Buffy and the Power of Ten

Knit_Witch

Buffy if you don't own/part own the house you are in why are you the one paying for all the upgrades etc - what happens if you get chucked out?

Buffythedebtslayer

Given that over the last few days when I do write down my goals I get to seven and think........I have missed one. And it is always the house one....I shall

1. Continue researching
2. See the financial bloke
3. Save for six months.
4. Review in June.

I can't say I don't want to own a house up north near my best friend. I do, I need some form of security....But I don't want to rush into loads of debt for a tiny return.

*Ponders*

Pooky

That's the problem with becoming a landlord, until you've cleared the loan/mortgage you've only got the equity on the property which is tied up. Any income would be used for repayments and maintenance and maybe even management if you're not close enough to deal with issues when they arise.

If your Mum were to need to go into a home the house would need to be sold to pay for her care which would leave you homeless. I think you need to investigate how you can protect yourself against this. (sorry for being blunt and no malice intended but it really does need thinking about x)

Buffythedebtslayer

It wouldn't leave me homeless, I would have to find somewhere else to rent. It would be horrible and awful but it would be doable.

Buffythedebtslayer

I know you know that Pooky, I just mean I have thought about it and do know that is what may happen.

Buffythedebtslayer

Spent the afternoon chatting to one of my friends. Feel abit of fraud - she is in serious debt and although she has a plan it will take her years.

She has no pension plan at all.

no house

no savings and about 40,000 grand of debt.


I half didn't recommend this site to for fear of her finding out about me.

And then I thought about it some more

Really?

find out what - that I have no debt? that I just got a pay rise? that I do have savings. I do have a pension.

And I never had any clue she was in so much debt.

so sad for her.

XXX

beanielou

Far too much hassle I think unless you are near by to keep an eye on it.
Just my thoughts.
I watch too many programmes about dire tennants :eek:
Also in terms of benefit changes the rent money is now paid direct to claimants & not the landlord :eek:

in_need_of_direction

What does your sig tell you?

Buffythedebtslayer

beanielou wrote: »

Far too much hassle I think unless you are near by to keep an eye on it.
Just my thoughts.
I watch too many programmes about dire tennants :eek:
Also in terms of benefit changes the rent money is now paid direct to claimants & not the landlord :eek:

in_need_of_direction wrote: »

What does your sig tell you?

Yes. Both good points. I think I shall review in six months.....but something recently has changed. It was always top of the list but isn't now.

Save Save Save!

XXX

Buffythedebtslayer

Just popping on to say good bye to 2016, you haven't been great but there has been progress for me.

I have kept my money under control
Got on better with Mum, sister and myself (if that makes sense - I mean I haven't been so hard on myself)
Work has been good - dreadfully stressful, but that is I have finally come to realise the nature of the job and I can disengage if I wish.

I did lose a dear friend who I miss greatly and my Aunt XX it was hard talking to my uncle on Christmas eve. That kind of pain. no words help.

There was the breast cancer scare and subsequent operation - I am so lucky. SO lucky. that was a bit of turn around for me really, just to let stuff and get on with what is in front of me. Plus a few things made me realise who my friends are. One friend of almost 15 years showed her true colours - funny a few of my other friends have often wondered why I bothered with her. And I think I shall bother less in 2017.

Thank you for all the support this year on the this diary and all the others. It means the world to me.

Happy New Year

All my love Buffy XXXXXX