New Life Pending.....

Moneywhizz

Thank you, yes I've had a good time over the holidays. Still have family staying with us from abroad, normal service resumes soon! Looking forward to hearing the results of the selling spree.

enthusiasticsaver

Happy New Decade to you and what a great start. A full EF, in budget, new job and a stash to eBay and earn some money and declutter at the same time. Hopefully you can start the debt busting again in February or March and am pretty sure you will get rid of that fairly quickly.

Iwantanewlife

Thank you ES! Happy New Year to you too. I think its going to be a good one.

I think debt busting will resume in March if im going to be realistic. I think my CC will be at about £1800 by that point, so if i really knuckle down that should be gone within 6 months. Ive told my family over the break that there will be no big holiday for me this year, although i would like to see if i can fit in a couple of city breaks over the year.

So my new plan! reference house saving: As we have all discussed many times, London prices are crazy and to get a place to fit my son and i i will need at least £35/40k deposit. So what im going to do instead, is save £10k and buy a flat to rent out up north (ive been researching Liverpool/Manchester/Birmingham way) I will then use the flat later down the line, and teamed with savings to buy somewhere down here. I am going to put this on a rough 5/6 year plan. Within that time, my income (hopefully) will continue to rise, debt level will be non existent, have an asset to use towards the deposit, and will have a clear credit file to get the best possible mortgage deal. As its going to be later in life that i buy the house, so to speak, im going to need to make sure i over pay as much as possible so i can keep the term down and be able to plan for a comfortable retirement.

Iwantanewlife

Good Morning All

So as i said yesterday, ive spent some time re jigging my finances, and have managed to make it balance without ebay. Ebay will still be happening but at least not as a drama like before. Stupidly, i had entered the wrong car payment in, so was using an extra £50 there. My first car payment is higher than the remainder of the term as it included an admin fee. Things are still going to be VERY tight, but a lot better than i originally thought. I have also managed to allow for £70 saving too. This will go in the 'cover pot' for next month.

Iwantanewlife

Not all good news, my friend has just phoned, they have just received a £60 parking ticket for where we parked on boxing day - didn't even think it would be chargeable on boxing day! no doubt a ticket heading my way very soon....

girlatplay

Well that's a kick in the teeth Good example of why an emergency fund is needed (I know you know that).

You're still doing amazing though. Chin up x

Iwantanewlife

So little update on the work front. They have finally employed somebody, and they are starting on Monday which means i could ask for early release. Problem with that is I obviously wont get paid for two weeks, so do i suck it up and stick in the job that i hate OR take two weeks off unpaid, live frugally but will inevitable run up a bit of extra debt, but be happy and finally get away from this place!

I can start my new job a week early, so will then next month have a near full months pay rather than losing the week i would of done.

Opinions please?

PurpleFairy26

I would get out of there. You’ll balance the books.

Iwantanewlife

Thats what i want to do Purple Fairy, but i think i will be paid so little i dont even know if it would be possible without putting me straight back to square one!

Iwantanewlife

ok, ive just done the sums. I am currently £100.84 short if I leave next Friday, in paying all my bills from my wage. Leaving roughly £500 needed to be covered on the credit card for living expenses (food/fuel etc) An option would be to pay two of my bills on the credit card too meaning that by the end of this i will be a further £600 odd in debt.

I do have the £1k in my emergency fund. This is the first time ive had any sort of cushion and with the car now, i really feel like i need to hold onto it as a safety net.