Getting FIREd up 😀

South_coast

Far too easy to think there's always plenty of time though 🙁 hence wanting to at least get something down on paper!

South_coast

I remembered this exchange earlier today:


*Cough* I believe she who laughs last laughs loudest 🤷‍♀️?

QueenJess

Ha ha. My husband asked me why I started paying down the mortgage within 3 months of getting it. He said it was a waste of time.

Now he is really pleased I did and has spent the last few years trying to catch up with my overpayments so we are even! If I hadn’t have done that we definitely wouldn’t be in a good position right now with the rates going up and still two very expensive years of nursery fees to pay.

savingholmes

Well done on the net worth calc. I think with your will keep it as simple as possible. 

You need to decide who will be the executor. They have to do a lot of running around so personally I would leave them something for their trouble. 

Then decide who else you'd like to inherit (if any) and whether it's an even split or not.

Decide whether you want to leave any to charity.

The sooner you do it the better - otherwise there's a risk some random relative will get something or worst case the govt.

South_coast

If it were as straightforward as that I would have done it by now! I know what I want to do, I'm just about £50k of being able to do that right now, so I need to work out how I organise it until I have that extra amount

ruby_eskimo

October is national will writing month so you can get it done for "free" (think it's just a donation to charity) so you could get some legal advice about your interim arrangements?

One piece of advice I'd say is don't go with one of these probate trusts to take the burden off of the executor; we're having real issues with DH's godfather's estate and one of these Trusts.  Basically they've had the money sitting in their accounts earning them interest for the last 3 months and won't release it.  Every time they promise payments will be made, someone integral to the process is off sick and they don't possibly have anyone else who can deal with it.  MIL is waiting for reimbursement for the house clearance, the headstone and part of the funeral costs and was promised she'd get it months ago 😒

L9XSS

Agree with the probate bit, I found it relatively straightforward to sort when a relative passed away, the costs were therefore low and the relative who inherited was happy with the process, timeline etc.

South_coast

It never even crossed my mind that it would need to go through probate, as there won't be that much of it. However, a quick Google tells me I am wrong. More to think about 🤦‍♀️!

South_coast

I read this article the other day, which I found quite interesting (albeit fairly wordy):
https://www.hustleescape.com/conspicuous-consumption/

It certainly backs up some of my (*sweeping generalisation alert*) casual observations. Or maybe that's just confirmation bias at work 🤔? 

Anyway, time to get in the shower and get myself to Lidl to do some non-conspicuous consumption!

South_coast

Right, this week's money-saving/making actions were:
* £5.00 received from Vypr
* £8.12 received from Prolific
* 56p received from TopCashBack 🥳
* £2.50 cashed-in Nectar points 

Not very much this week, but watch this space for next week!!!