New Life Pending.....

Iwantanewlife

Thanks Enthusastic Saver - I was thinking exactly the same

Purple Fairy - Thank you so much for the detail, that's amazing. I currently drive a 66 plate Audi A4 with emissions of 111?? I did ask about how much this cost me in tax and it was about £270 ish i believe. The BMW will be at the same level.

I think im going to stick with the company car, at the moment although the tax is high, it does come with security which is all im after at the moment!

Moneywhizz

Good to hear that things are moving forward with the new job. Sounds like you have made your decision regarding the car. It is hard to know what the best thing to do financially would be between the two options but in your circumstances peace of mind and security is worth more than financial gain. When you are in a better position with a good emergency fund then you might want to reconsider but that is a while in the future. As you already said it would delay your saving for a house deposit so all these things need to be considered. Is there a salary increase with the new job? Would be exciting to be make a new budget when your debt is gone and you have a bigger salary.

bd80s

Hi


I just finished reading your diary and think you've done a great job. I'm enjoying reading a few peoples diaries that are really helping me with my own journey.


A while ago I think you were asking about possible pay day loan refunds? I got to breaking point in June having been trapped in a spiral and after hitting that bottom and making payment arrangements with all the companies (7, I know, all my own fault but if even one had refused to lend earlier I would have had to have woken up to the situation) I put in claims to them all, to date I have received refunds totallying £8k in interest I have paid which has really helped me bring down debts. If you havent already it is worth putting a complaint in, worst they can do is say no...........


Good luck continuing with everything though

Iwantanewlife

Moneywhizz wrote: »

Good to hear that things are moving forward with the new job. Sounds like you have made your decision regarding the car. It is hard to know what the best thing to do financially would be between the two options but in your circumstances peace of mind and security is worth more than financial gain. When you are in a better position with a good emergency fund then you might want to reconsider but that is a while in the future. As you already said it would delay your saving for a house deposit so all these things need to be considered. Is there a salary increase with the new job? Would be exciting to be make a new budget when your debt is gone and you have a bigger salary.

Yes, pay rise equals £10k, however it does mean that i will no longer be entitled to the Child Benefit as i will be way over the threshold. To be honest ive hated this job for so long, im really excited to have a fresh start for a new year. This year has been horrendous, so im really pleased to be starting the year with far less debt, a new financial sense, new job and new goals!

Iwantanewlife

bd80s wrote: »

Hi


I just finished reading your diary and think you've done a great job. I'm enjoying reading a few peoples diaries that are really helping me with my own journey.


A while ago I think you were asking about possible pay day loan refunds? I got to breaking point in June having been trapped in a spiral and after hitting that bottom and making payment arrangements with all the companies (7, I know, all my own fault but if even one had refused to lend earlier I would have had to have woken up to the situation) I put in claims to them all, to date I have received refunds totallying £8k in interest I have paid which has really helped me bring down debts. If you havent already it is worth putting a complaint in, worst they can do is say no...........


Good luck continuing with everything though

Awww thank you for taking the time! I hope my ramblings didnt bore you too much :rotfl:

I did and all of mine were rejected. To be honest, I didnt want to take it any further. Im going to put it down to a good lesson learnt instead. I have so much going on, that to take on anything else was just too much for me at the moment. I chose my sanity over the fight :rotfl:

£8k though! thats amazing, i hope its really helped you on your journey.

Iwantanewlife

New life really is pending.....

So its official i have resigned! feels good to be honest, like a weight has been lifted.

Money front - not much to report, pots are low as i head into the last week before i get paid, however, enough to cover everything as long as i dont set a foot out of the plan. Still havnt touched a credit card since me LBM. Actually looking forward to the new year to set a budget that includes a monthly save for xmas etc. This budgeting lark is amazing!!

Lemon_Tree

Wahoo to resignation, countdown to new job now commences ��

Iwantanewlife

yay finally finished '20 cogs' £75 pending (takes 30 days to complete) - Will go straight off the card next month.

Happier_Me

Hi Iwantanewlife

I've just read through your diary and what you have achieved in such a short space of time is amazing.

I thought I could be sensible with money when I knuckle down to a plan, but you really put me to shame. I don't think I've ever seen anyone switch off their spending as quickly and as dramatically as you have, so a massive well done!

In respect of the new job and loss of child benefit, this may be one for the future, as you have other financial priorities now, but your income for child benefit purposes is your 'adjusted net income'. You can reduce your adjusted net income by increasing your pension contributions, which will also save you 40% tax. It's worth working out what your adjusted net income will be in your new role to see how much over the threshold you are for child benefits...and how much it will cost you to increase your pensions contributions (bearing in mind tax savings) to keep your child benefits.

It's just a thought:D

Iwantanewlife

Awww thanks Happier Me, despite the good news ive had recently, ive actually had a pretty sh**ty week (think i can blame hormones lol), and your comments have made me smile x

Thanks for the advice ref CB. Im an absolute idiot when it comes to things like this, tax and 'working things out' completely confuses me so any ideas and suggestions are so warmly welcomed! x