The impossible dream

Tahlullah

Thanks TG. Having just been pushed and made to think about what I said by ACE, I am not sure that I am beyond retraining. But, going back into Welfare Rights and Employment law is still a restricted field. But I can always go back to generalist advising, would just have to hope a vacancy came up. Yes, volunteering is the way forward.

Thanks for the support and good wishes.

Tx

Tahlullah

Hello ACE. Thanks for pushing me to explain. In order to answer you, I had to think. And then once I started thinking, I had to get the calculator out. And once the calculator came out, I realised I was being a Drama Queen.

Yes, when everything goes pear shaped, I will still be able to keep the offset mortgage, I just have to treat it like a P&I until I am able to get back on my feet and then begin repaying as normal. Or not. I could choose to just pay the interest and not touch the balance until the end of the mortgage period and then sell the house to repay, but it's unlikely to come to that.

If I chose to treat my outstanding balance as a P&I, the repayments on a monthly basis are so low, it's unbelievable and very affordable, at the moment. What I will think when I have no income is another matter, but currently, I may be able to make this work.

I will still need a job, but the next thing to calculate is how much will I really need to earn to be able to pay my bills.

Hard times ahead.

Tahlullah

Thank you ShangaiJimmy for the supportive comments.

Tx

TallGirl

Agree welfare rights and employment are restricted fields but you have at least got two not just one field and they are very connected. I've seen plenty of posts in membership organisations (unions) maybe that would work again like me look at grant givers that seems to be where the money is. Another tip from me start networking now and go to the meetings and forums you normally don't go to as you only have time but they are useful in terms of refreshing knowledge and meeting people who might be useful.

Offset mortgages are great very flexible yes you still have to work but your overpayments in the last means you've kind of paid ahead and take take a step back work situation is back on track.

armchairexpert

Oh I'm glad I was helpful rather than just pushy! If only we could be of use in the employment situation. There, I can only offer support.

Tahlullah

Thank you for the kind words and thoughts, they really are appreciated.

However, my new work bag arrived yesterday and it's too small! Not wide enough at the opening to take a ring binder. Pah, so sending it back today. Still need a new bag.

To buy the exact bag I bought 9 years ago ( I know! Shock it's still available, but it is.) will now cost me £107 plus postage. Well, as much as I think it would be worth it, because the quality is outstanding used every day (bar weekends) for 9 years, I think its good going; I just can't justify over £100 on a work bag. So, will keep scouting around until I get something just as good for a quarter of the price.

Went out for lunch yesterday with a friend and she bought. Very nice. Didn't need dinner as I was still full from lunch, so money saving twice in one day.

First day driving to work this week, have been walking to save fuel, so a bit more money saving there. Did anyone notice that I wasn't cycling in? Hmm, I am going to have to address that at some point! Otherwise, that was a waste of money.

Tahlullah

Well, the Big Debt has just crawled back out of the woodwork. Will have an idea of what is happening shortly, think its a hearing to see how to proceed. I won't need to be in attendance.

Was just reading some of the debt free diaries. Puts my issue into perspective. I am not in debt outside my mortgage, yet. I have enough money to pay the bills and then some. I am in a (relatively) secure job. I am not bitter and twisted by this and whatever the outcome, can afford it. All I have to do is accept that I am not going to be mortgage free when I want to be, because I will be borrowing down.

How lucky am I that I can even do that?

greent

Tahlullah wrote: »

To buy the exact bag I bought 9 years ago ( I know! Shock it's still available, but it is.) will now cost me £107 plus postage. Well, as much as I think it would be worth it, because the quality is outstanding used every day (bar weekends) for 9 years, I think its good going; I just can't justify over £100 on a work bag. So, will keep scouting around until I get something just as good for a quarter of the price.

.

Would you think £12.50/ year on a bag is acceptable? - that's what it works out at. Would a £30 bag last more than 2 years for work? If the bag is that good and it lasts that well and works for you size-wise and comfort-wise, is it not worth the investment?
jm2p
x

Welshlassie

Sorry to hear this has arrived. At least you are in a position that you can use all you have learnt from paying down the mortgage to focus on the debt. YNAB will see you through it all.

armchairexpert

I'm sorry I missed your last update, Tallulah! I hope the hearing goes your way and it can be put to rest, and in the meantime you're doing a great job of keeping things in perspective.