Diary of a home owner wannabe (my 6 year journey)

Peonie

Wow, I really think I'm going to be a harsh parent. At 18 they can get the bus or train. I won't be buying them a car. I definitely agree with kids paying for their own insurance.

But I was not bothered about driving, passed my test at 23, started driving at 24, was given my mums old banger and paid for my own insurance.

edinburgher

Same here Peonie, although I passed at 30! Already looking for a way to get rid of our car, driving is not fun :eek:

pennyforthepot

There is no way on this earth I am paying for insurance - life's lessons can be hard but young people need to learn them. Not only that - with 4 kids I would have to do the same for them all - I could almost buy a flat for that! I do have a friend (very dear friend) who has 9 kids and as each one reaches that age they get bought a car and insurance :eek::eek::eek:

(NSD, fruit/veg and water targets going well - decluttering not so well only because I haven't had the time to rummage around - will do a weeks worth at the weekend)

PFTP x

Dobbibill

I have to admit I am guilty of the car purchases, as you can see from my signature I am aiming for DS3's car & insurance. I have already done this twice previously for DS1 & DS2. It is our final gift. Although it is called their 18th birthday gift the rules are that they get it at this time if they are working and sustain any maintenance required. Myself & DH save half each for it hence my target being £1250. This is the maximum budget and not a penny more, so it's a bargain I look for and also if their employment status means they cannot have it at 18 then they wait which goes in the favour of the insurance being cheaper as they have had their licence x amount of time longer. I've got a realistic timescale for these savings though as DS3 is going to uni and will not get his car until summer '15 at the earliest and then only if he has a job to support this.
I know this is not very MSE but I have told my boys about budgeting for years, I don't buy bits here and there throughout the year as they have had a weekly allowance for years and been told, if they want something they budget for it.......gifts are due at Christmas & Birthdays only

Peonie

Donnie, I like that your boys still have to take responsibility financially. And I'm behind gifts are only at Christmas and birthdays. Don't get me wrong, we still got a bucket and spade and a lilo on a beach holiday but we did not get given whatever we wanted when we wanted it. That's not good for the kids or the parents. I wonder how many adults are in debt because they still expect to get everything they want because they did as children?

Dobbibill

This is very true, if you have everything, you appreciate nothing and being spoilt could easily lead to debt. I think laying the foundation rule that they cannot have it until they are working and have the money to maintain it is very important as I wouldn't give them a gift to cause a one way ticket to debt. I have tried to educate them on the long term affordability of a car.
If DS3 is unable to get a job or a job that is sufficient to maintain his vehicle he knows he will just have to wait. The basic rules are made very clear, if you want something you have to work for it (whether that's the purchase or the maintenance)


DB

pennyforthepot

Dobbibill wrote: »

This is very true, if you have everything, you appreciate nothing and being spoilt could easily lead to debt. I think laying the foundation rule that they cannot have it until they are working and have the money to maintain it is very important as I wouldn't give them a gift to cause a one way ticket to debt. I have tried to educate them on the long term affordability of a car.
If DS3 is unable to get a job or a job that is sufficient to maintain his vehicle he knows he will just have to wait. The basic rules are made very clear, if you want something you have to work for it (whether that's the purchase or the maintenance)


DB

Well put DB -my sentiments exactly

PFTP x

pennyforthepot

.... and talking of cars...

Crappy day yesterday as my car broke down outside SILs house. Some how I had managed to wipe the transmitter code off the key fob as I swiped the the house alarm with the wand that was attached to my key ring with my car keys on it. Well thats what I am assuming. Called out RAC where the guy (lovely though he was) spent an hour twiddling the the key fob in and out of the ignition when it was quite clear it wasn't going to work. He was unable to tow me home because the steering lock was on and the car was in such a position that it would be impossible to get it out. He kindly (!) dropped me off at the station where I took 2 trains and 2 tubes and 2 hours to get home and a large bottle of wine to compensate :eek:Woke up with a hangover only to repeat the journey at 7am this morning with the spare key which started the car perfectly.Total cost: £40 trainfare, £10 bottle of wine, £30 on takeaway pizza for tea as I was too knackered to cook and £160 new key fob :eek::eek::eek: With that and the £105 for the puncture last month it will soon be costing me more to decorate SIL house than I earn!
... and there I was hoping for a frugal June

I have a weeks worth of washing to do, a school fair tombola to run and a gaggle of girls sleeping over tonight - wish me luck

PFTP x

Secret_Saving_Squirrel

You poor thing, I really hate that sort of expenditure, as you get absolutely nothing out of it.

Squirrel x

Dobbibill

PFTP


ah no......it's harsh when you are aiming for a goal and hiccups crop up...like car repairs!
I totally understand the pizza and wine as a consequential cost after all that travelling to get home. well deserved I must say!
Hope the sleep over with the gaggling girls went well along with all the other tasks you had set. You washing really sounds like mine.......family laundry baskets seem to be forever full to overflowing......where does it all come from???


DB