse but was told no ! Compromise is what it is about . If she has to stay here we turn it into the house we want .
This means I have opened a savings account for the first time in my life . I am putting £100 a month in this until next April then £250 a month from then on . The dmp will run as is scheduled until my debt free date of April 2016 . Most of my defaults expire then and I am in no rush to alter this , it will be nice to have some funds for any emergencies . When I do my review I can massage the figures , I currently have zero in the monthly grocery total etc . As and when the pot builds I may pay the debt off just to take the pressure off and then add my monthly payment to the savings pot . It all depends on when the jobs need to be done .
Child benefit came through last week all back dated and so this week it is christmas shopping , although I don't think we spend £100 in total on gifts , home made cakes are a nicer gift for people . Finally we can plan what food we are having for christmas and plan when to buy it . I am a proper planner and love my lists and schedules !!!
My only tasks for this week are arranging the house insurance and breakdown cover and booking my time off work for next year although I don't think we will go away yet , want to be debt free before I lie next to a pool with a good book and a clear mind .

gallygirl

andy1886 wrote: »

I have been given a list of improvements needed , 2 doors , windows , patio doors , conservatory , fireplace , kitchen , utility room / area , canopy , bedroom furniture , wetroom , dressing room , turn spare room into a guest room and decorate all rooms

Em...... that IS a new house :rotfl:. Great to hear you so positive, happy list making

beanielou

Just be careful your savings dont go over a certain figure while you are on DMP.
There is something niggling at the back of my mind about savings while on DMP~but I could be wrong.

andy1886

gallygirl wrote: »

Em...... that IS a new house :rotfl:. Great to hear you so positive, happy list making

I know , tell me about it !!! It is though the list of what we would do to a house if we moved but realistically we would be too old and not have funds available to do it when we would be eligible for a mortgage again . The only problem with where we are now is it has no off road parking and some of the neighbours arenot very considerate when it comes to parking , taking up two spaces etc . I finish work at 10pm so am the last to return home so usually have to park on another road but I have become used to this and don't let it show to the rest of the street . I now rise above it and don't sink down to their level .
On the list of jobs to be done I missed off bay window added to front room with a window seat and front porch with canopy over front of house as well . I am sure there will be more to come ...

andy1886

beanielou wrote: »

Just be careful your savings dont go over a certain figure while you are on DMP.
There is something niggling at the back of my mind about savings while on DMP~but I could be wrong.

To be honest I am quite uneasy about having savings whilst owing money but we have struggled for 30 months with no spare money at all and little things can really drag you down and this is a chance to have a few pounds in a savings pot for any emergencies . I have been quoted £1000 for 2 composite doors , neither door locks smoothly or opens without a lot of brute force , they are 10 years old plus and the pins are broken . This is the first job to do and I won't have the funds until next summer at earliest . We have a solid fuel fire in the living room and when the chimney was swept earlier this month there was a lot of rubble in the chimney which I have been advised means the chimney needs lining . Again it costs about £1000 to do this so that job will be next but not until the summer after , 2014 , after then I will probably use the savings to repay the debt and the other jobs can follow then as they are not essential just cosmetic to us .

andy1886

Ha ha I forgot this week is when the house insurance and breakdown cover for the cars needs renewing , weekend spent on comparison websites I think .

andy1886

House insurance renewed , saved myself £2 a month for more or less the same level of cover , hopefully not needed but I am sure it is still ample for our home .
Now to the breakdown cover , I know the cheapest are the schemes whereby if you break down you pay up front for what you need to do and send in receipts and get reimbursed . I have never used this type of scheme and I like the peace of mind that insurance gives you that if anything goes wrong you ring up and it is sorted . I really want to get cover that if I am at the roadside they come and tow me home or start me up . Will have to check it out today .
I don't like the way insurances have gone these last few years with them quoting you a low premium but you have to thoroughly check what they have left out and then charge extra for the cover . Just quote me a fully covered insurance premium and you've got my business , send me the certificate and policy wording , go back to the old ways of doing things please .....