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A new chapter, An empty nest, Drama school & Last year of Uni

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  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Glad the money situation is improving. Beware of the bank of mum and dad trap. It sounds like you need to focus on yourselves for a while... 

    Hope you are okay.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • satchmo1
    satchmo1 Posts: 3,221 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    This may help?

    I told my two adult sons that the bank of mum needed them to keep up with repayments, that way if they needed help there would be funds... otherwise there wouldn't be any funds to help. 
    What would you get if all you got was what you were thankful for?
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    satchmo1 said:
    This may help?

    I told my two adult sons that the bank of mum needed them to keep up with repayments, that way if they needed help there would be funds... otherwise there wouldn't be any funds to help. 
    I love that idea.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    That does sound like a good way of framing it! 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • Spendless
    Spendless Posts: 24,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I've had my contract at work that was due to end this month extended until late March. 
  • That’s brilliant news xx
    slowly working towards being MF one small over payment at a time :T
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    So pleased for you. Shows they value you.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • Spendless
    Spendless Posts: 24,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Things are becoming easier now my contract has been extended for 6 months and I'm on the correct tax code!  We talked it through and we were able to mange to book a few nights break in Italy for me and DD, a trip before she moves away again a few days after we return and also  a sort of belated 18th birthday present too. DS had a road trip in Europe with DH for his, but DD's 17th and 18th birthdays were in lockdown, her 18th was the week people were allowed in gardens only. 

    It's a year this weekend since she moved away for the first time with all the issues that came with it. She very recently told me ex had been messaging her again not so long ago,   pouring his heart out full of regret, more in a 'woe is me' way than actual sorry. Told DD that him getting with her (now ex) mate had been because he'd never felt a stronger connection, then the next message admitted that it was because it was the closest, he'd found to replicating his and DD's relationship (I suspected this all along, the common ground that had given the girls 8 years of friendship was what he saw that reminded him of DD, with an added bonus for being able to hurt DD too). He said to DD that they could get back together, and no one would have to know, and also would she get back with him if he apologised to me. DD's responses to me about those were 'as if' and 'not apologising because he's sorry'.
    Anyway I believe he's gone quiet again (for now at least) and maybe has got the message it's too late, she's not interested. She said she never responded to him. 

    There's the possibility that DS and gf may be moving closer to us, there's a possible affordable house for them to rent. They have jobs but they're very basic. There's more scope here for them to find something even if it's a commute. 

    We've been able to book a hotel for me and DH for when we take DD to drama school using his loyalty points and another for when he needs to get her back after her pageant final with his loyalty points, so those dates have cost nothing. 
       
  • Sounds lovely to be able to go on a trip with DD like that and make memories.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • Great trip planning and what excellent news about the job contract being extended too - what a big sigh of relief there! 

    Also sounds like DD is being very level-headed about the situation with Ex. 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
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