My 5 year plan

Honeysucklelou2

Fantastic news!

[Deleted User]

fatrab wrote: »

Car has been sold!

Yay!!! Fantastic :j :j

fatrab

I'm sure I don't need to tell you how happy I am this morning!

I have spoken to the dealership and the finance will be paid off today. I have updated my SOA and it's a very rosy picture indeed! [STRIKE]I haven't included any money that I get back from the sale as he hasn't given me exact figures yet, but he's given me a rough idea[/STRIKE] EDIT - SOA now updated

This has some knock on effects....

I'll get a refund of £170 road tax.
I was going to buy a replacement cheaper car as mentioned earlier in the thread, but Mrs fatrab is going to buy it with the proceeds from her house sale so I'll transfer the wee car into my name, and insure it, which also drops my monthly insurance payment by £4. It's £30/year tax so I've not bothered to included it in my SOA.
The car she's buying is a small diesel SUV which I can use for work over the winter and is cheap to tax and insure. As I will continue to get car allowance I think it's only fair if I pick up the insurance and tax costs for both cars.

So once the dust settles and payday has arrived I'll work out how much I've got spare and throw it all at the loan!

Still not had a letter from tax man yet telling me how much he owes me - which is frustrating after having to pay him over £1000 in January - but I have submitted my mileage claim so that should be £857 in my account within next 2 weeks, then whatever the rebate is will follow.

I'm so excited about getting this debt mountain cleared! Can you tell??!!??

[Deleted User]

You're making fantastic progress hun.

Well done on the weight loss too x

jwil

Great news about the car :T :T

JoJoC

That is fantastic news Rab! Well done! A little perseverance goes a long way in your case. Can't wait to see your update figures once you know what's happening with all these plates that are spinning

fatrab

JoJoC wrote: »

Can't wait to see your update figures once you know what's happening with all these plates that are spinning

My head is spinning with it all, never mind anything else!

Income tax rebate came through, £179.20 so add that to the £857 and that's a total of £1036.20. It's so frustrating that I had to pay them £1017 in January!!! Oh well, onwards and upwards from here on hopefully!

After the dealer took his slice of the cake and paid off the remaining finance I'm left with £3k, so that added to the amount in my emergency fund gives me enough to pay off the loan and have £1000 left over for emergencies. So as soon as the money hits my account I'm paying the loan off. It'll leave me with very little spare cash for a few weeks but it's going to be worth it. Then I can focus on the mortgage for the rest of the year.

I've got mixed emotions having got to where I am today. Part of me is so happy that I've come so far in 5 months, but a big part of me is laying the boot in for being stupid enough to get into this mess in the first place.

I've still got a few things to tidy up financially so the war isn't over yet. Things like paying my insurances in full and starting to save properly for future purchases etc. It's my birthday in July and I'm looking forward to being in a much better position this year than I have been for as long as I can remember.

fatrab

I just want to say thank you to every one who has commented and wished me well so far on my journey. I really feel like today is a turning point for me. Having my LBM (or LBM's probably) back in December and January were only the beginning.


Without the banter, support and advice that has been so readily available over the past few months I'd have fallen off the wagon and gone back to my old ways without a shadow of a doubt.


Thanks

supersaver1000

I think we all have those 'wish the LBM had come earlier' thoughts from time to time, but the main thing is that its arrived. No regrets, only look forward. Well done :beer:

fatrab

Morning. The waiting game has begun for the physical cash to be in my hand. Checked my bank this morning and my April expenses are in so that's a start. HMRC can take up to 14 days for the mileage relief but the tax rebate should be in within 5. Dealer said his payment should be paid into my account by the end of the week, hopefully he meant this week!

The estate agent is coming to see Mrs fatrab's house on Wednesday so hopefully that'll be on the market pretty quickly. The current lodger moves out on Monday so she has a few days to spruce the place up a little if need be.

I'm on a training course today and tomorrow in Glasgow so it's nice to have a few extra nights at home again. The mortgage advisor called yesterday to say that she still hadn't received my paperwork which was posted last Thursday so it looks like it's lost in the post. I'll pop in and see her today and fill out the forms again.

I have no patience, I just want everything to be finalised!

Cheers