Pay for the future and not the past

MissRikkiC

Another £4 to come from vinted and be moved to the holiday fund, child benefit form posted finally for Bear and went through TCB for a few personal purchases yesterday. 

A few things purchased yesterday for the children and a lovely day out with them both (solo) too so it made the difficult night with bear that little more acceptable. 

The loan payment was taken into account on my online banking too which means now that the loan stands at <5k however obviously the other elements are just elsewhere. 10 months to clear that off which means then for the remainder (which I think will be about 10 can be spread over slightly longer and reduce the bigger monthly payment. 

I just don’t think we will be moving in 2 years so this makes sense. 

MissRikkiC

Taken a decision today to shift the remaining loan balance. It’s another BT with a v small fee (still less than the interest I’m saving) and means that maternity is now already saved for as I’ve just cleared approx £2.5k worth of payments required. It relaxes my mind, means that I can be a little more flexible with a view to spreading all of the debt remaining to a future date in line with the house purchase. I’m aware that this moves the debt free date but at least this way I’m not pressured to find the extra savings on maternity, it means that the payments each month can be on my choosing which means should we have an expensive month or something is broken (car related, energy price hikes etc) then we are under less financial pressure. Nothing would be unaffordable but it would mean change and this way I can limit that. 

Also, my car is due to be delivered tomorrow so my taxable income calculations will change meaning more income. The timing of this is also uncertain as it’s largely reliant on the tax office but anything extra can be overpaid on the credit cards and again less pressure. 

Lastly it means that should something go VERY wrong, such as job loss, we don’t have to struggle with a larger commitment than we’re able to afford for the loan. 

Will update balances and plan to clear when it’s all sorted but whilst this might be a little backwards/long winded, it’s just better. 

Suffolk_lass

I agree. I always HATED paying interest. As our mortgage dropped, I tracked the monthly interest payments and followed each lump-sum (£1k+ from income and Tilly tidying) overpayment and what it did to the interest, so I could calculate how much we were saving over the life of the mortgage. I also rounded up our repayments to £500 a month so that on those months when we were not paying over £1k, we were still paying it down.

I think 0% interest with flexible repayments is exactly what you need while on Mat Leave. Well done!!

MissRikkiC

If the tax benefit changes my income by as much as I believe it will then I will be making large overpayments! In the meantime I have no pressure to do so! Feels like a win. 

I’ve been on a bit of a decluttering spree since having Bear as I suspect the house is easier to keep tidy when there is less stuff! So I’ve been getting rid and sending a lot of things to charity shops. It’s been great and there is a lot more to do. 

Today that includes my note pads. That is silly but I love them and have lots dotted around the house but I don’t know in which I’ve kept what lists! So instead I’m going to find them all, take out the pages I want the information from (most pages consist of food shopping lists and meal plans) and transfer it in to 1 note book. My new one that I’ve purchased for this exact purpose. 

I have bullet journaled before and then tried to pick it back up again but failed. I tend to have a lot of stuff knocking around in my head and so hoping whilst I’m unable to write stuff down in the nearest notebook never to be read/remembered again, this way I stand a better chance. 

Likely subjects and areas are 
Gardening ideas 
Gardening dates (that I’ve done stuff) 
Current veg garden set up
Gardening that’s worked and that’s failed 
House ideas that will make life easier 
Meal planning
Stock takes 
Shopping list 
Weight and measurements tracking 
Food diary
Exercise goals/plans
Exercise tracking
Credit card repayment plans/dates 
Daily notes about the children 
Calendars for appointments

More to be added. 

jokono

That sounds like a great plan, you don't need any unnecessary stress right now. How do you BT to a loan though? 🤔 

I keep notes/lists in an app on my phone after losing track of different notepads, I gave up on paper for now but I still spend an irrational amount of time window shopping stationery 😁

MissRikkiC

I’ve been being a little sneaky and balance transferring to a zero balance credit card then withdrawing the credit balance and then paying it to the loan. I’ll only have to do it the once more now so hopefully no one tells me off! @jokono

I have been doing that too with notes on my phone but there is now over 100 of them!

Suffolk_lass

I was really systematic with my note book until I got to the last few pages, and then I tried 2 books coexisting and with just two I got myself in a right old muddle. I'm still in two, two years later, having stopped because I lost track (like that is going to help!)but at least they are both in the same place, on my desk, as I type. And my shopping lists!... one on the fridge, one in my head, one on my spreadsheet plus a Morries online list!

I have a really pretty book with a bee picture on it that I record my beekeeping in but my other books are black, with an elastic restrainer strap (imitation moleskins - £4 instead of 3-4 times that price). Except my passwords. They are in a proper alpha-index moleskin.

Someone once told me that my star sign loves stationery and certainly I do. Then there are pens...

MissRikkiC

Loan finally closed, took me a month to get the BF across and then to get the money to the right account to pay it but it’s done. 

Need to get all the dates for the cards I’ve taken written down and a plan made to clear the debt and a new date by when. 

Tax office made aware of the change to my P11D and that should take effect by Augusts pay check along with hopefully a healthy rebate 😏 I’ll have no more fuel costs being deducted from my pay for my fuel card as we are now fully electric so august should be an okay month. 

My pay does drop at the last week of august (or it should?!) so this should help cover the loss. 

Blackcats

nice to nice to see you.  Well done on the loan

MissRikkiC

I’ve been super busy with my 2 littles so hardly been on the boards! I’ve missed them!