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

Merlin's_Beard

This all sounds VERY promising! 

Watty1

This is all SOOO exciting.

As an aside the CC article was interesting and made sense. I know I've got into a mess using my CC without real regard for the payback and also as a float.   Having a no spend year and keeping the only CC I have kept out of my purse will, I hope help. (I'm still having a no spend year in my head despite the evidence to the contrary on my diary and my bank balance

HotDog2020

Wow La plan it sounds all so exciting good for you, do you know about the boiler, is it hooked up to gas? have you been at different times of day to see what the neighbours are like? air traffic etc? otherwise it sounds like you have covered your bases. All the best. HD.

LadyWithAPlan

@Watty1 this is why it’s so easy for people to get into the cc float so paying last months cc on this months income and of course thengetting into debt - if we both have fallen in the trap and we are pretty mse and on it - it’s the psychological aspect of it - and of course cc marketers are v learned in how to make us spend 

I think this is why YNAB works so well for people as it produces the exact psychological opposite effect of cc - it makes you see cc immediately as debt and everything you spend on a cc is treated like a bank transaction so you have spent the money in that moment in the software  - loads of people on the Reddit YNAB all say the first thing that happens is they realise they are on a cc float  and given it  also shows how with true annual expenses are made very clear to be saved monthly  - all reddits get focused to get rid of cc debt v quickly

Feeling ‘YNAB poor ‘ is the exact opposite of cc psychology as it makes you really see your annual living costs and when you spend unplanned so need to cover out of your pots eg annual insurance on an unplanned spend eg a treat thing it yells like a GOOD OMENS miracle alarm bell in Heaven (flashing red lights in the whole building  and a lot of noise) even bigger than a 25 Lazari miracle 

(I know  @merlinsbeard will appreciate my GO analogy)  - flat is  v promising - I gather they have interest already And of course I have to yet my MIP in place which I think could take a few weeks so I may be behind the curve and miss it !!! 

- I am trying to not get too house fever and over stressed about this process - chanting that if it’s the right flat it will work itself out with the correct action for me 

@hotdog2020  
it’s on a long road  off a major road   which in the daytime so far hasn’t seemed that busy 

I have also asked for a copy of the lease agreement now 

MSE wins 
£21.97 quidco cashback withdrawn today - inspired to check by k@KajiKita
- from the travel in Oct   I always like to add CB to my house deposit which is suffering this month as i sort out the final tax  .. however I do have some tax money sitting in PBs so I am trying to swap that out for house savings and not lose the missing month in PB - Agent million may be calling my name yet!

I also went to the bank yesterday  as I had 2 paper notes £20 and a £10 that had both been ripped. The £20  was  given to me ripped  via a cashpoint!  A job that was hanging over  my head now done...

'next months money'
I have a 'next months money' YNAB category - so as income comes in later in the month when I have already dealt with the Jan expenses,  I can hold new income in all in one section next months money  and then on the 1st of the next month/ so Feb  disburse it onto rent, food etc .  It is a nice clear way of dealing with my irregular income  and seeing it build up and its easy to see how much yet needs funding .. I have yet to fund Feb rent let alone the other essentials  as I am owed loads  - 
 I do want to get a full month ahead - eg when I get paid end of in Jan I can use that cash for March expenses etc  - but that will be a spring goal ..thanks to corp tax I am delaying  .. etc 
I feel very ynab poor despite having  far more ££  in my current accts than normal .but every £ has a very specific job . at least I feel in more detailed control than ever before.
Age of money 25 days!!  -  

today to dos 

chat to mortgage broker and get paperwork contracts sorted for MIP

get EA to get back on my queries 

collate my proof of funds 

finalise my Ltd co Accts and get them accurate 
then file SE 
(I can file Ltd accts by 9 March) 

do loads work for client a 

keep balanced and not stressed /excited on the home buying process 

cook some gf bread with seeds 

Sistergold

Great that you saw the flat! Do you REALLY love it? 

Now that you love it, is there any chance of buying a share of the freehold and ditch the lease? Just asking have no clue how that is done, but you know they say if you don’t ask and all! 

LadyWithAPlan

Sistergold said:

Great that you saw the flat! Do you REALLY love it? 

Now that you love it, is there any chance of buying a share of the freehold and ditch the lease? Just asking have no clue how that is done, but you know they say if you don’t ask and all! 

I did really see myself there - fabulous garden as well... However EA just called to say they have accepted a much higher offer on flat and its done,  I asked re putting an offer in and they said no, solicitors have been instructed etc..
I have said to call me if things change. I think they may well come back to me.

I am not too upset - I chant so it gives me balance and wisdom (which i desperately need)   -  there are many thousands of flats in London and I do love where I live and can hopefully be here for another 18 months if necessary  - I will start looking at one beds with gardens as well as 2 bed  -  I did love it  and see myself there but I did chant this morning about it and if its right it will happen or there is even an even lovelier flat out there for me.

Talking to mortgage broker this afternoon and he confirmed I can get a contract mortgage  of over £414k so I could buy up to (with my current deposit) £530k ... I don't want to go so high but an extra £100k would get me into a next level of flat. 
I will thus action all the steps I need to get this MIP in place - so I can move when I need to  and see also what new work I need to bring in.
 Probably waiting til end March is best  when I have clarity on if this big side hustle is finally going to fly or if I need to look elsewhere

I am feeling quite grown up

HotDog2020

Ahh la plan, that is defo the best way to see it if it was meant to be it would work out, places that you live in have special bonds and when the right places comes knocking you will be there ready. Have you got a mortgage - decision in principle, the only problem with those is that they leave a mark on your credit score, so be careful creating a decision in principle, but it would also be good to have when you want to make an offer, also need speed.

Also you might be right that they will cancel if they have put in too high an offer, for my place there was another person going for it, they got in there first however changed their mind as it was going to take too long to settle, whereas I had all the time! With Yours they may have second decision about offering so high an amount for a one bed? Anyhow you are in a good position, and by the way I had taken 2-3 decision in principles out by the time I purchased so it didn't knock me far from the goal - obvs - different situation, but still.

Good luck La plan, I am looking forward to you getting what you want, I am sure you are looking forward to it more.

LadyWithAPlan

@HotDog2020 tx for the support, info and comfort - the flat feels very right actually - so if it does not come through I will be surprised but  it will because the next place will be even more perfect -  it feels as if I am slightly underbuying if anything (1 bed v 2) but its ok to have a smaller mortgage.

I am a FTB so dont know much on this.  - I am getting a MIP sorted now -speaking to broker this afternoon to get paperwork moving - as I will need one for speed.

Fortune_Smiles

Sorry to hear that the flat didn't work out LaPlan but what's for you won't go by you - there's a perfect LaPlan home out there waiting for you.

Fortune x

Merlin's_Beard

Always appreciate a GO reference, you know that

I think you've got the right attitude on this - keep looking, and if it comes back, it comes back and it was meant to be. If it doesn't there will be other flats out there and who knows, your perfect 2 bed might pop up next week!