Four and a half years until the money stops!

Floxxie

Does anybody bother with insurance on their new kitchen appliances? I have signed up for £12 a month for 20 months -I haven't got the paperwork yet, but can't work out whether a couple of hundred of pounds is worth it?

Still not fully settled: I forgot how long it takes to put together flat packs and how much it costs to buy stuff! Target is to have it completed by Christmas :-)

Floxxie

Well almost 6 months later and I thought it was time to update the diary and to tackle the mortgage debt with renewed energy (well as much as I can muster as I come out of winter hibernation!).

So as from tomorrow, I shall be using my diary to record my efforts to make money. I think that if I have to admit what I have been up to via the diary, then I am more likely to do the 'work'. That is the plan anyway. Unfortunately the means of earning cash are very boring so apologies, but I must remember that a constant approach will bring results, whereas doing nothing will produce nothing

I have also joined up to the £10 a day challenge on the DFW board as well as hanging around the 'make $10 a day from Neobux' thread.

Tomorrow I shall detail where I am financially. Perhaps that will scare me enough to get on with listing stuff on the 'bay' :rotfl:

Luckyinlife

Good luck floxxie i look forward to seeing where you are with your finances currently

Floxxie

Luckyinlife wrote: »

Good luck floxxie i look forward to seeing where you are with your finances currently

Thanks Lucky. Not sure I am looking forward to it but will reveal all tomorrow.

Floxxie

Ok so here it is. A summary of my finances:

Assets:
House 1 130,000
House 2 (BTL) 220,000
Pension 1 (DB)125,000
Pension 2 (PP) 7,802
Pension 3 (DC) 17,306
Cash 1,000
S&S ISA 2,200
Zopa 950
Total 504,258

Debts:
Mortgage 1 88,113
Mortgage 2 143,000 (int. only)
Total 231,113

Aim is to build up the cash and S&S ISA. I don't pay into any of the pensions. I shall be selling the BTL in 4 years time, but need to have money to cover the mortgage payments while it sells.

Secret_Saving_Squirrel

Good luck on your journey. It is tough going it alone but you will have an immense sense of pride when you achieve your goals!

Luckyinlife

Some great figures there once youv sold btl you should be sorted :]

Im doing things on my own as well and you do have to think a lot more about stuff good luck

Floxxie

Thanks Secret and Lucky for your comments, and yes Lucky it does look like I am in a lovely position once the BTL has gone and I must keep that in mind when I have the odd panic over my financial situation.

Currently I have no plans to stay where I am. My perfect plan is to purchase a piece of land and build a lovely little house that doesn't cost a fortune to run, and to grow and raise any crops, plants and animals that can prosper in the wettest place I have ever known And that little plan will set me back about £250k with no hopes of getting a mortgage.

My mortgage deal runs out next June and I would like to see how much I can raise from cutting back, eating healthily, earning online selling the rest of our carp by then.

Perhaps in a few weeks, I shall find out how to do an SOA and show you how I need several miracles and lots of hard work to happen to hit the MFiT target :rotfl:

Thanks for passing by...

selloptape

brilliant assets floxxie! I'm sure you will be mortgage free in no time

Floxxie

Thanks sellotape. I can see that on paper, I look quite ok although with no employable income I shall have to do something major to become mortgage free..or win the lottery (which I don't do!).

So issues I have to deal with:
1) no employable income and never likely to be any (children, jobs requiring ridiculous qualifications for entry level, distance)
2) children: I have three boys, the eldest is the hardest one to deal with as he thinks he should receive a salary as monthly pocket money. He doesn't want to work for the money but will use sob stories, tantrums..you name it. He hasn't been brought up this way but I fear for him and his financial future. He does not agree with me trying to save to pay off the mortgage. I really hope it is a teenager thing although it is very hard dealing with him as a single parent.
3) not enough time in the day to do everything

Ok, that's the negative stuff out of the way...