Spend Nowt, Buy Nowt, Owe Nowt

XSpender

I'm feeling much better thank you I've had a crazy week with lots of driving. 3 full on days in NI next week then 2 days off with DS :j

We haven't spent much at all this week although DH has bought a couple of lunches when I have been away/not very well and he and DS had a takeaway once this week (£6.50 for the 2 of them).

This weekend should be low spend too as we only need a small food shop and enough for a drink and snack when DS & DH are at an event.

DH has sold another item on a local FB page so that will be £20 towards the roof loan We have several other similar items so DH is going to stick these on FB too. We still have the DVDs and another electrical item to sell next month when we go into the city. We should get about £60 for these.

Repayment pot for roof loan will be at £921.18 if buyer turns up at weekend.

DS and I finally joined the volunteer ran village library yesterday. It's small and you wouldn't be able to find something specific I don't think but there was a good selection and we both found a few we liked.

DPIL have bought DS a new school coat. They are obsessed with coats. DFIL could wear a different one every day for a month and still have a few spare :rotfl:

I really need to clean the house this weekend as it hasn't had a good going over for 2 weeks:eek: Not sure what I will do with myself on Saturday afternoon/evening when DH and DS are out as I don't think it's ever happened before.

XSpender

I've been away with work so have neglected to update my diary for the last week.

The buyer didn't show up so nothing added to the roof pot.

I have had the last 2 days off with DS but have been so shattered we haven't done much except have breakfast out yesterday, ran an errand for DH, been to Aldeee and walk the dog. We are meeting up with DM and Step-D for lunch on Sunday although DS isn't happy to be missing a match.

I have swallowed a big frog and contacted all the companies I have pensions with (5) to ensure they have my updated address and the oldest, and 2nd smallest, is going to send me an up to date statement as the most up-to-date balance I have is from 1996 :eek::rotfl:

I really don't understand pensions and worry that we won't have enough to live on when we retire. DH has only had a pension since they brought in auto-enrolment. I know, crazy fool giving up free money, but he did not have very good guidance at home.

I spoke to my DM today and was telling her about updating the pensions and that I don't think they add up to much and she shared what her and my Step-D's annual income is. I was surprised at how much lower it was than I expected as they have a great retirement; lots of activities, 2 holidays per year (1 UK and 1 Europe), run a car, buy clothes and do home repairs and improvements as required and appear careful rather than super frugal. Their house is paid for. Maybe there is hope for me and DH after all, we do have another 18 years to state pension date and neither of us wants to retire particularly early.

I have done the last 'big' shop of the month today and have spent £100 less than we usually do in an average month. There is still plenty of food in the freezer and we have not felt like we have cut certain foods out or deprived ourselves. I hope we can keep this level of spend going and even drop it another £50 .:money:

We have a mouse/mice! :eek: We had seen some evidence and then DH saw one of the little critters earlier in the week. We will be paying a visit to B&Q to see what they have in the way of hole-blocker-up-ers and deterrents. I am too squeamish to use traps and the dog may ingest any poison put down.

Honeysucklelou2

You can get humane traps that trap the mouse rather than kill it. The mouse can then be released. You may find your dog will be a good deterrent. Our dogs are the first alert if any rodents are around ( hazard of living surrounded by fields!)

XSpender

Honeysucklelou2 wrote: »

You can get humane traps that trap the mouse rather than kill it. The mouse can then be released. You may find your dog will be a good deterrent. Our dogs are the first alert if any rodents are around ( hazard of living surrounded by fields!)

The dog (a JRT) has been sniffing behind the furniture where DH saw the mouse so hopefully has frightened it off. I haven't seen any droppings since Wednesday and nothing in the cupboards has been nibbled. I will look out for the humane traps, I don't mind the little critters when they are alive!

We live across the road from fields and woodland on the edge of a village where most of the houses have massive gardens so I am surprised it's the first one we have seen since we moved in 3 years ago.

Suffolk_lass

If you have seen a mouse, it almost certainly means you have more than one. With a pet, you need bait boxes, so that the animal enters the bait box, consumes the poison and leaves, going away it dies. The best way is to pay for a rodent catcher as they will keep baiting until all evidence of activity has stopped. Not sure if you read my diary but we have had rats this year, in the roof of our extension, and in the timber framed wall between the house and the extension. The "advantage" of rats is that they take it back to the nest and if they die there, they are cannibals so the poison keeps on giving IYSWIM. You must take action. Two things.

1. They like the insulation around your electric cables so if you leave it you could have a fire hazard
2. They have no bladder control - so in other words, they contaminate as they move around - and if they get to a food source you must write it off.

Sorry for such a miserable post but you must take it seriously and if you can cover the cost of a professional it is worth every penny.

Separately on Pensions - Really well done for getting an up to date position. I urge you to understand if your previous pension pots are defined benefit (based on your earnings at the employer, that you and they contribute to normally) or defined contribution (a pot of actual money that you and your employer contribute to. You might also have a SIPP - self invested personal pension - like an ISA but with tax restrictions on drawing money out (normally only you contribute to this but you do get tax relief on your contributions)

I have just stopped work (this month) - I spent ten years making sure we could afford it, increasing provision, and checking what we have. - While you are checking, you both need to do a state pension check - very simple tool on Gov.uk here. I am just over five years from SPA (State Pension Age). Luckily my occupational pension is covering my income, topped up with bits and pieces of capital. The mortgage is my big ongoing thing as we still have a lump to go (a whole other story!).

As part of our planning (and correlating with your parents' living expenses for a good life), I also did a budget that set out the costs of all the things we spend on (down to pet food, vet trips, even newspapers and magazines, as well as the household stuff) - it was how I realised how much we were spending and started to take more seriously, our saving money on outgoings, as well as saving for emergencies and our future. As you get older, you might want to finish a bit earlier for health, energy or fun reasons so having that pot to fall back on becomes more important. If you stay fit and healthy, it isn't a problem, but none of us know if this will always be the case. The loss of a close friend completely changed my outlook. Funding the gap between stopping work and getting your pension (if you have one to get later) is called FIRE - Financial Independence, Retire Early. Loads of blogs and threads if you are interested.

Feel free to message me if you want some things to think about (I am not qualified to advise but am in it so may be able to explain bits or help)

XSpender

Rats! :eek: We are going to get some bait thingies from B&Q this morning and I have made enquiries with a couple of pest control places for a quote. If the price is reasonable we will use some of the roof repayment pot to cover it.

Thanks for the information on pensions Suffolklass and your offer to PM. I know my biggest pensions is a PIP (whatever that is) but will look at the paperwork. I had checked our eligibility for the state pension a few months back and we will both receive a full pension if DH works for another year and I work for another 5.

I am conscious that we have a big mortgage that will need paying until we are 68 and who knows if we will be willing and able to work this long at our current income levels. We both adore this house (for all it's issues) but it is likely that it will be too big for us once DS has flown the nest and we get older and we will sell it and realise some capital from it.

My friend retired 18 months ago at 53 after a health scare with a pot 3 times bigger than mine looks now. She was given advice years ago to come out of a final salary pension into a personal pension :eek: and the resulting compensation she invested has performed very well. It was only after talking to her I understood that you look at the £s in the pot and not what you get every month.

DH did ask last week if I thought it was worth him making AVC to his pension. I don't think he will get any additional employee contributions if he does but it will be tax free so may be worth it. We won't miss it if it comes off at source. Both our pensions increase to 5% employee and 3% employer contribution from April, I bet I am one of the few employees who is pleased about this

Suffolk_lass

AVC are additional voluntary contributions - just beware that if an employer offers these, it is with a particular provider of their choosing (A bit like saying, you must put your mortgage with this bank on their SVR) - it may well be fine but it may not and it certainly removes any choice.

The alternative for topping up is a SIPP where you put the money into "an account" on a platform and they act as the route through which your contributions are invested. Investments are usually in a range of stocks and shares, bonds, gilts and cash (normally the likes of you and me will go with one or more funds).

The fund provider does the mix and aims for either growth or income (the mix depends on your age and stage - the longer before you plan to retire, theoretically the more risky you could be (it can backfire) with your choices. As you get closer, the more you go cautious as you usually have more to lose and less time to wait for things to correct themselves. I hope this helps

redofromstart

Suffolk lass, just wanted to say thanks for those helpful and thought provoking posts on pensions. Helped to consolidate my thinking.

Xspender we are expecting lots of our part time staff to opt out once the contributions increase. One of my jobs in the next few weeks is to try and write something neutral about their options rather than just opt out,

XSpender

Suffolklass - I think a SIPP would be a better idea for us as our employers could change and we would have less control over our money. My employer set up the cheapest option for our pensions because he had to so I don't expect it will perform brilliantly. I will start doing some research into this option.

redofromstart - I can understand how PT people would see it as a big chunk of their take home pay they are 'losing'. I have only had one colleague who opted out when it first came in. He was on a good salary but didn't like what he saw as 'big brother' deciding what he would do with his money. He works for the NHS now so I hope he has opted in.


Bit of a spendy weekend as DS needed trainers for school and home, a couple of T-shirts and DH bought him a rugby top which cost a bloomin' fortune. Our mains were covered by parentals at Sunday lunch but we purchased our own soft drinks and deserts totalling £20. There were 6 different GF deserts available, how good is that?

The dress I planned to wear to Sunday lunch looked ridiculous on me because I have put on so much weight so I had to wear something else. DH also said his fat pants were tight so we are both cutting back from today. I have input my food into MFP and have charged my fitbit. I am away with work until tomorrow evening so will see what the damage is. I have even packed my cozy but may not get time to us it. Eating badly is impacting my energy levels as well.

Rentokil rang today to quote for the mooses. £555 :eek: to do what we are planning anyway which is block up wholes inside and out and leave bait traps. They don't actually fill up the holes for that price they just tell you where they are! The mice have eaten some of the bait last night and DH finished early today and will be searching inside and out for holes to fill with his expanding foam.

Pay day for DH on Thursday and I will be paying off a big chunk of the roof loan then.:)

Suffolk_lass

My rat man was £165 for as many visits as it took (five visits) and blocking up the holes. You should be able to find a local pest control service where you are not paying a premium. I remember my Mum was quoted £7 k for a new boiler but the local plumber did it for £2600 - same thing really.