Pay for the future and not the past

MissRikkiC

What a loon I must be as I finished updating my lists and checking my budgets at 1145pm having started at 930pm although since I’d started to think about it, it was all bound to keep me awake so making my lists was the right thing to do. 

There will certainly be less than expected left over after the kitchen, but we haven’t spared an inch and had everything we’ve ever dreamed of in there. Despite knowing the house is too small and we will need to move in approx 3 years time I’m not sure I’ll be able to recreate our kitchen. I really so love it so it was all worth it. 

Currently sat parked in the car enjoying a coffee from home in my flask, whilst my daughter sleeps in the back. It’s annual leave today whilst little is off Nursery for half term so figured getting 30 minutes to myself was perfectly reasonable!

MissRikkiC

Happy March and Meteorological spring or so I’m told! The sun has been out and although it’s still cold, feeling the sun whilst getting in the garden has been wonderful. 

The Kitchen is done, there is a few touch ups paint wise and a few final final finishes but we’re in and it’s paid for. And I love it! 

Money all accounted for and it cost ALOT more than planned so the other plans we had for the house have needed to be downsized. Replacement windows for the entire house have had to be culled at just the front of the house but they’re set to be fitted at the end of March. Just in time for the weather to warm up and us not require them quite as urgently but if they’re not done now, the money will be otherwise used towards something else. 

Quite honestly that leaves approx £1000 left which is dire as we’re meant to have spent another £3000 on windows and doors, plus £1500 on carpeting the entire house along with the last bit which was to create a safe play area in the back garden for the children with the remaining funds. 

Needless to say we’ve got to now prioritise so the play area will be created next and whatever is left will carpet the areas which are needed the most. 

What it’s allowed for now though; is back to normal budgeting and spending which has been missed. We still have a small house pot and a garden pot, being put into (and spent 😂) every month along with savings for my daughter and we’re happily living with less pocket money than we’ve ever had before but it’s all in a bid to have a bit of everything. 

Writing that all feels very luxury and that we’re quite fortunate, we are, but we still have debt and that’s why I was here to begin with. So now to update on those with a plan for getting rid! 👋

MissRikkiC

Ideally would like to overpay on my loan, more than I already am as I messed up with dates and realise that for plans to work I need to end the loan approx 13 months early! So that’s on my list of what can be cut back! 😳 

MissRikkiC

I find it somewhat satisfying to discover/come up with/contemplate ways in which to make money go further. I guess it’s why I’m here but also aware very well people otherwise share my views and whilst it’s not nice to feel smug about the ideas, when something works out right, it’s hard not to feel like your hard work (and hard thinking!) paid off. 

Currently deliberating with ideas of how to reduce costs during maternity leave/make maternity leave to further. With that, I discovered yesterday, that most of our bills are static. Even the pots we allow money for are the same month on month such as fuel. Even if we spend less, I still allocate the same each month so as to ensure it’s a bill that’s fully covered. 

So there is really only 1 cost which fluctuates and that’s my daughters nursery bill, which is largely dependent on how many days there are in the month and if school holidays need to be taken into account. 

This is the current focus area for me. We have had issues with their policies being too strict, causing our home life far more disruption than normal, plus my daughters KW is leaving so feels the right time to review the options. There is another nursery which is cheaper, although I do prefer the surroundings of the current setting and with going on maternity leave from May, it’s likely that we could swap from September and if everything isn’t perfect days/times wise we could still figure it out and be right by March. 

I have also considered if sharing my maternity leave with my husband is an option. We discussed it with our first child but then I felt like I wanted to be home anyway so it wasn’t needed. This time may be the same but I just know that we have to explore other options if we want to live the best we can. 

By that I don’t mean have extra cash for us as it would in short just pay off the loan a lot faster but it would mean our reality of having more disposable income once the children were in school might be sooner than that. 

Lots of thinking to do 

MissRikkiC

Maternity leave being shared is an option to be really discussed with hub. We’ve broached the subject but needs firming up. This week really. Gulp. 

And the nursery I recently looked at; whilst its smaller and a very different setting (Military base vs a farm!!) I just don’t think I can ignore the savings it would result in. Definitely struggling with this 

Blackcats

Glad to hear that your kitchen is done and even better how happy you are with it.
It's good to use our diaries to record our successes along the way as well as our challenges and our slip ups.
the sharing of parental leave and the new nursery are important discussions.  Could your DC go to the same nursery but a little less while you are on mar leave and make the savings that way.  For what it's worth, I would probably take the view that the loan will be paid off sooner or later but you won't ever be able to have that time back with your baby.  I can also see why you are weighing up the other options though.  

MissRikkiC

Thanks @Blackcats I think it could only be a consideration when I’d be close to going back anyway. Maybe the last 8 weeks and having some of those together. Not sure yet but the idea of me going back much earlier and hub being at home for the financial benefit doesn’t sit right with me anyway. 

Bluegreen143

Are you the main earner? I think it’s great we have more choices/options re parental leave now… but I’d have really struggled giving up some of my precious time off and DH wasn’t very interested in it (he’s a great dad but has no urge to be a SAHD!). I know it works well for some though! Having some time off together sounds amazing. It is harder work with your second and having daddy around so you have a 1:1 ratio could be a really good thing 😅

MissRikkiC

Thanks @Bluegreen143 My salary is almost double my husbands and so really makes sense for me to go back at some point sooner than we maybe originally thought.  

He isn’t a SAHD either although like you we toyed with the idea, however he can also see the benefit in sharing the leave. 

Ultimately we would probably only share (and be off together) for a small amount of it in the grand scheme of things, maybe 4 weeks or so, but if we timed it right, there is school holidays too (eldest is term time only) so we could all have a week or so together as well!

Bluegreen143

Sounds like you might be able to time it quite well with the holidays. It’s so difficult trying to cover those. My eldest is at school and youngest term time only nursery. I think this year we’re going to each book two weeks annual leave and two weeks unpaid parental leave, overlap a week to go away and that’s the 7 weeks covered… it’s so hard when you don’t have much grandparent help.