Onwards to freedom!

greent

How do you track your car's/ cars' (?) value? - do you just look it up on a site each month?

SuperSecretSquirrel

Thanks KC

Hi greent, I just get an online estimate of the car values each month. It's not an exact science, but the estimates feel about right to me

crv1963

Hi greent and SSS,


I have written off the value of our cars when calculating net worth, my logic being as a depreciating item that will eventually need replacing if I count them as money written off then it's one less hassle to check up on or write on my asset sheet.


Of course if they were classic cars or supercars I would include them!


CRV

SuperSecretSquirrel

I had considered doing the same crv, but 14k of fairly easily sold assets is a lot to ignore I include the cars in the total net worth figure, but not in the liquid assets or FI figures. Again, my inconsistent nature is showing - I don't include the value of bikes, furniture, jewellery, electronics, etc in any of the figures. The total value of that stuff, which is also fairly easily sold, amounts to a not so insignificant amount!

Credit club update this morning... Score has dropped by 96 points, down to 646. The only recent changes I can think of are the mortgage account being closed, and possibly a credit check when switching energy supplier. Maybe ed was right and the numbers really are randomly selected :rotfl:

edinburgher

Definitely random - sitting pretty at an entirely undeserved 890!

SuperSecretSquirrel

SuperSecretSquirrel wrote: »

Next job will be to convince OH that she should increase her pension contributions as she's currently paying in the very bare minimum, but this is very much a slowly slowly catchy monkey kind of thing

That was three years ago... Slowly slowly indeed! :rotfl:

Now that the mortgage is done and dusted, and cashflow has improved, OH is focusing on savings. As a rather nice surprise she announced last night that she will be splitting the funds between standard savings accounts and her pension. Little to no hounding from me involved

Gone are the days of a frankly pitiful 2% (+3% employer contribution), welcome to the far more respectable world of 10%+3%

edinburgher

Is OH's pension salary sacrifice? If not, did she review the costs of her employer's scheme vs. a cheap SIPP?

SuperSecretSquirrel

Hi ed, yep, salary sacrifice for extra NI saving goodness

SuperSecretSquirrel

[SIZE=2][FONT=Courier New]               CURRENTVALUE      +/-MTH       +/-QTR       +/-YOY
House Value:    [COLOR=Blue]£125,000.00[/COLOR]       £0.00        £0.00        £0.00
Pensions:        [COLOR=Blue]£76,156.55[/COLOR]  -£2,364.01   -£2,302.11    £9,232.77
S&S:             [COLOR=Blue]£28,350.16[/COLOR]     £292.43    £1,742.89   £12,045.77
Cash:            [COLOR=Blue]£25,466.10[/COLOR]     £470.30  -£14,110.26  -£19,203.40
Car Value:       [COLOR=Blue]£13,985.00[/COLOR]    -£100.00     -£730.00   -£2,180.00
Mortgage:             [COLOR=DarkRed]£0.00[/COLOR]       £0.00   £14,140.28   £20,907.54
Student Loan:      [COLOR=DarkRed]-£115.60[/COLOR]      £66.51      £199.35    £1,879.94
Due to HMRC:       [COLOR=DarkRed]-£244.47[/COLOR]     -£20.43      £268.76      £244.13
[B]Total:          £268,597.74  -£1,655.20     -£791.09   £22,926.75[/B][/FONT][/SIZE]

89.5% of the way to 300k net worth (2020 challenge), 0.0% mortgage ltv, £53,571.79 liquid assets, 28.8% financially independent.
__________________________________________________

Another hit to equities this month, ISA and pensions have taken a fair beating! :eek:

C'est la vie, this is what we signed up for I have to admit to feeling a little disappointed when I first realised our net worth is now lower than it was at the start of the year, even though we've been doing everything right during that time, but I soon snapped out of it when I realised that we hadn't really done anything to "deserve" the ridiculous increases last year either - two sides of the same coin really. The uncertainty does make setting realistic targets far more difficult than when dealing with simple cash values though!

Yesterday marked the last day of spend tracking - we're both glad that's over and done with! :rotfl:

Lots of useful data gathered, every penny spent as a household over the last year (excluding mortgage and childcare) amounted to a grand total of £17,403.00. Bills (council tax, gas, electricity, water, phone line and internet, home insurance, life assurance, tv license and paid tv, mobiles, and all car costs) averaged £530.08 per month. Weekly shopping (food, toiletries, cleaning products, nappies, etc) averaged £336.85 per month. Everything else amounted to an average of £583.32 per month. I captured the data at a fairly granular level (lots of categories, daily amounts) so I'm sure I'll have what I perversely consider "fun" carving it up in various ways over the coming days and weeks and months

Finally, it's nearly time to withdraw a chunk of cash from PB's to pay off my slow stooze spending card. The 0% promotional period ends in a couple of weeks, so once this month's draw has taken place, I'll take care of it. I'm faced with the choice of simply paying off the balance and leaving the account open - leaving me with a 53.1k total credit limit at 64% utilisation, or paying it off and closing the account - leaving me with a 41.1k total credit limit at 83% utilisation. Not sure which would be best, but I'm pretty sure I'll go for the former in the first instance as it won't involve a phone call, and I imagine it to be far easier to close the account later rather than re-open it later.

Happy Easter everyone, try not to eat TOO much chocolate

Moneyfordreams

fab read to catch up SSS , congratulations :T:T:T