Future net worth millionnaire

Hi,

As the title say, I want to be a net worth millionnaire.

I'm french and leave in France. I have a dh, 4dds, 3bfs and 3 dgcs.
Obviously, I won't put up a SOA as things are so different here. Every amount will be in euro.

I'm not in debt at the moment, but would be soon if i'm not really careful.

A little background

I always lived 20km from Paris. Dh had a well paid job (4100 euros). We own a house there and we are naow mortage fre on it.
In 2019, we bougt a BTL apartment. We sold it last november, but we still have a mortgage on it.

In 2020, we fell in love with a house in the centre of France, so we bought it, and here is another mortgage

In april 2022, Dh resigned from his job. He is since on JSA at 2600 euros : big fall!

We live in our dream house for one year now. DD1 still live with us, and dd3 too as she is disabled.

I had an EF, to cover the fall between salary and JSA, but I thought the house in Paris would sold. Unfortunatly, rates hove gone up a lot, and the house still on the market. So I kept the money from the sale of the apartment to fund the fall and works on the new house.

So today I have ( I tend to say I because i'm in charge of finances)

House (Paris): 420.000 euros
our house: 300.000 euros
motorhome: 20.000 euros
cars: 10.000 euros ( I know cars are not assets but these ones are collection)
savings: circa 80.000 euros
cash in account: circa 42.000 euros

= 872.000 euros

mortgages:

M1: 137.885 euros
M2: 81.978 euros

= 219.863 euros

net worth: 872.000-219.863= 652.157 euros
«1

Comments

  • mumtoomany
    mumtoomany Posts: 1,379
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    Hello, or should that be bonjour? A great ambition to have. Will DH be able to find another job? Are you also working? How will you manage it the Paris house does not sell? Watching along with interest, hugs, mumtoomany.xx
    Frugal Living Challenge 2023.
    Trying to live on only £2640 for the year for most meals for seven people. Now only feeding, mostly, two. New total £1860.
    https://forums.moneysavingexpert.com/discussion/6414174/im-back-trying-to-spend-less-on-food#latest
    Spent in 2023: £1846.53/£1860. Now on £96.08 for 2024
  • busybus
    busybus Posts: 11
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    Bonjour mumtoomany.

    If need be, DH will be able to find a job, but it would be less money than JSA. And he does work on the house at the moment.
    I don't work as DD3 is disabled and need someone with her all day long. She don't go to day care center here as we are waiting for a place.

    We need the Paris house to sell in the next 18 months.  If not....well, I need to plan something
  • busybus
    busybus Posts: 11
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    What a beautiful day!! The sun is shining, 14°C. This morning, when I was coming back from th bakery, I saw a little girl of about 2 years old. She was walking just behind her mother. I said hello and she immediatly took my hand. She was so cute. We walked like that all the way to the end of the street. She really made my day.

    So, why am I writting on here while it is difficult for me to wrtite in (poor) english? Well, I've been reading these forums since 2005, and I love it. I learnt so much on here and you are so supportive to each others, it is a real pleasure for me.
    I love diaries, and the decluttering thread.
    We don't have anything similar in France. We have fb groups but it is all about budgeting and nothing else, and it is not possible to write a diary. In addition, we talk to french people, and they are too.......french. 

  • kiss_me_now9
    kiss_me_now9 Posts: 1,328
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    Bonjour! Your English is a hell of a lot better than my French... I thought about trying to form that en Francais but it would probably cause offence  :D How does it work with the mortgage on the house you've sold already? 
    £2023 in 2023 challenge - £17.79 January

  • busybus
    busybus Posts: 11
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    Bonjour KMN9

    It would be ton anglais est sacrément meilleur que mon français.

    I kept the money from the sale to fund works on the new house because the mortgage is on 1.2% and I can have 80000 euros in savings account, 70000 at 3%, 10000 at 5%. So I though it was better. Anyway I couldn't pay the mortgage in full as the housing prices dropped a lot.
  • busybus
    busybus Posts: 11
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    Yesterday was JSA day. I transferred some money in the account for the house works . The second bedroom is nearly finish. The vinyl floor has arrived in shop for bedrooms 1 and 2. Just nedd to get it...
    Dh need to go to the doctor. We don't have one here. So I made an appointment 45 km from here, he's the only one I found that accepts new patients....
    Yesterday I applied to CSS, it is a health insurance scheme where the state help you with the payements. It would cost 24 euros a month for 3 of us whereas I now pay 125 euros in a private insurance. I hope we qualify.

    I need to search for informations on retirement as the governement keeps changing the rules: first the age and now the conditions....
  • mumtoomany
    mumtoomany Posts: 1,379
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    Morning. It's interesting to read posts from people not in the uk. Makes me so grateful for things like free health care here. Hugs, mumtoomany.xx
    Frugal Living Challenge 2023.
    Trying to live on only £2640 for the year for most meals for seven people. Now only feeding, mostly, two. New total £1860.
    https://forums.moneysavingexpert.com/discussion/6414174/im-back-trying-to-spend-less-on-food#latest
    Spent in 2023: £1846.53/£1860. Now on £96.08 for 2024
  • busybus
    busybus Posts: 11
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    Hi mumtoomany, we have something called"la sécurité sociale" wich pays back 60-70% of health costs, but if you want more you need to have a private insurance called "complémentaire santé or mutuelle santé", and you really need one in case of serious injury or hospital stay
  • busybus
    busybus Posts: 11
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    Hi,

    I am reading Saving Holmes's diary (from the start), I'm on july 2022. I think I am now well informed about English pensions while I have shortcomings on french ones..... At least I learn some things wich is great.
    I found out yesterday DH could get benefits during 66 days to take care of DD3 (who is disabled): 64, 54€ a day
    His JSA would then be extended by 66 days. I need to have 1650€ in savings to do that as JSA is 89,84€ a day, and we are already short. still be good news
  • busybus
    busybus Posts: 11
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    I sold 2 items earlier in the week: 25€ are coming my way. I will let them in the main bank account.
    I sent all the paperworks for DH allowance application (a 66 days allowance to take care of DD3). I Hope he will qualify.
    I need to book an accomodation for the end of march, we'll go to see a volcano and an cave. Only 1,5 h away but it will be a nice break after all work done in the house.
    this morning, we insulated the floor in bedroom 2. Only the vinyl floor left to lay now and DD3 wil have a brand new bedroom. 
    Then we'll lay the vinyl floor in bedroom 1.  we ordered it before christmas but it only arrived last friday.

    On another topic, we love to travel. We went in Thailand for 4 weeks in decembre 2019, and 5 weeks in Spain last september.

    I'd like to go to London for few days and visit HP studios as well with the whole family. We would be 10, may be 12 if 2 BFs want to come with us. It'sa lot of money to save : 450€ /p at minimum for 3 days / 2 nights, but I'd like to stay 4 or 5 nights to visit London depending on how much I can save.
    Then I'd like to go to Panama to see how the life is there. at least 4 weeks, it wouold be around 5000€ for flights and accomodation.....

    Well I can dream and make plans.
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