help please????

djdido2

newbie to dfw. excellent site and i am totally addicted.

looked at other threads and there are some wonderful people about.

i need help!

i am a single mum working for the last three years self-employed. all this time i have been paying sky high rent on private properties. always dreamed of having my own house and so started the ball rolling to get a mortgage.

put in an offer on a property and this has been accepted (yipppeee!) so far have paid £395 for surveyor and searches.

been saving wages like mad for the last 4 weeks and so far have just short of 2 grand. roughly i need another 2 and a half grand and CANNOT afford any more loans. trying my best to raise money in other ways but is there anywhere i can stash this money where it will gain some interest????? even if its only very little i suppose it helps??

i am so scared that when all the paperwork malarky is sorted that i wont have the money i need and it'll all fall through.

any suggestions/help/support will be greatly appreciated.

thanks
x

please feel free to move this if it's in the wrong place!! (ta)

piglet6

Hi djdido2! :hello:

Welcome to the DFW board. Its fantastic that you have decided to join us. I'm afraid that I don't have any great ideas for multiplying your savings so far (if I had any "get rich quick" schemes that were that certain, I would be using them myself! ) but wanted to wish you luck and say that I admire what you are doing in your situation (I'm not a single mum myself but have a cousin and a close friend who are so I appreciate how much work that takes! :rolleyes:). I hope the offer on the property goes through successfully, and that everything works out well for you. If you want some additional advice, why not post an SOA and the fantastic people on here might be able to see where you can save money on your everyday outgoings, which will give you extra to throw at your property fund...?! :T

Nice to have you on board with us, anyway!

Piglet

djdido2

what a lovely welcome. thankyou!

forgive me but what does SOA stand for??? (doh!)

would be nice if peeps could help me save some cash!!

x

Wonder_Girl

Hiya Djdido2

Welcome to MSE

An SOA is a statement of affairs, a list of ALL your incomings and ALL your outgoings, and then this lot here will advise you an ways you could make cut backs a save some money

It's great to hear your getting on the property ladder, it means there is hope for the rest of us. fingers crossed for you, hope it all goes to plan

WG xx

piglet6

You're welcome!

SOA stands for Statement of Affairs and it refers to a complete list of all your incomings and outgoings each month (its a bit personal , telling everything in your financial life, to the rest of us, but please try and do it - nobody will judge you , and people here have some fantastic tips for how to cut spending when you think you have already got the cheapest deals on everything, thereby freeing up spare cash for other things! ).

Check out the post for First Time Posters by SouthernScouser - it is a "Sticky" (i.e. a thread that stays at the top of the board, rather than move down the page like normal) on this board, and it has an example of an SOA which you can use as a pattern. Just post as much information as you can, and, if they need it, people will ask for more...! In particular, if you have any credit card bills, it helps to post the interest rates (apr) as this helps work out which order it is best to pay them off in. Also, try and put as much as possible into the "outgoings", remembering little things like Christmas/birthday presents, etc, which we all buy, but we often don't remember to budget separately for...! :rolleyes:

Piglet

piglet6

Wondergirl types so much faster than me...:p and manages to say things so much more succinctly...!!:rolleyes:

Piglet

djdido2

thank you so much for taking the time to reply. will start my SOA first thing as its a bit late now.

in the meantime whats the nerd club and how do i join?

always wondered how people have there debt info in there sig????

lots of useful stuff here. i have a business account and a personal account. dont have any adverse debt (apart from loans) but got into a bit of a tizz by mixing up my outgoings by using the wrong accounts to pay stuff from.

practically pulling my hair out.

cheers once again!
dj
x

anniestar

Welcome and good luck.

Edinburghlass_2

djdido2 wrote:

thank you so much for taking the time to reply. will start my SOA first thing as its a bit late now.

in the meantime whats the nerd club and how do i join?

always wondered how people have there debt info in there sig????

lots of useful stuff here. i have a business account and a personal account. dont have any adverse debt (apart from loans) but got into a bit of a tizz by mixing up my outgoings by using the wrong accounts to pay stuff from.

practically pulling my hair out.

cheers once again!
dj
x

If you want to know where to gain the best interest rate for your money you really need to look on theSavings and Investment Board.

I take it as you have made and had accepted an offer on a property you already have a mortgage offer in place but you can keep an eye on the Mortgage Board if you have any problems with your mortgage progressing.