What the hell have we done

Aaleigha

there are major changes coming into our lives in the new year

well they did begin at the end of november but they are for real

and bigger in the new year

we have lived with huge debt in our lives bought a house on 100% mortgage in the '80s then nearly lost it when the mortgage interest rate seemed to go up over night - thanks dad and mum for the food parcels
then came our first credit card - high interest but some months we ate or paid the mortgage
so of course our two children and we survived
for many years on two salaries

then I had major health problems and lost my job (did take them to tribunal and won.

and now after 30 years we have taken on debt

our assets will increase by a huge sum

we have paid off our existing house and we are retiring to wales and have (well about to sign contracts)

its a four bed cottage and three bed annex (for visitors and occasional holiday lets to help out with money we saved for ages for it

due to my health I am on ESA and my husband has just retired we know the state pension amount but unsure of the exact amount in private

our 'son' is renting this (well buying it with no interest) he came to us at 18 as homeless and been with us on and off ever since and this was his happiest home so that will help the pension

but to do this we have had to get a 45,000 mortgage over 5 years
this having been debt free and managing to save 152000 towards the new property is scary on such a reduced income

will give more infor as I get figures

I will also write out how we budget and what has worked firstly for my dad then for us for many many years

hope you are all having a wonderful day no matter what your circumstances
H

parsniphead

An exciting future ahead. Wishing you all the best. Merry Christmas.

Aaleigha

thank you it is a huge thing for us to do partly we are doing it for my mental health and partly because that is where we want to be

tomorrow is a day of collecting as much data as I can as gas and sewerage are of grid I will have to assess what these might be also the same for heating oil we will only have electric and mains water on grid

in_need_of_direction

How brave and inspiring. You can totally do this.

Choccygirl123

Sounds like exciting times for you. A little cottage with a holiday let sounds like a great way to spend retirement and add some income. Good luck with your move aaleigha x

Aaleigha

Choccy girl 123

thank you

I just wish I knew all the figures for the coming month

somethings up and coming I cant even guess at - how much it costs to run a multifuel burner
how much heating oil we will need a year for water and heating
how much it will cost to have a septic tank emptied even down to how much electric will cost as at the moment I cook and heat using gas

the annex uses bottled gas for heating and hot water and has a key meter so lots to learn about that as well

I am just going to save every penny I can between now and moving
this way I can at least start to learn to live on a reduced income

yes exciting but also scary times ahead

mumtoomany

Bora Da, (you may as well start learning the basics). We did similar to you five years ago. Moved from suburbia, both with "proper" jobs where we earned money. We now have a smallholding in south Wales. Many sheep, chickens, geese and occasional pigs. Also two grown up daughters, one son in law and three grandchildren. We now live on next to nothing, annual income around £10,000. But we are happier than we have ever been. Best move we ever made. Good luck, it will be worth it. M2m.

Choccygirl123

Hi Aaleigha,

Thank you for massive kick up the rear and the virtual glass of wine! It's easy measuring success using numbers, especially when paying debts off and the number decreases. I was gutted to see we'd made such a small debt in ours this year.

However, you've reminded me that success can be measured in other ways too. Thank you! I think my great achievements of this year are budgeting and meal planning. They'll keep me on track to cracking the debt in months to come!

You've got a scary, but exciting few weeks ahead. I'm sure you'll soon adjust to your new budget and new life in retirement. I am so excited for you and I'm sure 2019 will be the start of an amazing new adventure for you.

Choccy x

redofromstart

Happy new diary, and good luck with what sounds like a very exciting adventure!

Aaleigha

mumtoomany wrote: »

Bora Da, (you may as well start learning the basics). We did similar to you five years ago. Moved from suburbia, both with "proper" jobs where we earned money. We now have a smallholding in south Wales. Many sheep, chickens, geese and occasional pigs. Also two grown up daughters, one son in law and three grandchildren. We now live on next to nothing, annual income around £10,000. But we are happier than we have ever been. Best move we ever made. Good luck, it will be worth it. M2m.

Shw Mae? I am trying
we are moving to just north of Camarthen is that anywhere near you - I will be round for eggs
if you get too many family visiting I have an annex that could be empty so they can stay there - asking pultry sum as its for family and friends and its only for upkeep

we did want more land and this is NOTHING like my dream had been but veiwed and that was it I fell in love

today I did my estimated budget and as we live day to day know what cash I need for the month and what has to be moved for the sinking funds tight this month but managable - just had to tell hubby not to use lloyds if he wants any cash it will have to come out of my nat west cant wait to get the B***** pension amounts in for the first month so I know what we will actually have to live on

thanks for the support everyone - I feel better now I have done a budget but I bet it all goes pair shaped we are bound to move mid month (we are down to signing contracts then complete as soon as poss I really cant wait to move from here
I know wales will be much better for my mental heath

hope you are all well

mumtoomany

Hi Aaleigha, yes you will be quite close to us. I will private message you exactly where we are. Don't want the whole, virtual, world to know my address.

Septic tank, see if you can get a local farmer to empty it for you, usually cheaper. If you have a water meter as well, you will save a lot on water rates. Our water bill is around £250 a year. Don't know a lot about oil, we heat with bottled gas. That is quite dear and the bottles very heavy. You may want to look into a tank, we are planning to. M2m.