Future Proofing my life: Deposit saving then MFW journey in under 13 years

LadyWithAPlan

@TallGirl  @savingholmes I am planning to buy without a lodger - its just the 2nd bedroom is a useful 'if I get stuck' re the lodger back plan  - however in life I really dont allow myself to get that stuck ..... The 2nd bedroom is  on my list really for a study and a place for family to stay overnight  plus easier to sell I gather.

@beanielou glad to hear it re the chanting lodger - though we are all a work in progress  

Apologies for my absence I have had a migraine/sickness thing for the last 4 days - still not 100% but feeling a bit better.  Luckily I have loads food in freezer so made a pressure cook beef stew with sweet potato yesterday and loads of veg

My side hustle went v well last Thurs - loads of positive feedback  aka 'brilliant' was actually what 4 random people said and then had some drinks after  and  went for a dance - thought Friday it was a hangover but have been useless this weekend - although I did manage to go for a swim yesterday and to get some fresh air. 

Sistergold said:

Oh @LadyWithAPlan, so many considerations with regards to what house/flat to buy? £270k mortgage does not sound so bad and I am so impressed with how much you have saved so as to be in this great position where you will only need such a “small” borrowing. 

Firstly get a place you would love then work out the rest I guess? You have saved so hard consider yourself first? The flat you mentioned seems like a complicated layout BUT it will probably make more sense when you view? For now just viewing might be best and while doing this you might just find a place you buy because you love the location and flat. 

 In all this I think it will just be an issue of falling in love and the rest will be whatever! Love is a wonderful thing when it comes to a house especially for us mature people! After being through so much you just need to love the place with or without a lodger. 

Hopefully you will fall in love with a property and this debate can be put to rest for you! 🥳🥰

@Sistergold yes a £270k mortgage definitely feels better than a £350k one. Though £270k is definitely not small - but the mortgage payments look to be about £1650pm  which is doable plus CT of prob £105 etc so I will need £2.2k for essential income.

I do like this idea that I will LOVE  my home  - that i will fall in love with it - I am hoping so - I hadnt thought about it from that perspective - probably cos I have never bought.. if i own it then I guess it will feel mine..
The flat with the stairs I loved but the stairs put me off more than the £475k price tag) .. its like a date seeming initially perfect but then realising they have a major unliveable-with flaw like being grumpy all the time ...
I actually do very much like where I am now but its not forever  and I know it so I am basically dating  whilst on tinder looking around (metaphorically) - online dating is not for me.
My rental however is decorated as I chose - I painted the walls plus its full of my own fabulous furniture (I even have all my white goods) so it feels v homelike.

Am really now looking forward to the flat looking tomorrow  - I have a good feeling - now you have put the analogy of dating whilst looking for something more permanent - I am almost excited! 

Watty1 said:

You have very successfully managed your savings and your business and your life.   If it were me (and actually it is me) I would  plan an emergency fund rather than think about a lodger.  A smaller mortgage and space to be alone would, for me, be priceless.

I have seriously considered looking for a lodger but have concluded it was panic about the lack of money that made me think about it.  I'm giving myself permission to rebuild savings before I even consider it.   The only way my place would be attractive given it is a large rural place in need of renovation is if I let the room and a stable and I'm limited on grazing and I really don't think I would want someone living in my house and on my yard.   The only attractive part is that it might give me a hand on really busy days with the horses but even that is not enough to win me round at this point.   I also think I'm to traumatised to have someone in the house really.  

Thanks Watty  for the reminder that I have indeed been successful   -  as you say it is purely the panic about money - or rather the potential panic about money  - the 'what if' that is driving the lodger idea only - i wont get a mortgage based on such income  but on mine only.
Maybe you could rent out a stable and do full livery or DIY if you got stuck 
Tx for the advice on the EF - I think thats more important and to not put all my savings on the deposit - hold some back.

Merlin's_Beard said:

My favourite story is that when they were making season 1 of Good Omens, they wanted a particular sequence shot a particular way and Amazon told them it was out of budget. Neil and Rob (Wilkins, Terry Pratchett's assistant and now protects his creative interests) decided to release the script book, donate their advances to the production, and essentially shamed Amazon into coughing up their advance, too, until they had the location shoot they wanted. They definitely want it done properly, as a labour of love, the way that Terry and Neil had envisioned it (and the South Downs cottage is a very Terry thing, given it's where he lived, and predates his death and his decline by a long way, so we all know that will be preserved).

I would definitely think twice before making decisions based on planning on having a lodger or second person in to help save money - living alone is very addictive and re-adjusting to another person is very hard! 

I didnt know Terry lived there, all adds to the canon.  Tx!
I have always lived alone bar the odd partner and only 3 x with others as stopgap since college... So I am being ridiculous in making a 2nd bedroom/lodger a factor.  Its more that I know 2bed have better resales etc.

Watty1

Sorry to read about the migraine. hope you are back to your usual energetic self soon.

I smiled at the "love" comment. I still remember my first house. I did indeed fall in love with it at the first viewing so much so I offered on it that day and it was only the second house I had seen.   I was so sad to find it had been sold subject to contract.  On my mothers advice I went to every agent it was listed with and said I wanted it. (In those days house were often listed with one or more agents) and that I knew it was under offer but if the sale fell through then to let me know.

I carried on looking but didn't find anything that was as good as that one house    A couple of months later I was staying in London when my  mum rang saying "come home, I've pretended to be you and bought you a house".  One of the agents being forward thinking rang the seller and said I've another really keen buyer and the seller simply said asking price and she needs to complete before the other chap.

I loved that house so much.  I still do. I would have kept it and rented it out had it not been for the ex!   

When you find the right place you will *know* 

LadyWithAPlan

If anyone has CO-OP money in the app  you need to use it by the end Jan as then they stopping that and going only  to members reduced  prices so you will lose any money on there 

I was in CO-OP yesterday and had £2.65 on there - so used that
I also used £1 of points from my Superdr*g card  plus a 3 for 2 on floss - not spending a lot in Jan - but not buying floss once I ran out is a false economy.

NSD doing v well  10/13 
Last week  NSD Sun, Mon and Tues, Wed .. 8/13 ! 
Thurs I was out but didnt need to buy any drinks  /food as they were all provided for and even got dropped home in an uber so hardly spent anything beyond the tube out. 
FRI/SAT I was in bed ill so spent nothing
Sunday I managed to go for a swim and a walk - and got some food in and some home stuff - cleaning stuff, a new drying tray (£3), toiler freshener etc 

Grocery  £121.03   + £19.49 bulk  + £8.25 home stuff + £24 for the HF
Grocery  £23.68 Mr Lid  plus £9 Co*p including my points.
Bulk white wine vinegar from Poundland   plus cleaning stuff - total P/L £9.50


FOOD - chicken with orange recipe ...
I still have  the end of my migraine - a headache and feel sick but been eating nutritious food. I did pick up some YS veg and YS chicken thighs yesterday in Co-op  so I just have in my Pressure cooker a derivation of a chicken thigh and rice dish with oranges in it. First time I have tried in PC but normal recipe below

Basically saute the chicken thighs, then veg (onion, peppers,) then add rice so rice gets covered in oil - then add tomato puree, passata, garlic, a segmented up  (unskinned) large orange  and stock and leave to cook with lid til the rice is cooked. I also often add chorizo, sundried tomatoes and olives but had none in the house today.  Spices include paprika but I used the Chermoula spice as that has paprika in plus mixed herbs and salt/pepper

So I also unusually  added the YS veg  I bought yesterday (was a stew mix which included potato) but I still added the brown rice. So it is another La Plan unplanned dish   - it worked well  - I loved cooked orange with chicken - though having so much carrot and swede in the YS veg  for me wasnt great for the balance...  so I dont suggest you add carrot or swede in if you want to try it - it was me using up the YS veg I bought yesterday only. 
I served with organic spinach as no kale in Lid* yesterday.

I have had no harob* this year or any sweets- woohoo - I do notice I am eating more carby veg and sweet pototoes and fruit but thats ok as at least they not UPF's

Spending  Voluntary in Jan £155.72 
This is a very good figure  - under 10% of what I spent each of the last 3 months (£4.9k  voluntary in 3 months)  - does not include some work stuff I arguably could have done without (see below) 

YNAB continues to be my new love - 21 days of money now. Best so far - but largely as I have a  Ltd Co tax bill to pay ...
In buying the stuff below I did not have enough in my office supplies category so had to move some out of a water bills pot (pay 6 monthly) - this is why ynab works as you see how every bit of spending impacts everything else. 
I am now chasing some invoices ... but YNAB poor is how I am feeling especially with the tax bill at the end of the month - I need to move cash around so as not  to cash in PB's.  Some of my tax bill will be covered by the refund on my SE Payments on acct but apparently HMR* can take up to 6 weeks to refund you.
If I dont get paid anything by Friday I will just have to pull some ££££ from PBs..  so annoying!  i cant risk not being paid and takes 2-3 days to get money from PB's

Today I spent £22.50 
£7.30 on 5 x  those feet peel masks - love them and after swimming yesterday my feet looked a bit iguana-like so sorting that out.. one can only hope as to  when I hit the beach again ...and those acid foot masks do work  a dream.. I walk a lot in very unsensible shoes ,,.. but running and even being on my feet a lot. The creams dont cut it on their own. 
Plus a usb c + 2 usb b  adaptor all in one plug    - I only have one usb c adaptor which quickly charges my watch and my phone and life is too short to keep looking for plugs..
and    a large wall calendar for my tracking I want to get focused on to get my productivity up


INCOME/TRACKING
Re the a large wall calendar I am planning to track gym, MB, MG and a few other things this year in a way I cant forget .... and having a large (22x17 inch) wall calendar per month will help me see the overall streaks - days in row at the gym, how much I am decluttering. I wasnt going to spend the money  but tracking and having a monthly over view is great for my focus and motivation - I like playing games and gamefying my life.
YNAB and the extra tracking has definitely helped  me in Dec spending a bit less ... so I am going to track the gym as I love it when I go - swimming is always a joy plus my gym has a great weights section and loads of classes all included which I rarely go to. 


I also need to start tracking my earnt weekly  income as it has definitely gone down hill this month - partly me, partly work..
I need to get more work ... that much is true.  with or without a mortgage.

Sistergold

Oh get well soon! 🌺

Sistergold

Yes when you fall in love you overlook the “shortcomings”. All the houses I have bought I fall in love even before I even go for the viewing, it’s like the house speaks to me even on paper. 🫣

LadyWithAPlan

Sistergold said:

Yes when you fall in love you overlook the “shortcomings”. All the houses I have bought I fall in love even before I even go for the viewing, it’s like the house speaks to me even on paper. 🫣

Very mystic! Hopefully the HomeCupid is in ascendancy and flying around me as I type...

Feeling 60% better so thats good as I was awful Fri/Sat

PennysIntoPounds

Re co-op, I don't know if it's different on app as I only have card but afaik they'll stop giving points end of Jan but you have until some time in Dec to spend them

Hope the viewing goes really well, looking forward to hearing your thoughts! 

savingholmes

Hope you feel better soon and that the viewing goes well.

LadyWithAPlan

Interest  monthly £1.49 on my £384 Mar*us acct at 4.75%
Yes I will be taxed on it .. however its good to have some available cash  - and every little helps.

Credit cards  make you step on the gas
This article is fascinating  MIT study from 2021  on how credit cards  make you step on the gas on buying things AND some credit cards trigger one differently than others!!

They found that credit cards serve to ‘step on the gas’ by putting costs out-of-mind regardless of the price of the product. More specifically, the study revealed that credit cards drive greater purchasing by sensitizing reward networks in the brain, involving the same dopaminergic reward center (the striatum) that is exploited by addictive drugs like cocaine and amphetamines.

I had  not had a cc for years and travelled across the world happily without one - but I got one again a few years ago for the credit score aspect and section 75 . However I have seen my spending go up.. luckily I can pay it all off each month but it has definitely slowed down my savings..
So my YNAB love is increasing as they (?) treat a cc like a bank acct and shows me exactly what I spending  opn cc as I have to categorize it and I feel the pain of my money moving from pots into the cc pot - just like a bank acct 
Either way my cc is at £155 at present  from £2k plus since starting ynab ...

beanielou

I am currently pretending that I don’t have a CC.