The Piano Diary

glass_half_full

AgathaSquirrel said:

It sounds like things are coming together for you. I agree a second opinion on your modelling is a good idea at this stage.

Although it may seem like a step back for your son, from everything you’ve written, it sounds like the best solution for the moment. A bit of breathing space to build up funds and focus on next steps.

Hi @AgathaSquirrel, yes we are looking forward to having him home and hopefully it will help him to regroup.

savingholmes said:

Yes I did mean Robin. Sounds a good solution on your son and debt clearance plan. Holding the promotion application go?

Ai could probably check your workings out

Hi @savingholmes, thanks. On the promotion, things move slowly but there is a meeting mid March and I should hear something then. 

glass_half_full

Dear diary and all,

DS came over for dinner the other night and we caught up. He will be giving up his flat and moving back home by the end of the month. He will also be bringing over his cat. He and his GF rescued a cat and although not strictly allowed by the landlord they have been looking after him. Not sure how this is going to go down with our existing cat who is king of the castle. We will have to keep them separate and then introduce them to each other gradually. One of the upstairs rooms needs the ceiling repairing. About a year ago we had the roof repaired over this room. The ceiling also needed repairing but we never got around to it. With DS coming home, I want to get it sorted. My go to builder/decorator has come out to quote for it. He is very reliable and did our kitchen bathroom and downstairs loo. Not sure how much this will be but let’s see. Still aiming to pay down the credit card as soon as feasible.

glass_half_full

Dear diary and all,

I would normally be out at park run on a Saturday morning but I have a little injury so having to sit this one out. I will be going to the physio on Tuesday to find out how to rehab it. Yesterday I received an offer in the post from one of my CC companies for a zero fee, 12 months interest free balance transfer offer. So I have transferred most of the balance of my main card to this one. So I now have £1500 on my main card and £11,500 on this other card. This is good as all of it is now on zero %. Last night spent some time building a plan to pay off all the debt over the next few months. I’ll start with the Credit Cards first, and then move on to the loan which is £18k. I feel motivated to pay it all off. Will keep a track on here and report progress.

Current balances:

HSBC card - £1500

Sains card - £11,500

Loan - £18,000

I have redistributed the pension fund across three funds, one is a liquidity fund (cash and bonds), one is a UK fund and the last one is the mainly US fund. This is just to spread the risk a bit now that it has reached the target.

I have chased one of my old DB pensions from an employer (1998-2004) so hope to hear about that soon.

DS is coming over on Sunday night. He will be moving back with us soon.

savingholmes

Sounds like you are very organised. All the best with the building works and the return to the nest of your DS and cat.

LadyWithAPlan

All sounds great and focused ! 

I have a small DB myself so what with that and SP I am keeping my SIPP in stocks I. Various Van funds - don’t feel I need bonds and ‘safer investments ‘ as I get older as my DB then the SP provide that 

on your DS your OH sound s v wise and you have obviously recognised there is more budget /financial wisdom for him to learn and at least you are able to teach him which is a great gift - having him home will help ! 

.I am trying to get my DN to save towards his house deposit.. he earns well but spends loads . And he is relying too much on fact he will have a bank of mum house  deposit so whilst I have got him organised on taxes etc (also SE) by teaching him Quickbo**ks and setting it up for him over the last few years - on the savings he still has his head in the ‘let’s spend loads ‘ .. 
I made him set up a van SIPP but he only put a small amount in so far .. I am
being patient but leading a horse to water and all that … 

glass_half_full

savingholmes said:

Sounds like you are very organised. All the best with the building works and the return to the nest of your DS and cat.

Thanks @savingholmes. DS is back with us for a couple of days and there is more energy in the house. Kind of reverse empty nest syndrome! We will have to reorganise a few things so that he can move back in and OH can relocate her office downstairs.

LadyWithAPlan said:

All sounds great and focused ! 

I have a small DB myself so what with that and SP I am keeping my SIPP in stocks I. Various Van funds - don’t feel I need bonds and ‘safer investments ‘ as I get older as my DB then the SP provide that 

on your DS your OH sound s v wise and you have obviously recognised there is more budget /financial wisdom for him to learn and at least you are able to teach him which is a great gift - having him home will help ! 

.I am trying to get my DN to save towards his house deposit.. he earns well but spends loads . And he is relying too much on fact he will have a bank of mum house  deposit so whilst I have got him organised on taxes etc (also SE) by teaching him Quickbo**ks and setting it up for him over the last few years - on the savings he still has his head in the ‘let’s spend loads ‘ .. 
I made him set up a van SIPP but he only put a small amount in so far .. I am
being patient but leading a horse to water and all that … 

Hi @LadyWithAPlan, yes I am only moving to 'safer' as I approach 1-2 years away from retirement. Its great that you are advising your DN with your advice. I am sure he will be hearing you even if it doesn't always seem like it!

glass_half_full

Dear diary and all,

Builder has come back with quote of £1000 to replace the ceiling in the upstairs room. This will be done in 2-3 week’s time. DS will have moved back in by then so there will be a bit of juggling. He will have his old bedroom back plus this room and the upstairs bathroom. I should have done this a while ago when the roof was repaired. Not for the first time, someone coming to stay has caused us to get work done that is overdue. Having the ceiling done may lead to having to redecorate and recarpet too. I have set this money aside and also kept the £1000 emergency fund untouched. Relocating of OH’s home office downstairs is also required. Pay day is next week and I will pay off one of the credit cards and then focus on the other one.

savingholmes

Sounds like good progress in continuing. I think having others in our home prompts us to look at it with fresh eyes for good or bad.

glass_half_full

Dear diary and all,

DS has moved back in with us. I went over to his flat on Friday evening to help him with some of his things. We also brought over his cat. The cat is currently in one of the upstairs bedrooms and our cat is downstairs. We are about to take his cat to the vet to have him checked over as we are concerned about his general health and we want to be sure of his condition before we let the two cats interact. It is nice to have DS home and I think it will help him to reorient himself. I have booked a half day on Friday to help him empty the flat of all the other things remaining and return the keys.

On the money front, I have been paid and I have paid off one of the two credit cards. Although some costs will go up with DS living with us, overall outgoings will go down as we have been helping him by subsidising his rent. He can also save some money.

Current balances:

HSBC card - £1500     £0

Sains card - £11,500

Loan - £18,000

EF - £1,000

glass_half_full

Dear diary and all,

It has been a busy week. We took the DS’s cat to the vet. He has some kind of ongoing respiratory virus causing sneezing etc (the cat not DS). The vet did a blood test for other viruses and we will get the results soon. The vet has said that the respiratory virus might transmit to our cat. We are having to think about how we will deal with this, it may mean we can’t let them interact and we may need to rehome cat number 2. We are exploring options, one of DS’s friends has expressed an interest, lets see. These various vet treatments cost quite a lot of money, around £175.

Went to DS’s flat today and removed some furniture and items and took to the tip. At least 2-3 more visits I think will be required before keys are handed back mid March. We are part way through the reorganisation at home of rooms etc.

Money wise things are ok. I’m glad to have paid off CC number 1. Will be good to get onto CC2 aiming to clear it by July