First Steps to Solvency

efes_shareholder

alt80 said:

Passed my ‘rona test. 🥂

@efes_shareholder mate if I’ve got an AM I couldn’t care if people think it’s on the chucky tbh ha.

fair point well made 

RelievedSheff

alt80 said:

Passed my ‘rona test. 🥂

@efes_shareholder mate if I’ve got an AM I couldn’t care if people think it’s on the chucky tbh ha.

People don't think it they know it. No one buys those cars outright. Much like your RR. They are always financed.

efes_shareholder

RelievedSheff said:

alt80 said:

Passed my ‘rona test. 🥂

@efes_shareholder mate if I’ve got an AM I couldn’t care if people think it’s on the chucky tbh ha.

People don't think it they know it. No one buys those cars outright. Much like your RR. They are always financed.

two exceptions footballers and lottery winners.
The driver in question was having a race with his mate who was driving his BMW 

bookworm_nat123

Hi Alt80, I have been reading your diary ever since you posted and you've made such progress in a short space of time. However, food for thought, the second car isn't a toy for you, you chose the RR  to be your toy instead and all your debt paying off plans revolve around paying off the balloon in a couple of years so why should you get a choice about the second car instead of your wife? You say its because you drive it too but you've got the RR which you have fought hard for. So if you are saying you need a second car for you to drive as well instead of the RR what's the point of the RR debt? The majority of the people do not have weekday cars and weekend cars (Although I admit your "friendship" circle may have skewed your view on that). The decision for 2 cars in the family is one of practicality so nobody will give a thought to you having a practical family car for your wife and the RR for you. 

your wife is definitely right about not making the decisions whilst you are still are recovering from the drug usage and poor sleep as it skews your decision making ability completely, just look at the business decisions you made and the tricky position you could have been in if you couldn't back out. 

RelievedSheff

efes_shareholder said:

RelievedSheff said:

alt80 said:

Passed my ‘rona test. 🥂

@efes_shareholder mate if I’ve got an AM I couldn’t care if people think it’s on the chucky tbh ha.

People don't think it they know it. No one buys those cars outright. Much like your RR. They are always financed.

two exceptions footballers and lottery winners.
The driver in question was having a race with his mate who was driving his BMW 

Even then they often don't buy them. The other half is always repairing expensive cars which are going back from PCP deals, footballers included 😀

Why buy when you can effectively rent one and have a new one every couple of years? 

getmore4less

What I was trying to say was if you borrow money from the holiday fund then you have a debt to self to refill that pot.

You said you want to pay back the BTL business  but here you are creating new IOUs on the new budget.

What's done is done what needs to happen is you need thought that stop you taking the backwards steps, whatever works for you.

Waste of money, another unit, AM, present for the wife or kid........

A lot of your spending has been that's ok its just a few £ but end of the day it all adds up and has to come from somewhere.

unless  you have a category for just spend it,  everything you spend that is not on the plan needs to come from something you have already have spent time and effort  prioritising.

Maybe make a list of everything that is more important than the next fix, remembering that if you do it you will do something stupid and have to fix that.

alt80

@RelievedSheff well I'm apparently someone who looks like I have a lot of credit commitments, may as well own it lol. More than happy to buy an AM on finance - just needs to be the right time/ deal not putting myself in a bad position for it.

@bookworm_nat123 I've always had a weekend car since way before I met the wife. The RR is not a 'toy', it's my everyday car which happens to be the best family car money can buy outside of the Bentayga level imo so family car is sorted. Not sure what you can't grasp about that tbh? Pretty obvious RR does not = 'toy' FML it's a quick truck, might have the V8 but still drives like a Range Rover. I absolutely love it but not as a 'toy' lol. 

Re decisions you do have a point tbf.

alt80

@getmore4less thanks mate. Yeah I am still struggling to live on my income tbh it's better than it was but there are some ious still. Can't see where category for just spend it can come from - if I go down that road the debts will take longer to pay unless I find an increase in income - not going down that road for 2 years as want to keep in retained.

Head just a massive jumbled mess tbh - I owe so much money everywhere some of it I either need to work out what I'm doing about it or forget about it tbt. Credit cards/ RR are 'easy' as I know I need to pay those. BTL refinance I feel I owe myself by cutting my income in some way but can't cut my income. Also been thinking I owe myself the money I've spent on stuff as well, ftype /BMW (if it goes back) money etc. etc.

ryanm8655

Your story with the son's school friends parents on a night out is another reason the coke is bad, you fail to see blindingly obvious things like that are a bad idea ha. Not judging and can completely see how it happened. Did make me chuckle a bit even though I can understand the wife being livid.

RelievedSheff

I think you need to take a step back and look at the bigger picture which as it stands is still that you are spending more than you are earning. 

You need to find some more cut backs or some more earnings.