£67,031.92 is a frightening number indeed....

Courgette · 11 September 2018 at 2:51PM

Sorry to hear about the car TOPM. We're car-free partly for reasons such as these. Just for info, I sold an old banger with a full year's MOT for more than I paid for it a couple of years ago. We're talking about £400 but, as I said, old banger. Gumtree is your friend here rather than places like Awto Trraader. Good luck whatever you decide. How easy car-free will be will depend on public transport in your area (most obvious statement of the century). We manage but I do miss the spontaneity at times plus being able to get off the beaten track. Definitely a big cost saving though

Treadingonplaymobil · 12 September 2018 at 5:34AM

Week 83: Day 3

Caution, epically long update below!

(I even used sub headings)

Car update
Another day, another spend on the car. It turned out to be £178 to fix. I paid it on the basis that we absolutely would have needed to hire a big car this weekend for my work and DC1's birthday camping trip, which would have been over £100. However, I have decided (although not discussed with DH) that we need to set a lowish upper limit for any further spending within the next four months. Including tax and insurance, we've spent £1,870 on it in 2018 (£1,343 just on garage bills), not including diesel. If we'd gone car free in January we'd have been able to replace it with something fractionally newer and better by now. The car pot is now an epic £271 in the red. Oh, and regarding whether it should have been picked up on during the service, I'm reasonably confident it was just an unfortunate coincidence - a pipe burst, which was just one of those sudden catastrophic failures, rather than a gradual wearing away.

Courgette being car free would be a pain for us, but not impossible. It would have to be a temporary solution rather than a long term one I think, as it would make DH's commute such a challenge, as well as the usual weekend outings etc. I think we'd aim for a minimum of six months without a car, maybe up to a year, and use what we'd saved in the monthly car pots to buy the new car.

Mortgage/consolidation
graemec23 Oooh, the dreaded consolidation. We consolidated some of our debt into the mortgage in January this year when our fixed rate deal expired and we remortgaged. I hadn't actually considered it before, but our mortgage broker said it was the best way to get a good deal. What I would say is that although it's been great for reducing our monthly outgoings, it absolutely wouldn't have worked in the early days of this journey - we would have spent the money again within months. It was only after almost a year of budgeting and genuinely reducing our outgoings that I felt confident that we wouldn't run up all debt we had just 'cleared' (because of course it isn't cleared, it's just elsewhere, and will cost us more in the long run if we don't overpay, even at a low mortgage rate). We were totally deluded about our outgoings at the start of the journey and just did not have the skills to be trusted with a sudden availability of £20k of credit! It has also moved our debt free date significantly further away, which is depressing.

How I budget
Moreplease I budget using YNAB (You Need A Budget), so everything is in one account, but split into different pots. YNAB is a real learning curve, but I can honestly say it has revolutionised our finances, and been 95% responsible for our ability to repay our debts. Yes, it has a small cost attached, but I reckon we saved that cost in the first month of using it. Well worth it for us. We have so many budget pots (over 50) that different accounts would be unmanageable.

Stress levels
Still feeling slightly hectic and stressed with DH being away and everything being on my shoulders - I have been speaking to people who can take over from our ex-architect and getting quotes, and chasing builders for quotes as well as managing the usual house-running stuff with three DCs and my own work which is having to be fitted into 2.5 hours a day while DC3 settles into school. Not the most relaxing week/month. Can't see any particular solution though apart from to keep on keeping on. I have said to DH that if the expectation from his work continues to be as high as it currently is then we need to assess my working hours, because I am not going to be able to manage my current frantic paddling to keep all the plates spinning indefinitely. Although he fully appreciates and supports me, DH really doesn't grasp how much physical time it takes to keep everything together, from extension stuff to housework to homemade food to running DCs to clubs and so on and so on.

Financial update
Financial news (which is what we're here for, after all), the big client booking still hasn't paid, and I'm miles short of meeting October's salary, which is annoying and another stress. I have a couple of small bits of work and my contract work to invoice for at the end of the month, but it won't cover what I need. DH will get some overtime income this month, but I have no idea how much.

Looking at it dispassionately I can see that I was mad to think I could manage a normal month's income this month, with DC3 only in school for three hours a day for the first three weeks and DH away so much. I think we'll just have to work with what we've got for next month, and some of the savings pots won't get topped up if we're short. I need to be realistic about what can be achieved in the time available, and I just don't think that another £739 of profit is realistic in the next two weeks.

I am also feeling slightly nervous about DH's work expenses - he has been away all week and has spent an absolute fortune. He got a cash advance from his work for most of it, but I'm so worried there's going to be some issue with clearing it. Not that he's been living the high life (it's mainly on taxis and food, and the nature of what he's going meant endless taxis were inevitable, so his work were expecting it). It's the first time he's had serious work expenses beyond a £100 or so at a time, and it's making me edgy! I think if this is going to become standard I'm going to ask him to discuss a work credit card with them. However I'm sure this will all be fine, I just want it sorted as it's such an enormous sum of money!

I haven't made any additional payments to the Barclaycard or Santander with the minimum payment budget pot, which may or may not be needed this month depending on the statement date of the Santander card. I've decided to leave it there until the end of the month and if it's still not used it can either be used for October's budget or to top up the car pot. So much for date money for DH and I.

To do this week
1. Sort the car!!!
2. Phone the potential extension drawing chap who replied to my enquiry email last week.
3. Find at least one other extension drawing person to get a quote from.
4. Chase first builder for a quote.
5. DH to phone another builder for a quote.
6. Contract work for next week.
7. Contract work for the following week.
8. Make cake etc for DC1 birthday party.
9. Stick to social media schedule for work.
10. Pack orders for smaller business.
11. Make some packed lunch supplies - quiche, savoury muffins etc. Quiche and flapjacks made, will do muffins today.
12. Piece of work for client A.
13. Piece of work for client B.
14. Life coaching check in.
15. Swim club subs.
16. Snack subs for DC3.
17. Clear the ironing mountain.
18. Order trainers and another pair of school trousers for DC2 (why do they keep growing?!). Have found a pair of DC1's old trousers that will do, so just trainers needed.
19. Top up fruit and veg shop.
20. Contemplate the upside of the house/car/work stress, which has meant losing 2lb over the past week. If I can keep the stress levels up my 'how do I lose weight?' crisis may be averted :rotfl: . :rotfl:

September money goals:
- £10.14/30 September rounding down pot.
- £3,766.98/£5,000 2018 debt repayment goal.
- £125/864 income needed for October.

PositiveBalance · 12 September 2018 at 2:45PM

Well done on the epic post, ToPM!

To be honest, I would draw a line under your car now. I can sort of understand why you paid to have to have it repaired this time as you definitely would have had to rent one in the near future for events that are already planned, but there comes a time when you have to draw a line for the sake of your finances and mental health and I think that time may have come.

Unless, of course, I have misread and your car is worth a fortune and the amount you have put towards repair is a smallish percentage of its overall value (in which case sell it and invest in something cheaper and on better condition

)

Perhaps talk with your OH once he returns and decide where the line is in the sand is for you both and bid a fond farewell when you get there there e.g. next time it breaks down?

Suffolk_lass · 12 September 2018 at 5:51PM

I was just re-reading your comment about the impact on your DH's commute if he has no car. I drove to my old office yesterday and it was remarkably stress-relieving to not worry about drop-off, pick up or whether everything was running. You might want to talk this through before ditching your old car. And I would sell it when working, not when it is broken, so you get some sort of return.

You could start looking into whether there is a community car scheme - (like a rental but the collective share the costs) that you might be able to join. Or you could try taking it off the road for six months with a SORN - you would still have to insure it (lower cost though) and it must be off the highway, but just so you can see how you manage without it, and whether you do save enough to replace it. Then you have the option to opt it back onto the road if needed, and possibly combine both its' sale price and your savings pot for a replacement.

Or you could have a really small economical car for both your commutes, and one adult running 3 children around, but need to hire one for camping hols. Lots of the small electric jobs are £0 VED. Just a thought. If your business trips are short enough for a single charge trip...

Treadingonplaymobil · 14 September 2018 at 6:13AM

Week 83: Day 5

Woo hoo, my big booking has come off and I have been paid, so October's salary is looking a lot less uncomfortable! Still not completely covered, but will be covered by my contract work invoice even if nothing else comes up.

I have also managed to balance our budget for September without needing the child benefit this month. This is great as it means I can put this month's child benefit towards next month's budget rather than adding it to the current month halfway through. It doesn't actually increase our pot of money, but does mean that I can assign all the money at the start of the month, without needing to wait until the CB comes in before everything balances, which I think will improve my budgeting very fractionally. A tiny thing, but it will make a bit of a difference, even if only in my head.

Working again today, which is a last minute booking and was a pain to sort childcare for, but DH has been able to arrange to work from home. Only another £90 or so after expenses, but better than a smack in the face, as they say :rotfl: . I really need to put up my fees for this client - it's a longstanding client, and I have never charged mileage, because I am terrified of losing them, but I wonder whether I need to increase my daily fee or charge a small mileage fee, as it's a pretty low rate for a day's work once mileage is covered. But it is super easy and fairly enjoyable work, which is why I don't want to put it at risk.

The car has managed a whopping two days without any problems

. Haven't had a chance to talk to DH about it yet, must add that to the list so we have a firm number in mind if it needs another repair (or indeed whether he'd prefer to bite the bullet sooner and sell it so there's a small pot of cash towards a new car. I doubt it though - it's going to be really inconvenient for him if we're carless).

Apart from the big spends - DC1's birthday, the car - general spending really isn't looking too bad this month. We haven't gone over our food budget yet, and there's plenty of food in the cupboards. I don't think we'll need a food shopping delivery until the middle of next week, although we'll need a top up of fruit and veg before then. We've spent very little of the entertainment kitty either, which is nice, and this weekend will be low spend too as all we need to pay is the £30 or so for camping.

DH and I had one of our circular chats last night about how busy we are/I am. The extension is taking up a reasonable amount of headspace and time on top of the usual 'running the house' stuff, and he just doesn't have the time to keep on top of it, and the expectation from his work over his commitment level is ever-increasing, making it harder and harder for me to get significant chunks of work done in the evenings or whatever. He's hopeful of another pay rise at some stage, but there isn't a chance of it before January at the earliest as they are shuffling roles about a little (they are adding in a layer of management, which he will hopefully be promoted into). The other problem with that is that he's at the top of the banding for his current role, and will presumably move into the bottom of the next banding if he gets promoted, so the actual payrise will be minimal. Also he is very close to £50k now, which means CB will start tailing off if he earns much more. It would be much better for our budgets if I were to earn more, as I only pay basic rate tax and wouldn't impact CB, but life commitments seem to make that a major challenge.

I'm not really sure what the solution is to the busyness, as I look at my list and don't see anything that could be reasonable cut (ok, apart from some of the really deranged cooking from scratch, like homemade frozen chips, but that was only because my mum gave me 10kg of potatoes and I needed to do something with them! :rotfl: ). It's partly that I have so little free time at the moment because DC3 is still only part time at school - I'm hoping it will improve significantly when she is full time and I'm just catastrophising after a summer barely working and then not being able to get stuck straight back in during September. I'm wondering about dividing up my time a little more, so I have four days a week for working and a day for domestic/extension project management stuff, as at the moment I can keep the extension stuff to just one day a week. It will be trickier once the build actually starts, but I think we are both resigned to me basically earning nothing over that period. Basically I feel like I never ever ever stop - I move from one job to another to another to another all day and into the evening, then sit down for five minutes, then go to bed, rinse and repeat. There is never ever ever a time when I just sit down and relax, to knit or watch TV or whatever. I mean really never, not 'oh, I only get to do it every third day'.

I want to lower my expectations of myself each day, but then I look at the things that need doing and I'm not sure how to manage that - what can I actually stop doing that won't have a material impact on our lives? The domestic stuff still has to happen, we still need to eat, food shopping has to happen, laundry etc. I need to work as much as I do in order to keep our budget balanced, or accept that the debt will be paid off at an even slower snails pace, the extension needs to keep moving forwards if there is even the smallest danger it will be built next year (and with DC1 getting closer to puberty I think it's important to prioritise him not having to share with his little sister). Not sure. My life coaching buddy has agreed to sit down and look through my daily lists from the last few weeks with me (all in one notebook, thankfully, for ease of revisiting) and see what looks truly ridiculous from an outside perspective.

To do this week
1. Sort the car!!!
2. Phone the potential extension drawing chap who replied to my enquiry email last week.
3. Find at least one other extension drawing person to get a quote from.
4. Chase first builder for a quote.
5. DH to phone another builder for a quote. This isn't going to happen until next week as DH is so busy at work.
6. Contract work for next week.
7. Contract work for the following week.
8. Make cake etc for DC1 birthday party.
9. Stick to social media schedule for work.
10. Pack orders for smaller business.
11. Make some packed lunch supplies - quiche, savoury muffins etc. Quiche and flapjacks made, will do muffins today.
12. Piece of work for client A.
13. Piece of work for client B.
14. Life coaching check in.
15. Swim club subs.
16. Snack subs for DC3.
17. Clear the ironing mountain.
18. Order trainers and another pair of school trousers for DC2 (why do they keep growing?!). Have found a pair of DC1's old trousers that will do, so just trainers needed.
19. Top up fruit and veg shop.
20. Contemplate the upside of the house/car/work stress, which has meant losing 2lb over the past week. If I can keep the stress levels up my 'how do I lose weight?' crisis may be averted :rotfl: . :rotfl:

September money goals:
- £10.68/30 September rounding down pot.
- £3,766.98/£5,000 2018 debt repayment goal.
- £664/864 income needed for October.

Honeysucklelou2 · 14 September 2018 at 6:34AM

You are at a stage in life that is busy, as any working mother of young children will sympathise with you. Looking at your lists, the only thing that I can see could be cut, is your ironing mountain. I write that as someone who used to iron everything and I mean everything, underwear, towels, the lot. When I got to child number 3 and holding down a job, I realised I couldn't do it all without something giving. Nowadays, I fold everything carefully when it comes off the washing line and keep the ironing for any formal type clothes, DD2's chef clothing and bedding ( yes I know, but I can't quite give up ironing the bedding!)

My days are frantically packed and I totally get the not having chance to have downtime, so I find that I snatch moments, like walking the dogs with my DSs or simply walking round the garden and savouring the changing colours, even for a minute or two, or walking across the beach. Can you incorporate any of those moments into your day?

arsenalbarnie · 14 September 2018 at 9:07AM

I had an ultra organised friend who had a list on the wall of what was in the freezer. When she took say a tub of home made pasta sauce out she changed the quantity left. This meant she knew when to make another batch. It sounds s bit noddy like the way I am explaining it but she managed to stagger the batch cooking. I have never managed to be that organised. I think the amount of cooking you do is staggering along with everything else in your life. I used to allow mine a lazy dinner once a week, 'beige tea' night they called it tho I made them have frozen peas for greenery. It was usually fish fingers, chips and peas. I have now invested in an air fryer. They make amazing chips with real potatoes and 1 Tbls of oil. The eldest two (21 & 19), still at home still like this dinner, but they have progressed to tartare sauce instead of ketchup lol. Fish fingers are plastic free, are they something you would consider feeding yours once a week? The Sainsbug taste the diff ones are really nice and don't look like they have any colouring in, tho from memory they may be in a plastic bag inside the box. . My daughter likes the Ald1 omega 3 ones and they are def pl free. Fish fingers is one lazy food I buy, as like you I avoid plastic where at all possible.

Sorry am rambling but you have my sympathies. Having brought up a family of 5, I know what it's like. I still seem to fill my days and rush around. Do you think some of it is the way you are? I just think it's my personality. I can't bear to sit down if there is stuff that needs doing whereas my friend will sit on her a*se at every opportunity to do crocheting and couldn't give a stuff about the mess. She admits she is a lazy so and so tho :rotfl: Keep going :T

KxMx · 14 September 2018 at 1:48PM

Perhaps the DCs can take on more around the house, every little helps.

And if you can lower your standards a little, you shouldn't be too tempted to go behind them and do the job again

stoozie1 · 14 September 2018 at 2:40PM

WRT losing Child benefit with the promotion, remember you can deduct the gross value of all pension contributions and gift aid payments (including national trust membership etc) from his salary, and it's that figure which determines if the CB is to be repaid.

HTH!

Moneyfordreams · 15 September 2018 at 1:30PM

Really enjoyed reading your diary over the past few weeks... I've often wanted to answer your questions but was so far behind I knew you would have moved onto the next topic. Why don't you stop writing lists? Let things get done organically

School/laundry/food happens daily that's embedded, have a list for the unusual not the norm. May take a bit of pressure off.

I'm keeping my fingers crossed your car keeps behaving itself. We run an old corsa Y reg (was my mums) and a 2010 207. My petrol costs halved when I changed cars a few years ago. My OH constantly complains his petrol costs are vast compared to mine. I would love to replace mine and pass it to him, but for now the high fuel is a trade off for a free car. A newer smaller car my well be more cost effective for fuel efficiency for you. (similar to Suffolk lass's thoughts)

£67,031.92 is a frightening number indeed....

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