How much to live on

[Deleted User]

Well done otb666 on clearing the mortgage and starting your retirement successfully.

[Deleted User]

I've been spending lately and to be honest feel ok about it! Treated myself to 4 new coats over the weekend, two for wet weather and two for cold. Also topped up my wardrobe with a few new jumpers!

I have purchased some presents for direct delivery to relatives and friends in December. For immediate family we have all agreed a sensible limit for present costs. We are having a large family gathering on Christmas Day which I am looking forward to immensely. I absolutely love Christmas. No Scrooge here! Planning to decorate the house with Christmas things on December 1st. Probably put the trees up about the December 15th. I just love our tradition of going to the pop-up Christmas tree centre to choose the tree.

Continuing with part time contract after Christmas. Finish dates could be April or August. Will see how it goes.

I have cancelled the cruise planned for next September to Croatia, Corfu and Malta. I really didn't enjoy my first cruise at the end of October. It really isn't my kind of holiday.  I still have my city break to Vancouver to look forward too next June and off to my beloved Cyprus at the end of August for 12 days in a rented villa.

One large expense coming up next month is some fencing work. Unfortunately, newish neighbours have removed all hedging that gave both parties privacy as well as building a rather large outbuilding at the end of his garden. I am having my fences increased in height to maintain my privacy. The price tag will use up at least 2 months part-time income! 

Best wishes to all

[Deleted User]

Our fixed rate energy tariff has ended.DD up from £146 to £170 initially them probably up to £230. Not brilliant but doable. We are fairly careful with usage, but I tend to feel the cold and will have heating on as necessary. At the moment 2 to 3 hours in the evening. Although after the initial warm up the radiators tend to go off fairly quickly when the thermostat hits my desired temperature.

Income wise things are fine. At the moment about £1500 a month from DB pension and a small annuity. In addition, at the moment about £900 to £1000 a month net from part time work. 

trevjl

Even allowing for the large unit increases, is it just me that finds these DD's that the, in my case Octopus, companies say it should go up to ludicrous. Every few months I get an email telling me it should go up to this and every few months I tell them to go whistle and I am still in credit.
The tell me it is to reach my target balance. I tell them I don't have a target balance, I will pay for it as and when I use it, not when they fancy some cash flow. I point out that Asda do not charge me this week for shopping I may or may not buy next week and therefore my DD will remain the same until I decide otherwise. 

jevbanx1

I've had the same with Octopus. Currently over £500 in credit and they only last month said I needed to increase my DD yet again. I live alone. Have recently retired 2 years early, and am trying to be sensible with costs! It is ludicrous.

trevjl

jevbanx1 said:

I've had the same with Octopus. Currently over £500 in credit and they only last month said I needed to increase my DD yet again. I live alone. Have recently retired 2 years early, and am trying to be sensible with costs! It is ludicrous.

I would tell them to refund the excess immediately. I would not let them sit there with £500 of my money and whilst you are at it tell them to reduce your DD.

blue.peter

trevjl said:

Even allowing for the large unit increases, is it just me that finds these DD's that the, in my case Octopus, companies say it should go up to ludicrous. Every few months I get an email telling me it should go up to this and every few months I tell them to go whistle and I am still in credit.

I had the opposite problem. A few years ago, my provider (Good Energy) installed a new billing system. Ignoring the fact that it failed to do even what it said on the tin - issue bills - its calculation of the amount that I needed to pay was ludicrously low. After a bit of toing and froing, we reached the position where I now do the sums and then tell Good Energy how much to collect by fixed DD. As and when I get notices of price changes, I redo the maths and tell them how much to collect going forward.

Is it worth talking to Octopus and asking them if you can do the same as me? I find it only a minor inconvenience to calculate the amount to pay.

Bravepants

Shell Energy are also dodgy. I have £350 in credit with them. Until recently they were telling me to increase my DD because I would be in debit by January 2023. But NOW they have realised I won't be in debit by this January, they are suggesting I should increase my DD because I will be in debit by January 2024!

I'm going to get my broom and declare shenanigans...

https://youtu.be/UbtByiZrKqY

Time4T_Accounts

I have found Octopus to be very good to deal with.  Each time they put it up, I log In online and put it back down again.  I keep the DD woefully low, but then make a payment at the end of each month on my cashback credit card to keep the account slightly in credit .  Octopus don’t complain, I effectively pay as I go, and I earn a few bob on the cashback card (which I pay off in full each month).  Works for me!

Roger175

Two years ago we had a crazy situation. We were building a new house, which was a true self-build (mostly just me), so it took a few years. We had the power supply and meter put in part way through and then for the next 18 months, the only usage was a bit of lighting and a few power tools. When we moved in, we told the supplier and tried to set up a realistic DD. They said that because we had only been using about £25/month, we could only increase that in 10% increments. It was crazy, we were suddenly running an electric air source heating/hot water system and cooking by electric and they wouldn't allow us to increase the DD. I can't recall what happened in the end, my wife dealt with it but we eventually did get it sorted.