Fix Up, Look Sharp

GeorgianaCavendish

A quick flying update! Work has been so busy the last few weeks that it is hard to snatch any time for myself. 

I'm in the middle of updating our budget as the cost of a couple of the jobs has increased, so even though I have another month's savings in the house repair pot we have gone backwards in terms of % saved. I've been expecting this to some extent and I know that the renovation project is not going to be all smooth sailing so just adjusting where we can, and keeping on top of the change in figures so that things don't get away from us. 

I'll write more when I have a bit more time, trying to stay optimistic even though life is a bit stressful at the moment!  

GeorgianaCavendish

astrocytic_kitten said:

GeorgianaCavendish said:

I've got my appraisal booked at the end of next week ... I'm working on my talking points and evidencing my achievements this year at the moment, but if anyone has come across a good article or podcast about pay rise conversations then please let me know!  

Do you follow Ask A Manager? She’s American so not everything applies here, but I love her blog and she has some great advice on asking for pay rises.

I think it’s normal to be feeling wobbly about mortgages at the moment, but as  you say you need to be spending to make it liveable. And by doing that you’ll be increasing the value too. With your track history I’m sure that in 5 years you won’t be looking at a lake but a pond!

I will have a look at Ask A Manager - thank you for the recommendation  

Fingers crossed I get to the pond stage  

GeorgianaCavendish

Following MSE advice I've swapped my Avois points for Nectar points before the exchange rate changes later this month. I've been collecting Avois for 13 years on the few flights I take for work, and adding to it with the TopCashBack rewards for John Lewis purchases which can only be redeemed by Avois. Anyway, I've converted 26,000 Avois so I will have 40,000 Nectar points - I think that will work out to around £200 to spend in store. I think they can also be used at Argos, so I will take a look at what we might need for the house or if there are any Christmas presents I can buy with the vouchers. 

EssexHebridean

Wow that's a decent exchange then - nice one! 

GeorgianaCavendish

EssexHebridean said:

Wow that's a decent exchange then - nice one! 

Very good! I'm anxiously checking my Nectar balance every day (it can take 12 days to go through) 

GeorgianaCavendish

I got the switch bonus from Natwest and paid it into the house savings account I've also initiated another switch to First Direct.

I received the Nectar points and they have been spent. It turned out that a number of things on my shopping list for Christmas could be bought from Argos, so I've used them all and saved myself £200 which I can later put in the house repair fund  
I've got most of my Christmas shopping done now, there are just a couple of smaller things that haven't gone on sale or had a discount code yet. I've got an extra points with purchase voucher for one of them, but I can't use it until 5th Dec so I've got a reminder in my calendar to order it then. 

The tree surgeon finished work at our house and the garden now looks very neat and tidy! A big chunk has disappeared from the savings account but it feels good to have something completed  

EssexHebridean

It really is a great feeling having a job properly ticked off isn't it - we're finally (after more years than I care to think about) getting there on that now too.

Also - brilliant savings made on Christmas shopping there - well done! 

GeorgianaCavendish

November 2022 Round Up 

Savings

House Repairs Fund - 49% (budget updated again!)

Extra Income 

Prolific Academic - £22.91
TopCashBack - £17.00
YouGov - £50.00
Account Switch - £175.00
Avois/Nectar Points - £200.00
Refund Fees - £30.00
Interest on Savings - £3.28 


No Spend Days

19/15 for November
Target for December - 17

GeorgianaCavendish

November felt like a real slog but we finished up the month with some progress being made.

Our electrician was ill for a couple of weeks, so that work has slowed and that has pushed back the dates of the other projects. We're now expecting first fix to be done by 19th December at which point we pay 50% of the overall fee. We're hoping to schedule the builder during January (so full fee due) and the plumber during March/April (50% deposit due at start of work, and rest at completion), then the electrician will come back to do the second fix (remaining 50% due at completion). 

Then we can start thinking about plastering and decorating! 

I know that we are going to have to borrow some money in order to get the professional work finished. Ideally, I don't want to borrow more than 30% of the budget. We need to pay in cash (/bank transfer) for most of these but we've got some flexibility with the plumber who will take credit cards. I'm trying to decide if makes more sense to put the second half of the plumbing job on a credit card (only if there is a 0% deal) or to get a personal loan. I think a credit card would be cheaper but we would need to be really disciplined and treat it like a personal loan, making a high set payment each month (and overpaying where we can) and there is the risk that we might not be able to get another 0% deal at the end of the promo period and the cost of borrowing would go up at that point. 

I need to have another budget discussion with Mr C, who can be a bit of an ostrich with things like this because it stresses him out. I understand that it is disheartening to think about how much money we have to find, but we really need to minimise the amount that we borrow to get the professional work done. 30% is a substantial financial commitment on top of everything else, and it will slow down how quickly we can complete the other work needed. 

EssexHebridean

If you can get a 0% deal on a CC but then as you say treat it like a loan that would seem to be the best - and certainly cheapest - way forwards? Realistically, even if you couldn't get a transfer to another 0% deal when the initial one ends, could you perhaps consider a loan to cover the balance on the card at that stage, then it might still reduce the time you'd be paying interest for?