Doing it for Mum

Baldybear

Good afternoon (just)

So sat down with sister yesterday and we have a rough idea of what the future might bring so going ahead with the plan as we are, should be able to work out ok.

So looking at inheriting £70K. So need say £8K for debts leaves £62K, need to use minimum of £35 to pay down mortgage to sufficient level to do a transfer of equity leaving me with £27K.

Now ideally need to pay ex £22k, going to see if he will take a lump sum of £20K to clear it (I think he will agree). Of course will do the transfer of equity first and get him to sign everything all off first.

This would leave me with £7k and no debt If I can use that £7k to take the mortgage down then would leave me with a mortgage of £100K. Still high but a good target to work towards. This would leave me with a mortgage of approx £500 a month, if I include a mortgage overpayment of £50 a month in my budgeting will leave me approx £190 a month "spare" to spend on myself, going out, doing house up, general saving (doesnt include annual costs as already included those). That would be great. If I continue having the lodger would leave me with an extra £350/£400 on top of that to save.

In the meantime the plan is to keep paying of ex at £100 a month, then can offer less if I can saving pennies that way.

My debt will also go down slowly (even if just minimum payment) so that will be less as well so can save more pennies that way.

Hopefully with the above will be able to even lower my mortgage lower than £100K which would be brilliant Keeping everything crossed.

Looking at my Bcard yesterday it appears all of my balances are on 0% till feb/mar/apr 2017 so have the whole of this year to clear and make a big indent on the balance, saves me having to worry about charging interest in feb this year and having to do more balance transfers

Still for now saving for insurance goals, but with the ex and debt figure coming down, oh and of course the mortgage with the inheritance will be able to lower the figures even more, watch this space as they say.

Fresh food shop done yesterday, stacked back up high £28 spent, was more but used £7.50 of nectar points so pleased with that.

Baldybear

Good morning

First lot of survey money of the year has arrived today, £10 odd sent to insurance account, now at £313. A gift card for shopping has just been redeemed too but wont count that until it arrives, small pennies but will all help the big picture.

Am being good and not spending anything I dont have to, sorting out breakfast, lunch and dinner from stores, have plenty in so no excuse. Am trying to stay organised with the horse and home, just need to try and keep on top of everything. Lots on but good to slowly tick things of the ever present to do list. A few more forms filled out and sent back today regarding mums bits, getting there!

Chrysalis1976

Your plans are sounding good bb, I hope everything goes through smoothly and you can make some real progress to get into the position that you want to be in in terms of your house, debt and savings.

Good news on the survey redemptions and eating from home.

Hope work has been OK this week.

C x

moneyonmymindsam

Hi again - following from old diary.


Thinking of you and sorry to hear about Mum xx xx

Baldybear

Chrysalis1976 wrote: »

Your plans are sounding good bb, I hope everything goes through smoothly and you can make some real progress to get into the position that you want to be in in terms of your house, debt and savings.

Good news on the survey redemptions and eating from home.

Hope work has been OK this week.

C x

Thanks for dropping by, fingers crossed it goes ok, looks like a potential viewer on one of the houses coming round at the weekend, fingers crossed

moneyonmymindsam wrote: »

Hi again - following from old diary.


Thinking of you and sorry to hear about Mum xx xx

Thank you, hoping 2016 will be better.

Small spends due today, need some squash for work, need to buy a birthday card and cash out for said friends birthday meal tomorrow. Lunch bough in though and dinner sorted and made last night for me and dad tonight.

ScattySkewbald

Thanks BaldyBear - I've joined in the hope it'll be more fruitful than swag$ at the mo. How long does it usually take to reach £50?

Baldybear

ScattySkewbald wrote: »

Thanks BaldyBear - I've joined in the hope it'll be more fruitful than swag$ at the mo. How long does it usually take to reach £50?

Hello, thanks for joining, not usually too long, used to be rubbish but the frequency of their surveys seems to have improved, hardly ever screened out too. I also have a yougov pulse thing installed on my pc/phone, monitors some activity, doesnt get in way, earns me extra 200 points a month which really helps. Good luck and hope its ok

Baldybear

Good morning

Good weekend, some viewings on sister and dads house, few more today, fingers crossed for some offers. Went out for friends 40th saturday night, spent on budget so that was good, picked up a few bits yesterday as shopping for food with friend staying over. Am on budget but very tight, £30 odd to left until 22nd, shouldnt need to spend anything bar £5 for yard owner for weekend fees. Have plenty of food in, fuel ok so will just make do.

Expenses landed so £22 sent to insurance savings, now at £315. Car tax renewal through, £110, so will sort in next few days, so insurance fund dropping but that whats its there for

Baldybear

Good afternoon, its friday, less than 2 hrs left at work

So we have an offer on my sisters house which is great, has been accepted, now just waiting on an offer on my dads house, few more viewings this weekend, keeping everything crossed.

Spent £9 yesterday on fresh fruit bits, have £24 left in account till payday. Sold bag coal to a friend (have shed loads still from when ex ordered lots) sold at cost so £5, cheap to him, good for me went straight to Yard owner for her charge so no extras needed from bank Still have around 10 bags of coal left, so may sell another 3 or 4, still be plenty left for me for a few winters, my wood collection is still huuuge, currently burning my old garden fence, rest is free wood salvaged and random old bits of furniture cut up No pennies spent on heating the house yay

Between the family spent £300 the other day but was for a man with a van who cleared a rammed transit full of stuff from all 3 houses, included 2 broken fridge freezers, old coal bunker from mine, random bits of old furniture etc, was well worth the money and all stuff we couldnt fit in a car for a tip run, dad kindly paid Still more stuff to go to the tip eventually before moving but can do that in our cars.

This weekend got dad round for the afternoon tomorrow whilst viewings on but not much else planned, going to see if I can spend the morning tomorrow with the horse giving her a winter makeover, good groom and tidy up, havent spent as much as I would like so be nice to do. Have a to do list as long as my arm but will see what else I can achieve too.

lucielle

All sounding positive BB, I'll keep my fingers crossed.
L