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

Spendless

Thanks. Can't say I enjoyed my return to work for many reasons inc that the promised redecoration of our office hadn't happened and won't be for another week! We are sat with desks where we can and having to manage with all office equipment all over.

On a positive note I opened an ISA., That wasn't straight forward not so much the setting up but that Mr S seemed strangely unenthusiastic about it,  and asking why I wanted one (we have both separate and joint accounts but regard all money as 'ours' and always have so it wasn't that) which seemed so out of character for him, I even challenged him why he was against me having one and still didn't get a reply I understood. I insisted I wanted one. During the setting up we were talking about them in general and he remembered the tax benefit to ISAs compared to how much interest you can earn as  a basic rate/higher rate tax payer in a savings account (as explained to me earlier on in this thread - thank you) and that had been why, his point being I hadn't got quite enough to reach the limits where being taxed kicked in and the interest rate was higher in some other savings accounts. My point was I am continuing to save to pay back the additional expenses we've had so whilst I might not have enough now, I intend to so the money could do with being moved whilst I still can. Mystery solved -lol.  He doesn't t believe my views on Rachel Reeves next budget. I am of the opinion that the current amt you can save each tax  year will be cut from it's current rate but not as low as £4K The reason I think this was a blog (I think) on here long ago when energy firms first started making high  rises and it was explained that if the media was saying 'fuel bills to rise 10%' and then when the info came out it was 7% your mindset was thank goodness it's not 10% rather than Jeez a 7% rise. I suspect the same strtegy is going off here. My own prediction (accepting I know little about finance) is the amount you can put away each year in an ISA will be somewhere between £6-£12K.

Right got to get to work now. 

badmemory

I completely agree with your logic re ISAs & hope we are correct.  I have some money needs moving but doesn't become available until the new tax year.  It is from a long fix from when, if you were lucky, you got nearly 2%.  It was good back then.  I had one fix back then that was on a massive 0.5%.

Spendless

The low interest rates from a few years ago are why we never got round to moving a chunk of savings when we got a windfall. The downside of course was leaving the money in our 'everyday' savings  accounts which meant we started dipping in to them more than if we'd either locked an amt away or had them less easily accessible.

Looking into the extra expenditure we've had, it all starts from Autumn 2018 as eldest starts Uni, I worked out that the overall cost (if we'd been paying from wages) would amount to £500 per month for the last 6.5 years till now. As that doesn't seem an unreasonable cost per month it shows how quickly stuff  mounts up.

I saw a friend yesterday, she works for a bank, we  were talking about ISAs she told me that nothing will be able to be changed in this current tax year and it's debateable whether things will be able to be  changed in time  for the next (25/26).  Glad she confirmed that changes wont happen till after April 5th, time for us both to get another payday in, I'd only read an article the other day where I realised the current amounts will stay for this tax year, previous to that I believed the budget announcement would say something like ' and from 6pm tonight ........' The way they used to make changes at budget day  in prices of petrol. That one lives with me cos my (late)  Nan used to then ring me and tell me to make sure I went and filled up before the deadline. Nan didn't drive so could never grasp that filing up at the cheaper price would only benefit me till that tank ran out - lol.

I've started buying some more groceries to fill the cupboards as I believe with the rise in NMW (which I will benefit from because I am only paid slightly above and this rise takes me over what I currently earn ) and the increase in rate of employer's NICs, these  will all end up being passed on tot he consumer in rising prices and with some places taking further advantage over that. I remember the CoL crisis starting a few years ago and how frequently the stores were changing price and how often I found missing price labels, I even dubbed it the 'guess the price'  phenomenon. 

A couple of weeks ago we bought a pack of steak from a supermarket. We've had it before and it's been lovely. This time it was as tough as old boots! However I didn't want to throw the other 4 pieces away! We put it in the freezer with a plan to cook it another way or if they didn't work feed the dog the remaining ones! Anyway I defrosted 2  steaks on Sunday and then on Monday ut them up and added veg, small potatoes and a casserole mix I had in into the slow cooker and let it cook for 10 hours. It was gorgeous. The remaining 2 steaks are going to be made into a curry also in the slow cooker. Sorry dog looks like you lost out - lol.  

badmemory

I don't see how they can make the change until the 26/27 tax year.  Any announcement later this month will only be 2 weeks before the new tax year starts.  I really cannot see all the banks being able to change their software in just 2 weeks.  We all know how many or should I say how few people actually read about these things, so without the software change there will be so many erroneous accounts.

Spendless

badmemory - Looks like you and and my friend are correct if recent news articles are to be believed. No changes to Isas likely to come in till 2026 tax year. That suits me just fine more chance to save and stash away. 

Hoping I can keep on saving but I've had a bad week at work this week, caused by me taking a half day off because I wasn't there to explain something and it's been very much twisted negatively towards me what has happened, whereas the reason I hadn't done something was because I had prioritised exactly what I was asked to instead, which has been replied to the 'powers that be' in writing exactly the same manner it was relayed to me! It just wouldn't have happened if I hadn't taken 4 hours off last week! . I'm so fed up of the calibre of 'entry level' jobs in the area I live, because they are full of toxic bad management that does nothing to help the bottom feeders and just blame them whilst never putting in place more efficient working practices. Last night really had me questioning my choices. I can accept the poor pay that my coworkers complain about constantly, that's not my drive, my point to them is being paid more wouldn't solve the issues we have, I'd rather sort the issues! Looking for another job would just have me finding something just as bad. Daughter doesn't graduate until summer next year. We need to repay the big dent we took out of savings supporting the kids through the past few years because this is money we need in our old age and my current private pension pot is nowhere near big enough to give up as this point.  The house needs updating because we've had to have everything on hold for years and I don't live in an expensive area anyway so though mortgage free we can't downsize to anything much cheaper than what we already have. 

So I am glad it is the weekend tomorrow though I do feel the way daughter used to reply to me when she started struggling with school in her last year and I'd say 'you haven't got long to get through' and she'd answer 'my issue is getting through it till it ends'  Tomorrow interest is paid on my everyday savings accounts, in the past few months sometimes I've forgotten about it, this time I can't wait for it to hit the accounts which will be in the early hours. I want to round up one savings account to the next £1000 and use some to pay daughter's rent for the last week in March. I've already put away next week's rent. I do it each Friday after the landlord has been paid on a Thursday.  

Nan had another issue with the microwave yesterday. My parents dashed down to see her after dropping my dog off because 'it was getting too hot'. This is the new microwave bought a few weeks ago after she blew the last one up by heating a can in it! What my parents think has happened this time is that she's taken the glass plate out of it and the rubber ring it sits on because Nan said 'the plate was getting too hot' and tried to heat her sausage rolls directly from the microwave base! Part of me wonders if she's angling for her gas cooker reconnecting cos she understands that the way she doesn't understand anything that comes with a plug! But falling whilst cooking was what landed her in hospital at the end of the year and the saucepan she was using  was burnt out and all the smoke alarms were  going off! I said to my Dad a few weeks ago when I felt he was possibly going to waiver on having it put back on (it's just the electrical ignition that has been switched off not the gas disconnected) that he couldn't possibly have it on his conscience that he reconnected it and Nan was hospitalised or worse as a direct result. What do you do though. All this is so unfair on my parents at their time of life, they don't know how long they have left themselves but their lives are on hold, they can barely go anywhere, they ended up cancelling their holiday and are unable to book another. I had to take my Mum away separately for her bday and they managed a lunchtime meal recently purely because I gave Dad a Nando's giftcard for his bday and suggested they went on  day/time when Nan was being occupied by another relative. Meanwhile Nan is deemed 'well enough' to not need any care. The carers put in place when Nan was discharged only came for 10 days before it was decided (by care company) that she didn't need any care, which was an improvement on last year when they only came for 1.5 days before the same thing was decided.  

I'm so down due to all the above, it's unreal. Going to go and have to psyche myself up for the next 20 minutes before I need to go to work. 

KxMx

Just because the post discharge re enablement care has ended doesn't mean other arrangements can't be put into place via another route. 

 
Has your family looked into the costs of paying for care privately, could Nan afford this, is she getting Attendance Allowance? 

https://www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/attendance-allowance/

And/or your parents can also ask for a carers assessment for themselves as carers, and a needs assessment for Nan, these can be done at the same time. 

https://www.nhs.uk/conditions/social-care-and-support-guide/help-from-social-services-and-charities/getting-a-needs-assessment/

https://www.nhs.uk/conditions/social-care-and-support-guide/support-and-benefits-for-carers/carer-assessments/


I know how you feel, I have to deal with a very unwell parent and I'm under 40. It's not fair I thought I had another 20 or 30 years before I might have to deal with such a situation.

Sometimes you have to practice tough love by giving them alternative options to choose from which doesn't include yourself (or parents in your case) doing everything. 

Spendless

Thanks for those links. Nan does receive AA (not highest rate). Its being used to pay for her cleaner, gardener and 'meals on wheels' 3 days a week (the other 4 days being covered either by the cleaner, Dad or another relative - set days each). Im unsure if theres any surplus after these costs. 

The carers stopped coming because Nan was getting herself up, putting herself to bed, getting herself washed (I suspect at the bathroom wash basin). Mealtimes were the biggest issue and she was complaining about constant microwave meals and what they were. As you can probably tell shes very traditional. The other issue is when things go wrong then she rings my parents and also grocery shopping, where she's asking cleaner/parents/relatives to.all get her shopping (far more than she actually needs). This certainly needs addressing. Im.just not sure how. 

I think your last paragraph sums it up thank you and Im going to have to chose my moment and chat to my parents about what can be changed going forward.

I went to bed early because Mr S was on a night out and away o/night. I woke shortly before midnight and have been able to get back to sleep (past weeks events all in my head!) Ive been periodically checking my bank account to see if the interest has been applied yet - lol. Not so far. Wonder what time it updates. 

Spendless

The answer is it updates around 3am! Ask me how I know!  It took me a further hour to drop to sleep and then I awoke at 8 the latest I've done for a very long time! I dreamt I was back in my 1st childhood home where we lived with my grandparents and was being shown around by students who live there now (this bit would be true  as I saw it advertised as a student hours online some years ago) and was explaining how it used to look when I lived there. I woke up wondering what the meaning was and wondered if it was  somehow related to the past week's stressful events or that yesterday would have been my (other)  Nan's 10st birthday. The house is in a different city to where I now live so I've only occasionally seen it (from the outside) in RL. I moved out with parents to where I live now when I was 5 and my Grandparents moved from there when I was 8 due to my Grandad's ill-health and it not being manageable.

During my awake in-between hours, I did move some money around helped by the interest, one savings  account to the next £1,000. and another to the next £100. 

I do have some cash to pay in via the post office ideally today if not on Monday. Mum gave me cash towards a meal a few weeks ago  we'd had and this is what's left. Once paid in it will mean I have daughter's last week of the month ring fenced and can go through what is left of this month's wages to pay for bills I contribute to and the rest be able to save.

A grocery shop needs to be done, I am so good at what I eat till I get home from work and then I'm tired and can't be bothered especially if DH is working away and I need to address that. Mum is calling later to help me reorganise my bedroom as I sent my now glamped up  and no longer needed drawers to daughter but need to reorganise and sort what I have in place now. 

Spendless

My new ISA has a feature I love. Interest is calculated daily and paid monthly but each time you log on you can see the pending interest accruing each day. What an ace feature. I poured savings inc my inheritance and the money I've saved for daughter's term abroad into this ISA, however I'm a little short of my full allowance for this year, but I think if I take more from what we've currently got in our general 'everyday savings' and also take from this months wages plus next months (thankfully am paid before start of new tax year) I may be able to get to the max amount I am allowed to put in each tax year.

Yesterday Mum helped me sort my bedroom and I continued with another cupboard after she'd gone home. I then joined Mr S and some friends for a night out, I was driving so just diet coke for me.

Not sure I should really count this as a coin purse win because it was found in my regular purse but in the notes section for some strange reason. 2 coins a £2 and a 50p. Has been moved to coin purse as that had become very depleted there was not much over £1 in it. 

badmemory

I like the idea of your new ISA, but I am way too anal to need the feature.  I am holding my breath because I messed up last year & didn't move something into an ISA when I should have.  I have one account maturing right at the end of the tax year & another a couple of weeks into it & that is over £4k.  I am really sure they can't do anything in 25/26 with ISA values, so fingers, toes & the way things are going eyes crossed.