First Steps to Solvency

RelievedSheff

alt80 said:

@annabanana82 I don’t want it to destroy my life. Wife said last year she’s giving things a year not just that, debts too. I know I’m just waiting for the inevitable. 

@KxMx thank you almost went to a cokeheads meeting didn’t and tbh all about god etc not my thing. 

Said it a lot I know. Can’t spend more money on it now so I am done with it. Just wish there was a way I could enjoy the boring stuff in life not need a buzz.

Being content with what you have doesn't need to be boring.

alt80

@RelievedSheff wish I could see that mate.

RelievedSheff

alt80 said:

@RelievedSheff wish I could see that mate.

Once you stop craving that "buzz" be that from drugs, caffeine or driving fast cars, you will perhaps see it.

ladyholly

The greatest buzz in the world is watching your child grow up to be a good, honest and happy adult. 
. You don't need the chemicals and stuff you have the key if only can see it. 

getmore4less

alt80 said:

@getmore4lessBasically the same figures that I’ve come up with mate. Def scrambling my head to try to reduce it get gone asap every !!!!!! day trying to find some other way of getting this !!!!!! off. Regret 5 year fix, with cards gone could have got the remo on res home and RR sorted. Stupid in long term but would make life a lot easier.

Stressing me out tbt and keep thinking I’m going to be knocking on the door of 44 by the time this is gone older if I keep the BM be knocking on the door of 46 FML. No chance of AM if I can’t sort my head out and get working on the growth. Even then it’s 2 years as is so far as the personal money goes.

Worse if wife says bye bye end of the year haha. 

Shorter fix and remo just bumps the debt down the road, why stick it on the mortgage at x% when you can have it at 0% by keeping it on the cards and do a bit of 0% £0fee shuffle.


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I will throw in my smoking story.

 Wanted to give up but never really got round to it.

Changed job to a no smoking place and moved into a temp flat share with 3 girls that were a mess they were when the floor is full use the ashtray kind of place but that was the move that I decided to give up lasted there 3months before finding a house to buy.

Hard work for 6 months and took probably 2 years before I really stopped getting the urge, still love the smell of a pipe.

Anyway lapsed twice in that first 6m
the first time was a party and drinking, the second(this will give an idea of how long ago) was on a transatlantic flight into Heathrow,  someone wanted to move from the smoking section, they offered an open bar so I grabbed the chance , few drinks and the smoking stated.

Worst hangover ever and stunk  last time I touched a smoke.

Smoking is also a what to do with the hands habit that is tough, my drinking and eating went up a lot.

Willowtree222

Your wife leaving doesn't have to be the inevitable. You can turn this round. 

RelievedSheff

getmore4less said:

alt80 said:

@getmore4lessBasically the same figures that I’ve come up with mate. Def scrambling my head to try to reduce it get gone asap every !!!!!! day trying to find some other way of getting this !!!!!! off. Regret 5 year fix, with cards gone could have got the remo on res home and RR sorted. Stupid in long term but would make life a lot easier.

Stressing me out tbt and keep thinking I’m going to be knocking on the door of 44 by the time this is gone older if I keep the BM be knocking on the door of 46 FML. No chance of AM if I can’t sort my head out and get working on the growth. Even then it’s 2 years as is so far as the personal money goes.

Worse if wife says bye bye end of the year haha. 

Shorter fix and remo just bumps the debt down the road, why stick it on the mortgage at x% when you can have it at 0% by keeping it on the cards and do a bit of 0% £0fee shuffle.


-----------------------------------------
I will throw in my smoking story.

 Wanted to give up but never really got round to it.

Changed job to a no smoking place and moved into a temp flat share with 3 girls that were a mess they were when the floor is full use the ashtray kind of place but that was the move that I decided to give up lasted there 3months before finding a house to buy.

Hard work for 6 months and took probably 2 years before I really stopped getting the urge, still love the smell of a pipe.

Anyway lapsed twice in that first 6m
the first time was a party and drinking, the second(this will give an idea of how long ago) was on a transatlantic flight into Heathrow,  someone wanted to move from the smoking section, they offered an open bar so I grabbed the chance , few drinks and the smoking stated.

Worst hangover ever and stunk  last time I touched a smoke.

Smoking is also a what to do with the hands habit that is tough, my drinking and eating went up a lot.

The other half smoked when we met and for a long while after. He was one of those who muttered about giving up but never did.

When we bought our first house we agreed no smoking in the house. The rubbish weather made him consider giving up again. He went to the doctors for advice and followed their route. The final literal nail in the coffin for his habit was a week spent replacing the garage roof that got damaged in a storm. He took his craving anger out on the roof.

He has not smoked since and that would be 14 years ago almost to the day. It was a stormy January when we moved into that house. 

theoretica

There are basically two answers to getting rid of debts - spending less or earning more.  You have looked at the spending in detail.  I wonder if there is scope to find an acceptable way to increase your earnings - not by taking more from your main business, or messing with the LTV in the BTL but sometime in the next 2 or 3 years looking out for a perfect little hobby project to do up (if you do much of the DIY yourself that would also keep you occupied) sell on and take the profit to use on the RR balloon/debts?  So the only affect on your portfolio would be the opportunity cost from tying some money up in this for a while.

alt80

@RelievedSheff don't know how to not want the buzz, always chased a buzz in life ha. Tbf only had a couple of coffees this morning and a decaf this afternoon. No other stimulants either. 

@ladyholly I love my son, really enjoy spending time with him sometimes but there's not a hit from it. It's nice but not the same as a big deal going through or even hitting 150mph (not on public road lol) or whatever. My wife loves being a mum, it's her thing. She like the IG/ clothes/ makeup/ fitness but never had the hit of making a deal happen etc.

@getmore4less thinking straight I absolutely agree re res home mortgage. Stupid me thinks it would make my life a lot easier tbh have some money growth or not. Fixed for 5 so not going there.

Interesting re smoking, how did you get through the cravings for it?

@Nicnak hope so just not making a good job of it. Tbh she prefers the debts to the chang, !!!!!! hates that always has.

@RelievedSheff ha he's a better man than me mate, don't think spending a week on the tools would sort my head out lol.

@theoretica I know where you're coming from tbf. Projects better in ltd and money retained. My days on the tools well over tbh too. Been there in the past, enjoyed it but got a decent team now.  

RelievedSheff

Give yourself time off all the stimulants and the rest will slot into place.