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  • FIRST POST
    • tori.k
    • By tori.k 30th Dec 18, 11:41 PM
    • 3,491Posts
    • 9,334Thanks
    tori.k
    10 year stretch
    • #1
    • 30th Dec 18, 11:41 PM
    10 year stretch 30th Dec 18 at 11:41 PM
    [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 4
    Number of children in household.........
    Number of cars owned....................

    Monthly Income Details

    Monthly income after tax................ 1475
    Partners monthly income after tax....... 1190
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 2665


    Monthly Expense Details

    Mortgage................................ 628
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 133
    Electricity............................. 42.75 ( This should go down once we had some
    Gas..................................... 42.75 regular meter readings)
    Oil..................................... 0
    Water rates............................. 68 ( A little high but work done to the house and garden)
    Telephone (land line)................... 24.49 ( includes B/Band)
    Mobile phone............................ 10
    TV Licence.............................. 0
    Satellite/Cable TV...................... 7.99 ( netflix only cheaper than TV Licence)
    Internet Services....................... 0
    Groceries etc. ......................... 291.66
    Clothing................................ 20
    Petrol/diesel........................... 156
    Road tax................................ 2.5
    Car Insurance........................... 10.25
    Car maintenance (including MOT)......... 54
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 8
    Contents insurance...................... 8
    Life assurance ......................... 56.72 ( massive because if we were cars we would have been scrapped years ago)
    Other insurance......................... 8.66 ( this should be NHS prepayment wrong box)
    Presents (birthday, christmas etc)...... 58 ( gave the nieces and nephews a payrise this Christmas so im now the favourite aunt)
    Haircuts................................ 15
    Entertainment........................... 125 ( I budget 1500 a year for entertainment and holidays when its gone its gone)
    Holiday................................. 0
    Emergency fund.......................... 50
    Total monthly expenses.................. 1820.77



    Assets

    Cash.................................... 1500
    House value (Gross)..................... 170000
    Shares and bonds........................ 0
    Car(s).................................. 2500
    Other assets............................ 0
    Total Assets............................ 174000



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 137000...(628)......2.51
    Total secured & HP debts...... 137000....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Total unsecured debts..........0.........0.........-



    Monthly Budget Summary

    Total monthly income.................... 2,665
    Expenses (including HP & secured debts). 1,820.77
    Available for debt repayments........... 844.23
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 844.23


    Few reminders on the SOA set up, will have extra expense this year DH get a new car so an extra 212ish a month coming out of the budget but most of this will be covered in his monthly work bonus that I dont include in my SOA as its treated like it is a bonus, The lads at home also contribute 346 between them a month in keep but often end up borrowing it back so I also treat this as a bonus
    Last edited by tori.k; 31-12-2018 at 12:31 AM.
Page 2
    • savingwannabe
    • By savingwannabe 3rd Jan 19, 7:56 AM
    • 13,974 Posts
    • 47,480 Thanks
    savingwannabe
    What a wonderful job. You will have so many ideas for your garden and can buy everything on discount!

    The seagulls are going mad in the garden next door.

    It is v cold today here how is it by you?
    Christmas Fund 148
    Reminder: June Spending on fleabay 6.99
    • pinknsparkly
    • By pinknsparkly 3rd Jan 19, 11:36 AM
    • 350 Posts
    • 824 Thanks
    pinknsparkly
    Hi Tori and welcome on board!!

    I also have a diary on this forum - it started out as a mortgage wannabe (saving for a house deposit), but we bought our house in mid Dec so perhaps I need to change the title... We're now trying to save to pay off our mortgage - we're aiming for mortgage neutrality rather than mortgage free by saving the mortgage "OPs" into stocks and shares. Actually, that's a complete and utter lie as I've not actually got round to setting up S&S ISAs and LISAs yet - but it is on my To Do list for January My ultimate aim is to build up money in S&S that will allow us financial freedom. Quite what that financial freedom will be remains to be seen, but it may be early retirement, reducing working hours, taking a year off work to go travelling. We also hope to have children in the not-to-distant future so want to make the most of having two incomes and no expensive children in the meantime!!

    As some other people have already mentioned, this is quite a quiet forum board so if you have any specific questions that you want a large number of views on then it is worth posting on the appropriate board (probably mortgage free wannabe for you).
    MFW 2019 challenge #99: 6,325.45 / 6,000
    MFiT-T5 (Jan 2019 - Jan 2022) challenge #99: 6,325.45 / 30,000
    Save 12k in 2019 challenge #99: 10,325.45 / 30,000
    2019 keep moving challenge: 232 / 1000 miles
    Last updated: 06/06/2019
    Initial MF date (18th Dec 2018): Jan 2054 Current MF date: Oct 2052
    • pinknsparkly
    • By pinknsparkly 3rd Jan 19, 11:39 AM
    • 350 Posts
    • 824 Thanks
    pinknsparkly
    I'm another one that thinks your job sounds wonderful btw!! I LOVE plants and gardens etc and dream of growing a reasonable amount of my own food. Sadly, plants don't seem to love me and they always seem to die on me, or last for ages but always look really sad and unhappy no matter what I try!
    MFW 2019 challenge #99: 6,325.45 / 6,000
    MFiT-T5 (Jan 2019 - Jan 2022) challenge #99: 6,325.45 / 30,000
    Save 12k in 2019 challenge #99: 10,325.45 / 30,000
    2019 keep moving challenge: 232 / 1000 miles
    Last updated: 06/06/2019
    Initial MF date (18th Dec 2018): Jan 2054 Current MF date: Oct 2052
    • tori.k
    • By tori.k 7th Jan 19, 9:32 PM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    It will come Pinknsparkly, just takes time to build up the soil you looking a 30/40% organic matter per SQM for good soil, get the soil right and the rest will just happen.

    A spendy week with another 50 gone on shopping but pretty much done for the year on the non-perishables.
    DH car insurance came to 250 for the year with 35 cashback, which seems high as its only a 1.6 Vitara but the cheapest we could find, least they don't charge for changing vehicles as he gets a new car every 6 months ( he sees it as a perk of the job I see it as a hassle)

    Moved 300 into the emergency fund (Feb/March council tax payment) moved it now just so it feels like ive actually started this year, so far money only flowed out not in, Its just such a drag between paydays.
    • pinknsparkly
    • By pinknsparkly 8th Jan 19, 2:21 PM
    • 350 Posts
    • 824 Thanks
    pinknsparkly
    Yeay on moving council tax payments into savings. I've actually got ours set up to be paid every month, on the basis that paying ten months and then getting two months "free" means I'm giving them money that I could be earning interest on in the meantime

    Being stocked up on non-perishables for the year is very impressive, I'm definitely not organised enough for that (plus, between a clumsy me, a destructive cat and a husband who hates "mess" I'm fairly sure at least some of it would be damaged!)
    MFW 2019 challenge #99: 6,325.45 / 6,000
    MFiT-T5 (Jan 2019 - Jan 2022) challenge #99: 6,325.45 / 30,000
    Save 12k in 2019 challenge #99: 10,325.45 / 30,000
    2019 keep moving challenge: 232 / 1000 miles
    Last updated: 06/06/2019
    Initial MF date (18th Dec 2018): Jan 2054 Current MF date: Oct 2052
    • tori.k
    • By tori.k 9th Jan 19, 7:36 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Normally its just paid up for the year, but last year opted for 10months as it freed up the income when we moved house. Normally our household expenditure is drip fed across four regular savers that mature every 3 months which covers the annual cost, just a way of making pitiful interest on money we have to pay out anyway. Normal services will resume this year.
    • mark88man
    • By mark88man 9th Jan 19, 8:20 AM
    • 3,896 Posts
    • 9,222 Thanks
    mark88man
    I like that "ladder" idea of having money maturing every quarter - plus in a YNAB like way (not that I use it) its using last months money to pay ahead. so I will investigate - although at the moment my regular savings are resting before being used to pay off (hopefully) all of a 0% debt
    Things happen for a reason. Often the reason is we are stupid & make bad decisions.
    Weight/Health - Fluctuating - better than I was worse than I should be
    End 18: CC:8K@0% - Car Loan:11K@2.8% - Mort:133K@2.1% = 152K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K

    • tori.k
    • By tori.k 11th Jan 19, 7:12 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Its probably a convoluted way of doing things, basically I worked out roughly how much our annual bills were and over the years set up regular savers that dump into one DD account, each year The money I have to put in is very slightly reduce as the interest earned starts to cover the bills and is cycled back across the regular savers.
    I wasn't very smart with our money in our younger years or i'd basically be living for free by now but this way should make our eventual retirement a little easier.
    • savingwannabe
    • By savingwannabe 12th Jan 19, 1:11 PM
    • 13,974 Posts
    • 47,480 Thanks
    savingwannabe
    Hello what an intelligent idea to keep bills for year in one savings account. That is really thinking in a MSE way - I would never ever have thought of this! I just pay by dd from my wages.


    You are vvv smart.
    Christmas Fund 148
    Reminder: June Spending on fleabay 6.99
    • tori.k
    • By tori.k 25th Jan 19, 7:03 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Well its payday, and I managed to put a whole 100 across to the savings well 140 if im being pedantic the other 500 I had has gone as a loan to the youngest towards a new car as his would need to much work to get through a MOT.
    Out of my Children he's the one that doesn't like to borrow and is the stickler for paying money back so I will get 100 a week without issue, annoying thing is he already has another insured car that is currently sat in bits as it is/was a rolling restoration project. when I say sat in bits I really mean it the body is tarped up on my mothers driveway and the chassis is in the garage having just been welded and painted I think the referbed wheels are currently in his bedroom the lads a packrat

    The other couple of hundred has been earmarked for some jobs in the front garden as DH and I have next week off work if the weather plays ball we can make some good strides in the garden as we have already started the next project on the side return.
    • savingwannabe
    • By savingwannabe 26th Jan 19, 8:23 AM
    • 13,974 Posts
    • 47,480 Thanks
    savingwannabe
    Well done on saving at all when you are having the gardening project done. Its great that you have been able to help your son and he is able to pay you back. Happy gardening!
    Christmas Fund 148
    Reminder: June Spending on fleabay 6.99
    • tori.k
    • By tori.k 26th Jan 19, 11:13 PM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Its most likely going to take about 18 months/2 years to finish the outside work its been neglected for quite a while when the former owners health deteriorated. And we have quite a bit of heavy landscaping to do, we can do most of the work ourselves to keep the cost down but like most we are time poor.
    I just hate moving onto the next project when the first one isn't yet complete but it will be Easter before I can start the bulk of the planting at the front.
    Plant collection is getting a bit out of hand mostly I bring the sad and unwanted plants home from work for free but am also buying way more then I should. There is worse vices to have
    • tori.k
    • By tori.k 2nd Mar 19, 5:58 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    well paydays been and gone managed to move 500 to savings with the lad returning 100 a week for the next three weeks to join it.
    Got a chap coming over to look at the bathroom next week we are removing the bath and fitting a large shower and replacing the tiles with shower board ( I hate grout). he's booked solid until September so have a little while to save for the work. I shall keep the taps and we can replace the bath cheaply if we ever decided to sell.
    Everything is slowly coming together.
    • pinknsparkly
    • By pinknsparkly 8th Mar 19, 7:12 PM
    • 350 Posts
    • 824 Thanks
    pinknsparkly
    Sounds like some lovely bathroom plans. We're intending to do ours up at some point in the future (the entire house needs doing up, it's going to take a while!!) and I've been flipping and flopping between a walk in shower or retaining the bath. I do like having the option to have a bath but probably only have about one a year. In theory, I think we might have space for a walk in shower AND a bath, but that seems rather greedy

    Congrats on the 800 into savings!!
    MFW 2019 challenge #99: 6,325.45 / 6,000
    MFiT-T5 (Jan 2019 - Jan 2022) challenge #99: 6,325.45 / 30,000
    Save 12k in 2019 challenge #99: 10,325.45 / 30,000
    2019 keep moving challenge: 232 / 1000 miles
    Last updated: 06/06/2019
    Initial MF date (18th Dec 2018): Jan 2054 Current MF date: Oct 2052
    • savingwannabe
    • By savingwannabe 10th Mar 19, 9:02 AM
    • 13,974 Posts
    • 47,480 Thanks
    savingwannabe
    I do envy you. It's so exciting making plans. My dream is to have a huge gorgeous bathroom but savings and mortgage OPs are more of a priority at the moment.

    I am so happy you are plant buying and collecting it will be something great to look forward to. Roll on summer.
    Christmas Fund 148
    Reminder: June Spending on fleabay 6.99
    • tori.k
    • By tori.k 8th May 19, 7:22 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Been a while since i've updated we've been busy in the garden
    Front is finally finished to the neighbours relief, has ended up costing more than anticipated as these things do due to some fencing that needed to be replaced, I have to learn to stop poking about as little jobs are turning into expensive ones, ignorance is bliss at times but its finally done.
    Both our finances and us need a break so we've put a hold on any new jobs until next year.
    im about to get stricter with myself, my yearly round up showed I put 2.5K more on the credit card than I planned as much as this was paid off its still a third of my yearly mortgage payments so would have been better as an over payment.
    so need to get serious with the savings starting this month.
    • tori.k
    • By tori.k 10th May 19, 4:19 PM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    600 across to DH savers and a 3% regular saver set up for 50 a month. this will slowly topped up and increased to the 3k and basically be forgotten about and just left to continuously drip feed into yearly savers this is DH funeral money mine already done, seemed daft paying for a pre paid funeral when we may as well just insure ourselves and have the yearly interest dumped back into the bills account.
    • savingwannabe
    • By savingwannabe 11th May 19, 8:07 AM
    • 13,974 Posts
    • 47,480 Thanks
    savingwannabe
    Clever thinking with the funeral planning but flippin heck it is quite weird to hear about funeral planning as to me all the friends on here are so vibrant.

    I have a will but always think of a funeral plan and then don't trust any of the companies so I just bumble along hoping my relatives will take the funeral costs out of savings. Yikes.

    Well done on the savings 650 is great. It will soon add up.
    Christmas Fund 148
    Reminder: June Spending on fleabay 6.99
    • tori.k
    • By tori.k 11th May 19, 8:31 PM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Im quite pragmatic about things like that, its sorted and given no more mind space.
    DH has also discovered the humor that is Dave Ramsey on you tube, so I expect to be upping the savings a fair bit over the next month or so until the novelty has worn off, then it should settle back down.
    I think he's actually started enjoying some of the garden DIY projects and would like more free time available, he's actually discussed the possibilities of part time roles available at his company if he reduced his working hours once the mortgage is paid up, I know its just good weather fever from being stuck in a office all day, but its the first time he's openly discussed part retirement, when its all I talk about
    • tori.k
    • By tori.k 14th May 19, 6:51 AM
    • 3,491 Posts
    • 9,334 Thanks
    tori.k
    Cleared the credit card the planting at the front finished up at 860, 600 of that being the pearlwort lawn so content enough with that in a season it will all grow in to look like its been there for years.
    10 days to payday with 377 left in the budget if I can keep 300 we can drop 1K of the mortgage this month but aware the water bill is due any minute.
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