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Prosperous soul in the making

edited 30 November -1 at 12:00AM in Debt Free Diaries
2K replies 88.5K views
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  • savingholmessavingholmes Forumite
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    Thanks DIA for posting. I've had a few days off so lots of time to ponder... I like the peeling the onion analogy. Will think some more.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • savingholmessavingholmes Forumite
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    Well DD didn't complete her CBT today - had to pick her up a couple of hours in - not for her, not at the moment at least. But hey for me that was part of the purpose of the course. Have arranged to trial an electric bike tomorrow for half an hour. Disappointed but if that works out that will help us and her financially - as can potentially get £300 back as a travel bursary of the cost - plus won't need insurance, fuel etc. Will need some all weather clothing. Still need to buy her sixth form books etc...
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • [Deleted User][Deleted User]
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    At least you know now - and the potential savings on insurance and fuel will be helpful :) x
  • savingholmessavingholmes Forumite
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    Thanks SSDD3.

    After coming back from dropping off DD half an hour away - DS wanted me to take him to the shops. So I took him and he picked out shorts and deodorant. Just as he was about to pay - I said hang on and pulled out my points card to claim his points before leaving him to pay his own £32 bill. That's real progress for me - and I must admit it made me and OH giggle when I told him later. Even as I write I am chuckling about that. No sooner had I dropped him at the station and got home than DD rang for me to go and get her. She demanded I go to a McD and said she would pay. Again I let her. Another result.

    DH had by then come back from an appointment and we took some time out for ourselves. We ate together at a pub without the kids and chatted through what's currently going on in our lives, including different ways we feel trapped and also discussed what steps we were committed to take to help free us from feeling stuck. Nice meal - and the pub we went to did 2 courses for £8 per person - for meals that would otherwise have cost more like £13 each so pleased with that. (lunchtime only deal)

    I had been eyeing up a 2 hour evening glass craft course - £12 plus £15 materials some distance away. I couldn't have gone if DD had been at the course all day - now with her being home so much earlier and both her and DS having plans to see friends and DH going to see BIL, I was free to go. Travel costs were about £21. I do have a days out budget - so far took it from that rather than personal spends.

    DH and I are debating going away for a night tomorrow and leaving DS to look after DD. Need to look at budget impact but really think it would do us so much good as a couple that we should do it anyway. Life has been ultra stressful lately and it would allow us to rebalance.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • savingholmessavingholmes Forumite
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    Chose another book to listen to today Fr*[email protected] - enjoying it so far. They went so radical on their journey to buying a 66 acre homestead - they challenged every single expense starting with $0 outside of their mortgage and then looking at each individual item they bought regularly and challenging it from haircuts to makeup to the types of drinks they buy and onward. It made me realise how much I buy on auto-pilot. Tonight I saved £21 by buying some of DD's text books second hand.

    I had allowed £24 a month for fuel for her - so scrapping the scooter idea saves around £288 a year x 2 = £576 providing she goes with the electric bike option. Hoping she qualifies for the travel bursary £300 pa - it potentially renews every year so could end up with £600 in bursary which could mean we could buy a second bike in year 2 - and the older one could then be for me - or alternatively you are allowed to spend it on servicing and accessories I think.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • luciellelucielle Forumite
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    Hi SH

    Don't want to be the voice of pessimism here so please don't be offended. Is DD really going to use the bike in the depths of winter and its side ways rain? In reality will it not be down to you as the parents to get her there? Think long and hard about the purchase as they're expensive.
    L
    Total Debt Dec 07 £59875.83 Overdrafts £2900,New Debt Figure ZERO !!!!!!:j 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
  • savingholmessavingholmes Forumite
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    lucielle wrote: »
    Hi SH

    Don't want to be the voice of pessimism here so please don't be offended. Is DD really going to use the bike in the depths of winter and its side ways rain? In reality will it not be down to you as the parents to get her there? Think long and hard about the purchase as they're expensive.
    L
    Thanks Lucielle - lovely to see you on my thread. Not offended. The cost of the bike itself is not a problem - as MIL will potentially pay out of an Junior ISA in DD's name - and we may be able to get 2/3 of costs back. Because of the weather issue we had been planning a scooter but her options now are bus or cycling. She doesn't feel able to go on a bus regularly currently. We would be prepared to give her a lift in high wind or ice/snow if the bus is not available but we both work full time, miles away, only have 1 car and her sixth form is in the opposite direction for me (car driver). I had been considering getting an electric bike for me - so I could go on days out with DH - so this could benefit me too.

    To go by bus she would have to leave our house around 7.30/40am and wouldn't get there until about 50 mins later despite it only being 4 miles. She could get there on a bike in 20 mins (with electric assistance) and would have more freedom of movement (ie could leave if she needed to) without waiting an hour for a bus. DS did it 2 years. She originally said she wouldn't - but is now only willing to go to that particular 6th form so this is the choice she has left herself with. If she can't make it work - she would need to transfer to a more local sixth form - only 1 mile away but yes, it is still a concern.

    Need to take her for the bike trial soon. It is currently spitting with rain so potentially a good test. Then DH and I plan to go out for the day.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • girlatplaygirlatplay Forumite
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    I love reading your diary savingholmes, it always gives me food for thought. I like how you summarise bits from what you have read in the £ books. I like your writing style.
    Loan (£7,500) current balance: £4,423.18 :: Original DFD 01/12/2023 Expected DFD 01/04/2023
    IO Mortgage current balance: £87,390
  • clearmydebtsclearmydebts Forumite
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    girlatplay wrote: »
    I love reading your diary savingholmes, it always gives me food for thought. I like how you summarise bits from what you have read in the £ books. I like your writing style.

    I agree. I love hearing about your thoughts and dreams :)
    Total (Aug 19):€58,567 Now:€32,100
    Loan: €28,600 CC1: €600 CC2: 2900
    DFD:Nov 2022/July 2022
    Mortgage: €202,300
    MFD: March 2042/July 2036
  • savingholmessavingholmes Forumite
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    Thanks GAP for the encouragement. Well DD has picked her fourth subject to be one DS did - so can mostly re-use his books which is great news:money: Reduces further book buying from £65 down to around £25. I commit to completing my child benefit form - now she has enrolled.

    The electric bike trial went well enough although she was still nervous. Once I convinced her that the bus would take her over an hour - she agreed she would persevere with the bike. I've now ordered it £479 - should get 3% cashback eventually plus a bursary in 2 stages and MIL seems happy to pay. I've ordered her a cycling jacket and waterproof trousers - another £45. She has a helmet. DH is going to see whether we already have lights she can use or if we need some. He is also going to look into a different saddle for her. I've sent an email to the school asking about the bursary. I have suggested to her that we might need to get her some different boots/shoes for cycling in that are more waterproof - so she's considering that. I've bought her a waterproof cover for a rucksack rather than a new bag at this stage.

    DH is going to ride the route with her so she can practice at least once ahead of day one. Potentially he needs to teach her what to do if her chain came off or her tyre was punctured - however I'm a little worried she would just panic in that scenario. If she sticks with it though it could be the making of her and would be really useful for getting to any paid work etc. Still need to choose a laptop - thankfully coming from MIL's savings for her... Need to ask MIL to make an initial transfer asap as we have CC payments due early next week.

    Gave in and bought DS some new shoes today. They should have been over £55 at a clearance store but got them for around half price so chuffed. Bought him some socks - his were literally threadbare. I bought a new top for 50% off and a dress for 75% off. I'm taking him to look at accommodation tomorrow - he's found some between £75 and £90 rather than the £110 per week he was originally looking at. His driving force - not the £3K debt he's in between us and CC and overdrafts (on top of student loans) - but no his focus is on the hope of going back to Oz and a festival around Xmas. He also wants to buy himself a guitar - I told him he needs to reprioritise accommodation, getting a job and repayment of debt. He owes us over £1K - which represents about 1/29 of our debt... Love him but frustrated.

    DH and I trying to have a frugal last couple of weeks of the month having relaxed the purse strings with DS being home.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17.129 Target 2) Overpay mortgage - now @ £780 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip & other regular charity collections. 5) Build/maintain EF/Savings pots at £1K or more by 31/12/20
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