Mortgage-Free Fresian? Here's hoping!

mooomin

Morning all,

Four days until payday and possibly about to make a large purchase - I must be mad

Today's news - I bought around £100 of stuff at the Next sale on Saturday, but am only keeping £13 of items. :A Sadly none of the trousers I bought are suitable, as I'm currently wearing trousers that are far too big. The hunt continues

Today I'm going to be working out my finances and applying for a loan to cover the balance of the car. From my rough figures last night I'm going to have to borrow £5,000. I think that the loan will allow overpayments, so I plan on overpaying every month - and if I can set it up for online banking I'll do it daily. This won't affect the interest (fixed from start of the term) but will greatly reduce the time I'm paying for. I checked insurance last night and it's looking like it will be around £600 for the year :eek: :eek: As I paid my last insurance in one go, will I get a refund for the months I haven't used? That would be about a £150 rebate by my reckoning.

The test drive is tomorrow, so today I'm going to get a final insurance quote. I plan to put the insurance on my credit card to earn oodles of Clubcard points and to benefit from not having to pay that bill for however many interest free days you get (56??) which will earn me some interest in my ISA.

I love it when a plan comes together

tomtombeanie

Great stuff, fresian! If you have a nationwide near you, you can use clubcard vouchers to pay for car service/MOT - I have done this for years now, as the garage we have used since forever happened to be taken over by nationwide about 8 years ago

Souk08

Exciting news about the car FF!!!

saorsie

flying_fresian wrote: »

I checked insurance last night and it's looking like it will be around £600 for the year :eek: :eek: As I paid my last insurance in one go, will I get a refund for the months I haven't used? That would be about a £150 rebate by my reckoning.

How exciting Flyin'!

Re: Insurance ~ you can either change your existing policy to cover your new 'baby' for the rest of the term, and pay the additional cost (or get a premiums refund if it's cheaper)
Alternatively you can cancel your existing policy and get a refund of the unused portion, then take out insurance with your 'new £600' company. Make sure you check your t & c's though as they can charge you a cancellation fee which could be quite hefty.

I did the first one as they were going to whack me with a £75 cancellation fee ~ I think not! :eek: However saying that I am still waiting for my refund of £80.66 as my new car was cheaper to insure ~ I'm after you e-car insurance!! :mad:

-s-

mooomin

Thanks Saorsie - my current insurer is coming up cheapest in the comparison sites anyway, so I might just give them a call.

I've had an interview with the bank and have been approved for a £6,000 loan which is coming in at £127 per month which I think will be affordable. I can also make overpayments to it, although I suspect not online.

That means I can spend some time tonight with Mr Fresian doing some budgeteering and speaking to our insurers so we can see what is likely to happen. Hopefully the car will be affordable.

gallygirl

flying_fresian wrote: »

On my phone so short post....

It's cream with black chequered pattern. It's the prettiest thing ever.

Oh, and in case Mr Fresian is watching...I know I have to do sums first dear, and I'm not getting too excited. *bounce*

I'm an auditor. Let me know if you need help in making the sums add up :rotfl:



PS Contingencies and balancing items are very useful at times

The cream is lovely

mooomin

The Plan

I need £9,200 in total for the car + insurance (astronomical....)

We're going to fund this purchase thusly:

£4,500 loan
£500 Handbag Fund *sob*
£1,500 from my ISA
£2,000 from our joint savings

Total = £8,500

£100 deposit will be sorted on Friday when I get paid. I'm therefore £600 short which is the cost of the insurance. This is going to be paid on a credit card and then paid off with:

£300 rent money (start of August)
£100 from my wages (Friday)
£200 August's wages

This means I have a smaller loan but a smaller contingency fund. I'm going to concentrate on building up my savings a little first then begin making overpayments to the loan.

I think this is a good way of doing things but I'm open to other suggestions....

yukkibear

Sounds like you have it all sorted. I've no doubt you're doing it the best way for you.

ShelleyC_2

flying_fresian wrote: »

The Plan
£500 Handbag Fund *sob*

But brand spanking new car is :j:smileyhea:dance:

mooomin

Morning all

I'm catching up with some surveys due to having woken up too early this morning. Some of the sites are looking quite healthy:

Survey sites

Onepoll - £8.35
Toluna - 40419 points (80,000 for £15 Amazon needed, so halfway there)
Mysurvey - 190 points (550 for £5 Amazon needed)
Ipsos - 800 points (1380 for £10 Amazon needed)
Swagbucks - 75 points as I redeemed a couple of days ago
Valued opinions - £6.75 (£3 pending credit, £10 needed for redeem)

My Amazon balance is £29.62 at the moment which I'm very pleased with.

Money

With three days to go until payday things look thusly:

Purse - £12
PAD/Spends - £5
Groceries - £18.49 (will only need basics if anything before Friday)
Entertainment - £9.19
ISA - £2,005 (For now....!)

It looks as though Mr F's sister might be thinking about moving out, which is great from the point of view of my personal space, but fairly bad timing from the point of view of my finances :rotfl: It will mean that I get my spare room back though which I'm very pleased about. It will leave me with £300 per month less money :eek: but I'm already showing a surplus, so I just need to be more frugal and I should be fine.

I need to start meal planning again more than anything as I'm back in the habit of nipping to the shops out of boredom and spending £10-£15 each time. This weekend I'll do a run of batch cooking and hopefully that way I'll have stocks of food in the freezer in case I'm feeling lazy and don't want to cook. Today I'm slow cooking some 99p chicken quarters from Aldi with tomatoes, veg and garlic, so they will be ready when I get home and then we can head out for our test drive :j

Not a lot else to report really. I didn't get anything listed on Ebay this weekend as I was running around like a loon looking at cars, seeing the Harry Potter film, visiting a friend out of town and was out for dinner with a friend who's visiting from America *phew* Once things calm down I do plan on taking photos of the items I need rid of and writing listings so that the next time there's a free weekend I'm ready to go.