Renovations and Repayments.

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  • AlexLK
    AlexLK Posts: 6,125
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    Thank you, ourcornercottage. My house renovation has been going on for many years. Truth be told my wife and I did enough to move in and put up with it. We end up decorating every spring and if I'm honest with myself the house is not in good shape.

    I "beat myself up" about this and more things because life shouldn't have been like this and it seems as if my wife and son are being punished for what were my mistakes in the past, not theirs.
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • AlexLK
    AlexLK Posts: 6,125
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    Pleased to say I spent quite a lot of time yesterday on the windows and now have another installed. :) This house renovation isn't too bad when the weather is fine. :rotfl:
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • edinburgher
    edinburgher Posts: 13,450
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    It would seem that the black dog has been paying you a visit, hope the improved weather has helped him sod off ;)

    Depression aside, I get the impression that you're not big on planning in general? Have you tried to write up a 5 year plan etc.?

    I am not a big one for specific plans either, I just try and do the right thing as much as possible and eventually good things fall into place. But I see a lot of people who are very strong planners/orientated by specific goals on this forum (your Tillys, HDKs etc.) Sometimes I wonder (for myself) if failing to plan is a manifestation of fear of failure.
  • I too am not a good planner and we all make mistakes. You should focus on the future not the past it's the only thing you can change :-) it sounds like you do a lot for your family to me :-)
  • AlexLK
    AlexLK Posts: 6,125
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    It would seem that the black dog has been paying you a visit, hope the improved weather has helped him sod off ;)

    Depression aside, I get the impression that you're not big on planning in general? Have you tried to write up a 5 year plan etc.?

    I am not a big one for specific plans either, I just try and do the right thing as much as possible and eventually good things fall into place. But I see a lot of people who are very strong planners/orientated by specific goals on this forum (your Tillys, HDKs etc.) Sometimes I wonder (for myself) if failing to plan is a manifestation of fear of failure.

    The black dog is all too often by my side, though the good weather has really lifted my mood or it could be getting the classic cars out and a really nice weekend with Mrs K.

    As for planning :rotfl: :rotfl: :rotfl:, I don't know what I'm doing tomorrow let alone 5 years down the line! Seriously, what would a 5 year plan look like and is this for finances? My finances are quite complicated as personally I have very, very little as everything is tied up in my business finances because it's tax efficient to do so.

    I've seen Tilly's name but not read her diary, perhaps I should but I've not seen HDK. Any recommendations for diaries are much appreciated.
    I too am not a good planner and we all make mistakes. You should focus on the future not the past it's the only thing you can change :-) it sounds like you do a lot for your family to me :-)

    Some make mistakes bigger than others, mine in the past have been rather terrible. However, you are right it is only the future I can change, sometimes I'm so wrapped up in the past I can't see this. I do my best for my family, haven't always but for the past five years or so I've really come to appreciate how important family is.
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • AlexLK
    AlexLK Posts: 6,125
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    Tuesday 7th April, 2015.

    Dear Diary,

    For once, I feel rather bright about my day. No work has been done, unless you count a walk around a couple of antiques shops in the sun? Though I have not managed a No Spend Day, we did not eat at the pub we go to for a car meet this evening, instead we came home to slow cooked stew, prepared this morning. Perhaps, MSE will make a Yorkshireman out of me yet? ;)

    Tomorrow sees both Mrs. K. and I returning to work properly, she's got a long drive to visit an architect, looking forward to hearing all about that in the evening. :rotfl: I have one customer to see who buys things from me fairly regularly, then some music work. This combined should mean a No Spend Day.

    Here's hoping for another bright (and positive) day tomorrow.

    Yours Faithfully,
    Alex.
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • edinburgher
    edinburgher Posts: 13,450
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    edited 8 April 2015 at 6:45AM
    A five year plan could help with finances, or running a small communist country from your back garden ;)

    I suppose your plan could cover things like your exit strategy for your business, at what points it will be tax opportune to draw money out of it vs. OPing and how many classic cars you fancy balanced against boring stuff like food.

    I don't have a 5 year plan, but I'm pretty good out to 2-3 years.
    I've not seen HDK

    HDK is Helen Dave Kids. Helen is a woman on a mission and has paid off her largest mortgage and halved her weight in a short space of time!
  • AlexLK
    AlexLK Posts: 6,125
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    A five year plan could help with finances, or running a small communist country from your back garden ;)

    I suppose your plan could cover things like your exit strategy for your business, at what points it will be tax opportune to draw money out of it vs. OPing and how many classic cars you fancy balanced against boring stuff like food.

    I don't have a 5 year plan, but I'm pretty good out to 2-3 years.

    HDK is Helen Dave Kids. Helen is a woman on a mission and has paid off her largest mortgage and halved her weight in a short space of time!

    :eek: You've made me think more about the business and the direction it's going today than I've thought about it since it was started. Unfortunately, I've never really thought about any of this stuff and usually end up buying things because it seems a nice idea to buy / own them. I haven't a clue when it will be tax opportune to draw money out of the business and have not had such a conversation with my accountant, this could be to do with the fact I do not trust myself with money and see it as being "safe" whilst tied up in the business.

    I can't say keeping to a budget is easy for me. When I was at university I managed to spend my way through quite a substantial amount of money with little to see from it and before MSE I think I really did believe it grew on trees. ;)

    My house situation is quite a difficult one as whilst the right thing to do seems to be pay the mortgage off, sell it, move into my parents' house and buy two smaller houses to rent out, my wife would like to keep this house. Therefore, I question whether it is wise to pay off the mortgage at all.

    I'll have a look at these organised diaries and see if any of these planning ideas start to make sense, though somehow I doubt it. :rotfl:
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • AlexLK
    AlexLK Posts: 6,125
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    Forumite
    Friday 10th April, 2015.

    Dear Diary,

    Last night was a sleepless one and today has been, for the most part, awful. I often wonder if things will ever get any better, knowing the mistakes I made in the past has had a detrimental effect on both my present and future financial situation.

    Looking on the brighter side, today I spent a bit of time (and money) on the grounds at the front of the house which finally are beginning to look like something resembling a garden. :)

    Yours Faithfully,
    Alex.
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
  • AlexLK I was just wondering is there any chance that your wife could "manage" the house financially? In our household I control (not in a bad way) most of the money I sort out all the bills etc and then my BF and I have an amount per month which is ours to spend as we wants to. If he had control of all the money quite frankly nothing would ever get paid. We always have a minimum of 3 bank accounts (although more at moment) one for bills, one for his spends, one for my spends. The majority of the money goes into the bills account and then we have our own to spend/save as we want. It works for us and like I said, if he had control of all the money it would be a disaster!

    In terms of your business for tax reasons you should probably draw something from it. Ask your accountant the best amount and draw that every month. If you don't want to touch it put it into a savings account in your joint or wife's name that need you both to take it out and forget about it.

    If you are both bad with money would either of your parents help with the organisation?

    Sounds like you are seeing your way through the mist, just keep going things will come right. Look forward.
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