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

LadyWithAPlan

@skint_spice and @beanielou indeed ! I actually finished work at 11pm having done the other HUGE excel (been working on it for weeks it feels like... now I wait for pushback..

So 2 BIG FROGS done - work and ni..
PLUS set up TT isa.
PLUS  restarted a competition wins excel to motivate me 

@savingholmes yes that service charge level frightens me and in London they just keep pushing up with no limit it seems.
 I do understand @South_coast point on other lease holders but many of these £3k flat charges are being run by not well managed companies covering gyms, outdoor gardening and no actual bills.. and I am trying to avoid leasehold in london and want at least a share of the freehold if possible

 South coast a boiler fell thru? where your ceiling?

oops
Despite or maybe because of all the frogs I have been eating I stopped to have some food and accidentally spent some money ...oops. I have wanted a certain coffee machine for years and one popped up on the auction site along with a steam mop and a foot massager (came in a bundle) I waited til the last minute and was overbid, then popped £1 more in and oops I won them all. 
The cost of that new coffee machine is nearly 3 times what I will pay  so I am ok, I do have birthday money set aside as well as other but one minute I was in my emails and saw then looked  at truly beautiful marble tables and desks (which I dont need) on the site  and then I thought oh i will just google this brand... So not terrible overspending but this money is now not going in my TT acct.  I have found over £500 today at least with this tax thing at least. This is not the TT focus i was planning !

South_coast

LadyWithAPlan said:

 South coast a boiler fell thru? where your ceiling?

Ah, apologies. I didn't phrase that very well (could have done with a comma!) We have a communal boiler at my place, so what I was trying to say was that if the boiler breaks down (or needs servicing/whatever) then it's not my problem, it's the man co's. Plus, the service charge includes the cost of the heating and hot water, so worth asking what's included for the quoted price

TallGirl

Coffee machine sounds exciting think of the savings you will make on having coffee out now you can take one with you. Can you sell the other two items or will you keep them? 

Well done on all the frogs that is great going I really do hope you get your money from that company it must take up a lot of headspace having to fix their issues and not get paid for it. 

Service charges are a pain but usually part of flat ownership. I think you will struggle to find a share of freehold unless you go for a small development from a converted house type of place but that could also suit you well as that should have some sort of outside space if you get the lower levels. 

Good luck with it all. 

savingholmes

Have you sold your other wins now like the phone and the kettle?

savingholmes

Could you sell your hairdresser win?

LadyWithAPlan

@TallGirl I am actually looking for the lower half of a converted house so garden access etc .. they often do have share of freehold or leasehold with just one or two others so then at least the service charge hopefully contributes to roof repair, building insurance etc

@South_coast I am keeping my mind open but avoiding the huge blocks of flats with lifts, gym etc... I saw one tiny  flat with a £216+ pm service charge and it only covered the water in the utilities.. It is the big buildings with terrible managing freeholders I am avoiding .. I have 2 friends who own leasehold with swimming pools - both have had nightmares with leaks so it affects whole building and becomes v costly and you cant use the pool

the oops auction purchase contains some useful items as well as my coffee maker..
Coffee machine - it is a very stylish SMEG one I have wanted for years, not in the colour I wanted originally but it will be great.
The other items are a new  12 in 1 steam mop  that is hand held and also upright that remains charged for 12 mins  so you can unplug and clean  ceilings, floors etc ...-  also you can steam upholstery, clothes, kitchen taps, tiles etc  with and v good at cleaning floors so it will be v useful,
The 3rd item a  shiatsu foot massager! This may be a xmas gift unless I keep it myself. Looked tonight to see if i could pick up a bin but some lots with too many bits in, the marble tables were gorgeous though - but I don't need one right now - at least I know I make coffee every day.. I am thinking of my TT cash isa.

@savingholmes  I sold my phone £157  profit after postage  - that went into my new TT OP isa 
The kettle is still in its box - may gift it - colour matches what I have just bought in an expresso machine 
on the hairdressing thing I will take my mum as a bday treat - she quite excited - treatment cut and blow dry for two even if we don’t use the colour part 

LadyWithAPlan

TT OP cash isa  £3! 
just seen I have had tiny amounts of interest paid on my old virtual pots £1.70  so this is now being transferred to my op isa. I have also found £1.30 in my mortgage pig - off change so £3
Got a mini target of £850 per month extra - to equal what my mortgage c rent will be - so £600 in cash isa and £250 in my Cov regular saver - max
Sep added
£250 to Cov 
£280.01 tbc cash 

Why ynab is working so well for me .. understanding how spending on anything impacts my savings- so it makes me look at my priorities and if I am honouring them 

I was saving for Xyz ( a house deposit, clothing pot, some side hustle equipment ) and now I have to take money from those areas to fund my expresso machine which was a deal but … 
I have accidentally unplanned spent £104 on the oops . So now I have to look at which categories I can draw that money from ( I am due more money in this week but I have to acknowledge the unplanned spending now rather than taking it off cash incoming as I just don’t feel the pain that way )
Before buying my oops I did check my YNAB to find the money first  - however I should have really moved the money over first  (though  I was on an online auction) - I certainly have not got into debt … but I know I need a new pair black flat knee length winter boots (smart with dresses and office /running around) as my last pair has died after 15 years use so  that’s at least £100-200 I need to save to buy them - so withdrawing my clothes category into coffee machine means my boots are further away

It’s not the end of the world but YNAB does teach you to look at your money as finite and how every spend impacts my choices 
 

Watty1

Your thread has crystallised something I have been thinking for a while. I am in no way disciplined enough to fill YNAB but I have been thinking I should save every month what my mortgage payment would have been.   The deal I did with the ex meant there was no way I could get a mortgage so I had to raid every penny I had (and some) to buy the house.   The only reason I have been able to do up the house is I'm not paying off a mortgage but I'm equally not building savings so I am thinking I should move a sum into an account to equal that rather than sailing along as I am now.

LadyWithAPlan

@Watty1 thats sounds like a great target. I am trying to target monthly living on the budget I will need once I buy (so saving the difference). However I am failing so far but I am trying to, as invoices get paid, get  my  'true expenses' pots built up  so monthly sinking funds, one month ahead full bills, and then the extra £850pm i think my mortgage payment will be... of course Xmas is heading my way and I know I am not ready for that either..

The ynab I never thought I would have the discipline, patience, time, need  or indeed desire to get so granular with my budget - it has however really taken me awareness of my spending etc to the next level and I can happily stare at it for hours.. yes I am sad I understand and am with everyone's now obsession with it  

COMP wins - some nice ground coffee!
Not sure how many packs I will receive but given I buy it in bulk anyway that will be a v useful win..

Comp win coming up to use - I also won a v fun immersive dining thing which is happening next week, it looks properly a little mad. Cant wait ! Its dinner, wine and an experience for me and a friend... and money for a cab!

Very busy with work and had indications loads more work to come .. which is good once I get paid in full. So not spent much time looking for a new job as still crafting the CV and I am busy with actual work.. 

SOFTWARE I have also been offered a free trial for 2 weeks of some v cool software for sports betting, I am going in slow but will give it a test and then can decide if it works for me and if I want to pay for it.  MB/sports trading is a decent side hustle of mine, profitable and tax free - but good to see where it is moving to as tech moves forward.

'Having the heart of a teacher' that hackneyed phrase is very wise.
I helped a friend who has hit SP age and he is with the S*P wealth people -  he asked me to look at the paperwork as he is not v knowledgeable on pensions. I had not realised all the issues going on but as soon as I started looking at the portfolio  alarm bells were ringing..  He was basically sold into  very expensive unnecessary high costs fund, no charges listed even though we  asked for them  and noone explained to him or taught him anything and they are earning ££££  a year taking away a lot of his capital growth.
 I compared a  SIPP of mine  starting at same date  5 years  ago - mine started  at 0 vs  his  decent lowish 6 figs  start over the same period and  I have only made £7k less than him in 5 years, and I started at zero! !!!!!   and I am still less than a 4th of his size..I am only buying in V*nguard funds...and holding...

Their early withdrawal charges 6% ! and drops 1% each year..., what looks like (except they wont release the figures) very high intro fees like 5% to buy a fund that is no different than Va**uard.  There is now an opaque 1.96% annual fee as the FCA now hassled them  but the funds behind each portfolio are all bundled and expensive and you cant change them out.
Of course I google the company and see the company has now put over £450m aside to deal with client refund cases as the FCA have reemed them on their fee structure, high charges etc.

My friend has had people calling him about it to go after them legally - he had no clue what was going on and , when he asked his SJ* manager contact he was told 'they are just ambulance chasers'  - really not the truth when the FCA have waded in so hard and these fees are punitive and very high early withdrawal fees starting 6 years on the  clock  at every contribution!!! 
I then went on to google, from the Times, the  FT, reddit its like they have caused so many people to lose a fortune in lost opportunity due to their insanely high fees. Scary.
 I am now organising for him to have that free call with pension wise but I have been on him for years to open a Vanguard as he is still working and learning himself so he has the power. I am going to slowly get him to start adding small amounts into a Van sipp so he can start taking control and not feeling scared, so he can learn about it himself  on such an important thing. I am appalled though at that company, people should not profit off peoples ignorance on their life savings!!

swedish death cleaning
A friend popped around and exclaimed how great my flat looks, clean and decluttered. I had just had my robo vacuum mop working but you can definitely feel the difference. More to do, so much, but it is looking and feeling more organised. I think it is like layers, I am looking forward to my oops purchase of the 12 in 1 steam mop thats also handheld so I can do the bathroom and kitchen floor and wall tiles and apparently its great for windows etc as well. Will report back.

FOOD
I made my first chicken stock of the autumn, shoving in loads of frozen bits of veg. I have now made a bean and veg soup, with a little bit coconut cream. I also added some sauerkraut in it, its v tasty and filling, nutritous too.
For lunch I grilled an ostrich burger as they had them in Morries on sale, along with my beans, loads veg etc, I even bought some frozen brussel sprouts to increase my veg variety

The slow carb is going great and indeed I cooked a mexican meal yesterday for a friend (well I used el paso refried beans) pan fried marinated chicken breasts, a rocket salad and a spring onion, red pepper, cucumber, tomato, mushroom, avo salad with guac and salsa and hot sauce, He loved it he had two portions, of course no rice and no bread was served but it was delicious and with a glass of red wine slow carb, he is still raving about it today.
 

themadvix

SJ* are a disgrace and I do not understand how they’ve been allowed to get away with it - the FCA clamp down is well overdue. Glad you are able to help your friend - I hope he was appreciative and has had his eyes opened.

Immersive dinner win sounds fun!