The Travelling Fund; £10,000 in 10 months!!!

oldestgnome

Glad to hear your bike has moved to a fab new home, there will be other bikes, it is for the right reason


I work for the public sector who are reasonably sabbatical friendly. I was going to resign if they didn't give me it and they knew that so I was in a good position!


I have 9 weeks left (and counting!) before heading off to South America, not really excited yet as it doesn't feel real, I am doing all the practical preparation stuff and trying to get my team sorted at work... I'm 34.


Killerpeaty - happy holidays!!

Olivia-Louise_2

Another lurker that would love your blog

Never brave enough to post but need to step out so I don't miss the blog

Mich81

NinjaSavingKat wrote: »

Ugh! This makes it so much easier to understand - bet you sat chuckling at my few "trying to figure out tax refund" posts. :rotfl:..yes this makes things a lot easier to understand so thank you very much. I appreciate it as I am sure everyone else will.

I am glad you have lurked and especially surfaced to say hello - always great to meet (:)) new folk. Thank you for saying you are in awe - sometimes I think it might not be enough or perhaps there have been so many other people before me that have done the same it might not be that fascinating - but I don't want you to be jealous... would you ever considerate it yourself?

Dare you tell us a bit more about yourself..?:o

Tax is confusing to most people - but basically when people say you get £10k a year before paying tax, they don't explain you don't get it all in one go, but rather spread over every week / month you're paid over the Tax Year. Once you grasp that it's not that difficult for most of us Basic Rate Tax Payers!

Hmmm let me see, I'm in debt of course, but thanks to getting to the age where most people have kids and / or are getting married my social life has taken a nosedive, and I still live with my mum (which is sad at my age apparently :rotfl:) so I get to pay £600-£700 a month off my debts. Just cleared and closed my Barclaycard as it's payday so that was a nice feeling!

Will be down to £6219 after all todays payments have cleared so travelling isn't something I can consider for a while yet unfortunately. I am however contemplating saving a nest egg once I'm debt free, then taking on contract work - ideally Maternity Cover - then I can spend 2-3 months of the year visiting exciting places. That's the dream anyway :T

Mich81

oldestgnome wrote: »

Mich81 - your explanation makes perfect sense - I am taking unpaid leave across two tax years for a few months either side of April, I won't have a p45, do you know if I would complete a p85 prior to going or on my return when I have my p60 for 14/15 then 15/16?

Hmmm that is a tad more difficult to be honest, any form such as a P50 would need an accompanying P45 to prove that you're not working at the moment, and to confirm the figures you have been paid / tax paid for the tax year.

You could speak to your payroll department, and ask them to include you when the payroll is processed but with a zero gross figure, this would force a tax refund of approx £166 each month (£833*20%) assuming you have a 1000L Tax Code - this will show on your payslip. Otherwise you'll need to wait until you get your P60 at the end of the Tax Year.

PM me if you need anymore help :beer:

CEW

Hi KAT,

Please PM me your blog name when you are ready.

I am really looking forward to following your travels. I can imagine how excited you are getting as the time gets nearer.

Enjoy the time at home with Mummy and Daddy (and puddy tat of course) and then the world is yours to explore.

Chez x

apple_muncher

I too should like to be among the honoured ones who follow your travels Kat. xx

allybee101

Awww, withdrawal pangs! Absolutely the right thing to sell at the moment for a bigger and better cause, instead of it sitting in storage getting rusty. It will have a new lease of life, and you will find another bike when the timing is right for you (even if this one held a special place in your heart).
After a rather rubbish week I'm too tempted to chuck it all in and disappear off travelling and low stress work. However this too will pass, and I have the next 15 months of my life 'sort of' planned out by a special trip next Autumn and a wonderful friend's wedding.

Buffythedebtslayer

Suddenly thought the other day that you would be off soon, and wanted to wish you luck and love before you go. I hope you have a really wonderful time


Take very good care of yourself ok!


Buffy

shyspender

Hi Kat

Would love the name of your blog too if that's ok.

I look forward to following your MSE travelling adventure!

shy

liltdiddylilt

Awww Kat it sounds like Hercules has gone to the best home he could have. Lets face it he needed a lot of TLC to keep him going, and you spent a lot on him. So maybe the post travelling plan is to save up and get a lovely new bike!! Meanwhile you can spend the money you got for him on roaming the world.. Perfect trade!

Thanks for the PM.

oldestgnome Thank you! Jellytot is my shining star. Although she is currently wiping her runny nose on my bedspread... :eek: I can't keep up!

Mich I am so glad I am not the only one working in a 'you should know better' field, and in debt (or out of it as I am finally!) Good luck on paying off that debt. Will be gone in no time with the disposable income you can throw at it!