Batten down the hatches.....

Orange_Ena

catriona79 wrote: »

Interesting money making ideas there!!!

Definitely weird with a lodger at first, but the lovely money :money: should lessen the pain considerably!
Yeah spot on re bedroom being your hang out!

Well I wanted to explore every option. I think I'll stick with the surveys for now :rotfl::D

Oh I think the £280 ish profit from lodgers will definitely soften the blow. :T I've been looking at armchairs today, to go in the corner of my bedroom. If i'm going to be hanging out in my room I best not been sitting on my bed all the time.....I'll fall asleep too easily!

Orange_Ena

I'm currently sitting in the dark in my bedroom avoiding the trick or treaters :shhh: I haven't bought any stuff so they're bound to knock the door! When I've bought sweets in previous years and been all organised nobody has knocked :rotfl::p Happy Halloween :beer:

Thursday
* £10.02 on fuel
* £5 cash received for eb@y collection item and put in my savings tin
* VO survey
* No SB earned......went to the pub instead for the quiz where we came joint second :T Spent 70p on a charity donation and just drank free tap water :A

Friday
* £4.72 for lunch
* £15.49 on top up groceries and receipt scanned on checkoutsm@rt
* Youg0v survey
* 261SB earned
* £2.50 cash received from Shp0ck collection item and put in my savings tin

Saturday
* NSD
* 2 VO surveys
* 112SB earned
* £1.53 sweep into my overpayments account which stands at nearly £140 :T:j I only started that this month and I've put my eb@y and survey profit in there, as well as the odd sweep so I'm chuffed. :T:j:T:j:D
!
I've got 12 items on eb@y at the moment, all finishing tomorrow night. So far I have 29 watchers, 3 items with bids on and a running total of £9.68. All helps!

I still feel a bit overwhelmed and mopey but I'm totally blaming work for that I keep getting a bit distracted with what I'm doing and where I should be targeting my money. One one hand, I'm desperately wanting my debt gone and wanting to throw every spare penny at it so I can quit my job. And then I'm trying to save to get my house updated a bit and the spare room sorted so I can get a lodger in to get me to goal quicker. And then I have thoughts of getting a £1000 EF together which is about a sixth of my debt!

But now, what I'm actually doing, is living within my means and budgeting properly by putting away bits in little savings accounts like a proper grown up........but my debt isn't going down quick enough!

I've got that £140 in my overpayments account but for some reason I'm hanging on to it. I don't know what to do! I feel like I'm spreading my money a bit thin and perhaps I should just concentrate on one thing. Most of my debt is on 0% but there's about £600 that isn't so maybe I should concentrate on that first. Or maybe get the house sorted so the lodger money can roll in.

Arrgh I'm driving myself mad! :eek: Answers on a postcard...........:D

crazy_cat_lady

Sounds like you need a plan. A write down plan where you can tick things off when they're done... If you're not sure what to prioritise then you need to do your pros and cons list. There is no right or wrong decision I don't think - you just need to decide and stick to it.
Sorry to be so infuriating - I'm a person that likes a clear right or wrong thing to do and I can't bear uncertainty... so I know how you're feeling about wondering what to do for the best.

Orange_Ena

crazy_cat_lady wrote: »

Sounds like you need a plan. A write down plan where you can tick things off when they're done... If you're not sure what to prioritise then you need to do your pros and cons list. There is no right or wrong decision I don't think - you just need to decide and stick to it.
Sorry to be so infuriating - I'm a person that likes a clear right or wrong thing to do and I can't bear uncertainty... so I know how you're feeling about wondering what to do for the best.

Thanks CCL, you're right. I'm trying to juggle too many things when I should pick one goal, achieve it, then move onto the next one. I should have learnt that lesson from you when you had your vet bill and didn't stop until it was paid.

I think I'll sleep on it but I'm pretty much ruling out saving an emergency fund for now. If I have an emergency, which I hope I haven't just jinxed myself, I'll have to put it on the CC. Winging it a bit

Thanks for your input

crazy_cat_lady

I'd forgotten all about the vet bill - which is weird as it was only a couple of months ago :rotfl: It is amazing what we can do when we get our heads down isn't it?

catriona79

Orange_Ena wrote: »

Well I wanted to explore every option. I think I'll stick with the surveys for now :rotfl::D

Oh I think the £280 ish profit from lodgers will definitely soften the blow. :T I've been looking at armchairs today, to go in the corner of my bedroom. If i'm going to be hanging out in my room I best not been sitting on my bed all the time.....I'll fall asleep too easily!

Wow - armchair is a cool idea, also a chaise! Mmmmm... I think I'd fall alsleep in one of those though!

You have been so focus and consistent ever since the beginning. So cool! A great source of positivity for me.

catriona79

Orange_Ena wrote: »

I'm currently sitting in the dark in my bedroom avoiding the trick or treaters :shhh: I haven't bought any stuff so they're bound to knock the door! When I've bought sweets in previous years and been all organised nobody has knocked :rotfl::p Happy Halloween :beer:

(...)

I still feel a bit overwhelmed and mopey but I'm totally blaming work for that I keep getting a bit distracted with what I'm doing and where I should be targeting my money. One one hand, I'm desperately wanting my debt gone and wanting to throw every spare penny at it so I can quit my job. And then I'm trying to save to get my house updated a bit and the spare room sorted so I can get a lodger in to get me to goal quicker. And then I have thoughts of getting a £1000 EF together which is about a sixth of my debt!

But now, what I'm actually doing, is living within my means and budgeting properly by putting away bits in little savings accounts like a proper grown up........but my debt isn't going down quick enough!

I've got that £140 in my overpayments account but for some reason I'm hanging on to it. I don't know what to do! I feel like I'm spreading my money a bit thin and perhaps I should just concentrate on one thing. Most of my debt is on 0% but there's about £600 that isn't so maybe I should concentrate on that first. Or maybe get the house sorted so the lodger money can roll in.

Arrgh I'm driving myself mad! :eek: Answers on a postcard...........:D

Hello Ena,

Just wanted to post in response to that, as you hardly ever let us know that you're feeling mopey and usually you're bright and cheery and full of optimism. You're always a source of inspiration for me!

Hope that the low feelings pass; I find that mindfulness and (effectively) a good distraction always works. A good distraction for me from money worries was always planning and budgeting for income increase and a decrease in spending.

Obviously the old adage is that to have more money you can spend less or earn more. Spending less is the slow route and earning more is usually the faster one. You are already doing the penny watching very well and hold yourself to account, so you know you are financially trustworthy and responsible. You've been doing that consistently for long enough to prove that.
Increasing your income - you're doing fantastically well at that through your surveys. You could perhaps do overtime (if you can in your line of work), but you don't like your job, I'm guessing that's not a preferred choice. This also involves increasing your level of tiredness and less time spent on doing the things you enjoy. The lodger solution is one that would bring in the income for effectively not doing anything. You already have the money making vehicle (your spare bedroom).

If it was me, I would rent out my spare bedroom. You seem to really not enjoy your job to the point that I think having a lodger at £3360 a year (tax free) and thus shaving a year off the time spent in the job is better for your wellbeing, provided that you choose your lodger well.

But, it's not only down to those factors, it's also how you feel about (a) change and (b) risk.

What I would do is get a list done with everything that needs updating before you rent out the spare bed and see what the cost is of doing that. Paint is cheap, and you could paint yourself (I did, it was fun and gave me a sense of achievement), the radiators are done and you also mentioned carpets. Get quotes for all the jobs that need doing. Remember that lodgers don't look after your house the way you do (I have certainly seen that here), so don't go over the top with quality carpets etc. I'm not sure how good you are at DIY, but I've laid down laminate floor before, and that's easy to keep clean (no stains like on carpets, no need for Rug Doctor inbetween lodgers and better for problems with dust/allergies), maybe that's an option? It could potentially be a really cheap option. All you would need is to rent out an electric saw. It's so easy! (Might need a pack of biscuits too!) you could get a room done in 3 hours easily. Have a look at some YouTube videos. Then you'd need to carpet the remaining areas, like the stairs etc.
The floors and newly painted walls will transform your house - I know what a metamorphosis it was here!

Would you need any furniture? IKEA do a good range of cheap wardrobes and chests of drawers, I got the wardrobe for my lodger for £80 and a chest of drawers for £50. Equally you could go for some cool pieces from antiques barns, for pennies. You might even be lucky, like I was when my lodger said she had her own bed that she wanted to bring over - I would in fact wait with buying any furniture at all until you've chosen the person.
If you've already got some furniture, that's even better!

Then, when you have the cost of the house maintenance down on paper, you'll be able to make an informed decision.

Savings pot / emergency fund.
I think this is important, and especially important if having it calms your nerves. I know I feel much safer in myself now that I have the ability to save. Obviously having a savings pot of £1k will take time and will be slower on your current income alone. If you did take a lodger in, you could save that in 3 months, but in the mean time you will need to cope with not having the savings and perhaps having an increased debt (albeit temporarily). So it's a matter of your personal tolerance of risk.

To me, you can't take that decision reliably without knowing the outlay on the house repairs, I.e. How much more debt you need to take on in order to start bringing in the lodger income.

There are no objectively bad or good moves here and you have clearly thought about this. It's all a matter of personal preference and appetite for risk. You need to be comfortable with the decision you reach.

Additionally, humans have a bias towards the current state / aversion to change. This is perfectly normal, and something you need to be aware of; after all you don't want to end up with more money but desperately unhappy because there is a stranger in your home, or because you haven't got an EF.

You come across as a thoughtful planner. Get all your info together and then look at your timescales with both options, i.e.

Emergency pot -> saving up for house repairs --> doing the house up and renting out the room
Do up the house on credit --> rent out the room --> save for emergencies

And think of how you are going to feel with both of those.

I have no doubt that you will get where you want to be, and know that you will choose the right option for you. I'll be cheering you on from here!!!! X

Orange_Ena

catriona79 wrote: »

Wow - armchair is a cool idea, also a chaise! Mmmmm... I think I'd fall alsleep in one of those though!

You have been so focus and consistent ever since the beginning. So cool! A great source of positivity for me.

A chaise sounds far too glamorous for me, and I'd definitely fall asleep too.

Ah thanks Catriona

Orange_Ena

catriona79 wrote: »

Hello Ena,

Just wanted to post in response to that, as you hardly ever let us know that you're feeling mopey and usually you're bright and cheery and full of optimism. You're always a source of inspiration for me!

Hope that the low feelings pass; I find that mindfulness and (effectively) a good distraction always works. A good distraction for me from money worries was always planning and budgeting for income increase and a decrease in spending.

Obviously the old adage is that to have more money you can spend less or earn more. Spending less is the slow route and earning more is usually the faster one. You are already doing the penny watching very well and hold yourself to account, so you know you are financially trustworthy and responsible. You've been doing that consistently for long enough to prove that.
Increasing your income - you're doing fantastically well at that through your surveys. You could perhaps do overtime (if you can in your line of work), but you don't like your job, I'm guessing that's not a preferred choice. This also involves increasing your level of tiredness and less time spent on doing the things you enjoy. The lodger solution is one that would bring in the income for effectively not doing anything. You already have the money making vehicle (your spare bedroom).

If it was me, I would rent out my spare bedroom. You seem to really not enjoy your job to the point that I think having a lodger at £3360 a year (tax free) and thus shaving a year off the time spent in the job is better for your wellbeing, provided that you choose your lodger well.

But, it's not only down to those factors, it's also how you feel about (a) change and (b) risk.

What I would do is get a list done with everything that needs updating before you rent out the spare bed and see what the cost is of doing that. Paint is cheap, and you could paint yourself (I did, it was fun and gave me a sense of achievement), the radiators are done and you also mentioned carpets. Get quotes for all the jobs that need doing. Remember that lodgers don't look after your house the way you do (I have certainly seen that here), so don't go over the top with quality carpets etc. I'm not sure how good you are at DIY, but I've laid down laminate floor before, and that's easy to keep clean (no stains like on carpets, no need for Rug Doctor inbetween lodgers and better for problems with dust/allergies), maybe that's an option? It could potentially be a really cheap option. All you would need is to rent out an electric saw. It's so easy! (Might need a pack of biscuits too!) you could get a room done in 3 hours easily. Have a look at some YouTube videos. Then you'd need to carpet the remaining areas, like the stairs etc.
The floors and newly painted walls will transform your house - I know what a metamorphosis it was here!

Would you need any furniture? IKEA do a good range of cheap wardrobes and chests of drawers, I got the wardrobe for my lodger for £80 and a chest of drawers for £50. Equally you could go for some cool pieces from antiques barns, for pennies. You might even be lucky, like I was when my lodger said she had her own bed that she wanted to bring over - I would in fact wait with buying any furniture at all until you've chosen the person.
If you've already got some furniture, that's even better!

Then, when you have the cost of the house maintenance down on paper, you'll be able to make an informed decision.

Savings pot / emergency fund.
I think this is important, and especially important if having it calms your nerves. I know I feel much safer in myself now that I have the ability to save. Obviously having a savings pot of £1k will take time and will be slower on your current income alone. If you did take a lodger in, you could save that in 3 months, but in the mean time you will need to cope with not having the savings and perhaps having an increased debt (albeit temporarily). So it's a matter of your personal tolerance of risk.

To me, you can't take that decision reliably without knowing the outlay on the house repairs, I.e. How much more debt you need to take on in order to start bringing in the lodger income.

There are no objectively bad or good moves here and you have clearly thought about this. It's all a matter of personal preference and appetite for risk. You need to be comfortable with the decision you reach.

Additionally, humans have a bias towards the current state / aversion to change. This is perfectly normal, and something you need to be aware of; after all you don't want to end up with more money but desperately unhappy because there is a stranger in your home, or because you haven't got an EF.

You come across as a thoughtful planner. Get all your info together and then look at your timescales with both options, i.e.

Emergency pot -> saving up for house repairs --> doing the house up and renting out the room
Do up the house on credit --> rent out the room --> save for emergencies

And think of how you are going to feel with both of those.

I have no doubt that you will get where you want to be, and know that you will choose the right option for you. I'll be cheering you on from here!!!! X

Catriona, thank you so much for this post. The things you've said have been things I've really been thinking about in the last few days. I do feel focused on the money saving and extra earnings via surveys and eb@y etc, I'm all over that like a rash, but I've got distracted on the targets which has lead to being overwhelmed. Over the weekend, I very hurriedly decided that my focus would be to get the house ready for a lodger. I say hurriedly, but its been on my radar as one of my targets, its just the decision was made very quickly. Like you say, getting a lodger is an opportunity and I've got to grab it. So that's it, full steam ahead on project lodger.

I've got the radiators being changed next week. I've made enquiries for new doors upstairs that have locks and a cat flap in my bedroom door. I hate decorating but I do know a reasonably priced trustworthy decorator who had given me a quote for the spare room 2 years ago. All I'd need then is a blind or curtains. The carpet will have to do for now. I have a bed and a clothes rail but I'd wait for the right person and buy what they'd want as it's not the biggest room. I would buy a wardrobe, desk or drawers or whatever combination they'd want. Thankfully I already had a TV aerial fitted when the switchover thing happened. We'll be good to go then! I'll be aiming for end of January at the latest. I feel better for making this decision and it's given me hope that my job will be jacked in as soon as is possible. :T

I applaud you for doing your own laminate, that's absolutely amazing. Really impressed. I definitely think is be hopeless if my school CDT lessons are anything to go by. I blame my poor sawing skills on being left handed! :rotfl:

Getting an emergency fund is on my mind and once a lodger is installed, I hope to save for that asap, or at least save half towards an EF and half to debts. But maybe I'll cross that bridge when I come to it. Part of me is worried that no one will want to move in, or that a lodger will last one night and run screaming when they find me on the loo cause I've forgotten to shut the door as I've lived on my own for so long :rotfl::D But I won't know if I don't try. And then I think to myself, well, the house would need doing if I end up putting it on the market anyway, and at least the money is invested in the house and not been used for a cruise or something ;) I've definitely justified it now

Sorry for waffling but I definitely feel like this is the right move now and wanted to get all my thoughts down now before I forget or change my mind! So a note to myself.......focus on the lodger, do not sway from this, you hate your job, this is the way forward! :rotfl:

Thanks again Catriona, very much appreciated x

Orange_Ena

Over the hump now, both day wise and mood wise

Sunday
* NSD
* PA survey
* 75SB earned
* 6 of my 12 eb@y items finished with total sales of £21.89 so it will hopefully be around £14 once fees are taken. I'll relist the other 6 items in the week.

Monday
* £2.80 for lunch
* £12.01 for fuel. It was 7p a litre more expensive than my usual place so I only bought a bit :eek:
* £14.59 for 5 eb@y parcels at the PO and the money withdrawn from payp@l straight away
* £1.50 at the chippy as I was late home and couldn't be bothered to cook
* PA survey
* 120SB earned and a monthly goal bonus of 290SB received. I've claimed a £10 Am@zon voucher and have carried over 43SB, and then got a 100SB bonus swag up thingy for redeeming a voucher! Giving it away! :rotfl::T
!* £3.59 account sweep into overpayments account

Tuesday
* £30.05 for fuel, 7p a litre cheaper than yesterday's garage :money:
* £24.58 for groceries and receipt scanned on checkoutsm@rt
* Youg0v survey
* VO survey
* 120SB earned
* £1.60 account sweep into overpayments account

Today
* £15.29 on a few groceries and some small presents for Christmas and receipt scanned on checkoutsm@rt
* £3.90 on postage for an eb@y parcel and paid myself back from payp@l
* £13.43 eb@y profit withdrawn and transferred to my overpayments account
* £1.27 sweep into overpayments account
* Pinec0ne survey completed and my £15 account balance redeemed and will be paid into payp@l in the next few days
* 155SB earned

Now that I've decided to get my spare room and some other bits upstairs sorted I do feel better, and I'm glad that I hung on to the money in my overpayments account. I've added a few bits and it now stands at just under £160. Even though I had the £500 bank transfer from my CC, I've decided to put the radiators on the CC now and use that cash for my new doors, to get it decorated and furnished, and a blind and/or curtains. There's 5 doors to be changed while I'm at it, and it will cost £315. Decorating will be about £200 plus paint and/or wallpaper. A cheap blind and furniture and I should just be able to do it for £660. Hopefully I'll recoup that in 2 or 3 months when this future lodger pays me. :T I'm trying to ignore the fact that my debt will be going to back up to what it was in July. Hopefully only for a short time. Speculate to accumulate and all that jazz

I've got a lot of moving to do, mainly a big ike@ exp3dit unit that'll need moving into my bedroom, and all the other junk. I think my room will be quite.....er......cosy ;):)

:)