New Life Pending.....

Moneywhizz

Only you can decide. Personally I would just put up with it for another week rather than add to your debt. You have worked so hard to build up the emergency fund, and I would definitely grudge using it up for something I could avoid. If it is really unpleasant at work though, I can understand how tempting it is just to get out of the place,

enthusiasticsaver

Whilst I understand you not wanting to use the emergency fund I would be hesitant to use the credit card to live off . Can you not reduce the emergency fund to £500 and then if you need to use the credit card at the end of February to tide you over until you get your first months pay? That would be my preferred option rather than increase the debt.

I would also urge you to research the idea of buying a BTL in another town because it is too expensive where you live. BTL comes with its own challenges like late rent payers, tenants who trash the property, the tax implications for BTL and the problems with maintenance when the property is a long way away from you. Check out the property board but BTL is something we always shied away from because all we heard were horror stories. I would rather invest in stocks and shares if buying a house for you to live in wasn't an option. How long would it take you to save up a deposit for a property near you? Can you look at shared ownership or moving further out?

Iwantanewlife

Hey ES, my family have lots of properties all over the UK, so it’s something that I can pull on a lot of experience for. We have recommended agents etc. Thank you for the heads up though and I will definitely check out the board.

Iwantanewlife

Ok, so I’ve pulled on my big girl pants, as much as I hate this job, I have come so far money wise and I’m not prepared to jeopardise that. So begrudgingly I have decided I will stay and work and get the money.... I promised an MSE future and the leaving alternative is a decision I would of made before and not cared about the consequences.

darrannah

Congrats on the job front I think I would do the same as you and stay for the week, I would be so annoyed if the job I hated was responsible for the guilt I’d feel after coming so far financially....good luck with the new job x

bd80s

Hi


I think you have made the right decision too, it's only a little bit more time and would take longer for you to pay off anything you put on the credit card than putting up with the rubbish job for a couple more weeks.


You can have a countdown of days to help spur you onto the end and then feel total satisifaction when you get to the last day!

enthusiasticsaver

Good decision I think. Rather that than leaving yourself more debt to clear. Also why should your current employer get to save money by you leaving early when they were so uncooperative about making you work your full notice.

Iwantanewlife

All very good points, thank you for the support as always. 2 weeks, 4 days, and definitely counting!!

Iwantanewlife

Hey Guys, just a little check in. I havnt fallen off the MS bandwagon, however work have taken back my laptop and phone and so it’s been harder to check in. They’ve finally agreed for me to go onto gardening leave next Wednesday, with shortened hours until then as I’m literally sitting reading my book all day which is pointless for all parties!

Today is supposed to be pay day but as you know this month they aren’t paying me until my leave date on the 30th. I only have £60 to last me until then so the CC is going to have to be used for fuel/food I’m sure, however, not as bad as I thought and i still have my EF intact. All in all good news, and I’m pleased that the damage hasn’t been too bad. Next month will still be a week short of pay as I don’t start until the 10th however, as all my bills are covered from my last pay here it’s only one more month of struggling. I’m still aiming to get through this with £1k emergency fund and still no more than £2k total debt.

As soon as my March pay comes I will hammer the last bit of CC debt, and will start the mission of saving!

lucielle

All sounding good. Enjoy your gardening leave.
L