Buffy Keeps on the Straight and Narrow

Buffythedebtslayer

I hate sundays when you start to think too much.

As I have no savings to speak of, I can't get a mortgage. So obviously the first thing is savings (which I am doing..)

Well actually the first thing is the debt. Which I am doing oh SO slowly.

I do keep getting stuck in the same old rut. Like a lot of us I guess.

I am going to homebase to buy some pots. So I can sort out the house plants.

And have a think. XXX

Pooky

The deposit gathering is a must I think, future proofing yourself.

That's why I mentioned the shared ownership schemes the other day, DD2 should exchange contracts this week and her deposit was just under £1800.

Check out the help to buy isa too, you get 25% on top of what you've saved which the solicitors draw down for you when you make your purchase. You'd be hard pushed to find a better deal towards a house purchase.

Sun_Addict

Surely you must have some legal rights as you're contributing to the house? It seems very unfair if you don't you've spent a lot of money on it.

Buffythedebtslayer

Pooky wrote: »

The deposit gathering is a must I think, future proofing yourself.

That's why I mentioned the shared ownership schemes the other day, DD2 should exchange contracts this week and her deposit was just under £1800.

Check out the help to buy isa too, you get 25% on top of what you've saved which the solicitors draw down for you when you make your purchase. You'd be hard pushed to find a better deal towards a house purchase.

I am quite excited by the help to buy ISA. I am pondering that, as the MSE website says B"rclays is the best. And I could apply online.

In the first month you can pay 1200 and after that 200. Is it worth waiting till I have that do you think? I feel like it is??

I *could* take another month off paying the CC a huge amount and use some of the emergency funds.... Or I could wait a couple of months and do half and half?and then put together the 1200?
and then pay the 200 pounds in each month.

thanks for that Pooky this might give me a way forward with a purpose as opposed to feeling like I am going round in circles.

Hmmm going to clean the rabbits out and ponder this some more.

xxx

Buffythedebtslayer

Sun_Addict wrote: »

Surely you must have some legal rights as you're contributing to the house? It seems very unfair if you don't you've spent a lot of money on it.

I really can't find anything that says so, and unfortunately it isn't something I can bring up with the family without feeling like a money grabbing old !!!!!!

And lets be honest this is all something I should have done years ago, I can make all the excuses I want, but the reality is that I chose this in the end, if that makes sense. I am a reasonably sane woman who watched as her friends bought houses, settled down and I just hoped it would happen to me and it didn't. And I have lived until recently without any real responsibilities. So it is about time I made a proper plan for the future.

RosaBernicia

I had a HTB ISA, all very easy to do and got me an extra £650. Be aware that you can't get your hands on it for anything else though.

I think you would have a case for having contributed to the house, but you would need to make that case so only you can decide whether you would do it. How about a quick chat with legal advice - if you have legal insurance cover you could ring the helpline, or a solicitor might do a free half hour. At least that way you would have fully checked out your options and your decisions are informed from then on.

If your mum really isn't prepared to talk about the situation then yes, you absolutely need to make a plan and preparations. Mine basically helped me out with the house to avoid exactly that risk of theirs being taken up for care costs while I was still renting. And as much as I've been grumbling about it today as I look at the amount of maintenance that isn't getting done, I would much rather be in a messy house of my own than back in a situation where someone else can tell me to leave or how messy it's allowed to be.

Totally know what you mean about waiting for things that happened to other people but we are where we are and anything that gives you safety and new options is good, especially if it also gives you motivation.


Rosa xx

Pooky

You have to have £1600 in the isa before the bonus kicks in if you draw down to buy so if you can start it with the £1200 then yes, go for it. Both DDs had done a regular saver and transferred it over to start the help to buy one.

Buffythedebtslayer

I really don't know whether to quit my job.

This year a number of bad things have happened regarding work - as in career endingly bad (not to me, to others)

Our leaders (!) such as they are cannot cope at all and are pretty much no help. Like really. No help. Parents are starting to complain. Not enough yet but probably will be.

I know I have said this all before recently, I am trying to get some kind of order to my thoughts.

In the first term I was waiting for an improvement...nothing......and so far this term things are worse not better. People I like and admire are looking for other jobs. I had written my letter and was going back to supply.

Then we had our pay review and I got a significant rise (to me! turns out 300+) and I am earning the most I can earn before I go into management - that I will NOT be doing.

If I didn't have the debt (4900) I would go I think,Even then would I want savings? Probably. Should I be so motivated by money? Realistically yes. Pension, future, savings, debt repayments.

On the other hand I came home Thursday with most awful pain in my shoulders which crosses over to my round my chest if that makes sense. Which I can get at least once a week after a bad day. And my friend wakes up in the night with panic attacks. I came home yesterday and went to bed for 3 hours I felt so awful and tense.

I think tho I could handle the stress better(bed early, proper food,work more organised). And also I do have a mate at work who offloads for hours at a time (I am not exaggerating) and I think that can make me quite stressed as she will NOT take advice or speak to someone who could actually help her so it is a tiring repetitive experience plus it wastes time after work... also two of the staffing issues should be fixed after half term....

I suppose I just have to wait and see. ugh. Also I need breakfast.

XXX

in_need_of_direction

I always say not to make a work based decision based solely on money unless that’s the means to cover essentials (not Amazon habits!)

If you put your pay rise to one side to move towards debt free, how soon could you be debt free. Could you put up with the job for that period? I knew for quite a time that I needed to leave my last job but hung in until we got the mortgage down to the point where dh’s salary could cover a remortgage if needs be. I was then able to do some extra months building a nest egg without feeling the same pressure.
During that time I also formally put forward various suggestions to improve things. Some were accepted.
As for your all absorbing friend, remember failure can be caused by contagion. You need to step away from taking all their gripes. I know it’s a friend but you need to look after yourself too.

Buffythedebtslayer

I think realistically and being grown up (sighs) it will take till the end of year. I wanted to pay off 600 a month. But just off the top of my head - Amazon is due in feb and half term - am away, March Mum's birthday, April is the Easter break and I will want to have dinner with friends etc, rabbit insurance is due in May, sisters birthdays, car problems, vet bills. So all of the 600 is never going to be available...

The first time i got out of debt (the scary 25,000) I did stop everything for a period, but now with how things are, looking after mum more, sis and BIL etc I just don't think I can do that again. I don't want to lose the good bits of my life.

And the trouble with teaching is you can only leave at certain times.

SO. say I decided to leave in July (notice given in May) I would need to pay 705 pounds a month to be out of debt by then. Which would mean a restriction of life style plus potentially being miserable at work and not really saving anything? Not a plan.

At the moment I save about 270 for "the summer", insurance, Christmas.... I would like to stick with that.

and even to get out of debt by Christmas it would be 500 a month which is tight!

It is 11.30 and I have been having a relaxing morning, so best get on.

thanks INOD XXXX