Learning to walk before I run

edited 12 September at 3:17PM in Mortgage-Free Wannabe
114 replies 11.5K views
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  • edinburgheredinburgher Forumite
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    @kaycastle - that's pretty typical in our area, I think builders price to postcode. Our house might "only" be worth £250k, but we live in the cheapest part of a lovely area. For example, a nice 4 bed elsewhere in our town would be £400-500k.
  • FrithFrith Forumite
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    £800 for presents and food a month? 

    Thats....... high! 
  • FrithFrith Forumite
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    Also I don’t spend £300 on myself (pocket money) in a year. I’m not sure I’ll be able to suggest much! 
  • VintageHistorianVintageHistorian Forumite
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    You don't mention how much you currently budget per child in DD's class, just that they're included in the gift budget, presumably due to the endless round of birthday parties that DD gets invited to?

    In which case I would sit down and make yourself a list of names and the month their birthday falls in, so you have a schedule of when these presents will be due. Then try to get the next batch of gifts bought during sales periods (i.e. after Christmas). Going to places like The Works should get you some good quality books or craft bits for relatively cheaply, especially when they're having sales. Challenge yourself to spend no more than £5 per child and see what you can get for that. You could also cut back on costs by buying a pack of plain card, and a week before the birthday get your daughter to "make" the card (even if you just draw a big "6" or whatever the age is on the front that she can colour in).

    I think it's easy to carried away with these things and want to be the parents that give out computer games etc, but really it's just a kid that your daughter knows, you don't need to spend a huge amount on them. I'm not saying be a total skinflint and show up with a bar of chocolate that cost a quid, but planning ahead might help bring the cost down without sacrificing quality. Then all you need to do is keep it in a box labelled "School birthdays" then when the next party rolls around just grab something from it.
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Always try to be nice, but never fail to be kind - Doctor Who

    Overpayments in 2020 - £697.60
  • edinburgheredinburgher Forumite
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    @VintageHistorian - bulk buying on offer is a good idea - I've done a bit of that in the past. I think gifts is definitely going to take a little while to normalise, but I'm optimistic. 

    I've been able to identify c. £500 of savings for October without tackling groceries, holidays or pocket money. I think it will be November before I can get an idea of the new budget
  • edited 12 September at 9:00PM
    kaycastlekaycastle Forumite
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    edited 12 September at 9:00PM
    @kaycastle - that's pretty typical in our area, I think builders price to postcode. Our house might "only" be worth £250k, but we live in the cheapest part of a lovely area. For example, a nice 4 bed elsewhere in our town would be £400-500k.
    Didn't mean any offense or anything :) I think if you can get some quotes just to check, you might get lucky and find you need less. Worth a go!

    Well done on the newly identified savings!
    Mortgage: Oct'17:£228k Current: £182k.
    Short-term: Loft conversion target: £26k/£45k. Emergency fund: £1439/£2500
    Long-term Goal: Mortgage neutral by 2031 (age 40)
    Pension: £22k
    My mortgage neutral and maternity prep diary
  • edited 12 September at 9:13PM
    edinburgheredinburgher Forumite
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    edited 12 September at 9:13PM
    None taken kaycastle - unfortunately we know of a couple of families who live within a few blocks of ourselves who have been quoted £80-90k for two storey extensions. We'd like two storeys at the side and a kitchen/diner at the back. Allowing for the work + a new kitchen etc. it doesn't seem too crazy compared to the other quotes of which we're aware. But yes, will need to get our own.
  • kaycastlekaycastle Forumite
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    None taken kaycastle - unfortunately we know of a couple of families who live within a few blocks of ourselves who have been quoted £80-90k for two storey extensions. We'd like two storeys at the side and a kitchen/diner at the back. Allowing for the work + a new kitchen etc. it doesn't seem too crazy compared to the other quotes of which we're aware. But yes, will need to get our own.
    Ahh that explains it, I just assumed you meant a bedroom extension, that's why I thought it was steep :) I have to do the same sort of thing but I have a bit more time and I'm going to try to get away with just needing a loft extension.

    Cornish mums advice is excellent. Can't wait to see the budget adjustments you make! 
    Mortgage: Oct'17:£228k Current: £182k.
    Short-term: Loft conversion target: £26k/£45k. Emergency fund: £1439/£2500
    Long-term Goal: Mortgage neutral by 2031 (age 40)
    Pension: £22k
    My mortgage neutral and maternity prep diary
  • BookWormBookWorm Forumite
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    Hi Ed. I just wanted to stop by to say congrats on your baby news - that's lovely.   I don't have any advice to offer but I'm sure lots of these lovely wise people will be be able to help.  Best wishes BW x
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