Moving on with things

Humdinger1

You are a shining light @alt80! Well done on your enormous progress love Humdinger x 

lucielle

A better nights sleep will help. 

L

RelievedSheff

Glad to hear you are spending quality time with your family Alt.

The sleep will come. Try not to worry too much about it.

alt80

Financially things going well, budget reset at the end of this week and on track with things. See the bigger picture now, building security for my family and in the long run for me too. I want to get to the point my business doesn't need me like it does now. It's something I struggled with for a long time, the idea success makes me redundant from day to day work but I've faced up to at some point I'm not going to be able to work like I have done. I am in a fortunate position to be where I am and on the trajectory to a better future. Today's happiness calendar was to put electronic devices down, I've had an hour off when we took our dog for a walk. It's something we try to do regularly and I think it's a good thing just getting away from emails etc for a bit. 

Managed to get a decent night's sleep again last night and stuck with leaving the office to pick my son up. Been a nice evening, some work done but at home with my family. Enjoying the tea although I don't believe it's some miracle, tbh I'm concentrating on building a sleep routine after far too many years of terrible habits that have led to where I am now with sleep. Have been in a better place with it for short periods of time but it's getting consistent. Likewise improving my mental health, that's a marathon rather than a sprint but it's worth investing my time into getting better for me, family and business. I cannot express how grateful I am both to the professionals who are helping me to start to live life again and to my little family for staying with me. 

@Humdinger1 thank you.

@lucielle 100%, thanks. I believe you have a reason to celebrate too with a new job - not read much of your diary just the last few pages. Congratulations!

@RelievedSheff Good to see you back! Surprised you got banned though lol.

The more I get worked up the worse it is tbh so your advice 100% right thank you.

lucielle

Another good nights sleep, I’m jealous!  Long May it last. 

L

alt80

A not so bad day, did the same as yesterday, picked my boy up from school and got some additional work done this evening. Not doing so well with fitting in the gym time but business should start to free a little time up over the next few months on a day to day basis. Need to think about what I'm eating though before I start putting weight on. I am somewhat restructuring with the aim of greater future stability. Bit like the rest of my life ha. 

We will close another card next month. First time in my adult life I don't really care about a temporary reduction in utilisation due to closing accounts rather than additional spending. We have cemented further personal plans beyond paying off the card debt. An ambitious target is to deal with card debt is by the end of the year. Next year we want to start work on building an emergency fund, the accepted is 3 to 6 months income so between £24k and £48k. Anyhow, we have never had any savings / fall back or emergency fund, just significant access to credit. From working with my accountant we have a plan for my portfolio as well as my main business going forward.

@lucielle thank you! Struggled last night tbh but on the right track generally which is what matters

SusieT

That all sounds great, now you are hitting the targets you are sounding so much more positive, and are being a really good dad as well, one who you would be happy for your son to be like when he grows up and has a family. So good to see the transformation is bringing the rewards now, and before you say it, yes you have more to do, but you really have done well. 

enthusiasticsaver

You sound so much on top of things now.  You have come a long way in the few years you have been on here.  Hark you talking about emergency savings.   . Hope you sleep ok tonight. 

Iamouttheotherside

@alt80
Congratulations on getting to close a credit card, for the future you need to look what cards you will keep. So look what card offers the best benefits suitable for you, your business and family.  We have a charge card which you have to pay off monthly we have to pay a considerable annual fee for it, but the amount we spend on it and the points reward system easily covers the cost, along with the cash back at certain outlets, plus the added bonus of the concierge service where you can get reservations organised, tickets for events, amazing insurance, special shopping invites is a good little perk too.  We then have a basic run of the mill credit card, which is fee free offers cash back mainly on high street outlets is a good second card when the Amex isn't accepted.   Once you have paid off your debt and your savings build up the money skills you learnt whilst paying off debt never leave you!

Also with regards to you working towards savings, remember as higher rate taxpayer any interest you earn on savings, the HMRC Pacman likes his majority share too!  So remember to utilise an Isa, you and your wife can have 20k each per tax year, also your son can have 9k per tax year too.  It maybe worth considering utilising (if financially feesable), some of your ISA allowance for this tax year, which obviously finishes in April.  Another thing to consider as the earnings are also tax free is premium bonds, you can have 50k each for you and your wife and also 50k for your son, which remains "yours" until he is 16, then obviously you can cash it in back to you or give it your son.  It may seem a long way off, but when you start having savings you will be surprised how quick it builds up.  Also good to put some in separate names then if anything does happen to you or indeed your wife, if the monies are separated they avoid being added to inheritance tax for the HMRC Pacman again!  Keep your wife fully in the loop where the monies are etc.

Well done for making the progress you are, I for one thought you wouldn't do it, but you are all making progress as a family and that is important.  I suspect you and your wife have suddenly realised how close you both were to losing everything, I think they call that on here.. rock bottom or light bulb moment, so congratulations.

katsu

I'm delighted to hear that you've got into lend with care, I think it's a great way to help people we well never meet and I think still about some of my loans from some years back and hope the recipients are doing well.