Prosperous soul in the making

savingholmes

In other news today - had to claim on my insurance for windscreen chip damage - work should be done a week on Saturday. Only costing me £10 excess and shouldn't affect my no claims.

We also took our cat to the vets and confirmed its a boy (DH disputed it previously) and got anti-inflammatories for its limp. Glad it doesn't appear to be anything more serious but he's been limping since Monday. £52.50!!!

Q cashback site says should get £14.37 which sounds good. We are also due to get a £10 voucher. Every little helps and all that.

savingholmes

Yesterday took DS to look for uni accommodation for his third year. We looked at private landlords before finding some uni-linked accommodation for £90 per week for 42 weeks - £3,780 per year. We have asked if any of the rooms at the £70 or £75 per week rate become available whether he could then move - £70 per week would be £2940. For contrast in his first year he paid around £103 per week!!! He wants the cheaper accommodation because - he wants to try to go back to Oz at Xmas - for which he would need around £1K. We should find out either today or early next week what accommodation they have been able to offer him. The good news is that if they give him one of those - he would be on a 42 week contract instead of 48 - saving £540 and he shouldn't need to pay a deposit - meaning we can put that £250 towards debt instead. :j:money::j

He thinks he should be able to work almost full time in terms 2 and 3 and should then be able to repay us what he owes and we should be able to reduce how much we are funding him. :money:

Listening to some of the stuff on frugality - I realise that I have brief moments of shining frugality followed by consumerist stupidity. Need to make frugality a lifelong habit rather than blips. I barely paid for clothes for DS untll he was 10!!! DD was similar... Same with baby items... but more recently paid for furniture full price etc because we feel like we can - despite having lots of CC debt... Need to change my mindset.

savingholmes

savingholmes wrote: »

If we successfully put these steps in place - and stay within budget will be able to:
Overpay mortgage £78.41 (done)
Pay CCs a total of £1137 including the £172 that has already gone out

This would leave our CC debt at the end of the month at £28,701 and leave our Nov 20 CC DFD intact, so that's the plan.

New target CC debt to be at no more than £28,368 by the end of the pay period - which would mean we pay off £1470 by mid Sept when I next get paid. On top of that - I boosted our savings by £350 to help with quarterly and annual bills.

savingholmes

DS got the £70 a room one - for 40 weeks so only £2.8K (instead of £5.2K spent in first year!)

MovingForwards

Sounds positive with DD, I'm sure there are cycle repair courses around which would give her (and you) the much needed confidence (and reassurance) needed in case of a blip

It's all coming together with your DD too, he sounds like a planner and is determined too!

Good luck with your financial aims, you will reach your target xx

Dottles1

Listening to some of the stuff on frugality - I realise that I have brief moments of shining frugality followed by consumerist stupidity.

I recognise that in myself Savingholmes. I caught myself watching the Ama3on sale advert and thinking "ooh I wonder what they have on offer". Crazy !!!
Good news on the room for your DS, everything helps.

StripeyTightsSpottySocks

Hi savings - lots going on over here And lots of good news too - your DD with her bike and course subjects all chosen - your DS with his uni room sorted and realising by going for the cheaper option it will help him get away at Xmas As you say it may not be the best priority regarding the fact he has debts to you (does he see them as debts by the way?) and not sure if it's my inner spendy speaking but it does sound like it would be a great holiday and has made him consider money being finite and spending less on one thing will give him something else he'd prefer as well. So he does sound as though he's learning re finances and budgeting

Hopefully question about how your son sees the money he owes you isn't a rude one. I know from experience i have had to repay every penny and more if i've borrowed. When sibling, earning significantly more than me, moved they had all manner of things paid for including roof being done :eek: as well as all those little jobs you suddenly find when you move and costs mount up eg alarm needs fixing, lamp broke on journey, door handle a bit faulty and on and on and on and didn't see this as needing to be repaid and so didn't :rotfl::rotfl:

Good luck with your target :T I needs me a mini target too :think:

savingholmes

Hi MF, Stripey and Dottles thanks for commenting. DS is a weird mix of driven and laid-back.

StripeyTightsSpottySocks wrote: »

Hi savings - lots going on over here - your DS with his uni room sorted and realising by going for the cheaper option it will help him get away at Xmas As you say it may not be the best priority regarding the fact he has debts to you (does he see them as debts by the way?) and not sure if it's my inner spendy speaking but it does sound like it would be a great holiday and has made him consider money being finite and spending less on one thing will give him something else he'd prefer as well. So he does sound as though he's learning re finances and budgeting

Good luck with your target :T I needs me a mini target too :think:

DS is focused - yes he does have to repay debt and knows it. He is talking about getting a 4 or 5 day week job from Jan to pay back his debts while finishing his studies. He was working upto 20 hours a week in Oz on top of his studies to afford to stay out there.

clearmydebts

savingholmes wrote: »

DS got the £70 a room one - for 40 weeks so only £2.8K (instead of £5.2K spent in first year!)

Such brilliant news! You are flying along with the debt repayment

Bargainhunter30

Hi Savingholmes, you are doing a fab job, well done!

Do your children know about your financial situation? When my dad was poorly in my late teens and early twenties and my parents struggled financially, I think it really helped shape my views. I started stretching my money further and trying to help them out when I could. Maybe knowing how your debts have limited some of your choices might influence the choices they make (no offence intended).

Like your DS I also had a passion for travel and found ways to do this cheaply, working overseas for companies that paid for all your costs and living expenses, stints of working at home and selecting the cheapest accommodation and restaurants all helped fund further travel.

I also love your dreams of the good life. We have just made the move to somewhere more rural, by the sea and hopefully won't regret it. Like a previous poster said it has come with sacrifices - giving up higher paid jobs and leaving all my family and friends behind. We also moved country - to Northern Ireland, which is a beautiful, amazing place, with wonderful people and so much cheaper than England.

Good luck x