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A whole new world, for now

edited 30 November -1 at 1:00AM in Debt Free Diaries
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in_need_of_directionin_need_of_direction Forumite
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edited 30 November -1 at 1:00AM in Debt Free Diaries
So, here’s the new thread I’ve been promising myself for a few months. My old one, that served me so well, is http://forums.moneysavingexpert.com/showthread.php?t=4855808

A potted history of me. I’m 49, live in NI with OH, DD and dog and DS is London based.
Have been in debt for a lot of my life and came here post personal debt but with the aim to clear my mortgage. I believe DFD to be the right place for me as a lot of what’s outstanding on the mortgage related to consolidation of other debts. The rates were lower and I just didn’t consider the payback period.
Having been a wage slave for some 30 years, I recently jacked in my well paid and secure job for a number of reasons. While I love what I do, I hated the environment in which I did it. I regularly travelled 6 hours a day, on my own time and had to ask others to do likewise. That was the downside about caring for my clients. While I continued, and got others, to deliver at the expense of my home life, my health and my finances, the firm continued to let me. I decided that I’d sooner have some self respect than stay there. We also had an unexpected and untimely family bereavement last year which sparked the whole “life’s too short” train of thought. The downside is this is the first time since I was 17 that I don’t have an income and it’s a big adjustment.
To address this, I’ve decided to go the self employed route, for now (hence the title). One problem though is timing. We have booked a holiday in May for OH’s big birthday and I’ve decided that is set in stone. We will be travelling half way round the world for two weeks to initially see pandas and then the delights of Tokyo. We’ve only been together just over 10 years so this is really our first landmark birthday to be properly celebrated, we were still bedding in last big date.
So, work wise, I’ve created my website, taken out a separate mobile contract and opened a business bank account. I’ve also registered with HMRC to keep things tidy.
Otherwise, since being unemployed, I’ve had a parking ticket refunded, gained a free overnight stay following a complaint to a hotel that disappointed and have signed up for a new loyalty card for my local Co-Op. I also switched to a cheaper mobile service and got my boiler serviced which restored the hot water! First world pleasure that is so easy to overlook. I've donated two bikes to a local charity, done a number of strolls to offload donations to charity shop, claimed topcashback, £20 from PA, £5 swagbucks voucher and am trying to declutter. My last car went with the job so I realised what a paucity of local shops there in despite being only 15 mins by bus from the city centre.
The lack of car was proving to be an issue for family and other reasons so today we get a PCH car delivered that we have committed to for 4 years. This takes us into the realm of needing to use the mortgage off set savings to fund expenses. It also gives me a minimum level of income to achieve as eating into savings bothers me.
So, what’s the plan?
I lodged £2000 in my business bank account at the start of March and most of it is still there. By September, I’d like to have this repaid to either the savings or the mortgage or to have secured an income stream that will enable that to happen shortly thereafter. I’d also like a £1k buffer in the business account to make sure that I can take advantage of opportunities as they arise.
I have applied for a few part time consultancy type posts, been unsuccessful at interview for the first, but will actively seek out these opportunities. I’ve provided associates with my contact details but come June, I will start more actively promoting myself. I’ve sought input from my LA business support services but to little avail so far. I’ve attended a few courses and networking events and will continue with these to keep some kind of a profile and, post holiday, will be creating an event that will hopefully income generate and/or build profile.
I will continue to seek out vouchers and deals and will try to live cheaply but don’t feel I can ask this of the others in the house as giving up the job was down to me. I will also get rid of extraneous items, for cash where possible.
What I can see is that despite living semi frugally, or so I believed, we wasted A LOT! :o
Today my outstanding mortgage is £83,478.58. By 31 Dec, based on just making standard payments, this will be £78,900. My target is for this to be £75,000.
Today my available off set pot is £3,415.43. By 31 Dec, I’d like this to be at £5,500.
The truth is I’d like the first figure to be a lot lower and the second to be a lot higher but I need to start somewhere.
We still have our emergency fund intact and hopefully enough in the current account to address our living expenses shortfall at least to the year end. Spends for the holiday are ringfenced with any left overs going on extras for all.
I have to confess to having what I’ve heard described as an internal Verucca Salt! When I want it, I want it now. I need to learn some restraint both in terms of shopping and also sugar consumption. It’s weird but one thing |I really struggle with is what to have for lunch.
Anyhow, now that the car is here, I’m off to the dry cleaners and to pick up some groceries as I have a £5 voucher off a £25 shop. I may also buy a new toilet brush!
Today I am grateful for
The support I have consistently received from here :beer:

Company from the dog :j

E Mail :D
Mortgage at 01.01.14 £119,481.83:eek: today £60212.93 Offset fund today 1366.16 target £2000 by 31/12/20
Emergency fund £5.5/5.5k & £200/200 cash.:j
Weight 24/02/19 14st 7lb now 13st 5lb
determined to stop defining myself by my mistakes.
Progress not perfection.:T
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Replies

  • parsnipheadparsniphead Forumite
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    Hello:hello:
    1 debt v's 100 days chapter 34: T3sco bank CC £250/£525.24 47.59%

    [STRIKE]MBNA - [/STRIKE]GONE, [STRIKE]CAP ONE[/STRIKE] GONE, [STRIKE]YORKS BANK [/STRIKE]GONE, [STRIKE]VANQUIS[/STRIKE] GONE [STRIKE] TESCO - [/STRIKE], GONE
    TSB CARD, TSB LOAN, LLOYDS. FIVE DOWN, THREE TO GO.
  • Fortune_SmilesFortune_Smiles Forumite
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    Lovely new diary :T

    Subscribed.

    Fortune x
    Mortgage: 18% paid Overpayments 2020: 1650.47 Emergency Fund: 86% Tittervating Pot: 17.33

    All we have to decide is what to do with the time that is given to us - J R R Tolkein
  • beanieloubeanielou Forumite
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    Happy shiny new diary :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • in_need_of_directionin_need_of_direction Forumite
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    Thanks for popping in, greatly appreciated.
    Mortgage at 01.01.14 £119,481.83:eek: today £60212.93 Offset fund today 1366.16 target £2000 by 31/12/20
    Emergency fund £5.5/5.5k & £200/200 cash.:j
    Weight 24/02/19 14st 7lb now 13st 5lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.:T
  • jwiljwil Forumite
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    Happy new diary :)
    "If you can dream it, you can do it". Walt Disney
  • in_need_of_directionin_need_of_direction Forumite
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    today i delivered OH and dd to work and collected OH too. ridiculous that it's cheaper to do the journey by car than by public transport. I visited leedell and picked up reduced cod that became my dinner, reduced duck breasts for OH and other items on offer. I then went to the over the road Mr As and spent over £30. this included 3 trays of 8 burgers reduced from £8 to £3. we have a family bbq planned for last weekend in may so these have been stashed in the freezer with other reduced price items that will form the basis for a number of meals. thankfully i had only picked up a basket. if i'd had a trolley, who knows what damage I could have done.
    tomorrow we are off to our free overnight break. fingers crossed that standards will have improved
    Mortgage at 01.01.14 £119,481.83:eek: today £60212.93 Offset fund today 1366.16 target £2000 by 31/12/20
    Emergency fund £5.5/5.5k & £200/200 cash.:j
    Weight 24/02/19 14st 7lb now 13st 5lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.:T
  • beanieloubeanielou Forumite
    71.6K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Enjoy your break :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • doingitanywaydoingitanyway Forumite
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    Ninth Anniversary 1,000 Posts Name Dropper Mortgage-free Glee!
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    Great bargain buys. It's good to see you with a new diary. Have a lovely day :)
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.
  • mfmaybemfmaybe Forumite
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    Happy New Diary :j

    Adventures sound like the right thing for you; and the holiday too. Life is short, after all.

    Subscribing along for this part of the journey, too. :)
    0% card was £1126.91 / Now £1502.37

    AFD March 2/15 NSD March 2/11 :T

    Other debts paid since 1/1/14: £17,005
  • PurpleFairy26PurpleFairy26 Forumite
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    I do love a shiny new diary :D and lovely to see lots of lovely friends on your journey too. Hope the stay away was grand. Will subscribe to follow your progress. Purps.
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