DrSpendingLittle's New Home - staying accountable and responsible

DrSpendingLittle

Sarahwithlove said:

I know it’s. a bit of a pain having to try and put all that information in but by sounds of it would be worth while to give you a true picture of what was spent on what during that time. 

Hi Sarahwithlove, I know what the spends have been on and, to some extent, they were budgeted. The issue was I was using my credit card and then paying it off and I completely lost track of what money had moved where. I also used my credit card to buy all xmas pressies for both sets of families (I was the one who did the internet orders) with DF giving me the money for his bits and bobs. I just all got out of control and was difficult to reconcile. Add into that some sale shopping returns and, well, my head exploded trying 🤪 

I've done a start afresh budget in YNAB and the sense of peace logging on is now fabulous 😇

DrSpendingLittle

I can't seem to change the font, colour or font size on my signature. Argh!! Driving me insane!! 🤬

DrSpendingLittle

Right, brunch time (was a late night 🥱). I'm making banana pancakes as we have some very sorry looking bananas to use up and I fancy a bit of stodge. 

It's a fab recipe and only uses 4 ingredients (I never seem to have any vanilla essence in the house!). 

To make 6
2 x bananas mushed up in a bowl
2 x eggs, beaten in with the bananas
2 x teaspoons baking power, added after the above
6-8 tbsp of plain flour, added one tbsp at a time and mixed together to form a batter than covers a spoon
Drop into a frying pan (3 at a time depending on the size of your pan), cover and cook for about 3-4 minutes. Check for bubbles and flip over. Cook for a further 3-4 mins. Scoff. 

The key is to cook them with a lid on in a frying pan so the egg cooks through and they rise. Turn the heat down a touch than you'd normally cook them and keep an eye on them if you're using butter as that will burn. Delicious!  

redofromstart

These sound excellent!

DrSpendingLittle

redofromstart said:

These sound excellent!

They're really delicious! I have them with scrambled eggs 😋👩‍🍳

DrSpendingLittle

I'm getting used to the new forum now and enjoying being back on here. I wish they would introduce a 'top of the page' shortcut button so I don't have to keep scrolling all the way back up after reading a thread (if I've been on multiple pages) just to get to my bookmark button. Or am I doing it wrong? 

Having a cuppa whilst waiting for the laundry to finish then I need to hang it out and switch on the dehumidifier and do another load. Got a busy week of work ahead and I want to make sure I have as easy a time selecting work outfits. Helps if everything is clean and organised. 

I've been thinking of getting a cleaner. We struggle to keep on top of both cleaning and tidying during the week (we both work full time and commute for about 1 hour each way) and I'm fed up of it. I'm thinking of a few hours once a week, just to clean the bathrooms and kitchen and mop, hoover and dust. I think it'll also keep us disciplined with the tidying as I know the cleaner can only clean if the isn't a load of stuff everywhere. I've looked at a few agency places online just now for quotes and it seems to be about £18 per hour. Does anyone have a cleaner and how much should I expect to pay? I'm torn between going with a local one man band cleaner who wont have as much insurance / liability etc and an agency. A few hours a week would be around £160 - £180 a month between us which is affordable. 

What else? I think I've found everyones diaries that I used to be subscribed to. I must have a mooch on the DFD boards too so I can find some new ones to follow. I feel the need to stay inspired with frugal ways. Dinner is something with mince from the freezer. DF is in charge. Tomorrow is a DIY day. We moved some bits around in the house over the last few weeks as we've given away some furniture and some of the walls need freshening up before we market the house again. We've already got the paint so its only time that it will cost. We also have lots if niggly things to do like cleaning grout, replacing sealant in the shower etc etc. Again, we have all the things needed already so no spends required but its those types of bits and bobs jobs that take time. So, tomorrow is the day!  

DrSpendingLittle

Right, I've done an SOA as I find if I am completely open I am more accountable and responsible. It worked wonders for me on my debt free journey.

As before, this is my 'half' of life. Yes, food spends are ridiculously high but I am debt free and we are foodies 👩‍🍳👨‍🍳. What else? The bills are depicted as my half of what we pay. The house value is my half and the mortgage payment is my half. My salary is net of tax, national insurance, student loan (£174) and a 10.4% pension contribution (employer puts in 22.5%). I want to try and save £1,000 per month. I've included a cleaner cost to see how it works. My parking and fuel costs are averages. Holiday spends are high as we have two big ones planned and I need to forward fund the pots to pay the balances. After July, it'll revert back to about £200 (we live for travel). I'm doing a low spend challenge for clothes and I don't need anything, so that will remain at just £20 for now for emergencies / replacements. I've about 20 months left on my student loan I think, maybe less (will check after posting this). Next year I will shift onto direct debit and perhaps just clear it. My car is 7.5 years old and has had quite a bit of work done recently inc. new tyres, brakes etc so I am happy with £25 a month. I've already saved for this years car service (£200). MOT not due until September. That's it I think. Shout out if you see anything egregious ☺️

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 1

Number of children in household......... 0

Number of cars owned.................... 1

Monthly Income Details

Monthly income after tax................ 2513.18

Partners monthly income after tax....... 0

Benefits................................ 0

Other income............................ 0

Total monthly income.................... 2513.18

Monthly Expense Details

Mortgage................................ 227

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 70

Electricity............................. 17.5

Gas..................................... 17.5

Oil..................................... 0

Water rates............................. 20

Telephone (land line)................... 9

Mobile phone............................ 7

TV Licence.............................. 6.4

Satellite/Cable TV...................... 0

Internet Services....................... 9

Groceries etc. ......................... 200

Clothing................................ 20

Petrol/diesel........................... 60

Road tax................................ 2.82

Car Insurance........................... 25

Car maintenance (including MOT)......... 25

Car parking............................. 20

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 10

Pet insurance/vet bills................. 0

Buildings insurance..................... 5

Contents insurance...................... 5

Life assurance ......................... 0

Other insurance......................... 0

Presents (birthday, christmas etc)...... 50

Haircuts................................ 15

Entertainment........................... 50

Holiday................................. 430

Emergency fund.......................... 60

Savings................................. 1000

Now TV.................................. 1.99

Ocado Monthly Pass...................... 1.99

Union Fees.............................. 28

iCloud storage.......................... 0.79

Toiletries & Cosmetics.................. 19.19

Cleaner................................. 100

Total monthly expenses.................. 2513.18

Assets

Cash.................................... 4000

House value (Gross)..................... 110000

Shares and bonds........................ 0

Car(s).................................. 3000

Other assets............................ 0

Total Assets............................ 117000

Secured & HP Debts

Description....................Debt......Monthly...APR

Mortgage...................... 45500....(227)......2.5

Total secured & HP debts...... 45500.....-.........

Unsecured Debts

Description....................Debt......Monthly...APR

Total unsecured debts..........0.........0.........

Monthly Budget Summary

Total monthly income.................... 2,513.18

Expenses (including HP & secured debts). 2,513.18

Available for debt repayments........... 0

Monthly unsecured debt repayments....... 0

Amount left after debt repayments....... 0

Personal Balance Sheet Summary

Total assets (things you own)........... 117,000

Total HP & Secured debt................. -45,500

Total Unsecured debt.................... -0

Net Assets.............................. 71,500

DrSpendingLittle

The SOA format for MSE no longer works, so I've just tidied up the SOA and put a few bold markers in. 

DrSpendingLittle

I only have my student loan balance from 1st November 2019 (the system is crap and its time consuming to calculate current balances).  However, I did used a repayment calculator at the time and it provided me with the following details:

Outstanding balance on 1st November 2019: £5,601.75

Projected payments (accounting for salary increases): 2020 £2,500; 2021 £2,606; 2022 £661

That means I will be best going on to direct debit in April 2021 and making monthly payments myself. I may just clear it by year end 2021 and be done with it. Martin Lewis is adamant that there is no point in paying it off in advance as the interest is only 1.75%. My calculations tell me I'll pay only £165 in interest between now (well, nov 2019) and clearing the balance.  

DrSpendingLittle

Hello @wishingthemortgaheaway I'm using the snazzy name drop function to find you as I can't find you or your diary on this new forum ☹️ I had to change my user profile as the forum switch mucked up my account. Hope you recognise me ☺️ DSL