Champagne Lifestyle on a Lemonade Budget.

Wednesday2000

mrs_slapshot said:

Lockdown made me more determined than ever to pursue my path to financial independence, hence me going for this house. I have doubts whether I'm doing the right thing (especially when I look at my ensuite...) but I know that it's not going to be my forever home, and every time I have visited it's felt 'right' - and so I am going for it. 

What is your plan for FI? You might have said it before but I've forgotten.

Wednesday2000

I should think about FI too. I read the market went down 20% this year due to Covid so I don't know what that means for our retirement plans. My husband has to talk to his work pension adviser but he can only do that when he turns 50 which will be, oh, next month now. This year seems on one hand to have dragged being stuck indoors but on another hand the months seem to be flying by. It's quite bizarre!

I'm starting a healthy eating plan next week as I thought I would leave myself the weekend as I have food at home to use up first. I haven't gained any weight but I feel unhealthy (in fact I have lost a bit this year) but I have been drinking too much wine in the evenings. It will hopefully make my days feel a bit more structured.

I'm off to sit in my chair to read my other magazine that arrived yesterday and make another cup of tea. I'm starting to eat more healthy as I had a PB cocoa smoothie for breakfast and I'm having marinated mushrooms on toast for lunch.

joedenise

My DH's pension pot lost quite a bit at the start of lockdown but is now back to about the same level as it was before.  Of course without lockdown it would probably have grown but at least it has caught back up with what it was and hopefully will continue to grow.

Wednesday2000

joedenise said:

My DH's pension pot lost quite a bit at the start of lockdown but is now back to about the same level as it was before.  Of course without lockdown it would probably have grown but at least it has caught back up with what it was and hopefully will continue to grow.

Oh, that is interesting. My husband usually gets his pension statement sent to us around this time of year so I will have to compare it with last year.

joedenise

My DH has already retired and has a draw down pension so only uses some of it when we need to do things to our bungalow - over the last few years we've had a new kitchen, new bathroom (replaced bath with shower so we don't have to climb into bath for a shower any more!), extra insulation and new tiling throughout the main parts - kitchen, bathroom, living, dining rooms and hall.

Good idea to compare with last year's statement.  We're able to check DH's pension pot whenever we want to but usually see how much it's "grown" each month.

superstarjeans

Hi everyone, new to this thread so hello! I just discovered a designer clothes rental service which had a special offer on for 2 items for £34 a month for three months (two new items every month). It was a real champagne moment for me to wear a lovely new posh frock today. I also got a blazer. The website is www.onloan.co Not an ad! Just thought it was a great idea, good for environment & I get bored wearing the same stuff after a month too so win win! I have a £25 off code if anyone is interested x

mrs_slapshot

sheilavw said:

Hope all goes well with the move Mrs Slapshot. I have been in my home almost 32 years. I wouldnt know how to pack it up! need to clear the loft I think!

Clearing the loft was something I put off for ages...the photos in the survey report were very embarrassing! I had thought the main problem was the 11 suitcases, but the quilt and pillow volume was another issue! 

mrs_slapshot

Wednesday2000 said:

mrs_slapshot said:

Lockdown made me more determined than ever to pursue my path to financial independence, hence me going for this house. I have doubts whether I'm doing the right thing (especially when I look at my ensuite...) but I know that it's not going to be my forever home, and every time I have visited it's felt 'right' - and so I am going for it. 

What is your plan for FI? You might have said it before but I've forgotten.

It's a very loose plan...I have some money which was in a previous company pension scheme that I moved into a SIPP about 5 years ago, and I've also got some benefits in the LGPS from working in the school for 4 years. I've now been paying into my current employer's scheme for a year.  Moving house means I will knock £30K and 3 years off the mortgage, taking it down to £82K and 9 years (and I started again after my divorce 8 years ago with a 23 year mortgage). I've been overpaying £120 a month for a few months, and I aim to pay it off completely in 5 years as my car lease comes to an end in July so I can throw that money at it. At that point I will be 60 (god willing), and I want to be able to choose whether to work for an employer or not. I have been trying to build up my side hustle of a blog for about a year now (that's why I went to Palm Springs in March, to a conference). If I dream big enough, I will make money from my side hustle, and pay the mortgage off even earlier. Then I could switch to putting all my energy into that and draw what I need from my personal pension. I can draw from my company pension schemes at 67, plus I will get the state pension then (I will hopefully have a few years in my current employer's scheme plus the 4 years in the LGPS).  Well, I could actually draw from the company schemes earlier than 67 but if I don't need it, all the better.  I know owning a house isn't necessarily strict FI, but it's important to me to have a home that I own.  

Wednesday2000

I hope it goes well Mrs SS. I read about a book that might interest you regarding your side hustle. It was on Monevator's blog this weekend. It's called Just F****** Do It: Stop Playing Small. Transform Your Life - Noor Hibbert. It's the number 1 best seller on Amazon in starting a small business.

helensbiggestfan

Hello my lovely friends

wednesday.......thanks for the book recommendation.  Just read the reviews and have decided to order it.  I have also ordered "Stuffocation". Borrowed it from the library in the past but really want to reread it again to help me with my decluttering efforts.  I got used copies of both books for just over £11.  As you may have gathered I am on a quest for personal development and want to make some serious life changes in the next couple of years.  

Like Mrs S and  Wednesday I want to move house and embrace a new lifestyle.  I definitely want to downsize and free up both time and money so I can have more experiences and adventures.  Covid has delayed my progress somewhat but on the plus side it has given me some thinking time and has helped me get a clearer picture of how I want my life to look as we move forward.  Covid won't last forever and I'm looking forward to embarking on a new life when it's over.  Still not sure quite what kind of property But definitely something easier to manage and something which I can "lock up and leave" for extended periods whilst I go travelling.  

I have had some lovely champagne moments with my family this last  week. I had a sleepover at my sons house on Saturday.  Made a lovely change.  A nice little mini break. 😂.  I Introduced my GS to the joys of Strictly......he loved it and we had great fun dancing along.