Getting it together...one £ at a time!

Homegrown0

Mid-month money update
Paid to savings today - £200
Paid to CC1 today - £300
Topped up spending account today - £50

Current total for DFD challenge - £3,821.60 / £10,000 (38.2%)

It's nice to make some progress

abba1772

I think the motivation to pay of the loan for the home renovations once they are complete and your sitting in the space of your dreams will be beneficial xx

Homegrown0

abba1772 wrote: »

I think the motivation to pay of the loan for the home renovations once they are complete and your sitting in the space of your dreams will be beneficial xx

That's what we're hoping for Abba! I think the fact that we'll still be able to save, not compromise our day-to-day lives and still afford to do other bits to the house while paying off the loan seals the deal. We always knew that 2020 would be the year things would happen and it's been a long 5 years putting up with a house that just isn't functional so now it's drawing closer we can start planning.

As I've mentioned a million times on here, my youngest starts school next year so we'll be saving a really good chunk on childcare costs and our loan finishes in January so we've been gearing up, ready for this and clearing the credit card decks, as you know.

We can do this! :j

Choccygirl123

When hubby and I bought our forever house, we did talk about renovations as positive debt. Yes, it's still debt but it's making our house the home we dream off. It's a balance and for us we borrowed and spent more to save money in long run. You're doing so well HG
X

doingitanyway

Is the bathroom one of the renovations?

Homegrown0

Choccygirl123 wrote: »

When hubby and I bought our forever house, we did talk about renovations as positive debt. Yes, it's still debt but it's making our house the home we dream off. It's a balance and for us we borrowed and spent more to save money in long run. You're doing so well HG
X

Thanks for your insights on this Choccy - i think it's sometimes difficult to reveal the fact you're on here clearing debt just to take out more, but there's a reason for it and you're right. To me, this is positive debt. Although we don't plan to move, the extension/ renovation and ongoing work to the house will add significant value to it so if we were ever in a position where we had to sell, we'd be in a good position.

The debt we're getting rid of is part overspending and unexpected expenses (through sheer disorganisation and not thinking ahead) and part house improvement (we got our driveway and drainage all done years ago to prevent further water damage) so once that's gone, our only remaining debt will be home improvement and that's how i want it to stay. I feel really positive about the whole thing.

doingitanyway wrote: »

Is the bathroom one of the renovations?

I wish it was! We will be doing our bathroom at some point, but it won't be part of what I like to call "phase 1" of the works. It's a bit further down the list of priorities but we'll hopefully get to it in the next couple of years. We have an original 1980s bathroom suite, with a non-functioning whirlpool bath and an original 1980 shower that's more of a drip than a shower. :eek: It'll be nice when we can finally get round to replacing that.

What are your plans for the bathroom? My husband sees a lot of these in his job so if you have any questions, i can ask him?

Homegrown0

Also cashed out £11.22 from Prolific today (thanks to the good old £9 survey that popped up on Wednesday) so once that clears i'll transfer to CC1. That'll bring my total to £3,832.82 paid off this year so far.

We're just short of 30% of the way through the year and I've paid just over 38% of my target. Need to keep ahead of the curve on this so that the leaner months can be buffered a bit.

My husband got paid a little extra that he was owed yesterday and normally I'd throw that into our savings account but i think he's put it in his wallet for now. he's a busy guy but has Easter Sunday off so i think we'll use that for a family Easter treat.

teafor2

Hi HG Just popping in to wish you a Happy Easter weekend. Hope your boys enjoy the Easter Bunny visiting them. xx

Homegrown0

We've had a lovely Friday so far - the gorgeous weather meant that we spent most of the day outside walking which was great. I'm looking forward to the rest of the weekend, and might even crack the BBQ out tomorrow if it stays nice!

Hope yours is lovely too!

doingitanyway

I hope the BBQ happened.
Thanks for the picking DH's brains re bathroom although you may regret saying that
Happy Easter.