£15,000 to 0

Silver_Queen · 20 August 2018 at 3:42PM

The real, raw, ugly truth

A summary of my affairs...

Debts

Parental Loan: £9,500
Amex: £1,300 (will be cleared partially using savings and partially on payday)

Assets

NW account: £50
FD account: £36.01 (pending transaction of £19)
NW acc 2: £5.88
FD saver: £150
LISA: £302, £44 bonus pending
HTB: £967.50

Notes

The reason why I have so many current accounts with tiny amounts in is because I try to make use of all the bank switch bonuses and each account has 2 direct debits, so I need to maintain a small balance as a buffer.
OH owes me £867 which he will pay back at between £200 and £250 per month.
OH has an overdraft which is interest free (£250) which I will be trying to help him get out of, possibly to the minor detriment of my own finances
I have a networking event coming up which I expect to spend up to £50 at
My OH and younger sister's birthdays are within days of each other at the end of September so I anticipate there will be around £200 worth of spends related to that coming out of my next pay. OH's present is sorted but we may go for dinner. Sister will have around £100 spent on her.
I am awaiting a payout of £7 from prolific and £50 from populus.
I am awaiting a refund of £115 + £30 on a gift card from House of Fraser (:eek::eek::eek: given the recent news) and £60 from Hobbs.

Silver_Queen · 24 August 2018 at 3:07PM

Forgot to add to the above that I have £150 in premium bonds.

Very frustratingly, I will be paid late this month which will mean that my rent will take me into my overdraft. To avoid this, I have taken out the correct amount for my rent from my Help to Buy Isa and put it into my current account ready for when it will go out tonight.

Things are looking a bit more cheerful on my end, which is nice. I have all but decided I will be buying outside of London. The next dilemma is, do I buy with my boyfriend or do I buy on my own?! I don't earn enough to buy a decent property on my own so it would be a studio or 1 bedroom flat. However, I am worried that things will go sour between us after buying. Also, he will not be able to contribute towards a deposit so the deposit would be my funds only.

I have floated the idea of buying with my sister, who has told me that she would be happy to lend me some money for a deposit without interest. Obviously, I would prefer to save my own but the area I'm looking to buy in is likely to shoot up in price in the next couple of years (it's up and coming!) so I would like to buy sooner rather than later.

Done a bit of research and it looks like I should expect to be paid between £35k and £45k after I qualify in the new year, which is nice!

efes_shareholder · 24 August 2018 at 3:55PM

Silver_Queen wrote: »

Forgot to add to the above that I have £150 in premium bonds.

Very frustratingly, I will be paid late this month which will mean that my rent will take me into my overdraft. To avoid this, I have taken out the correct amount for my rent from my Help to Buy Isa and put it into my current account ready for when it will go out tonight.

Things are looking a bit more cheerful on my end, which is nice. I have all but decided I will be buying outside of London. The next dilemma is, do I buy with my boyfriend or do I buy on my own?! I don't earn enough to buy a decent property on my own so it would be a studio or 1 bedroom flat. However, I am worried that things will go sour between us after buying. Also, he will not be able to contribute towards a deposit so the deposit would be my funds only.

I have floated the idea of buying with my sister, who has told me that she would be happy to lend me some money for a deposit without interest. Obviously, I would prefer to save my own but the area I'm looking to buy in is likely to shoot up in price in the next couple of years (it's up and coming!) so I would like to buy sooner rather than later.

Done a bit of research and it looks like I should expect to be paid between £35k and £45k after I qualify in the new year, which is nice!

Buying with your boyfriend could get messy however a solicitor should be able to draw up a deed of trust which basically outlines how the sale of the property would be distributed in the event of a breakdown in the relationship
You will hold a greater share of the property which should if things turned slightly messy mean that you get to decide the future of the property.

Silver_Queen · 24 August 2018 at 4:45PM

efes_shareholder wrote: »

Buying with your boyfriend could get messy however a solicitor should be able to draw up a deed of trust which basically outlines how the sale of the property would be distributed in the event of a breakdown in the relationship
You will hold a greater share of the property which should if things turned slightly messy mean that you get to decide the future of the property.

Thanks efes shareholder. This is similar to what I'm thinking of doing, or even simpler just hold the property as tenants in common. Luckily I'm a trainee solicitor so if I need legal advice or someone to draw up an agreement I can just pop to the next desk over...there are some perks to this job!:rotfl:

angela110660 · 25 August 2018 at 7:22AM

Just want to pop in and wish you well after having a good read from the start. Hope you are still managing to save for your annual train ticket at least as that will soon come round again. You are still young and it is hard to balance all your plans with your finances at that age I think. You feel bold because you have a good job and yet you never seem to have enough money! You want to do and have everything now or as soon as you can but don't forget that you are not your parents- so many times young people aspire to have exactly what their parents have or did but forget that their parent may not have had/done those things for many years of their working life. We have all been there but don't forget that you have years and years ahead and you don't have to do everything by the time you are 30. Enjoy every day while keeping up all your hard work as it has worked in that you had money for NYC available. Keep on keeping on and well done. Just don't be a lender too often would be a small comment! Bless you.

Silver_Queen · 28 August 2018 at 1:23PM

angela110660 wrote: »

Just want to pop in and wish you well after having a good read from the start. Hope you are still managing to save for your annual train ticket at least as that will soon come round again. You are still young and it is hard to balance all your plans with your finances at that age I think. You feel bold because you have a good job and yet you never seem to have enough money! You want to do and have everything now or as soon as you can but don't forget that you are not your parents- so many times young people aspire to have exactly what their parents have or did but forget that their parent may not have had/done those things for many years of their working life. We have all been there but don't forget that you have years and years ahead and you don't have to do everything by the time you are 30. Enjoy every day while keeping up all your hard work as it has worked in that you had money for NYC available. Keep on keeping on and well done. Just don't be a lender too often would be a small comment! Bless you.

Hi! Thanks so much for your lovely comment and for popping in!

I can't believe anyone would want to read my diary from start to finish, I'm so indecisive and I swear I just flip flop back and forth on a daily basis :rotfl:

You are completely right in everything you say and I have to remind myself that it's OK for me to take a little bit of time to do things and everything doesn't have to be a huge rush.

Working on the lending money thing

I forgot that it's silly and in fact a bit rude of me to be lending money when I still owe so much money myself.

I have actually managed to save up for a season ticket in a separate account, it's so out of sight and out of mind that I forgot it even exists! I will need to top it up a little because of the fare price hikes though. It will definitely be sad once it's paid out and I have practically no savings again...

Silver_Queen · 28 August 2018 at 1:25PM

On an unrelated note, I will definitely be paid late this month so I've had to raid my help to buy ISA to pay rent. I will replenish this once I've been paid but it's really frustrating. Silver lining, at least I had a help to buy ISA to raid...

Silver_Queen · 29 August 2018 at 12:33PM

Payday today, hooray.

I've decided to actually just dump the money in my LISA rather than continuing with my Help to Buy ISA. LISA just seems better overall.

Trying to stay motivated!

Silver_Queen · 30 August 2018 at 12:22PM

Trying to make sure I post on here regularly so that I am kept on the straight and narrow.

Spent £3.45 this morning after a particularly stressful day in Court, bought a coffee and croissant at Pret. I'm pretty sure that Pret is the weakness of every mid-20s Londoner out there. The food is OK and vaguely healthy but so very overpriced.

I brought lunch in today (first time all week, I keep forgetting it) so shouldn't have to spend there.

I'm secretly hoping for a premium bonds win but I know realistically it's unlikely! This is why I never gamble, I get too excited hoping for a win!

I'm still debating whether or not to throw all my Help to Buy money into the LISA. On paper it's a good idea but I'm terrified I'll need the money. I haven't got a proper emergency fund really, I'd been relying on my Help to Buy in case of emergency.

There will have to be a complete budget overhaul this weekend, I think...

Positive news, the BF has started looking for jobs in and around the London area, yay! This means that hopefully, we'll be able to move in together around the beginning of next year. I've had a good chat and a good look and feel it may actually be better for us to hold off on buying a house for another year or two because there may possibly be a big slump or at least stagnation. This is good because it gives us a bit more time.

My sis owes me £100 (I know, I know!) which she will give back to me the next time we see each other. We hardly see each other now even though we live together because our schedules don't match, so it's kind of like living alone! Great but at the same time, I was terrified last night because I thought I heard some noises...

I'm swamped at work! It's gotten to the point where I'm overwhelmed and don't know where to even begin, so instead I'm sat on MSE writing a long post...of course...

Silver_Queen · 31 August 2018 at 1:08PM

A bit frustrated today. I purchased a coat for almost £150 at the end of July from a certain retailer which has since gone into administration and subsequently purchased. £30 on a gift card and £120 cash. The coat arrived and it was a size too big and I was feeling guilty for spending so much. By the time I returned it by post, the company had changed hands but I was reassured by the things that had been said so I thought it would be safe for me to return for a refund. It's now been two weeks later and no news about a refund... emails and calls aren't being answered. Grrrr.

I paid with PayPal so hopefully I'll get my money back that way. I'm assuming now that the gift card is just a write off

£15,000 to 0

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