My 5 year plan

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fatrab wrote: »

So in the past 14 hours there have been some developments in the fatrab household.

Firstly, the dealership called last night and we've agreed to drop the price to try and get a quick sale. Means I won't get quite as much but also means my debt mountain will be halved. We're also going to give them the car so it can go on display in their showroom. Hopefully it'll sell soon. Fingers crossed on that one.

I've mentioned this before but Mrs fatrab owns a property with her mother. This is part of the reason why we have separate finances. When they bought the property it was with a Northern Rock mortgage from hell and they've been stuck with it ever since. So it was agreed that when the current lodger leaves the property would be sold. Well last night the lodger informed Mrs fatrab that she's been offered a job down south. So if she accepts it and gives her notice then the property is being sold.

Once the property is sold and all it's associated debts are paid off we'll finally be in a position to merge our finances and hopefully that'll put us in a stronger position to pay things off quicker.

So the fates of many things are currently in the hands of the gods!!!

That's fantastic news hun, everything looks like it is heading your way at last xx

Kitten868

You have such a knowledge for cars I think you should sell it if you could get more privately. I don't know how they're charging you so that's up to you. I know last time wasn't fun but you did it on your terms.
Great news on your Mrs' house.
Wish I had a 5 year plan for the mortgage. How about you work out how much you'll be paying each year for the next 5 years approx and say once it's done you can spend it on a holiday like barbados whatever motivates you x

fatrab

The benefit of selling through the dealership is that they're a franchise for the make of car, as it's a specialist make. Them being able to provide finance, main dealer warranty & after-sales service is worth it's weight in gold!

A few years ago I sold one of my high-value cars privately and it took months of dealing with tyre kickers and dreamers so I'm happy for the dealership to take that stress!

I think a nice family holiday before the little one starts school is definitely on the cards (assuming everything is sorted by then!), that'll be around 4 years time

Have a great weekend everyone

fatrab

Happy Monday peeps!

So April's round up looks like this:

April's Goals - 20/21 NSD - 21/20 Lunches - 29/28 AFD - 28/31 TAFD (take away free days)

Could've done better, is probably the best I can say really. Did well with the take-aways up until last week, then fell off the wagon on payday. Didn't quite hit the NSD's and that was just pure and simple bad planning. So this week it's back to basics, meal plan already drawn up for the week, meals from Savvy Shopper, shopping already done at Lidl and hitting the 16:8 intermittent fasting plan as of tomorrow.

Dropped the car off at dealership on Saturday so it now has pride of place in their showroom on full display for all to see, and we dropped the price a little. It's just a waiting game now until it's sold.

So I'm setting some pretty high targets for May.

No alcohol - I'm trying to do 90 days alcohol free!
Lose 1 stone - I'm fed up !!!!!footing around, plus I'm back up at 16st.
Average 70mpg - Currently at 68 for April.

My birthday is in July, my present to myself is to be under 15st by then.

So, May, lets see what you've got up your sleeve.........

jwil

Great news about the house and car, hope the car sells quickly.

Good luck for May's targets.

fatrab

Lodger hasn't given notice yet and has just paid another full month's rent so we're not sure what's going on....
watch this space.....

JoJoC

That's good news! A month's rent is not to be sniffed at

Our tenants wanted to move onto a rolling month-by-month contract but we asked our letting agent to push back a bit saying that we need a bit more commitment or at least information out of them so that we can future plan. They then came back saying fine, they'd sign the six month contract! Phew! Don't need to worry about that until September at least.

Good to see your goals mapped out for the month! Don't be so hard on youself about April - you know that you can do better and it's good to push yourself but you're doing well. Look how far you've come in just a few months!

Storm89

I like your outlook , April didn't go as well as I had wanted either. Just get up and make new targets for May is the way to go . Intrigued as to what's going on with the lodger and if they're staying or not.

fatrab

Looks like I'm going to be working this weekend so should make a few extra quid in overtime again this month. Bank holiday rates too - woopee!! Overtime for last month has also been approved so that'll be in this months pay and my expenses were approved yesterday so they'll be in the bank next week hopefully.

I've hit the ground running this morning with the diet too, all meals bought and made for the next 3 days and no snacks were purchased during yesterday's food shop (£10.55)!!

Just been for a medical which was required for this big project that's starting up, as expected my BMi is still a bit on the high side (31) and my blood pressure was slightly high. I have white coat syndrome, I've had monitors fitted in the past but all readings were normal. As soon as I go near a doctor, nurse or medical facility my BP goes through the roof!

Stolen from LBW, but my plan going forwards is to have a weekly budget of £25 for food. Whatever I spend under that I'm going to transfer to my credit card. It'll only be pennies most weeks but it'll give me something else to focus on.

I'm sure that little saving will be the icing on the cake to offset the £38/month that I had vowed to achieve. I've made 4 lunches/dinners this week for under £5, just need to get back into the habit of doing that every week again. Really let things slip last month. Trying not to be too hard on myself but its annoying to look back and see that I could've done so much better.

All finances, debts, bills, payments, budgets etc for May are now accounted for (updated SOA above) so every spare penny is sitting in the emergency savings pot for now. As soon as the car is sold and the tax rebate is through (still waiting on P60's) all spare money will be thrown at the bank loan. Part of me wants to make a payment to it now but the other part of my brain is saying wait until I've got as much as possible then clear it in one hit. Paying it now would mean basically wiping out the emergency fund so I don't know if it's worth taking that chance, but it would save a little bit on interest in the long run.

It's all about moneysaving at the end of the day. I'll sleep on it and decide tomorrow.

JoJoC

I think it's great that you're able to clear it but I'd be wary of clearing out your emergency fund to do it. By waiting a month or two, you could build up your emergency fund a bit more to ensure you have enough extra in there to take the hit? you're right about saving interest but you don't know what's round the corner and you don't want to end up with nothing.

Great news on the overtime! Every little helps