One domestic drama away from debt: future-proofing our finances

enthusiasticsaver

PlaysNicely wrote: »

:wave:

Hi Enthusiastic
Entitled, probably, willing, certainly not I'm afraid. He's reluctant to apply for any benefits (JSA or sickness) as he feels he's on the mend and may be well enough for supply in September. As his preference would be to do that on a semi-retired basis, he doesn't want to claim anything, just get used to managing as we are so that anything else he can bring in will go straight towards refilling the gradually diminishing living fund!

:T Sounds like you're really on top of the planning there and it sounds like a good plan - I was watching our budget for a long time so we could overpay the mortgage and get ourselves into a better position for eventualities and you're certainly right to be so pro-active to get good measure of what you need ... really hope it all works out for you.

Have to say, in reality, we've actually managed on a little less than we'd anticipated, largely I think because we're using the car so much less now that OH isn't working and also because he's not nipping to the shop as often (for his lunch bits, £30 later ... etc), so hopefully there will be some nice surprise underspending for you too!

Do you have a diary on here? Would be nice to visit you too, check out how you're doing and pick up a few monster saving tips! PNx

I can understand your OH being unwilling to claim and hope his health improves so he can get supply work.

My OH retired last year and a lot of our expenses reduced then as he would buy lunch out whereas now he says it is more effort to do that now he is home more and just fixes himself a sandwich. Fuel costs have also gone down but utility bills higher as heating sometimes on during the day and we eat out more often on days I am not working so swings and roundabouts.

Thanks for the offer to visit but I don't have a diary. I often comment on diaries as I was a debt counsellor for a well known bank in the past so feel qualified to comment. We don't have debt now but have lived on very tight budgets in the past. Life is much easier now but as you know retirement will tighten our budgets again next year but we no longer have financially dependent children or a mortgage so that helps.

You already sound as you are pretty clued up on saving and downsizing was certainly a wise move. I will watch your journey with interest.

PlaysNicely

:wave:

Orange_Ena wrote: »

Good luck with all your plans PN. Doing something everyday towards a goal is so achievable. Whether that's not spending, throwing out a useless item, cleaning that dreaded drawer out, it all helps! I'll be cheering you on

Thanks Orange Ena, you're right, that's exactly it, I think, the little bit at a time approach ~ how to eat an elephant and all that! I appreciate the cheering on, helps to keep us going in the right direction!

:rotfl: Bit spooked how you uncannily know about the state of my drawers though, lol! PNx

PlaysNicely

:wave: Hi Enthusiastic, thanks so much ...

enthusiasticsaver wrote: »

I can understand your OH being unwilling to claim and hope his health improves so he can get supply work.

That's kind of you, thank you ... it has been a worry and he turned down a procedure which may or may not have proved helpful (he wasn't prepared to risk it) so we can only do our best to give him time to get a bit of breath back and then check out his options!

My OH retired last year and a lot of our expenses reduced then as he would buy lunch out whereas now he says it is more effort to do that now he is home more and just fixes himself a sandwich. Fuel costs have also gone down but utility bills higher as heating sometimes on during the day and we eat out more often on days I am not working so swings and roundabouts.

Yes, you're right about swings and roundabouts, good point about utility bills. I've just swapped providers and that's brought the direct debit down a bit so I'm hopeful it will stabilise at the low end for the colder months at the end of the year ... and of course he may be working a few days a week by then. I try not to have the heating on when I'm working at home, tend to go with the before-school-after-school timings to keep the house warm enough and just layer myself up if it gets chilly in between, but I certainly need the reminder to keep an eye on it!

Thanks for the offer to visit but I don't have a diary. I often comment on diaries as I was a debt counsellor for a well known bank in the past so feel qualified to comment. We don't have debt now but have lived on very tight budgets in the past. Life is much easier now but as you know retirement will tighten our budgets again next year but we no longer have financially dependent children or a mortgage so that helps.

Sounds like things have been very similar for us (circumstantially, I mean) and I certainly appreciate your professional insights. It's great that you're having that pre-run at the retirement budget, have you had to do any major tweaking yet?

You already sound as you are pretty clued up on saving and downsizing was certainly a wise move. I will watch your journey with interest.

I appreciate your wise company en-route Enthusiastic! Yes, I'm a great one for looking holistically and predicting what could / should / may need to happen and thankfully it's stood us in good stead so far!

What's a bit weird is that I felt most vulnerable in the months immediately after the move, when everything (finances and OH's job particularly) was up in the air. Now the dust has settled and we know what we need to do, I feel a lot better for the fact of doing it, I'd always rather be pro-active than reactive!

Hope you're having a good day, PNx

PlaysNicely

:wave:

Bit of a lull between work and the rest of the day's activities, so just catching up in case time defeats me later! So far today:

Not spending:
Needed to get milk but worked out tonight's dinner before popping round to SM so as not to be tempted by meal deals etc, so literally just milk purchased. Happy with that!
Saving:
Did a small account shuffle so that we can start using an old account for saving. In doing so, I managed to pop another £20 into the 30 Fridays challenge, as I wasn't able to do anything towards it last Friday!
FF&FFF:
Extra income: Have been offered (and accepted today) some extra hours at end of July and beginning of August so that will be a little extra into the Grand pot for both months (but won't count it until I actually get it)! Glad to know it's coming though!
Money monitoring: Not really into Apps much, but was playing around with my phone yesterday and downloaded a Budgeting app which seems quite good. Going to trial it with my personal account - not the life fund accounts etc as I always know broadly to the penny what's happening with the household finances but not so much my own. As I don't really have a lot of personal spends, it will be a useful way to get to know the app within the constraints of the trial version and will help me keep tabs a bit, I guess!

May also stop me popping into Charity Shops each time I'm working in town!

PNx

Julie67

Hi PN I've found your diary and subscribed.:j
Yes our situations are very similar, although I wish we were at the stage your at and had found something nice to buy and live in.
We had a long chat today about what we would do if the house valuation doesn't come to what we expect. We would probably have to stay here another year or so and then have it valued again but I'm really hoping it's what we expect.
I feel you on charity shops, I just cannot resist a 'bargain'

PlaysNicely

:wave:

Julie67 wrote: »

Hi PN I've found your diary and subscribed.:j
Yes our situations are very similar, although I wish we were at the stage your at and had found something nice to buy and live in.
We had a long chat today about what we would do if the house valuation doesn't come to what we expect. We would probably have to stay here another year or so and then have it valued again but I'm really hoping it's what we expect.
I feel you on charity shops, I just cannot resist a 'bargain'

Hi Julie, thanks for the visit and subscribing, glad to have you along!

I know what you mean about being at this stage, the whole house selling / buying malarkey is something I wouldn't wish on anyone, yet you'll have some great times before you get here, like the moment you find and fall in love with your downsize-dream-home (whatever shape it turns out to be). The great declutter is always very cathartic too, and really adds to that sense of fresh start!

I did have to shut myself away when I was sorting through all of my kids' bits from the attic though, as I'd probably kept everything they'd ever glued / coloured in / crafted / written etc and was in pieces having to be ruthless (eldest is 33 btw so clear out long overdue really)! So, make sure you come back here for a hug when you get to that part! I certainly needed a few!

Good luck with the valuation ... fingers crossed it'll be a workable figure. Do bear in mind tho that the figures are often relative, so your downward purchase may come in at a lower figure also? Wishing you well, PN x