Mr and Mrs K's New Journey to a Debt Free Life.

AlexLK

fc123 wrote: »

gosh, don't want to sound flash about 'holiday home'....but I do have to add to the thread that when we paid down our debt we got so used to allocating ££ to it so that income didn't exist...and then we saved it instead.
We didn't return to the ' must go out for dinner we deserve it' ways and I kept nearly all of our old MSE debt busting habits as they became...well normal after a while and I didn't feel life was any 'poorer' for them either. To be fair we lived like that for the 1st 10 years of married life anyway...we just forgot.

The result was that earlier this year we had to make a choice as we had saved enough to pay off most of the mortgage or 'invest' it for retirement as we have no pension at all.

As the mortgage is 0.99%, we bought a house outright to renovate in a seaside town to let out as holiday let/personal use. The slight snag is that we don't have a single penny to renovate it yet so she is locked up but if we had waited until next year she would have gone out of budget.
It's not relevant to the thread but if I go on about a moneysaving top tip it's because we are allocating ££ to something as well.......it becomes a habit

Sounds great

We have no pension plans either, I mentioned earlier on this thread I'll probably be working in some capacity 'til I drop. Mrs. K. never bothered and we wanted to some day get some BTLs on the go as a retirement fund.

fc123

AlexLK wrote: »

fc123: You (and your husband) have had a varied life, wow. Sometimes I do think I ought to get out more instead of staying within the rather sheltered world I am comfortable in.

I know I expect too much: my parents had me very late (father was 45 and mother 39) and often say they could not have provided me with half the things they did had they been younger. However, I continually to punish myself for my first career not working out and every mistake since, despite everybody telling me not everything has to work out first time.

Perhaps, this start to a new way of life should also try to incorporate less dwelling on the past and more looking to the future.

I don't think ours is more varied than most peoples really.....this whole board with all the different sections is very eye opening and you have so many different ages, types, professions...well everything.

I love posts from older people to myself as many have so much wisdom as they are the that next bit on in life.

I mean, we are 48 + 50 years old so have 18 years of life on you 2....I am sure yours will be equally as varied in the future.....to be fair, it sounds varied now.

The previous career probably wasn't suited to your natural temperament so you have done the correct thing changing before it's too late....by that it's harder to change career aged 50 than aged 32.

I know people our age with the 'perfect' lives and it's killing the man who is trapped in the job he absolutely hates but he can't get off the treadmill as how will he earn the same ££?

Off to bed now as down to Thanet tomorrow to check the empty derelict house we can't afford to do anything with for a while ...

gallygirl

AlexLK wrote: »

:rotfl::rotfl::rotfl::D Allow me to explain; Mrs. K and I keep to the budget aaaaand I get wine two days per week, it is called applying a littleself restraint, my dear. :beer:

Nope, still don't get it .

AlexLK

fc123 wrote: »

Can't say too much but we know some of the Towies well.
One did a promo for us last year and they have worn a lot of our product in the past.

Nice bunch on the whole who got very, very lucky Our accountant advises a few of them and is really trying hard to get them to be 'sensible'.

Marbella sounds OK for a holiday if it's free....your parents don't sound the type to have anything 'tacky' either. I know we have stockists in Marbella and one of my agents has a place out there but I have never been. If it was a freebie in the sun I would go and check it out.....there must be some lovely places all along the coastline to visit.

It's Mrs. K. that is not keen on Marbella, I spent my childhood summer holidays there throughout the '80's and '90's.

As for you knowing the towies ... Mrs. K. is rather green eyed at the moment, hahaha.

mum2one

Orange_Ena wrote: »

Let me at them!!! I love building flatpack I get to use my electric screwdriver which makes me feel very capable and all DIY expert :rotfl: I wouldn't do the shed though........I don't like splinters :eek::)

Is thats a date!!! Its a metal shed so no splinters! xx

AlexLK

fc123 wrote: »

I don't think ours is more varied than most peoples really.....this whole board with all the different sections is very eye opening and you have so many different ages, types, professions...well everything.

I love posts from older people to myself as many have so much wisdom as they are the that next bit on in life.

I mean, we are 48 + 50 years old so have 18 years of life on you 2....I am sure yours will be equally as varied in the future.....to be fair, it sounds varied now.

The previous career probably wasn't suited to your natural temperament so you have done the correct thing changing before it's too late....by that it's harder to change career aged 50 than aged 32.

I know people our age with the 'perfect' lives and it's killing the man who is trapped in the job he absolutely hates but he can't get off the treadmill as how will he earn the same ££?

Off to bed now as down to Thanet tomorrow to check the empty derelict house we can't afford to do anything with for a while ...

Ditto for me re. the older people

No, my previous career was not at all right for me ... I almost walked out the first week but the shame of becoming jobless at the time was too much for me to bare.:o If I'm honest with myself, I should have done the PhD I planned to do instead, maybe one day, eh?

Another thing I am taking from contributing to this board is to try and "enjoy the ride", some days this is going better than others though.

ETA: Good night.

AlexLK

gallygirl wrote: »

Nope, still don't get it .

... b-b-but ... y-you're meant to be the EXPERT, guiding me, the apprentice in this new way of money saving. :rotfl:

mum2one

one thought, its never to late to go back to studying, ok now is not the time for the financial emements - but in time.

I went back to college at 25, and did a HNC, (flunked GCSEs at school as I discovered the local nightclub), then at late 35 I enrolled with Open Uni, I've studied part time for 6 years, in theory I should have a degree, but I kept getting side tracked and found extra courses I liked, but at 40 I achieved a Foundation Degree in Business, - in time I will go back and do the full degree, but its the fees now!! The courses I did was business, finance, marketing, social sciences, economics and there was a wide range of age groups, my one tutor I stay in touch with (he's 61 and doing his PHD) theres plenty of home for you.

Glad you enjoyed the wine.

Another thought with the debts, hopefully your get the interest frozen along the line, on my DMP, I have 2 on low interest, 1 whos a pain on full interest (but thats got to go to the obsbumen), so what I do is set myself a target to pay off in a year. That way if interest gets added, I dont have to worry about adding that into the debt, as I feel (for me personally) would feel like a downer but having a target and pushing myself to beat that does a lot for my motivation. Everyone works differently, your find your own style. xx

AlexLK

mum2one: Really not the time financial or otherwise to be honest. Maybe when our son is settled in school in a few years time, I'll perhaps look at doing something scholarly with the music part time.

Wow, you ended up doing a lot of subjects!

Fingers crossed I'll have something positive to report with the debts on Monday, already feeling a bit apprehensive about those phone calls.

Orange_Ena

mum2one wrote: »

Is thats a date!!! Its a metal shed so no splinters! xx

Haha I'll get my screwdriver and my very girly DIY apron then