Millionaire Challenge

lessonlearned

Weddings......a licence to print money........:rotfl:


DS1 is getting married next May and I can't believe the figures ...... Well I can but all I can say is ouch.

I had the big white one first time round, it ended it divorce. second time round I was adamant it would be "small and tasteful" (read cheap:rotfl::rotfl:).

My late MIL (God rest her soul) was a raging snob and was appalled. I think she just wanted to show off to her friends.

DS1s wedding is complicated by the Venuezalan/Spanish aspect. A lot of the brides family and friends live in Spain and won't be able to come to the UK. so the actual wedding is here, but then There is also some kind of,church ceremony in Barcelona and some celebrations there. So yes it's getting expensive.......

.Her parents still live in Venezuela so they will be coming to Europe for the month. Actually they are coming over this September too so it wil be nice to meet them and the families can spend some time together.

Yes its an expensive time but a joyous one, it's just a shame my OH is no longer with us. He would have been in his element, playing the host and partying like it was 1999. We will just have to raise a glass or three in his honour.;)

Karmacat

lessonlearned wrote: »

DS1s wedding is complicated by the Venuezalan/Spanish aspect. A lot of the brides family and friends live in Spain and won't be able to come to the UK. so the actual wedding is here, but then There is also some kind of,church ceremony in Barcelona and some celebrations there. So yes it's getting expensive.......

A nephew of mine married a Polish woman, flew over there to ask her dad for his hand, the whole shebang and quite a few of them came over for the wedding, plus her friends from the Polish community in this country, of course. I learned a few words of Polish, and spoke them to her dad (and then found out much later he had perfectly fluent English, as it was his *fourth* language what a gentleman for not saying anything to me!). It was all spread out over a very long day, and they were *trying* to do it as low-key as possible, and the cheapest thing for the middle of the day turned out to be a rented London bus doing a tour That came with two staff attached - one to drive, and one to keep out the tourists, who kept wanting to clamber on, understandably :rotfl:

The next family wedding was in a tiny parish church in the south of France, and I think the next one's going to be in Eire, then Scotland - it's all quite adventurous :j

tinktay84

wow ive missed a lot again!
Ive been grafting my socks off even in this heat but as ive been working with another girl we have managed to et finished by 2 most days and avoid the hottest part of the day. Ive got 1 more day on the job we are on then ive finished all the jobs that had booked in until august so am in a nice position to move work forward and get some more money in.
Looking forward to a much needed week off soon though to spend with the kids.

minxy-x

Have a lovely day on Monday LL.

Not been up to much today, catch up with TOWIE, cleaned the house, food ready for this evening, and did my free bet for matched betting.

minxy-x

Matched betting is still going well :j, I am keeping the bits I make in a separate account so I can build up a pot to make more money by being able to place higher odd's bet.
Once I have a sizeable amount to work with I will then start withdrawing the profits.
Also doing loads of reading on how to look like a mug better, and keeping accounts open.


Its been a hard few days for the business we have been without some utilities on/off over those days, and unfortunately that means we have not been able to to offer all of our business services.
My husband has been heavily offering the other services and adapting so we don't take too much of a hit.
It looks at though we will cover all bills and wages etc, probably no income for us.
But that is the way the cookie crumbles, and those excellent weeks make up for these, and at least income has covered all expenses!

Still exploring other short and long term business plans, we are always researching something :rotfl:

I want to work out what we have achieved money wise so far, we quite often look back on the other things achieved as part of ongoing plans.
how do you work out your net worth?
Do you count equity in your home even though it could go down?
I have no idea on how to value our business, so I am going to take
the lowest offer we have had from someone to buy it.
Anything else I have missed, this isn't a serious task just more of a look what we have done.

Karmacat

Net worth! Difficult ...

I count my house as a plus, even though I have to pay maintenance - if I didn't have a house, I'd have to pay rent, which would cost more, especially round here.

Easy access savings, long term savings.

Pension plans.

Negatives:
mortgage on the investment property in France.
Don't have any other loans.
I'm self employed, but as a counsellor - not a business that somebody else could buy, sadly!

So thats house plus savings plus pensions less investment mortgage.

State pension - still more than 5 years in the future, so not inside my net worth right now, sadly.

Broken_Biscuits

to calculate property value as part of my net worth i personally go on zoopla get my value there and take off 10k. I logged on today before writing this and am surprised to see its up at 180k. I bought it for 149k 15 months ago.

the reason i take off 10k is i believe agents over value and people will always make a lower offer.

so 170k minus outstanding mortgage 109k = 61k. Divide by 2 as its a joint mortgage. ( you never know, her indoors may decide shes leaving tomorrow and taking her half!). I actually work it out slightly differently than that as i put the bigger deposit in. But that's how it would be done if you have a joint mortgage and put in equal share of the deposit. So we put down a 30k deposit, of which 25k was mine. So 61k, minus 30k = 31k/2 = 15.5k ... I have 40.5k equity in my home. Mrs Bb has 20.5k. *

I then add my pensions, savings, isa's, money owed to me and cash in my pocket. I don't own a car, but they would be hard to value as constantly depreciating.

i don't have any debts but if you do or any other liabilities then you have to deduct these.

personally i dont add up the value of my stuff. Tvs. Sofas dvds etc. I just cant be bothered, i guess if i had more stuff and thought i might sell it then maybe i would include it. Probably not, until i actually had the cash from the sale.

Mrs Bb has invested into quite a bit of equipment for her work. I would count that if i was working out her networth. Hard to put a value of the good will of her business, so i would probably just not bother.

*actually just remembered we've overpaid 6k over the last 2 aprils. 5k of that was mine, 1k hers. So i have a 42.5k and mrs bb has 18.5k.

minxy-x

Thanks KC and BB!
I have worked it out, not a proper evaluation I am sure, but good enough for me and what I want.
Though I do not have a clue what's in my pension- for someone that likes to think themselves as money savvy that is shameful!
Though in my defence I received a letter previously and the amount I would receive was crud, and I am not intending to stay as an employee for more than a few more years.
I do need to look more into private pensions/SIPP's, although our BTL plans are part of the retirement fund plans.

Karma
Hows things going with your property in France? I know previously you had issues, are they all sorted?

Karmacat

Hi minxy! Well, the issue of renewal of the lease, so the managing agent will continue to arrange the ongoing lets to holidaymakers - yes, thank you, thats sorted - how sweet of you to remember!

The longer term issue of it being a horrendous investment - nope, I've lost out - financially, opportunity cost, aggro, you name it, I've lost via it! I *may* get within 15-20% of the purchase cost (i.e. *less* than the purchase cost). My retirement would be a very different proposition if I'd just invested in low cost tracker funds, or bought a little terrace in Liverpool outright, which was the other option at the time.

Sigh ....

Kayalana99

We all make mistakes KC ...one of those things. More people regret the things they didn't do then what they have done, if you had never of brought it I wonder if you would still be kicking yourself thinking 'what if'

Well my family photo shoot didn't happen, for some reason she thought I was just going to photograph the kids for her...I made it very clear it was a family photo shoot when I asked her so not sure if her partner didn't want to go ahead so she was trying to find a way around it without just saying 'no'....I've advertised on a local selling site to try and find a family of four but no response yet...fingers crossed because I feel like I'm really putting myself on line here as it's a public group everyone in my friends list can see it... #sigh. Perhaps I could of found a more private one to try first haha but NVM.

Thing is I think I'm now roped in to taking her kids to park one day to take photos...but problem is all my research has been around family and couples and I had a whole family shoot planned out for them...which I would now have to re do although at least I can move this plan onto someone else, it's just not what I want to be doing right now as it doesn't really help me much.