Drawing a line under the debt. Take two.

ohdearhowdidthathappen

It's a massive change for them, off to uni.
We've settled on paying for 10 lessons for DD plus final big lesson and test.  Think it'll be about £500 and she needs to suck up the rest.
We're debating getting a cleaner, but I don't want to waste peoples time if it turns out to be too expensive for us to justify.
Our house is 6 bed, but we'd probably just get the downstairs and bathroom/en suite/ cloakroom cleaned.  In my head, that would be 2-3 hours a week.  Cleaners around here charge £15ph so it adds up 
When you walk in, our house is very tidy and I hoover regularly, kitchen surfaces wiped regularly and bathrooms ok... but look closely and everywhere needs a dust and I'm lazy about mopping and deep cleaning.

Drawingaline

Cleaners really vary in pricing and standards. I like to think that I am bloody good at my job though! We tend to be on the lower end, but I like having my regular clients and I don't keep ones I don't like (very few, I think only two clients I didn't get on with and two where I just disliked the house, although the clients were lovely, if I start to dread a job I won't keep it) I clean for clients who only want bathrooms and kitchen done, but the trouble with that is, if they are good you start to realise the rest of the house isn't to the same standard and it annoys you (or so these clients say anyway 😂)

The girl is much more settled about the uni now. She told me that much as she preferred the other two unis and the course leaders, and that they would perhaps nurture her better, this one she is going to (🤞) will chuck her in at the deep end and wil challenge and push her and she will ultimately come out of it the other end much better. So we need to ensure that she recognises how to keep her mental health balanced well, she adores yoga and live music and London has more opportunities for that at least! She responds well to constructive criticism and feedback and works well independently already. And it is a cut throat industry that she will be training in, she needs a tough outer shell. So as long as she can balance that and knows to reach out for help if necessary I am sure she will be fine. She is ultra competitive which is a start 😂

I have been busy doing some extra jobs so am shattered. But the next two months are looking better from a financial pov. Hopefully will get some set aside for summer holiday fun. Have nearly all I need for our Scotland trip.

savingholmes

Glad DD is coming round. Glad your finances are improving too. Must be a relief for you.

Drawingaline

Been a while! Whoops. Been reading and running a lot, just doesn't seem to be enough hours in the day atm. 

So the girl passed her driving test. So pleased. All paid up and have sent off for the boys provisional licence and the instructor thinks he can squeeze him in once he turns 17. Hopefully he will pass in a year and then we can have a gap of a few years before the weird one turns 17. He is desperate to be a bus driver so will need his licence, he has been busy practicing his road sign knowledge for the past few months, his current obsession. I keep getting quizzed when I am driving 😬

Have had the tax credit provisional overpayment for the last year, looks like it will be around £600. We earn too much for an award going forward now, so we will need to pay it back via monthly payments. Am going to offer £30 regular payment initially and then pay chunks off on better months. 

Also did my tax return. I owe £800 😱 I thought it would be £500, so need to put £88 a month aside until Jan. Also built in a monthly payment until August for the smallest school trip. I paid the deposit, but I am still waiting on wether they can accommodate him or not, he may end up going for half the week. I don't want to have to pay £350 for two nights, so am holding off paying the installments until I know for definite. He might only be able to go for a.dy like his brother did, if so I am not paying anything else. 

So lots of budget tweeking going on. The girl should hear about her halls next week 🤞 which means we will have an idea on how how much it will cost, and her student finance application is all in before the deadline so hoping it turns round quickly. I need to know for my budget.

The smallest started a new sports class and is loving it. I spoke to his swimming teacher, I feel he can swim enough to not drown and can do a length on his front and back so will stop lessons at the end of term. Frees up £56 a month. 

So it's still looking very tight, and no idea how we will be able to sort paying back the child benefit once I do hubby's tax return. Just waiting on his UTR to arrive so I can do it. 

savingholmes

Ouch to all the bills.

Lovely round up on family news.

Congratulations to DD on driving and DS on swimming proficiency

Queen_of_the_Hive

Woo hoo to your DD on passing her driving test. Will that mean she is getting a car? 

Glad to hear hubby is doing his tax returns. Just out of interest as this year I am doing mine for the first time. Are you doing it yourselves or going though a tax specialist? I've thought wise to go through a tax specialist just to make sure its done correctly.  But may take on the challenge next year. 

As Savingholmes says 'ouch to all the bills'. Hope you manage to sort out a workable plan. 

Drawingaline

Queen_of_the_Hive said:

Woo hoo to your DD on passing her driving test. Will that mean she is getting a car? 

Glad to hear hubby is doing his tax returns. Just out of interest as this year I am doing mine for the first time. Are you doing it yourselves or going though a tax specialist? I've thought wise to go through a tax specialist just to make sure its done correctly.  But may take on the challenge next year. 

As Savingholmes says 'ouch to all the bills'. Hope you manage to sort out a workable plan. 

Hubby isn't self employed and has no special benefits like company car etc, his is just because he is over the threshold for child benefit. So his is straightforward and will just be done off his P60.

I earn less than the tax threshold, this year approximately 9k, so no I don't pay anyone to do mine! It's super easy to do online, but mine is a straightforward money in Vs receipts for money out, some of my phone and internet bills and some milage. 

If I had a company, or hubby had a lot of benefits then I would consider a professional. I know a family member does for theirs, but they own shares in two companies, one with a large turnover so I imagine it is worth it.

And no the girl won't be getting a car. She is off to uni in London in September, she won't get the benefit, and is currently saving as much as she can as her loan will only just cover her accommodation! I didn't drive for five years after passing my test, but if she didn't so it now she possibly wouldn't prioritise it and it could hold her back in the future. 

Queen_of_the_Hive

Good Morning @Drawingaline, 

Thanks for the incites into your self assessment. I could probably do mine next year, I am doing it for the property rental which was a bit complicated in that I did some updating beforehand so hoping to get some of the vat back. I have sent an enquiry back to the accountant to see. Next year though I could probably do it myself. 

Cars in London seem to be turning into a money pit. I don't have a car myself as I get about with no problems. However out of London is a different story.  

ohdearhowdidthathappen

Hope all going well.
Aren't you tempted to just opt out of child benefit?  We did as soon as the £60k rule was implemented and it saved a lot of admin... obviously as long as you're paying your own NI contributions to get the annual tick box. 
It's such a stupid system and penalises families where one partner earns over the threshold.  I remember being so upset when it was implemented... DH earned over £60K, but with 4 children (at the time, we then had a 5th) my low income was eaten up with childcare and the loss of child benefit was very noticeable.  I actually had to cut my mat leave with DC4 short because of it as they announced the change during my pregnancy and we hadn't budgeted for it!
We had friends where both partners worked and earned £45-50k each (with family doing their childcare) and kept it!! They can means test when it suits them....
Grrrrr (can you tell I'm still bitter 9-10 years later?)

Drawingaline

ohdearhowdidthathappen said:

Hope all going well.
Aren't you tempted to just opt out of child benefit?  We did as soon as the £60k rule was implemented and it saved a lot of admin... obviously as long as you're paying your own NI contributions to get the annual tick box. 
It's such a stupid system and penalises families where one partner earns over the threshold.  I remember being so upset when it was implemented... DH earned over £60K, but with 4 children (at the time, we then had a 5th) my low income was eaten up with childcare and the loss of child benefit was very noticeable.  I actually had to cut my mat leave with DC4 short because of it as they announced the change during my pregnancy and we hadn't budgeted for it!
We had friends where both partners worked and earned £45-50k each (with family doing their childcare) and kept it!! They can means test when it suits them....
Grrrrr (can you tell I'm still bitter 9-10 years later?)

Last year was the first year he earnt over the threshold and we won't have to pay it all back. This coming year we will. I am putting the payments to one side atm to pay back as needed. I don't want to opt out, I am unsure the amount of NI I pay through self employment would be enough. Also hubby was out of work for a year back in 2016, and that has made me very twitchy over stopping the claim. If the worst happened we would have the money already coming in rather than having to reclaim it which could take time. It's why our tax credit claim is still open (we actually owe them money now, but with two children on DLA we were entitled to a small amount right up until last year?!) Although this will probably be closed as soon as the overpayment is paid back.

He has no other benefits so the self assessment should be very straight forward, his UTR came in this week so I will sit down and do it this weekend. I may opt for him to pay it out of his tax. That would probably work well. 

But it is a stupid system and it annoys me how it has been implemented. Tbf we never thought we would be in the situation where we would ever earn over the threshold, hubby has done incredibly well these past two years. But it does penalise families with one high earner. It feels wrong.