10 years later yikes

enthusiasticsaver

Well done on saving that amount and sorting out a new car without debt. 

I could not get on with YNAB so would say don't bother.

If the debt is going to be on your credit file for the next 3 years how much would you have to pay monthly to clear it by the end of that period? If the balances in your signature are correct presumably just under £400 a month? 

1stTimer

enthusiasticsaver said:

Well done on saving that amount and sorting out a new car without debt. 

I could not get on with YNAB so would say don't bother.

If the debt is going to be on your credit file for the next 3 years how much would you have to pay monthly to clear it by the end of that period? If the balances in your signature are correct presumably just under £400 a month? 

Hi enthusiasticsaver and thanks for reading! 

I haven’t worked out how much a month it would take to clear it, not because I don’t care but because I have been saving £752 a month since I went self managed. This was for hopefully F&F settlements towards the end of the 3 years. I know the car has set me back a bit for that but I still feel confident if I keep at it I’ll have enough even if I don’t get big discounts with them and have to pay full amounts. A lot can happen in 3 years so will just let them coast for now on minimum payments.

Sumof999

wow well done with your saving and paying outright for your car that's amazing!  I'm interested in how you get on with Moneyhub... I've just downloaded it and plan on running it alongside the YNAB free 34 day trial.  I was using Moneydashboard successfully but they've just announced it will be closing at the end of this month.  So far I'm missing some functionality within Moneyhub especially the part that tells you if you are likely to overspend (it takes your scheduled upcoming payments into account with your budgets and gives you the balance on Moneydashboard) I loved YNAB a few years ago but couldn't justify the cost but I think I might go back to it - there's nothing that compares to it that I've seen so far.

1stTimer

Thanks Mickeymacca will keep you updated, haven’t had a chance to play with it tonight but maybe the weekend will be a good opportunity to really delve into it.
I’ve just spent the last 10 minutes reading my diary from 10 years back…I will not do that again lol I was doing so well and it just brings back the memories of my injury. I’m a lefty and severed the nerve in my left hand….never did get the feeling back in it so it’s been a weird transition switching hands for daily life. I still can’t button up shirts or wear earrings with butterfly clips unless I’m having a very patient day 🤣 still I have learnt to enjoy taking the jacket potatoes out of the oven without screaming ouchy lol 

Sumof999

sorry to hear about your injury that sounds horrible!  So I've already deleted Moneyhub it just isn't up to scratch for me.  I'm absolutely loving using YNAB again forgotten how much I liked it before.. It does take some getting used to but once you've wrapped your head round it it's amazing.  Last time I used it I did manual input of transactions but this time I'm linking bank accounts - it makes budgeting a lot of fun!

1stTimer

I am so angry with myself! I went on Swagbucks to get some extra cash and the deal of the day was a casino type app. I’ve just blown £60 trying to increase my levels and win fake money☹️

Sarahwithlove

Harsh lesson but learn from it and move on. I'm a big ynab fan but struggle to justify it. Instead I've created a spreadsheet for myself that works for the most part. 

1stTimer

I’m back…

Still chugging along, and surprise surprise not much has changed really since I last posted. I guess the positive of that is that I have remained out of debt and only have the one credit card I use for petrol and pay off each month (this is an attempt at trying to work towards repairing my credit file)

I think what has me posting again is I’m left in a what now stage? I’ve spent the last year or so just trying to mentally change my thinking around money and although I now seem to have come to the realisation that debt is bad, I still think I should be miles ahead by now.

I’m now in my 40’s and I have started saving everything little bit I can. I do surveys, bank switches etc am constantly looking at my bank accounts to make sure all bills are paid and this is a complete 360 to my previous self. BUT I still have absolutely nothing to show for any of it☹️

I still rent and it kept me awake last night the realisation that I am too late to probably ever be a home owner, what with house prices the way they are and my rent taking a chunk of my wages every month I feel I’m just aiming towards something that’s impossible.

i want to try and work towards something because without a goal I feel there is no purpose. So here I am trying to work it all out again!

I'm going to start by checking my savings as they are scattered around in different accounts and maybe if I do that then it will give me a little boost. As I said before I know it’s no where near what I probably should have, but it’s a start. I think if I can also try and maintain a spending diary then that will help as I still think I’m spending way more than I should each month on rubbish.

So the goal now is to find a goal or a purpose. Maybe if I can’t own my own home I can start preparing for future me after retirement without that financial stability?

Now I’m off to try and see what I do have rather than dwelling on what I don’t have

1stTimer

Savings as of April 2025

MoneyBox ISA £7,348.89

Nationwide RS £1,600.00

Principality RS 6mth issue 2 £1,000.00

Principality RS 6mth issue 3 £400.00

Principality xmas RS £875.00

Santander Edge Saver £4,000.00

NS&I PB £800.00

 Totalling - £16,023.89

Not sure what I’m now aiming for but it helps to have this written down in one place for when I do decide on what next.

Cara_

Hello 1stTimer

I have just read through your diary. You have achieved a lot; repaid your debt and now you have savings which is a good position to be in.

I don't think it is too late for you to buy a house as you are in your 40s and have 20+ years until you retire, so I wouldn't give up on your goal of owning a property until you have explored all options - are you able to save a deposit in 10 years and then get a mortgage? Is there an area near where you live that is cheaper / where do you plan to live when you retire? 

There will be more to think about and you might have already considered these options so I'm sorry if I am making suggestions that you have discounted. I am sure someone will have more ideas that will help.

Good luck.

Cara