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Teetering on the brink
Comments
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Hurray for @EatingBeans! You can start to make some rough plans now, pending confirmation. Onwards and upwards love Humdinger xx
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Hi EB, I know you have been reluctant to start a DMP due to your impending mortgage renewal. Can you check with your lender what options you have as I believe they will put you on a new deal, with no credit checks (staying with same lender). This means that a DMP wouldn't impact your chance to get a better deal. It would also make a big impact to your finances each month. Sorry if you have already checked this out. V x
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PS also ask what the earliest date is that you can make the change, as it is possibly earlier than when your existing deal ends. Worth a call, even if you only end up with confirmation. V x
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well done on getting the right decision for you. it really will expand your options along with your peace of mind
Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 12lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge. I’m not perfect but I’m good enough for now.2 -
Wonderful news EB - well done to you xx
Lancashire
PV 5.04kWp SW facing
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Mortgage freedom January 2024 - paid off 7 years early by making overpayments where we could.2 -
Great to hear you've been given a decision.
Pilon versus working is interesting - my thinking would be pilon is better in your situation as otherwise you will be another 3 months on half pay at normal month end before getting any lump sum amounts? I'm sure you'll be checking the scheme details, your contractual position and web guidance to get the best outcome (if you get to make a choice between them). I found this which was interesting
Plus pilon would be at full pay rather than half pay i think
Dxxx
22: 3🏅 4⭐ 23: 5🏅 6 ⭐ 24 1🏅 2⭐ 25 🏅 🥈2⭐ 26 🥈 Never save something for a special occasion. Every day is a special occasion. The diff between what you were yesterday and what you'll be tomorrow is what you do today Well organised clutter is still clutter - Joshua Becker If youre not already using a thing you won't start using it more by shoving it in a cupboard- AJMoney The barrier standing between you & what youre truly capable of isnt lack of info, ideas or techniques. The secret is 'do it'2 -
That's great news a decision has been made, now you finally know where you stand and can make plans.
I get knocked down but I get up again (Chumbawamba, Tubthumping)1 -
Thanks all! Yes this is indeed fab news! If I can convince them to pay me 3 months full time PILON that would be great, but I’m not convinced they will go for that. Technically is was an option of the scheme but I chose the ‘work the notice’ option when I applied (thinking that I would in fact be working by then). We will see what they say.
Either way, the next hurdle is to find a way to keep paying everything on time until I get the payout. 🤞
End ofSep-25Oct-25Brother 7,800.00 7,650.00 Overdraft owed 0.00 0.00 MBNA CC 11,481.53 11,504.06 Barclaycard CC 9,662.17 9,558.10 Fluid CC 1,046.44 1,036.29 NatWest CC 11,705.36 11,693.03 Aqua 1,127.94 1,107.94
Total debt
42,823.44
42,549.42Paid off in the month 211.33 274.02
Interested in my diary? Check out...
https://forums.moneysavingexpert.com/discussion/6580468/teetering-on-the-brink/p12 -
Very pleased for you!
I think a bit of sunshine is good for frugal living. (Cranky40)
The sun's been out and I think I’m solar powered (Onebrokelady)
Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/221 -
Just a word of warning. PILON in March could incur tax in this tax year which could well be higher than you would pay if it was all in the next tax year. Unless it counts as a redundancy payment in which case tax free. No point in paying more than you need to.
4
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