KolaKubes Crazy Rags to Riches Mortgage Challenge! Part One - Saving a deposit!

KolaKube

Payday today, £1056 transferred to isa, making total £3400!

One third of the way there! :j

Anticipating that savings will slow down a bit over the next few months, but still on for £10k by Dec 2011!

KolaKube

Morning everyone!

I'm on weekend nights this weekend, so hopefully spends will be at a minimum Have taken out £50 to last until next Wednesday rather than my usual £150, to see if I can do it! We have plenty of food in (might need to buy a few onions, milk etc but otherwise plenty!)

Have taken back 3 ridiculous tops I bought the other day in a fit of madness (£41 back in the bank) and I shall transfer the refund to the savings pot to teach myself a lesson when it arrives lol :cool:

Aiming to do some cooking / baking today to get us through the weekend, will have a dig around in the freezer and see what's in there to use up - I'm thinking a big pot of curry would go down quite well with OH.

OH seems to be slipping into a bit of depression (he is known to slip in and out, I think he's had 2 quite major episodes since we met) this past few days so I'm quite upset I can't spend the weekend with him to look after him, the odd working pattern is the part of my current job I hate most! Change to my new role on Wednesday (no nights or weekends!) so I'm quite excited :rotfl:

Hope everyone is well!

Kola

SmlSave

Well done on taking the tops back that you bought Kola

Hope your OH feels better soon

KolaKube

Hello everyone!

How are we all?

Started my new post today and I am VERY happy it's so much more relaxed and everyone is very friendly, I can tell I am going to be very happy there, less money or not!

We have now had all the yes / no replies for the wedding and I am pleased to say we had saved over the amount needed to finish everything off by nearly £1200!! Have transferred £1050 to the house savings pot bringing the total to £4500 :T getting there! If we could manage £5000 by xmas I would be very happy indeed :money:

xx

sKiTz-0

That's a brilliant start! You'll smash that 10k target if you carry on.

Bad news here - I got one of the bad letters from the tax man, to the tune of £1500 :eek: So that's a setback to my year end target. Although he doesn't want it until after 31st December, so more a setback to next years target.

I hadn't decided on a figure for end of next year yet but will have to bear this in mind. I'll be coming up with a June target and a December target.

Still a long long way off what I'll need for a decent deposit (factoring in fees, surveys, furniture etc), but, it was only 17 months ago when I had paid off all my debts.

I've come a long way since then , just a shame that it's flown by so quickly!!

KolaKube

sKiTz-0 wrote: »

That's a brilliant start! You'll smash that 10k target if you carry on.

Bad news here - I got one of the bad letters from the tax man, to the tune of £1500 :eek: So that's a setback to my year end target. Although he doesn't want it until after 31st December, so more a setback to next years target.

I hadn't decided on a figure for end of next year yet but will have to bear this in mind. I'll be coming up with a June target and a December target.

Still a long long way off what I'll need for a decent deposit (factoring in fees, surveys, furniture etc), but, it was only 17 months ago when I had paid off all my debts.

I've come a long way since then , just a shame that it's flown by so quickly!!

Oh skitz-o! How did they come up with the £1500?! Is there any way to challenge it? And can you pay it in small bits? That's a hefty sum to ask back

Have you any idea of your june / dec targets? At least you can factor it in? You're right though - just think how far you've come since before you paid off the debts!! You're doing brilliantly and although the bill is a tiny setback, us MSErs don't let that kind of thing get in the way of saving up, right?:money:

sKiTz-0

It was a mess up with the way the wages were paid when I had a second job to help pay of the debts asap. Think I can pay in installments through PAYE - they just take extra tax every month over the next tax year. Will just have to call them to confirm. Tempted to pay the lump sum from my savings then it's done with, but having the money in my account would mean I can be earning interest on it so not too sure.

I was thinking of aiming for 4k from Jan - June then another 5-6k from June-Dec so 9-10k for the year. I've yet to do the full budget/maths on wages/bills/investmentsbank accounts etc, so that's a very rough figure, and may be slightly on the high side.

museumworker

Fantastic news on new post, glad you're happy there. I took a paycut for new job, was best thing I did as I am so much happier can't put a price on that.

Thanks also for posting the crafting ideas for me, i must admit I still find it all a bit frightening but will look again at it when less all over the place housewise.

Fab savings for house total too :j!

loumac

Happy New Year Kola!

How's the challenge looking as we start 2011?

Emsky*

Hope your ok Kola!" Haven't heard anything for a while