The Mental Debt Struggle...

KajiKita

The last time I bought a microwave I got a super cheapy one from somewhere like M0rrisons or Arsda. It’s low powered and literally just microwaves, but is still going c. 6 years later? 

KK

beanielou

I got my last microwave from Amazon warehouse super cheap.

badmemory

If you are doing self assessment your tax code isn't really relevant.  Also payments on account are applied when you owe over £1k.  I am going to put I think on the end of that, see my username!

Keedie

It's a basic Argos microwave, that I've got at the moment @KajiKita, but it's 700W is acting like 500W 🥴 as it isn't heating as well as it used to. It needs like an extra minute or two to heat the same things that I would normally heat and sometimes it's not fully hot in the middle and needs to go back in for another dose of mini radiation. I'll have to check out Amazon Warehouse @beanielou for the microwaves as I'll have that voucher. I completely forgot that they exist so thanks for the reminder. 

Oh that makes sense about the payment on account @badmemory, I was wondering why there was no advance payment for 2024-25. The tax calculation that HMRC gave me had a breakdown of my employed salary earnings, self employed, the minuscule interest across all my accounts and then it deducted my personal allowance, but the personal allowance didn't match my tax code personal allowance. My tax code gives me a higher personal allowance as I followed the MSE advice when we were all working from home and got it changed and we've remained on contractual hybrid working ever since. And the self assessment has the standard personal allowance. So I'm a bit baffled by that. Maybe that tax code only applies to my salaried earnings... 🤔🤷🏾‍♀️.

badmemory

What I did when I had more than employed earnings & had to file self assessment was to work out for myself (ignoring everything from HMRC) how much I would owe & how much I was actually paying.  Compare the two & see how far they were out.  Which was actually very little.  Usually because I forgot that they rounded amounts down to the next pound.  Interesting fact for those who probably have no interest in this.  Self assessment rounds down, but simple assessment counts all the pennies too, so could cost a whole 20p or 40p more.

Keedie

Yes you're right @badmemory, I need to do my own calculations as well. I did some rough ones but using my actual tax code's personal allowance, but I'll redo it with the standard personal allowance. I'm feeling less stressed now that there is no payment on account for 2024-25. As it means the money that I have at the moment (the £322.42 in my Monzo tax account), will actually go towards the 2024-25 tax bill, but I'll be ahead in my own way. The Monzo business account automatically sets aside a fixed percentage (that you determine) for tax, and so I'll have a good buffer to start with.

I've been so tired doing this school run this week, and it's only week one. My sister is able to move a bit more, but considering that her neck had all but collapsed and they practically broke it to repair and replace parts during her surgery, she's not going to be driving anytime soon. So I was talking to my Hot Chocolate Nephew (her son), and told him the schedule for me taking him to school every mornings and which days he'll be at breakfast club (the days I work) and who is collecting him after school (me or my mum when I'm working). He seemed quite happy with that and I told him that I'll a schedule on Canva and print it for him and he can stick it up on the fridge at my mum's house, so that he knows what is happening each day. It gives him a sense of routine as he's only 9, and he's had to move to my mum's with my sister whilst she's recovering from her operation.

I've been doing some research on Etsy, so that I can see whether or not it'll be viable to get a side hustle going, selling digital downloads for savings challenges and trackers. I need to find a way that some of the things I've been creating for myself, might hopefully sell, but in a way that is passive and I don't have the stress and anxiety of scrambling to make things or post orders. My anxieties and physical limitations don't go well with the pressure of having to leave my house or put together an order. I was helping my sister pack an order for her online boutique last night and that was stressful! Especially as the customer was all the way in Denmark. It's good that she's got international orders, but considering that she can barely move at the moment (which is quite often the case for me), I could see how frustrating it was for her to have to rely on me and my mum to help her.

Budgeting stuff on Etsy is quite a crowded marketplace with cash budgeting becoming more and more popular, but I'm trying to see what I can hustle. If I can break even on my annual Canva Pro subscription, I'll be very happy. It was actually my sisters and my brother that told me that my designs are good and my concept of budgeting could really help people. And as I've done things very colourful, they're eye catching so that budgeting isn't boring. I'm not sure if I really have the confidence to put myself out there, but I'm going to look into it more and see. There seems to be mixed reviews from sellers feedback and experience on YouTube, but some of them may just be Negative Nancys or Negative Nigels... 🤷🏾‍♀️.

My expense tracking has gotten away from me in the last few days as I've been so busy and utterly exhausted. So I need to try and sit down tomorrow morning when I do my Sunday Summary and see if I can work out what's what. We're so close to the end of the month and I know I've overspent, cos of the glasses, but I need to see what the damage is, so that I can budget May better. Although, that's actually going to be a rather spendy month... 😬.

Cherryfudge

Putting things you've created on Etsy is a great idea! You have talent and I'm sure they would appeal.

beanielou

As you say it’s quite a crowded market but it sounds like yours will really stand out so that’s awesome.  

Glad your sister has had the op. Well done to you for taking so much on to help. 

PennysIntoPounds

If you're feeling enthused about the side hustle then absolutely give it a go, however I'll gently remind you that you've just gone back to work, you're supporting your son and have additional childcare duties for the foreseeable, and helping your sister with her business, as well as wanting to do sort outs and refreshes in your home. If at any point you're feeling overwhelmed, don't push yourself! Your wellbeing comes first

Keedie

Thanks for the encouragement everyone with the idea of a digital downloads side hustle. But yes, definitely something I will pace myself with @PennysIntoPounds. I'm not looking to do anything until the summer holidays. I don't even have a logo or anything like that and I need to do a lot of research about how it all works.

At the moment, I'm just going to focus on getting my flat sorted (although I've procrastinated on the dishes this weekend 😬), whilst I tweak some of my designs and organise my own budget. Things haven't been going too well finance wise (due to overspending and poor planning with meals etc) and I need to get on top of that. I've also been spending more on petrol as I've been doing the school run etc. So it needs a rethink in general. I rarely drive, but now I'm driving 5 days a week doing the school run, but I can't ask my sister for money towards the petrol, as she's got two kids and she's about to enter half sick pay as she's not been in her job long. 

But the plus side is that this has all given me a new routine, and it's helping me to think about what I'm doing with my time etc. I should hopefully be debt free in December 2025, and I'm starting to think more about what life will look like, post debt. I've had debt since I was 18 and went to uni. I'm starting to get cautiously optimistic about how freeing that will feel. And I've decided to live life and start to lay the foundations for things that I want from life. What job will I do when I don't have to worry so much about servicing debt and actually have savings? What low cost or free hobbies can I start to get involved in so that I enjoy life more but don't slide back into debt? Those kind of questions, and wondering what I want for life and how that might look and feel when I'm not confined by always having to think about staying in a job I despise simply because I need a stable income. 

But first, I need to get my overspending under control, as having no debt repayments is only going to free up a minimum of £300 a month. So I've trying to think of ways to boost my income that doesn't require working lots of additional hours in my HR job. I really want to travel more, and so I need to clear the debt and build some savings.