Millionaire Challenge

Wizzbang

fragmented wrote: »

thats why it's not a good idea to quote links that break the rules, as even when the link is removed it remains in the quote :shhh:

Oh well, that's easily edited.

Kayalana99

Had a rough week but things are calming now, have a big ish wedding Saturday and a rehearsal tonight for it but still have my last wedding to edit which I'm getting through today. (not had chance with what has been going on)

Sending off my student finance forms today or tomorrow and I've edited my spreadsheet to have a 'net worth' which is not very high with what I owe my Grandad but for the first time in a while we don't have anything to pay out for or worry about saving for - so going to focus on getting the emergency fund higher.

cazmanian_minx

Not much of a sit rep to give from here, but my carpenter has managed to give me a day of work today, which means that my roofing team can now get motoring, and he'll hopefully be back for a day next week to come and put the studwork back in for the electrician to run his cabling down it. I've got to order a scary amount of insulation and plasterboard and then we're pretty much at first fix and can start thinking about getting Derek in to put the underfloor heating down.

I'm trying not to think about the size of all the cheques I'm writing, but I'm vastly cheered up by the fact that a small two-bedroom holiday cottage not far from here, which is perfectly nice, but has a motley collection of dated furniture and an old beige bathroom suite and kitchen has not only managed to get a 3* Visit Scotland rating, but is booking at £750 a week for peak season. I'm aiming for a 4* rating, but right now I've still got bare stone walls so there's a way to go before I can make an appointment for the inspectors to come and have a look!

I am learning so much though. I saw a little terraced derelict cottage come up for sale last week in possibly about the best position you could imagine for a holiday cottage, literally 10 yards from the beach, spectacular views, and an asking price of offers over £22,500 (no, that's not a typo). Six months ago I'd have jumped at it, but now I'm thinking, 'Well, it's old enough that it might not have foundations and that close to the beach it's probably going to be built on sand, so there's a possible subsidence problem from the start. If you start knocking it around, you're possibly going to damage the ones on either side and it's on a single-track road with no parking other than a tiny pull-in place. It's probably going to take £50k to make it habitable and it's never going to be worth more than about £80k.' It's gone to a closing date of 1st July already and I shall be very interested to see what it actually sells for.

In the meantime, I'm cracking on with my decrofting application for the land mine sits on, so that I can get a mortgage on it to pay off the 0% balance transfers. It's all done bar the maps - I need to work out exactly which bits I want to decroft for the garden area.

Kayalana99

Very very quiet on here?

Rang my mortgage company to get a lower interest rate and for some reason they have our house valued at 102k (would say it would sell for about 92-93k) so our LTV is so low our interest rate is now 2.55%!!! Just saved £130 a month - just like that.

Finally managed to do my book-keeping and made a very low amount this year due to spending ....£7,500.... on my photography equipment (and that's just the big stuff, not counting the odd memory card and batteries here and there that add up) so I expect our tax credits to raise about £100 - so come August I think we will be about £230 better off a month. Crazy.

Also, don't have any other equipment to buy now so anything the business makes will go in our pocket from now on...hopefully....life should be a bit easier, and we are going to start putting a monthly amount aside for a deposit on the next house (cause our LTV is so low we'd get a B2L mortgage without having to pay any more off, so all we need is 10-11k or so for the next house)

So hopefully, if this all goes well - in 3 years I'll have my degree and be working full time and we will be buying our 2nd house....but if this all happens as it should, life is about to get a lot easier.

lessonlearned

Good morning fellow Millionaires in Waiting......

How are we all doing.

KAya - £230 a month better off is fantastic - especially as you have done now with buying expensive equipment. You should be able to really motor ahead. Great stuff, well done you.

Caz- how are the renovations going. Has all the rain held you up. Much more and we will be developing gills and webbed Feet.

Well I've had a very busy month although I don't appear to have achieved much. I've struggled with a couple of minor health niggles but seem to be back on track now. I've made a start reorganising the cellar and we've made a good start on some decorating. The garden needs finishing but the weather has just been too wet.

I've actually got round to viewing some properties this week but still not decided on anything for definite. Still living happily with my son. It suits us both.

I need to do a financial review this week. I know I've got one last large credit card bill to clear but hopefully, like Kaya, that will be my last major spend for a while.

I am off to Belguim in August - but it's all paid for and I have plenty of euros left over so that's all taken care of. So other than my car service in September I should manage a good clear six months of saving.

I've just opened a HSBC regular savings account which pays 6 per cent. That will be the travel fund ..:rotfl:

That's about all my news this end.

Last week was my 65th birthday and next month it will be the 2nd anniversary of my husband's death.

How time flies.

I'm happy with my progress so far and have enjoyed my "time out" this last couple of months.

I'm ready to crack on again now.

Muhren

Happy birthday for last week LL!

I now have 4k in cash savings, I am also in the process of opening a regular saver with HSBC. I should hopefully get £150 for opening up a CA with them and another £50 once I have been with them a year.

The shares I hold in my company are still around the same as they were pre-Brexit, hopefully that will be the case in September still when I can move them into an ISA.

I'm still on course to move back into my house in September. I should be able to get a good deal on a mortgage, if the EA was correct in their valuation of my house. That will opefully mean shaving off around £100 to what I am currently paying on the BTL mortgage.

lessonlearned

Hi Muhren. You are doing really well, making great progress.

Yesterday I spent a bit of time looking at savings interest etc.

I also bank with Santander and have discovered they have a regular saver at 5 per cent so I think I will sign that up too.

I also discovered that Virgin have dropped the interest rate on my saving account with them so I need to look at moving that too but because it's "house money" I need instant access.

It's hard work trying to find decent interest rates and stay ahead of the game. :rotfl:

I'm struggling a bit with my back and neck. I am going to have to take a bit more care. I will need a course of weekly treatments to straighten out the kinks and get me right again.

Obviously I would rather spend the money on something more enjoyable but hey ho.....if it sorts me out and keeps me pain free and more mobile then it's worth it.

Then once I'm sorted I'm going to join a gym and concentrate on my health and fitness. I also think long term I need to start buying in a bit more help.

I need to make some changes - plenty to think about.

cazmanian_minx

Happy belated birthday, LL

One half of the roof is done and I have my joiner back for the first time since 23rd June, so today the front Velux is being replaced and then he's getting on with the studwork/framing inside so the electrician can crack on and we can start getting some insulation fitted.

Thought I was going bonkers this morning when one of my roofers came down to pick me up in their van because a delivery driver had arrived with a kitchen for me to sign for - mainly because I didn't think I'd ordered a kitchen! (I do forget things, but that would be a fairly large one in the scheme of things.) It turned out to be for Billy round the corner, but as the driver had been here with all the insulation a couple of weeks ago, he just assumed it was for the one he knew was being worked on (house numbers being in rather short supply up here!).

graphicdesign1

Hi all

I have been a long term reader of this thread but have only just joined up to MSE.
I hope to join in the thread at some point, but my goals are currently not money motivated but instead revolved around being more organised and getting my business up and running.

I had some time out of my 'career' and made money with some online ventures and am now looking on getting back into my main area. If anyone in this thread has a small business and needs any design work please check out my 'free graphic design' thread.

So my current targets are:
Build my new website and get it online
Expand the portfolio
Finish some books I keep meaning to read

My financial targets will follow

Glad to see you all seem to be doing very well currently and hope it will continue for you all for the rest of the year.

lessonlearned

Good morning all

Caz - had to smile at your delivery man and the kitchen. I bet you thought you were going loopy.....:rotfl:

Welcome to the gang, Graphicdesign.

Well I have had a bit of a set back.

Had a car crash on Wednesday. My fault, mea culpa.......I'm not hurt, just a bit of whiplash but I'm afraid the car is probably a write off.

Felt a bit groggy yesterday but slept well last night so feel a bit better. I've booked some Physio for Tuesday. I was already struggling with my back and neck and the jolt from the accident hasnt helped so I will have a course of treatments and try and get myself sorted out.

I will consider the money as an investment in my health and future well being. :rotfl:

Other than that I shall just take it easy for a while.. I take dad to Belguim on 11th August for a few days so I want to be ok for that.

No other news, except I had a nice little premium bond win this week. Only £25 but every little helps.......