Travelling On

Karmacat

themadvix wrote: »

Karma - I need to channel your productivity this morning.... DH told me we could get £5 Amazon credit if we watched 5 mins of Prime Video (we're on a Prime trial at the moment).... Now I'm 47 mins into Paddington..... hmm....:eek:

At the moment, I think I'd rather be watching Paddington thats a good wheeze that your DH found!

So, I did go through my paperwork thats been put aside ready for the tax return - I was able to add quite a few figures into the Net Worth calculations, though I still have 6 items to go (one is just my current account, that I've already succeeded in logging on to, so that should be okay). The next people to try to get in touch with are Virgin, as I had a Regular Saver that finished last May :eek:

Then I got out into the garden today's refuse collection is delayed till tomorrow, so I'm chucking a bag together to put in there - can't guarantee my neighbour's green bin forever, after all. There's been a nice few days without rain here, so I might well try for a little bonfire over the weekend, its so cold no one will have their washing out, though I'll check first.

Just doing some pasta now, as I need to stop for a proper break. I have some phone calls too, that've waited so long they're frogs, even though they're to friends. I still feel like I'm in crisis management mode, and trying to stay balanced about it all.

Karmacat

Good stuff, I found Virgin Money, it was already online, so no problem. Final all-round figures not yet in, but an approximation tells me I probably haven't spent quite as much as I feared, though certainly more than I wanted. I keep feeling sick, working on all these figures - have to keep telling myself, it's going to be okay.

Going to forget it for now and have a nice hot shower ...

rtandon27

Karmacat wrote: »

Right, I've been trying to get my act together a little bit ...

:T:T:T
Well done KC - frog casserole is has a surprisingly lovely after-taste!:rotfl:

I've increased my bites of frog from 20 to 30 minutes today as now that I've sorted out a rhythm, it's easier to focus for longer periods!
(30 minutes paperwork, 30 minutes computer time, 30 minutes household chores) Have written out a long long list of things that need to be done & am picking one or two of them for every slot.

themadvix

That sounds super-productive rtandon!

Well done KC for getting the net worth together... don't worry about it - that won't change anything! (Easier said than done, and I'm such a hypocrite, but it *is* true.)

beanielou

My net worth is ok on paper but useless as all tied up in my house.

rtandon27

KC & ladies - can you please explain (in real people language) what net worth is supposed to be? What does it include & how is it calculated - Is it important to know?

(I've done a bit of reading but just can't get my mind around it!)

Does it for instance include property you can't get your hands on but own (OH's ex) Does it include pensions in multiple countries (across the pond for me) - or does it only include 'real' cash that you can get your hands on?

I'm great at managing the day-to-day stuff - the future stuff baffles me & I do a great impression of an ostrich!:o:rotfl:

Karmacat

RT, I can't believe that you just invented the term "frog casserole" , thats quite something!
:eek: :rotfl: :eek: :rotfl: :eek: :rotfl:

themadvix wrote: »

Well done KC for getting the net worth together... don't worry about it - that won't change anything! (Easier said than done, and I'm such a hypocrite, but it *is* true.)

Thanks madvix - its hard, I have to say, but I know you're right.

beanielou wrote: »

My net worth is ok on paper but useless as all tied up in my house.

The majority of mine is too, beanie, so I know where you're coming from.


RT - I'm looking at your questions about net worth separately right now. Good to have those questions asked, actually.

Karmacat

rtandon27 wrote: »

KC & ladies - can you please explain (in real people language) what net worth is supposed to be? What does it include & how is it calculated - Is it important to know?

On a broad level, its assets less liabilities - or, if your debts are really high, liabilities less assets. In real language, thats what I own less any debts I have, the calculation is simple, one figure less the other.
It *can* be important to know - I think its important to know for everyone, really. For me, it's important because I don't have any more income coming in, just pension and savings, and those have to last me the rest of my life. So by finding out my net worth, I find out the level of expenditure I can *afford*, as opposed to the level of expenditure I *want*. That has to go hand in hand with a budget, of course.

For others, younger than me and planning a big life change - they'll need to know how much they've got available, and what claims there already are on that money (like, a debt that must be repaid in 3 years time, things like that. Like when you're buying a house: you don't know what you can afford till you know how much you've got at your fingertips.

Does it for instance include property you can't get your hands on but own (OH's ex) Does it include pensions in multiple countries (across the pond for me) - or does it only include 'real' cash that you can get your hands on?

It depends what you're calculating it for, to be honest. I'd do several calculations, in your shoes: a "global" one, meaning not only countries, but all the money, everywhere, available or not. And then do a medium term one, say - if your Cunning Plan is to be put in operation in 5 years time, your Net Worth in 5 years time (eg whatever pension money you can shake loose, a savings account that matures just in time for what you need, that sort of thing). Does that make sense?

I'm great at managing the day-to-day stuff - the future stuff baffles me & I do a great impression of an ostrich!:o:rotfl:

I did the ostrich impression about the changing pension age, and it did me no favours, I promise :eek:

[Deleted User]

Karmacat wrote: »

On a broad level, its assets less liabilities - or, if your debts are really high, liabilities less assets. In real language, thats what I own less any debts I have, the calculation is simple, one figure less the other.
It *can* be important to know - I think its important to know for everyone, really. For me, it's important because I don't have any more income coming in, just pension and savings, and those have to last me the rest of my life. So by finding out my net worth, I find out the level of expenditure I can *afford*, as opposed to the level of expenditure I *want*. That has to go hand in hand with a budget, of course.

For others, younger than me and planning a big life change - they'll need to know how much they've got available, and what claims there already are on that money (like, a debt that must be repaid in 3 years time, things like that. Like when you're buying a house: you don't know what you can afford till you know how much you've got at your fingertips.

It depends what you're calculating it for, to be honest. I'd do several calculations, in your shoes: a "global" one, meaning not only countries, but all the money, everywhere, available or not. And then do a medium term one, say - if your Cunning Plan is to be put in operation in 5 years time, your Net Worth in 5 years time (eg whatever pension money you can shake loose, a savings account that matures just in time for what you need, that sort of thing). Does that make sense?

I did the ostrich impression about the changing pension age, and it did me no favours, I promise :eek:

Thanks very much for such a clear resume of what 'net worth' is:T. What can be included has always baffled me too although whichever way I calculated it I had a negative one for more years than I care to remember:o. . The main problem was/is a final salary pension which isn't like the modern type where a specific 'pot' of money can be liquidated and 'drawn down'. I never had any idea of its final overall value, maybe they don't give a calculation of it and I've never worked out how to value it myself. Maybe I could write to them for clarification:think: but in the scheme of things it doesn't really matter to me particularly. Every month a sum of money magically appears in my bank account and so long as that continues it's good enough for me:rotfl:


As for ostrich impressions, I think we all have one lurking somewhere all set to appear as soon as we enter a certain aspect of our life. I definitely had one where debt is concerned:eek: but, fingers crossed, I think I might have finally displaced it, if that's the right term.

greent

Karmacat wrote: »

- tried to get the Mastercard £10SB voucher to sit with Amazon. It wouldn't, so now its sitting with my paypal account. Heaven only knows if I'll be able to use it - never doing it again, who the dickens are prepaiddigitalsolutions anyway? I think I've laid myself open to some iffiness there, too late now, but at least it won't infect my Amazon account.

I had one of those prepaid Mcards - tcb give a bigger bonus for taking one, so I think mine was about £45. I ended up buying amaz0n vouchers with it and crediting the amaz0n vouchers to my account - seemed to work that way - although was a bit of a faff! - tcb payouts since have been in restaurant vouchers and Tesc0 ones
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