2020 - 'Nothing in your life will change until you make the decision to change'

jwil

Well we are now in Tier 4.  I'm actually a bit relieved as cases do seem to be going up rapidly.   It's rubbish for businesses though, and I know people struggle with it.  DH clearly won't be going back any time soon.  It's nice having him home but obviously the longer it goes on the more at risk his job will be.  We're just taking it as it comes.

I'm torn as I really want to get some work done on the house, but equally it would be much more sensible to have a cushion behind us in case he does lose his job.  I think I'm going to have to just try and maximise the savings until we've maybe got 6 months of income put away.  I will continue to pay down the mortgage too, as the lower that is the better position we'll be in in the future.  I'd like that to be at a level that we could remortgage on one salary if we needed to.

savingholmes

Sounds sensible to save EF. I'm pressing on with debt repayments because we should be able to survive on one wage at a push.

NeverendingDMP

It's a tough one isnt it, get jobs done whilst you can to help business and get organized used or be worried about spending anything in case you end up with not much left. We have gone in tier 4 as well which means I'm either faking being a hairdresser again or letting the kids go feral. At least we had good news about the vaccine to soften the blow.

jwil

savingholmes said:

Sounds sensible to save EF. I'm pressing on with debt repayments because we should be able to survive on one wage at a push.

That sounds good. We could survive on my wages, but there's a chance my job will be at risk in the next couple of years, so I'm conscious about that as well.  I think just having some savings will help, and then I can go back to getting the work done.  I don't want to completely empty the pot.  I'm sure I'll soon change my mind though!

NeverendingDMP said:

It's a tough one isnt it, get jobs done whilst you can to help business and get organized used or be worried about spending anything in case you end up with not much left. We have gone in tier 4 as well which means I'm either faking being a hairdresser again or letting the kids go feral. At least we had good news about the vaccine to soften the blow.

I really want the house done.  I hate living in a 70s reject.  However, we've still got further to go with decluttering and so it will all be easier to manage with less stuff.  We really need to sort the electrics though.
Great news about the vaccine though, it's a real hopeful sign!

jwil

Payday today, hurrah!  I'll sort out the finances later.  I've done the initial shuffle around.

I had an email from swimming saying they are closed now, but the announcement was too late to stop the DD.  Annoying as that £46 would have been nice in my pocket!  I'll get a 'free' month when they reopen though so it all balances.

Dh has a few things selling today, so I'm going to try and pack them ready so I can print postage later as it's the last day of the half price postage offer on ebay.  It all adds up!  Hopefully people will pay promptly (who bets they won't!).

jwil

Finances 2021.

Debts:
1. £8,153/ £8,144

2. £3,754/£3,750

3.  £1,856/£1,854

4.  £4,726/£4,720

Total: £18,489/£18,468

Car - £1,000/£900

Mortgage - £108,099.83/£107,806.07

Savings:
LISA: £352.24/£380.25

Premium bonds £175/£200

Emergency fund: £13.18/£40.72
Cash Buffer: £120/£180

jwil

I'll update the declutter list later in case of last minute additions!  I've already sorted through my clothing and put a load out to go.

savingholmes

It's good to have a savings buffer. Removes a lot of pressure. 

HairyHandofDartmoor

I think a £1000 savings buffer will give you peace of mind and any house savings could be used in an emergency. Peace of mind is worth it's weight in gold. I have an £1000 EF currently,  but would like to save an additional £6000 so we have three months loss of income cover.

I hope your buyers pay soon. Happy new year's eve 🎉🎉🎉.

beanielou

I think a savings buffer is a fab idea.