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The Edcawber Principle

edited 30 November -1 at 12:00AM in Mortgage-Free Wannabe
1.9K replies 223.4K views
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  • edited 3 July at 4:31PM
    edinburgheredinburgher Forumite
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    edited 3 July at 4:31PM
    Hope all is well with you and yours. End of the month - exciting times. Have your plans progressed I wonder?
    @Suffolk_lass - as you say - month end and everything is ticking over nicely. This is the last month of our mortgage holiday, so the budget needs to be tightened up for August. I think our actual NW will drop by the end of July (vs. June), but that's ok, there were a few factors that made the end of June look artificially good :)
    DD furniture is looking to be more expensive than planned. Actual furniture itself is fine, £200 or so in [email protected] for a large chest of drawers, a bedside table and a mirror (we'll use her built in cupboard for hanging space). Clearing out the built in cupboard will force our ridiculously full garage to overflow, unfortunately, so will force us to realise costs of another £200-250 to hire a large skip to empty this. I had considered driving to the tip 8-10x, but this is completely unworkable, some of what we have can't be recycled and we're only allowed one carload a week. I'll be able to get rid of a couple of larger articles of furniture via Gumtr3e or similar. A pain in the posterior, but a one time thing and long overdue. Mostly budgeted for, £1xx or so top up required.
    Also looking to be an expensive month as we've started buying school uniform for DD and she has decided to be a giantess! Everything is currently size 7-8, more than I'd expected for a (just) turned 5 year old. We have spent £1xx already, probably the same again to go on gym clothes, outdoor gear and shoes. What can you do?... It's (largely) budgeted for and will be topped up as necessary. Again, £100 or so to be topped up from surplus.
    On the moneysaving side of things, I think it's probably time to start relisting a few [email protected] sales and our V1rgin account is up for renewal, so will be haggling to keep the current cost (or lower).
    ISA balance growing steadily, I continue to add monies to VHYL and the DD for DD is doing its thing in the background.
    Good times - overjoyed to be allowed to return to play parks and the recent changes re. children not having to socially distance outside will make the world of difference!



  • beanieloubeanielou Forumite
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    Good to hear from you  :) 
    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.***
  • Suffolk_lassSuffolk_lass Forumite
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    I feel your tip pain. We use ours weekly in the summer for garden waste, normally (re)using those bulk bags that you buy a ton of aggregate in. Well currently there are no trailers and I have to say that hell would have to freeze over first before I put any of them in my car so we had ten built up (garden is large). We wanted some pruning and hedge work done so I negotiated with the local friendly farmer and the friend who was the farm manager for the not-friendly farmer. Friend and I did the hedging and clearing (he used his chain saw, I used my loppers and mostly cleared) and we disposed of ten bag and fifteen caged trailer loads - all burned. Such a relief. The normal tip stuff can wait but we just had so much garden waste (and all the compost bins were full).

    I also share the school uniform memories. Our DS is and always has been 97th percentile tall and was born long enough for 3-6 month baby grows. (Why is there VAT on School Uniform?) - Add the fact that as a boy he resided on that particular planet and had no memory of kit or possessions and we went through some very smart Coleman Lunch boxes and whole bags of PE Kit. He attended a prep school that clearly felt this was collateral damage for sending your child there, with the uniform only available from one shop at 50% increased price and no concept of passing on uniform except within families between siblings. I still have his last Junior School duffle coat (bought when he was 9) that I swear would fit a shetland pony and is labelled age 16.

    Save £12k in 2020 - #20 £5,010.84/£5k 100.22% after September
    OS Grocery Challenge 2020 target £2,230.32/£3k 74.34% so far at end of Sep
    Mortgage Free Wannabes 2020 #37 £8,405.49/£15,000 56.04%
    MFIT T5 No 2 £51,020/£59,998 or 85.05% paid after Q6
    My Debt Free Diary is Get a grip Woman
  • Suffolk_lassSuffolk_lass Forumite
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    How are you? I can see you have been on here but you haven't posted for a while. I hope you haven't started a new thread and not mentioned it here?!

    We have got honeybees for the timebeing. Bought them from a man who had developed an allergy. They seem to like it here and there are reports of them across the Village (people assume all the honey bees are from here!). Hoping some of the pulled way frames with nectar in are going to be made into honey soon!

    Save £12k in 2020 - #20 £5,010.84/£5k 100.22% after September
    OS Grocery Challenge 2020 target £2,230.32/£3k 74.34% so far at end of Sep
    Mortgage Free Wannabes 2020 #37 £8,405.49/£15,000 56.04%
    MFIT T5 No 2 £51,020/£59,998 or 85.05% paid after Q6
    My Debt Free Diary is Get a grip Woman
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • HazelnuttyHazelnutty Forumite
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    Good to hear from you, Edinburgher! I think a lot of people have been floating the last few months, and that's just fine in the circumstances :)
    Choose kind:)
  • edinburgheredinburgher Forumite
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    Can't believe I forgot remortgaging! [email protected] switch off the table for now. Also starting to fret about our decision to take a three month payment holiday. Yes, we used it to pay off the last of our debts, but folk were being furloughed left right and centre at Mrs E's employer, so it seemed sensible enough at the time :* Our mortgage payments started again in August, so hopefully a good broker will still be able to give us options?
    £31 paid into Premium Bonds. Feeling tired after my first real week back at work - my Friday tomorrow :smile:
  • edited 20 August at 7:42AM
    Suffolk_lassSuffolk_lass Forumite
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    edited 20 August at 7:42AM
    Hopefully a good broker can do the business. I have only ever used one - I always did the research myself but I thought they might have access to something I did not (they didn't). I would certainly do a bit of research yourself - type of mortgage, advantages and disadvantages, flexibility, penalties if you OP, fees, that sort of thing.

    At the time we used a broker, we were remortgaging and building our extension and went with Skipton, adding £90k, 18 years ago. I have since toggled between repayment and interest only, and we ported it when we moved. I can see from Skipton's web site that they are offering 2, 5, and 10 year fix currently - one of the 10 year deals is 2.55% for 75% which I would be tempted by, just for the certainty. Ours is a lifetime tracker that we intend paying off in October. I wanted to stay with a BS rather than a bank. I just like the mutuality thing. I had been listening to R5 Wake up to money and I thought a tracker might be good for us (it has been)

    My own thinking is that these current early signs of inflation are just the first things. Some slightly better savings deals creeping in is in my view an indicator of others thinking the same. I would say it is an excellent time to remortgage. And it is always worth asking your current lender if thy can waive the fee if you move to a better product with them - they often have in the past.



    Save £12k in 2020 - #20 £5,010.84/£5k 100.22% after September
    OS Grocery Challenge 2020 target £2,230.32/£3k 74.34% so far at end of Sep
    Mortgage Free Wannabes 2020 #37 £8,405.49/£15,000 56.04%
    MFIT T5 No 2 £51,020/£59,998 or 85.05% paid after Q6
    My Debt Free Diary is Get a grip Woman
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