Time to Face The Music

RelievedSheff

100% the reason we are where we are is the boat. We never anticipated just how much it would cost to run, maintain and cost in "keeping up with the Jones's. Looking back now we can see that clear as day we couldn't realistically afford the lifestyle.

But we have no regrets. We have made some fantastic memories with that boat and made some great friends along the way. Now it is time to pay for those memories. 

We are hopefully now a bit older and wiser and will have our heads screwed on when it comes to buying, financing and running the van. It is time to make some more affordable memories. 

We also need to start planning for our future beyond work. We both want to retire reasonably early so we need to get the mortgage paid off ASAP and get our money squirreled away to enable us to do the things we want to do in retirement. 

enthusiasticsaver

I don't think it is ever too late to learn how to manage money and I agree that your posts come across as showing you to  being very disciplined now (not only with money but with food, exercise and house management) but you know yourself and your weaknesses and strengths so well done on finding a system that works for you to repay the debt and yet live a bit as well.  The debt is coming down fairly quickly and I know you have a few big ones to knock off after CC3 is gone but at least you have proved that your system works.  You also have a nice house, pensions, hopefully a lovely motorhome and cars so even though you have debts you have assets too. Late 30s is nothing, you have decades in front of you to enjoy.  I do  think it helps that you have an OH on the same page too.  Lots of people find that this is an issue between couples if one is more keen on getting on top of finances rather than just spending regardless. 

I often wonder what our financial position would have been had my Dad not instilled discipline in budgeting and saving from an early age and a fairly ingrained antipathy to debt even though he was a businessman.  He said we should make the banks work for us not let us be enslaved to them and that is a lesson I passed on to our kids.  That gave me a massive advantage and there are many on here who have passed on their pearls of wisdom to their kids hopefully and that will set them up for life. 

alt80

What I don't understand you could generate more income but choose not to? Seem happy without getting to the next level - keep climbing the levels and you could easily have the boat back, get a bigger one. There seems a lot of people the same as you on here and I know plenty outside of here too. 100% something I don't get. My in-laws are like that paid their mortgage off early, could have made additional income - chose not. Could have bought a higher value res home for themselves but choose to live where they do complaining about space rather than pay off a larger mortgage. They had 4 kids and I've got a substantially bigger house FML. This was all so he could finish his job earlier - all they do is a lot of sitting about watching a lot of films, few holidays, walking with grandkids / peak district which they love but won't move away from where they live because grandkids and nag family members to go to BBQs/ BS kids days like picking !!!!!! pumpkins lol. 100% where my wife gets her lazy gene from but both you and your OH work full time, seem to have some drive and have interests in better things than my in-laws do - no way would they buy a boat in the first place haha.

RelievedSheff

We can live quite comfortably with the incomes that we have. We don't want or need the stress involved with moving up a notch. It has been offered to us both at work and we have refused it. We are just content as we are.

Once the debts are paid off we will be even more comfortable. Once the mortgage is paid off more comfortable still.

There are far more important things in life than work. We work to earn enough to do the things we want to do and that is where work ends. We don't want work to be all consuming and we like that we can switch off from 5pm Friday until 8am Monday.

We could buy a bigger more expensive house I suppose, but why? There are only the two of us and the dog. This house is more than big enough for us and plenty big enough when we have guests stay over, when we are allowed of course! 

Sun_Addict

Totally agree with everything you say. As long as you have a good work/life balance, enough to pay your bills, a decent roof over your head and enough money to enjoy life, why stress yourself. Definitely more to life than work.

ladyholly

I was in my 60s before I realised that being in constant debt was not the way to go. Paid off my last credit card today. Its never too late to learn. Some of us are just late developers.

alt80

@ladyholly well done that's fantastic news. 

@RelievedSheff yeah don't get that wondered if I would being off the stuff but I still don't. Not really sure what level living comfortably is for me tbh lot more than I have now I think.

RelievedSheff

It will be a low spends day today.

We need to go and get some fruit and vegetables from the farm shop and we fancy a takeaway curry tonight for dinner. Breakfast and lunch will be from stores though. We will be having a breakfast wrap for breakfast and some cheese, crackers and pickles for lunch with some cold meats.

Not got much else planned for today. Will take the dog out for a long walk and one of the Ebay items finishes today at lunchtime. 

alt80

Similar weekend planned for me too. Looking forward to getting out with my dog- I haven’t managed to get out for many walks this week.

Lunch sounds good.

RelievedSheff

So much for the low spends day. We ended up at the garden centre this morning which was surprisingly quiet. 

Picked up a couple of large pots, some rosemary and a couple of plants for the back garden. £80 gone! 

We had planned to get some though so not unplanned spends as such. 

We had a good walk in the woods in the way back. The dog loved it. He is tucked up in bed now fast asleep.


One of the Ebay items has sold for a good price today. Need to get that packaged up and will take it to the post office on Monday.

Another item finishes tomorrow so will take that to the post office at the same time. That looks set to get an alright price as well.