Road To Financial Recovery

FootyFanDan

I do already have an open help to buy account that we opened but not really funded it much. So I think we are going to start funding this appropriately. Also do have a stocks and share ISA that I need to explore a bit more on the best way to utilise this, I do think the feeling that it is complex has certainly influenced me.

FootyFanDan

Today's spends are travel insurance and airport parking. I have filled the pots for both the food budget and the petrol budget (allowing for the week at end of month that we will be away).

Rest of night will be spent preparing stuff for the return back to the office tomorrow..yay 🤣. I have really enjoyed the extended break with having both the Friday and today off it has felt extra long. I am really not looking forward to been back in office.

Dakota_Rose

Just think that this time tomorrow, you will be heading into humpday!

Your confusion with pension contributions, stocks and shares and savings matches my own. The other problem of course is that we still have so many things we need to be saving for and spending on in the short term!

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81986893#Comment_81986893

Your positivity is just fab! 😊

I have decided that I will leave pension contributions for now, I am going to focus on that emergency fund getting increased and putting some effort into getting the house a bit better for us. The garden is a sun trap but also not a nice place to sit at the minute, The fence has been broken, there is a daft tree overgrown which all needs attention. We still need the dining table too. There is just so many things, and then added to this all the general increase for price of things. I know it sounds crazy but my long term goal is to try set our little family up for a decent future that maybe eventually allows me a less stressful job.

EDIT: I figure the positive right now is we have more incoming than outgoing, I just need to figure out what I do with the extra, which is a nice problem to have which I feel very fortunate for.

Dakota_Rose

It’s a lovely problem to have! The EF as first priority sounds like a good plan.

Now let’s get this Tuesday done so that it’s hump day already!

ArtyJ931

in terms of buying your own or staying there the only aspect of it to consider is when you retire. Rent is still due. Any pension you have accrued will impact on any kind of benefit you may get to support the rent. My mum retired last year and has lived in our council house for over 40 years. She is still having to work 3 days a week because her state pension and employer pension doesn’t cover rent and outgoings but she isn’t entitled to help yet either.

she has never been in a position to buy her house or any other as in the very early 80s she moved to be a housekeeper and then settled down in an area that happened to turn into London commuter belt 15 years later. House values have always been far higher than she has earned so she has never bought her council house or been able to buy another.

it is something to bear in mind.

liselle

Yes, good point.Very daunting to be retired and still paying rent.

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81987048#Comment_81987048

Tuesday is done 😊

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81987079#Comment_81987079

That is something to take into consideration, I think sometimes we make choices without thinking of how we fund that further down the line. I have always wanted to own our own place, but for some reason (maybe the current financial climate) I am comfortable with our low outgoings. I think it is possibly the thought of the high outgoings, but actually we could if we got our head down fund our own place (which was the goal at the start of my journey).

I never even considered the costs during retirement and funding that.

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81988072#Comment_81988072

maybe higher outgoings now to not have those worries in the later years is something to consider. I know it sounds very naive but I was never really a saver or thinking of future. I have always (up until a few years ago) thought why save for a future I might not get, live in the moment and all that. I have changed my mindset around that completely now. If I could my goal would be to get to a point where I don't have to work a stressful job to survive.