Having a bad debt free day

Bubby

ILW wrote: »

Why not sell up and buy a smaller house, or a similar house in a cheaper area?

This is a "last" resort for us, we live in a very wealthy area which we are now settled in with schooling/work etc and to get somewhere cheaper we would need to move quite far which would mean moving schools and a longer journey to work. This is always at the back of our mind and if it got to a serious point then we would have to do it but it would cause us all so much upset etc that we want to hold off at the moment.

gratefulforhelp_2

Hugs, and its horrible for you. We often have to say we can't afford to do things other people can, not because we are DFW, just because we have chosen to have a big mortgage. I know its easier when one makes a conscious choice.

I'm hoping, though, that no-one close to you is ill or dying, and you are all well - and if so, then rejoice and let go of the material things if you can.

If you can flog some stuff on ebay, you could pay for the swimming lessons maybe?

Erme

Hugs hun...

I don't know if you've already tried it but what about weezl and friends budget meal planner? Call me patronizing but I'm just trying to think of how you can save...

Yeah it'll be a real shame to have to cut the children's swimming lessons and you're right - if you move you may well pay more transporting the wee ones to and from school...

Me I'm in a diet mode today...on a NSD (and supposed to be a NID as well...no internet day) cos it's Sabbath - woe is me...I'm online so it's rice and lentils for me tonight with some soup I made the other night....

Tasted yummy 2 nights ago ...got the rice yonks ago from an asian supermarket..got a whole sack full (10kg) for like £7 or something...:D

E

ILW

Bubby wrote: »

This is a "last" resort for us, we live in a very wealthy area which we are now settled in with schooling/work etc and to get somewhere cheaper we would need to move quite far which would mean moving schools and a longer journey to work. This is always at the back of our mind and if it got to a serious point then we would have to do it but it would cause us all so much upset etc that we want to hold off at the moment.

Fair enough, it is your choice, but it does appear that the positives of the house are being outweighed by the debt situation. It is very likely that IRs are going to go up and you appear to be right on the edge if you cannot afford a few quid for swimming lessons. I would suggest it may be worth looking at the options rather than putting it off before things get out of hand.

BadBear

I am also scared about my mortgage, at the moment i am paying interest only of about 500 pounds and left with 400 pounds after all debt payments and expenses. if the mortgage goes up by 200 to 300 pounds, i will have to struggle.

ILW

BadBear wrote: »

I am also scared about my mortgage, at the moment i am paying interest only of about 500 pounds and left with 400 pounds after all debt payments and expenses. if the mortgage goes up by 200 to 300 pounds, i will have to struggle.

As advised before, look at selling and getting something cheaper.

Bubby

ILW wrote: »

Fair enough, it is your choice, but it does appear that the positives of the house are being outweighed by the debt situation. It is very likely that IRs are going to go up and you appear to be right on the edge if you cannot afford a few quid for swimming lessons. I would suggest it may be worth looking at the options rather than putting it off before things get out of hand.

The swimming lessons are £20 per week, it is a private tutor (who is extremely good with children fearful of water) so its more than a few quid. If we could sell the house at a profit or even walk away with no debt then I would be the first to do so but the housing market locally has only just started to pick up and people are making silly offers to a house a few doors down (the latest off would be less than our mortgage on the house:eek:), it is a very affluent area and I think that it will eventually pick up (although never return to the value pre recession). If we sell and still have our debts then we will not be able to get another mortgage so we will be in an even worse situation at present. I do appreciate the suggestion and can see that this could be beneficial for lots of other people.

Esqulax

Is there no swimming program thats group based? no doubt it may be a lot cheaper. Although the swimming can be a finite spending.. they will be abl to swim eventully and its something you dont have to pay out anymore!

Norfolk_Jim

Bubby wrote: »

This is a "last" resort for us, we live in a very wealthy area which we are now settled in with schooling/work etc and to get somewhere cheaper we would need to move quite far which would mean moving schools and a longer journey to work. This is always at the back of our mind and if it got to a serious point then we would have to do it but it would cause us all so much upset etc that we want to hold off at the moment.

If you do end up doing this, don't make the mistake I made and overlook just how expensive it is to sell & buy a house and end up in a smaller house having made a lot of money for other people but not being any better off yourself.

kdenty

Is it any loss if they can't swim (said the non swimmer)? As an adult who swims very poorly (I didnt really bother to learn as a child) I know my limitations and won't go in water that us unsafe for me. I still enjoy a paddle at a beach and sitting in a pool where my feet can touch the bottom though.

Maybe find an activity you can enjoy with the kids as a family for free eg explore a local beauty spot, plant a veggi patch in your garden (free food).