Earthgirl's Final Battle

earthgirl2

So I have done some rejigging double checking mortgage rates and savings rates. I've overpaid this years allowable amount and on paper our mortgage now stands at £42, 289.51. Our savings after paying this off (and after the workmen are paid) £18, 480. 
But £6,000 of this is earmarked for the children's funds for when they are 18.
So have £12,000 left over is good because we will need this for windows and door replacements in the next 3-5 years. We also have an endowment of approx. £18 k due in 2022, so we will probably need to earmark this for new windows and doors - there are lots and it is freezing!

So now I need to do an updated SOA and go through everything - to see if I can get it cheaper. Then a budget. I find this really motivating as it shows how if we are wanting to go on holiday, we need to work for it and save up

apple_muncher

It's exciting to plan and budget when you have money to do it with- enjoy plotting and scheming!

earthgirl2

Thanks everyone for your encouraging words. I promise you that we worked our socks off to save up the money over 15 years or so. I'm so lucky to have had all the opportunities to work that I have had, but we have definitely put the hours in over the years
Apple, I am the opposite, I like pushing myself by not having enough money IYSWIM, then I make much better (less lazy) choices! 

earthgirl2

SOA

MONTHLY SPEND Home £1,229.17 Insurance £30.08 Eats, Drinks  £446.40 Transport & Travel £150.83 Debt Repayments £0.00 Savings & Investments £200.00 Family £136.67 Fun & Frolics £70.67 Health & Beauty £71.00 Clothes £6.67 Education & Courses £0.00 Big One Offs £291.67 Odds & Sods £50.00   £2,683.15

MONTHLY ANNUAL Total income £2,338.00 £28,056.00 Total spend £2,683.15 £32,197.76 You spend MORE than you earn... -£345.15 -£4,141.76 So with NO money from tutoring, having students or a lodger, we need an extra £350 after tax to just break even. Normally I earn about £350 tutoring, and we also have big events such as students to stay which boost our totals for holidays. This budget includes £50 odds and sods, something I have been very bad at buying lately.  So this is great, it shows me that things are a bit squeakier than I'd like, and I do need to keep my tutoring going, keep an eye on grocery spending (set at £80/ week here) and lower our costs a little.

beanielou

No odds & sods at all ? 
Only 6 quid a month on clothes for 4 of you?  Really? 

earthgirl2

I was messing around with it as you posted Beanie, as I needed to put odds and sods in so I picked £50 month, but this is just a guess.
With clothing this is correct as OH has his own budget bc he gets clothing via his work. Me and the kids have hand me downs and extras we need come out of our Birthday and Christmas money, and back to school clothes come in the big one off budget.
I don't really like this budget planner as it really isn't that easy to see what you spend money on! But a bad workman blames his tools, and I am so poor at budgeting!!

earthgirl2

So all talk of budgets and money saving are out of the window again. DS1 has a cough and high temp- 14 days after being on the covid school bus. I got him tested last night. We are all isolating again now. I can't get the student to get up and get out of his PJs anyway so that bit isn't going to be too tricky. OH and I have fallen out (this makes isolating even more unpleasant). If DS1 has covid this could be a very difficult Christmas. I'm normally quite chipper but I am struggling with this.

Opportunities:
Enjoy more lovely time with my boys
Get them doing school work that actually makes a difference rather than colouring and wordsearches lol
Do some indoor exercise again as it's pouring outside.
Try to think positive and stay busy.

themadvix

Hope it’sa negative result for you and he’s feeling better soon

Karmacat

From me too, hope it's negative sorry you're struggling.  Take it step by step to get through it all, and all the best.

apple_muncher

Oh earthie - hugs from me xx