How much to live on

carboot_karaoke

Congratulations @Organgrinder

Thank you for sharing your success and inspiring others to do the same. 

louby40

Organgrinder, we loved Krakow when we visited in October. Such a beautiful city. 

We did Auscwitz and the salt mines, the castle is amazing and just wandering around the city is amazing. 

We're off to Amsterdam in February. 

Nebulous2

Two months since I posted an update on my attempt to live on my income this year - as a practice for fully retiring. Two months ago at my last update I was £1200 behind for the year. 

I'm now £1500 behind, but I've paid a holiday in full for March and I've paid almost £2000 for a necessary repair - that I've known about for some time - but the company couldn't get a spare part with a long wait time expected. I got a phonecall out of the blue to say they had ordered one for someone else, who had changed his mind, and I could have it if I wanted, so I jumped at the opportunity. We're delighted with the outcome, it was worth it. 

We are also negotiating travel insurance, which has jumped quite a bit in price, due to some health conditions to declare. I think I'm going to end up with a packaged bank account, which will be quite a bit cheaper, but as is always the case with buying a package, it doesn't completely match our needs. 

More importantly - as some of you know I retired, didn't like it, and went back to work part-time several years ago. I've now decided life is too short, I'm going to go back to work after a festive break, hand in my notice and finish completely at the end of March. I feel better prepared now to give it another go. I've also only got 3 and a half years to go until I get my state pension, so the gap to bridge is smaller than it previously was, giving more opportunity to preserve our savings. 

On the investment front December had a few wobbles in the market, so I was surprised to find we still came out ahead on the month. I had expected a drop. I'm listening to all the mood music about inflated prices of shares and signs of cracks appearing in the USA, increasing numbers of people unable to service their credit card debt, and going into arrears on car loans, but I'm continuing to sit on my hands at this point, rather than reducing my risk. 

helensbiggestfan

Good Morning Everyone and a Happy New Year to One and All.  So exciting to have a nice new year ahead.  Fresh starts and new beginnings and all that.  

I had a lovely Christmas. Yes I overspent a bit but who cares.  It's only money. I like to be generous to my family. Oh and the fire extinguishers went down a storm.  Obviously they raised a laugh but both my sons were genuinely appreciative.  And of course I did buy them "proper gifts" as well.  

I haven't done my 2026 budget yet.  The tax situation is still not resolved.   I thought that having had a tax rebate it was all sorted but apparently not.  I will probably have to wait until April now. No worries.  All is good.  

Organgrinder.  Congratulations on becoming mortgage free.  You are an inspiration.  Hope your wife's ankle is healing ok.  

 

Organgrinder

louby40 said:

Organgrinder, we loved Krakow when we visited in October. Such a beautiful city. 

We did Auscwitz and the salt mines, the castle is amazing and just wandering around the city is amazing. 

We're off to Amsterdam in February. 

Do you have any restaurant recommendations? Nothing fancy.

That said a few years ago we went to Field in Prague. Absolutely superb and a Michelin starred restaurant without the price tag.

louby40

We went to a fantastic little restaurant in the Jewish area called Starka. It's very small so I'd recommend you book. Family run. 

Organgrinder

louby40 said:

We went to a fantastic little restaurant in the Jewish area called Starka. It's very small so I'd recommend you book. Family run. 

Thank you. Just looked online. We're staying just around the corner!

Have had quite a nervous day. First had to wait for the last savings payment to be paid in. Then the mortgage direct debit had gone out so I will have paid more in than needed, but it will get repaid so no problems there.

Then the actual payment was to a generic account so it couldn't be verified!!! 

But I am now mortgage free. A very strange day. And far more stressful than it needed to be. But it's a great start to the year. :-)

Auti

Congratulations. @Organgrinder

Smudgeismydog

Congrats @Organgrinder

Great way to start 2026

Savvy_Sue

louby40 said:

We're off to Amsterdam in February. 

I think we are too: I'm supposed to be planning a trip then, but it is (as always) complicated by the need to visit MiL on our way home. Warning: it may be VERY cold - we've been in March and had one particularly bitter day with hail and sleet. 

And then I hope we'll be going again in July, because I'M GOING TO BE A GRANDMA! And it's the ones all my hopes were pinned on, who live in Amsterdam, who have obliged. 

Nebulous2 said:

We are also negotiating travel insurance, which has jumped quite a bit in price, due to some health conditions to declare. I think I'm going to end up with a packaged bank account, which will be quite a bit cheaper, but as is always the case with buying a package, it doesn't completely match our needs. 

You're probably already aware that you'll need to phone up and declare your various ailments in order to ensure that you'll be covered. In my experience, if you're 'shopping around' or considering changing which bank you are packaged with, it's worth having a little list in front of you. Mine lists all DH's and my ailments, treatments, recent medical appointments etc. It just makes it easier for me to be sure I haven't forgotten anything. 

And then ... you may find one bank wants to charge you an additional fee, while another does not. I found that Nationwide would charge me £100+, but were happy to cover DH for just the monthly charge. And another couple of banks - I forget which - wanted extra for DH, and nothing for me. 

So when I'm investigating, I set aside a couple of hours for the process. 

Slightly concerned that we are currently packaged with Virgin (at no extra fee) and hope that the merger with Nationwide doesn't mean we end up with the Nationwide insurance. Well, I guess we can always switch again ... 

Also dreading when we 'age out' of packaged bank accounts!