We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Debt and Caring
Comments
-
The course sounds fun.
You could ask on Olio for sewing materials too...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/250 -
Today's adventure
3 -
Great piece of framing! However I'm curious - what's the hole, why the hole? Is it meant to echo the empty windows of the house?I think a bit of sunshine is good for frugal living. (Cranky40)
The sun's been out and I think I’m solar powered (Onebrokelady)
Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/222 -
Ha. It's a building site CF. Which for some reason has 4 or 5 of these squares cut out of the site gate. It's an awkward angle, the windows straight ahead are actually just a wall. The original house is falling down and they're making apartments so it's like a sneak peek into the process2
-
My other attempt at a photo2 -
I seem to vacillate a lot. Or perhaps I just have negative self esteem (aka the black hole in my head where my mother lives).
In the spirit of reframing...
I started out thinking that I would save up until June in a flat renovation fund. Then go over, do a blitz and either put the flat up for sale or rent.
Since then, I have gathered new information (watched Grand Designs House of the Year), mentally redesigned the kitchen using plywood and calculated labour costs for two ten hour days.
What I've thought about today (after more grand designs...)
-how much is it to maintain a rental property
-can I buy something to give me space here-I dream of redesigning a property to suit me- how much care do I want for Dad and how much would it be?
- The flat work will require multiple trades and appointments so not practical to do in a week-If I can save 3k can that pay for care?
And so on.
So much thinking2 -
The second photo merits a sinister storyline!
I've no idea what the holes in the 'frame' one are about either, but it really works for me.
I don't know a huge amount about rental but we were landlords one upon a time and my advice would be to be careful of renting out at a distance. We had an agent who wasn't 100% on the ball which ended up costing us a lot of money.I think a bit of sunshine is good for frugal living. (Cranky40)
The sun's been out and I think I’m solar powered (Onebrokelady)
Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/222 -
Apparently the house was lived in by an elderly couple and they couldn't maintain it so they just lived in a couple of rooms on the ground floor.
2 -
I don't think being a landlord is something I want to rush into. As much as I'd like to ease the strain on my budget (such as it is) I think I'd be letting (ha pun intended) myself in for a whole other world of stress.
It would be nearly 400 just for certificates to be compliant!
2 -
Been shilly shallying about with budgets again.
Part of the problem is thinking that I'm finished when I've just started. Or thinking my hypothesis is the conclusion 🤦♀️
Watching TTDUP has definitely helped with putting money into perspective and I'm genuinely sad that I've run out of episodes. So much so that I rewatch them when I need a break.
I'm working on a budget for being a landlord, the trouble is I'm not too keen on the idea so I keep skewing the numbers in my favour 🤣🤣🤣. I got an online evaluation of potential rent of 550 pcm assuming that the flat was in good nick. If I was paying fees of 12% and putting aside 3% of the value in maintenance account then I'd come away with 264 a month. If I estimate conservative start up costs of £1000 it would be 4 months to break even. That's without any renovation cost.
So it's something to think about anyway.
I have a few ideas to cost out before I can make any decisions.3
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards