Renovations and Repayments.

AlexLK

gallygirl wrote: »

Em yes, we all worked that one out :rotfl:.

Come on, a few columns in a notebook, not that taxing. If it was really simple it would be boring .

:rotfl: .

I'm OK at starting these spreadsheet type activities but I don't update them, Gally. Not sure how to get around this?

AlexLK

First £30 saved for 2016 and also not spent anything today.

Still not really sure what my goals are for this year as I don't really know what to do about my business / other commitments. My parents want me to take greater responsibility for their commitments but at the moment I'm not sure. It would mean we had more money but them constantly reminding me that I would not be in such a position by myself doesn't put me in a good place.

Ali-OK

Happy New Year and good to see the first savings of the year :T

Any way you could move the furniture business forward? Just think it'd be healthier for you to divert more away from the family one given the impact of it

hiddenshadow

Well done on the savings progress!

maman

AlexLK wrote: »

First £30 saved for 2016 and also not spent anything today.

Still not really sure what my goals are for this year as I don't really know what to do about my business / other commitments. My parents want me to take greater responsibility for their commitments but at the moment I'm not sure. It would mean we had more money but them constantly reminding me that I would not be in such a position by myself doesn't put me in a good place.

As you'd help them out in any event out of compassion because you're an excellent son then you'd just have to live with the constant reminders because that seems a nasty habit they've got into and you very rarely speak up. Presumably they want you to do it because they want to save money and maintain control by keeping the BTL business in the family and think you're capable otherwise they could just go to a managing agent. So whatever they might say it's a conscious choice. Maybe it's a conversation you should have with them. Only take it on if it's on a business footing, not charity either way. You do need to think however what your longer term goals might be. What if you decide to do a PGCE/become a teacher? How determined are you to do that? How would that fit with managing the BTL business? I'd say it wouldn't.

AlexLK

Ali-OK wrote: »

Happy New Year and good to see the first savings of the year :T

Any way you could move the furniture business forward? Just think it'd be healthier for you to divert more away from the family one given the impact of it

Thanks Ali and a Happy New Year to you.

I've decided to keep the £30 per week savings as it's a manageable amount and it is a bit of a motivator. Following being reminded that Mrs K has been saving Costa / Starbucks money (she stopped going in those places a while back ... thank goodness) we have counted £230 which would have just been spent on coffee. She's decided that it's going as an extra payment on the mortgage as her resolution is to become more sensible with the finances... I think I really do have proof she NEVER EVER wants to move in with my parents. Seriously, I'm pleased she's not telling me I need to stop spending money only for her to spend it one moment later.

The furniture business is a difficult one. I don't want to have anymore contact with my ex-business partner and there are a lot of new companies that have sprung up locally that are providing good quality at a much cheaper price. To be honest, I don't really want to carry on with the business long term and for the past 6 months or so, I've been earning more from teaching. Also willing to put more effort into that.

I do know it's not going to be long before I'm told I've no choice but to take full responsibility for my parents' commitments / business. Financially, it would make a great deal of sense to agree to take responsibility now but I just can't face my parents reminding me of the fact it's really theirs and interrogating me about how I'm spending the extra money. Over the next five years, it is the difference between us being able to pay for our son's education, properly renovate the current place and sell it for the best price. However, I suppose I've realised over this Christmas that money really doesn't make me happy and I'm not sure I want to live in my childhood home full time, in some ways I actually quite like this house.

ourcornercottage

AlexLK wrote: »

First £30 saved for 2016 and also not spent anything today.

Still not really sure what my goals are for this year as I don't really know what to do about my business / other commitments. My parents want me to take greater responsibility for their commitments but at the moment I'm not sure. It would mean we had more money but them constantly reminding me that I would not be in such a position by myself doesn't put me in a good place.

But working for your parents managing their properties is a job. Say you will do it but only if they think like it this way. Both parties see it in a professional manner as a business rather than personal relationship. From what you have said of your parents they seem like they might like the idea of this.

AlexLK wrote: »

However, I suppose I've realised over this Christmas that money really doesn't make me happy and I'm not sure I want to live in my childhood home full time, in some ways I actually quite like this house.

:T:T:T:T you are on the path to real happiness then. Good on you!

AlexLK

hiddenshadow wrote: »

Well done on the savings progress!

Thank you.

maman wrote: »

As you'd help them out in any event out of compassion because you're an excellent son then you'd just have to live with the constant reminders because that seems a nasty habit they've got into and you very rarely speak up. Presumably they want you to do it because they want to save money and maintain control by keeping the BTL business in the family and think you're capable otherwise they could just go to a managing agent. So whatever they might say it's a conscious choice. Maybe it's a conversation you should have with them. Only take it on if it's on a business footing, not charity either way. You do need to think however what your longer term goals might be. What if you decide to do a PGCE/become a teacher? How determined are you to do that? How would that fit with managing the BTL business? I'd say it wouldn't.

I suppose you're right about it. I know in the long term, I've got no other choice and that I'm being somewhat ungrateful for not just doing as they say.

The problem with taking anything on a business footing with my parents is the constant reminders of "if this weren't for us you'd be a poor failure living in a two up, two down", "look what we've done for you", jibes about wife's family not providing the same and them giving their grandson a better chance etc. etc.

At the moment I don't really have any real goals. I like the idea of giving the teaching a go and am interested enough to be revising national curriculum subjects, getting experience within schools and going along to open days but whether or not I'll make an application is another thing. To be honest, I'm quite confused about the whole thing, there are a lot of people trying to put me off it, I'm not convinced it would be a long term career as I have other things I'd like to do and a part of me is concerned it will make things extremely difficult financially if I'm not able to do anything (business wise) except the PGCE course (which is a £9,000 fee, so would completely trash any ideas of finishing the house). However, I don't want to regret not trying it in ten years time.

AlexLK

ourcornercottage wrote: »

But working for your parents managing their properties is a job. Say you will do it but only if they think like it this way. Both parties see it in a professional manner as a business rather than personal relationship. From what you have said of your parents they seem like they might like the idea of this.

:rotfl: I already have a business arrangement with my parents over some management of the properties. I can deal with the "job" and they like the idea of a business relationship but it doesn't work in practice because my father cannot stop himself. Mother is a lot easier to deal with because she can see it as business, could quite happily work with her.

ourcornercottage wrote: »

:T:T:T:T you are on the path to real happiness then. Good on you!

I do wish I had your confidence in the matter.

ourcornercottage

You do well tolerating your father. It must require the patience of a saint.