First Steps to Solvency
Updated this with Feb-21 balances - new start lol. Personal only, no business/ property held in spvs.
Feb-21 Balance Value LTV
Jul 21 0% - C1 £6,320.00 £-
Jul 21 0% - C2 £1,185.00 £-
Jan 22 0% - C3 £6,450.00 £-
Oct 22 0% - C4 £11,080.00 £-
Overdraft £2,345.00 £-
Range Rover £90,400.00 £85,000.00
BMW £34,950.00 £27,500.00
Total Debt £152,730.00
Res Mortgage £289,060.00 £625,000.00 46.25
Total Debt + Res Mortgage £441,790.00
Total Assets £737,500.00Net Worth £295,710.00
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1. Accountant appointment
2. September (remaining) budget
3. Template for ongoing - any available online either excel/numbers works for me
4. Balance transfers
5. Voluntarily terminate third car
These are all big steps for me so think that's enough for one week.
I've found you get back what you put in on MSE, so be as open as you can, and I wish you well with your shiny diary
2022 Achievements: Mortgage Neutral, Net Debt Free, EF filled, Retirement Planned, More Unfit, Heavier
2023 Targets (as of 1/1/23): Steps-23K/2500K - Weight - 0lbs/24 - Savings-#57-MFW £400/£10800 - #17-365x1p 1p/£667.95
2023 Achievements (as of 1/1/23): 5km (treadmill)-51'39" - 2km C2 Erg -9'54 - R-Day 272 Days - PMA Save/Earn - £135
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Believe it or not my credit record is decent, I've never missed a payment and have access to significantly more credit on the cards but I was heading for decimating it carrying on as I was.
Income is c.£7k/m split between my business and BTL portfolio.
Definitely have a look yo see what you have to sell, e bay,Vinted. Facebay. All well off people know flog things they don't use and look out for bargains, no shame in it at all these days.
Save £12k in 2023 Challenge #8 £12,000/£6500
The 365 day 1p Challenge 2023 #1 £670.00/£100.00
The 365 £1 a day Challenge for Christmas 2023 #43 £1000/£400
I set out a schedule last night so hopefully won’t be so distracted by what’s going on in my personal life and be able to get on with my work this week.
All probably sounds mad this is affecting me so much but it is.
Small things today to get me in the right mindset and out of the not enough/ haven’t got enough one:
1. Finish work 6.30pm
2. Start on the September remainder budget and don’t give up if it’s bad
3. 15 minute activity with son (I don’t spend enough time with him)
@enthusiasticsaver will be all 0% by the end of this week.
It really sounds as though you have turned a corner and I'm sure that with your wife now onboard you can pretty quickly make your financial situation look a lot more rosy.