Five Year Fix, Five Year Plan

savingholmes

Glad that you had a great time. Well done on the OP of your student loan 

South_coast

Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍! 

Glad you had a good break, shame you can't come home to wads of cash every time though!

Merlin's_Beard

South_coast said:

Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍! 

Glad you had a good break, shame you can't come home to wads of cash every time though!

I'm quite happy to repeat the experiment, just to see if it happens again 

KajiKita

Merlin's_Beard said:

South_coast said:

Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍! 

Glad you had a good break, shame you can't come home to wads of cash every time though!

I'm quite happy to repeat the experiment, just to see if it happens again 

I like your enthusiasm for this idea 😊❤️😂

KK

FlacosFloozie

Glad you had a good break and well done on the tax rebate

savingholmes

Merlin's_Beard said:

South_coast said:

Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍! 

Glad you had a good break, shame you can't come home to wads of cash every time though!

I'm quite happy to repeat the experiment, just to see if it happens again 

How much have you got left to go?

Merlin's_Beard

savingholmes said:

Merlin's_Beard said:

South_coast said:

Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍! 

Glad you had a good break, shame you can't come home to wads of cash every time though!

I'm quite happy to repeat the experiment, just to see if it happens again 

How much have you got left to go?

I think that's probably all the tax rebate I'm due, sadly. Until the whole thing starts again next year.

Merlin's_Beard

Never rains but it pours - driving out to an appointment and the car went clunk and started sounding like a boy racer revving up for a drag race.

So now it's at the garage getting fitted with a new exhaust backbox and I am not going out. It circles me back to the whole "how much do I need to start looking for a new car" debate again as well as "how seriously do I need to start saving for a new car instead of getting house stuff". I was quite lucky today in that it broke two minutes from my house, on my day off, and there was a garage in my village that had space to see it and fix it (even if I can't tell my dad because it's the one he has Beef with).

When I look back on my YNAB categories, it's cost me about £1350 in repairs over 2022 and 23 (including what I'm expecting today to be) as well as £700 in services/mots (I think the timing belt change is included in that category).

I'm also lucky because if I genuinely was struggling, I could borrow a family car that isn't often used and still get to work (my parents have two cars but since they're both retired they rarely need both at the same time).

At the minute I'm throwing £100 a month into a "new car" category, and have £500 in there. If I was going to do what I did last time and buy a 2-3 year old car then that's potentially about £15-20,000 at the minute. The vague, vague plan was to let that category build up slowly for a few years, then turn my attention to it a bit more once the house was a bit more sorted. Do I still stick with that? Who knows.

KajiKita

I’m having a similar sort of debate about my car too …. It’s developing electronic ‘opinions’ …. 🙄 (I.e. it has faults that flash up and then stop again ….

KK

redofromstart

I'd start ringfencing the savings at the car savings fund till it does get to 'beyond economical repair' stage, we have had a few from the easily accessible place near the airport without problems but I've always had the funds and traded in rather than finance and private sale.