Learning to walk before I run

edinburgher

@Cheery_Daff - you really are cheery

In other news, it appears that I am now a higher rate tax payer if pay offer accepted! 🍻

Cheery_Daff

Ooh, congratulations! An excellent achievement 😊😊 I got close, but managed to avoid it through a combination of getting married, and dropping to only working 4 days. Won't get close unless I go back to full time so I shall have to live vicariously through you! 

(And I can assure you I was definitely NOT cheerful when builder nonsense was happening to me! 😂😂)

South_coast

edinburgher said:

Also on the energy front, we managed to use 0 units of gas in August, I suspect the fact we were out of the house helped

At least you know the builders aren't rinsing you for gas while they're there 😀👍

savingholmes

Congrats on HR taxness... Is that after taking sal sac into account?

badmemory

edinburgher said:

In other news, it appears that I am now a higher rate tax payer if pay offer accepted! 🍻

Is this for the current tax year or just for future ones.  Enjoy the realms of self assesssment, which by the way is way way better than simple assessment, which I hate & is never correct.

edinburgher

@savingholmes - I don't have sal sac - local government employee.

@badmemory - should be in place before Christmas - think that means I can also claim HR tax relief on the SIPP contributions I've already made this year as long as I'm in HR band at some point during the tax year?

edinburgher

Right - warts and all month end round-up!

Savings Rate   31%

Nominal Net Worth   £704,779.11 (Complicated, includes state and DB pensions)

Net Worth Change   -£11,820.66 (Builders and falling investment values)

Target    £958,401

Years to go (estimated on current SR)   18.56

Percent FI   73.54%

This is a classic example of what happens when you spend lots of cash and this coincides with your SIPPs and ISAs climbing back down from recent highs. September should bring some brighter spots, with the last bills for the attic conversion and the fact that my current work pension has now passed £4,000 p.a. (worth over £100,000 to me as I apply 25x, not the 20x used elsewhere as it isn't meaningful to my goals or calculations). If, however, we end up needing a new to us car, September could also potentially be flat in NW terms. We shall see.

On an unrelated note, how expensive is childcare? I have been setting aside £220 in childcare vouchers since a few months after DD2 was conceived. We're up to £1800+ already and need to pay serious money for childcare until she will be 3, when the Cooncil provides funded hours. Despite starting saving so early, we will be in a voucher deficit for approximately a year.

 

savingholmes

I'd check on pension as I think local gov is sal sac

QueenJess

edinburgher said:

On an unrelated note, how expensive is childcare? I have been setting aside £220 in childcare vouchers since a few months after DD2 was conceived. We're up to £1800+ already and need to pay serious money for childcare until she will be 3, when the Cooncil provides funded hours. Despite starting saving so early, we will be in a voucher deficit for approximately a year. 

Oh yes. DD’s childcare is more than my mortgage each month. When she goes to school I’ll be rich 😂. I think at the moment is about £1400-1500 a month as they’ve just put their prices up 😬

Karmacat

Congratulations Ed!  On the HR-ness.  And the prospect of less childcare soon sort of soon, anyway!