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  • FIRST POST
    • MovingForwards
    • By MovingForwards 15th Nov 19, 7:08 PM
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    MovingForwards
    Moving forward and upwards
    • #1
    • 15th Nov 19, 7:08 PM
    Moving forward and upwards 15th Nov 19 at 7:08 PM
    I decided today to bite the bullet and start a saving for a deposit diary.

    Moving away from my other diary as that served its purpose for that part of my life. Its now time to focus on my next goal, buying my own home, for that I need a 15% deposit.

    For nearly three years I've been saving my pennies, saving chunks of my wages, locking money away into fixed rate bonds and repeating the process each January. Updating spreadsheets is part of my daily life, as I can see how things are progressing each month and how things changed since the previous year.

    Along this journey I've had to shell out rental deposit, moving costs, furnishing a rental, quitting a well paid job, temping part-time for most of this year before recently securing my current role, buying a car, repairs etc.

    On top of that I've handled my own divorce, which was granted this week, started a part-time OU degree, having a complete career change and I am looking to my future.

    I've been continuously saving each payday, had nice PPI payouts, clearing aged debts, been rebuilding my credit history and generally getting on with my new life.

    For over a year I've had my mortgage broker and am working closely with him, checking I'm on the right track and drop random emails to him with updates and queries. To his credit, he is very helpful!

    I'm now in a position to put half my wages away each month into my mortgage savings accounts (MSA's), with that my deposit increases and it allows me to increase the maximum property price I look at by nearly 5k, but as with everyone I'm restricted to an absolute upper limit due to my income.

    If I think of it like steps, the absolute highest step is 10th away from the bottom, for that I am looking at 11 pay days or 11 months as I can't quite reach the amount required each month to move up a step; I'm always just a tiny bit short and still want the option of going out occasionally, getting a hair cut etc, but I do allow myself a chippy night once a month.

    I could keep saving after reaching the top, but I have no interest in doing so, I don't want to keep paying out dead money each month in rent as that could be going on my own home.

    Step I'm currently standing on:

    Step 1 - I'm at 15% of the lowest price I can buy at.
Page 2
    • savingwannabe
    • By savingwannabe 8th Dec 19, 5:55 PM
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    savingwannabe
    I pay 750 a month for my mortgage. It's half my income (just my paid salary) I think we are supposed to spend less as a % of income but it is impossible where I live. lol.

    A 20% deposit is fantastic. This is a brilliant achievement not many single people can do this (as your brother has said) so make sure you celebrate.

    I hope your Christmas party goes well and well done on doing your hair. lol.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • MovingForwards
    • By MovingForwards 8th Dec 19, 7:15 PM
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    MovingForwards
    I pay 750 a month for my mortgage. It's half my income (just my paid salary) I think we are supposed to spend less as a % of income but it is impossible where I live. lol.

    A 20% deposit is fantastic. This is a brilliant achievement not many single people can do this (as your brother has said) so make sure you celebrate.

    I hope your Christmas party goes well and well done on doing your hair. lol.
    Originally posted by savingwannabe
    That's nearly the rent I pay on this flat and potentially about 250 more than I will be paying when I get a mortgage.

    I know I've done well to raise the deposit I have done so far, be happier when I've got another 2300 in the bank and comfortably got my 20% for the 75k lowest value I can have. My potential lender is just a bit funny about ex-council flats and they are assessed on an individual basis, I'm at risk of offering on something they would never lend on I've yet to find out what ex-council properties are a definite no, so that might be a question I should put to my broker!

    My hair needs doing again! Damn thing grows too quickly

    I'm meeting up with my friend in the week, the one who offered to sort out the rest of my deposit but the lender wouldn't accept it, have a few drinks and will celebrate then. It's great when I meet her as we don't get to see eachother that often as she's normally somewhere else in the world!
    • MovingForwards
    • By MovingForwards 13th Dec 19, 11:46 AM
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    MovingForwards
    Friday update.

    Booked today off and I'm so glad I did as I overdid it yesterday when I met my mate. We had a walk round the markets, had haggis etc for tea, followed by a shopping trip and another pub (spent under 13 on ONE round and remembered why I don't go out drinking, my mate paid for most of the night).

    Supposed to be having a belated year older BBQ on the beach today, waiting for my meds to kick in and see how mobile I am

    Been spending so much time on the internet looking at areas, Google maps, satellite maps, properties, homebuyers reports I've gotten a little fatigued! I have also started to look into insurance as I may buy a tenement; they don't always have factors (managing agents) and I'm now a lot more clued up on sharing repair costs with the other owners.

    I have my DIP and it's up to 83k I can potentially borrow at least I know my ultimate limit now; just have to start viewings

    I also took a stance that I'm not prepared to save 20% deposit, I'm happy saving 15% which is realistically achievable on my salary. Another reason is my associated fees / costs are over 3600.

    The challenge has been finding non-ex-council properties however, due to opening up my areas to back over the water there are a lot more potential properties which are not ex-council, in my budget and within 30 minutes train commute but I've found quite a few and ruled out several of them.

    Not sure if I said, but I've had quotes from three different solicitors, only one are on my lenders panel, so that's another thing ticked off.

    Got an extra 100 in my MSA's due to birthday and Christmas present money from my mom, and birthday money from my brother. That's bumped my savings up nicely!

    Due to sticking to a 15% deposit my steps don't need to change

    Step I'm currently standing on:

    Step 2

    and within kissing distance of the next one.
    • MovingForwards
    • By MovingForwards 14th Dec 19, 4:13 PM
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    MovingForwards
    I'm doing the final deposit and associated fees push over the next few months, therefore my family are happy for me not to do gifts for them this year.

    I will buy my OH something small, as a token of my appreciation for all his wonderfulness this year.

    My friends will have the pleasure of my company at a party, as they know what it's like at this stage.

    Somehow I am going to try and find 850, this month and again next month, to save.

    Having had a look in the cupboards and freezer, I'm still doing well for food, just need bananas, milk, oats, crackers, cheese, bag of apples and cat food over the next two months. I'm allowing myself 10 PW for food, or if I save that and the change, I can just use all my supermarket points and survey points instead.

    I'm off for two weeks over Christmas, so that saves me on petrol, I also don't tend to eat breakfast when I'm off and most days skip lunch too or just have an apple (don't you just love being in active when not working!).

    No chippy night, no hair dye, no eyebrow threading treats etc.

    I've looked at my spending spreadsheet and I can just about do it.

    Time to tighten that belt and push hard!
    • savingwannabe
    • By savingwannabe 15th Dec 19, 11:14 AM
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    savingwannabe
    Well done on being so frugal over Christmas. It's admirable. I think its good you decided not to overstress yourself with a 20% deposit. Stay positive and have some relaxation. You are so on track.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • MovingForwards
    • By MovingForwards 20th Dec 19, 8:40 PM
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    MovingForwards
    Find a penny, pick it up, sure as fluff, it will bring you luck..... (I know, I have changed one word )

    Well, it's the weekend and so far I have found a grand total of 8p on the floor this week. I've added it to my change pot as it all helps.

    I've been paid for this month, I have already put 550 away, another 200 will get tucked away in January into my H2B ISA. Throughout the remainder of January I will be tucking a bit away each week that I don't buy food, until I reach payday again

    My 2 year fixed rate bond matured today, that's now tucked away earning 1.50% apr and making friends with the rest of my money.

    I'm still due to receive a bit of Christmas present money, which will get tucked away too.

    I cannot believe it's Christmas next week and I've still got to get my OH something

    Doing the Christmas shop tomorrow, so not looking forward to that; if I wasn't getting a bottle of wine I would be there at 6am

    Step I'm currently standing on:

    Step 3

    Merry Christmas everyone, when it comes
    • MovingForwards
    • By MovingForwards 24th Dec 19, 2:39 PM
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    MovingForwards
    Christmas Eve update.

    I'm off work for a few weeks, packed and ready to go away. Hopefully I will have some lovely photography opportunities while I'm further up Scotland.

    Just need to risk life and limb squeezing my cat into her travel box, if that doesn't work then it's body brace and a seat belt; if you don't ever hear from me again I've bled to death...

    Picked my OH a few token gifts up, I feel so mean spending under 25 on him (taking into account the gifts he found ) but he understands I'm a woman on a mission to buy my future security

    I was given a bottle of wine by a colleague, saved me buying one

    My brother has given me double the amount he normally does for Christmas and so that is now tucked away towards my deposit.

    Got given money by my OHs relative, so that will get banked when I'm back.

    It feels weird having money in my account, waiting to be moved to savings, but the H2B account only allows 200pcm.

    As I have spent a little bit for Christmas, I can only put 750 away out of this pay, but it's still great for this time of year.

    I did have a look at available properties, still ex-authority for my budget and a huge amount of regular properties over the water; I have made up my mind to move over when the time comes, it will be a lot easier to find a non-ex-council property, the commute is only short and quicker than where I am renting over this side to work! (I have no objections to ex-council properties, it's just the 20% deposit on them that I can't / won't stretch to)

    Step I'm currently standing on:

    Step 3

    Im so close to moving up to my next one.
    • MovingForwards
    • By MovingForwards 28th Dec 19, 10:28 AM
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    MovingForwards
    Post Christmas blues (nah, not really) update.

    I got back home yesterday and the drive left me shattered. I'm supposed to be going to a party later, but can't move from the sofa. For 27 years now Ive been running around over Christmas, visiting everyone and not actually relaxing and enjoying the time.

    I've already said I'm not doing it next year, I'm having Christmas at home, it's getting too much for me and takes me too long to recover, wiping out the rest of the time I have off.

    Anyhow, it was good to get away from the neighbours, the smell of dope and the noise from them, I also got to spend a bit of time at the beach Christmas day, watching the sunrise and taking photos. I definitely want to be near water when I buy!

    Sad part is my cat is so stressed, since getting back she has hidden under my bed; I can't subject her to travel and other people's homes. I'm also very concerned about moving with her, based on how she is now she is back home.

    I did quite well for gifts, just have to get it in the bank next week. My OH gave me a gorgeous necklace and bracelet, which made me feel so guilty about what I gave him, but he understands I'm still on a mission to buy in 2020.

    Get to move money to my H2B on Wednesday

    I haven't used any of my survey points or supermarket vouchers yet, but will look to use them January and February so I can spend as little cash as possible, allowing me to boost my savings a bit.

    Spending plans for January:

    Got no plans for January.

    Given up planning to get my haircut.

    Step I'm currently standing on:

    Step 3

    Edging ever closer to the next one!
    • savingwannabe
    • By savingwannabe 28th Dec 19, 12:47 PM
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    savingwannabe
    Well done on getting away for a bit. Poor cat will be ok soon I hope. Well done on saving more money. I think it is nice that OH bought you something nice it shows he cares.

    I do love being at home over Christmas but because of my depression that isn't always good. All my friends are brilliant though and always sort me out over Christmas. They are so good. I hope you get a perfect one next year. All being well you will have moved.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • MovingForwards
    • By MovingForwards 1st Jan 20, 2:12 PM
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    MovingForwards
    2020 update.

    My cat has now settled down, back to her spoilt ways

    I've barely moved between the sofa and bed since getting back, but it gives me plenty of time to plot and plan ideas!

    A further copy of the student vegetarian cookbook has been ordered (never got my last copy back off someone I worked with before they left, my brother lost the copy I lent him), it cost me 1.73 but has so many nice / cheap biscuit, cake and main meal recipes.

    I have 35 for food shopping money until payday and 20 for petrol.

    Don't panic, I have an upright freezer full of food, but have also decided to trim my luxury (cheap steak) meals back, will be making things like chicken and rice, chicken noodle soup, pork and bean soup/stew, lentil curry / soup etc.

    I made a pork roast on Sunday, then made a spicy bean, passata, onion, pepper, carrot, potato and pork stew with the left over pork; got five meals out of a pork joint (originally cut from a large joint, made three joints out of the big one ).

    I just need to pick up cheese, milk, bananas, bag of apples and veg throughout the month. When I'm at work I have a smoothie for breakfast, cheese and crackers for lunch, apple for snacks.

    As it's now the start of the new month, I moved 200 into my H2B ISA.

    Step I'm currently standing on:

    Step 4
    • savingwannabe
    • By savingwannabe 2nd Jan 20, 5:17 AM
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    savingwannabe
    Oooh well done on being MSE with the food and on the savings to your ISA. I hope payday is close by and am glad you have extras in your freezer. Here's to a good month.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • MovingForwards
    • By MovingForwards 2nd Jan 20, 9:46 AM
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    MovingForwards
    Oooh well done on being MSE with the food and on the savings to your ISA. I hope payday is close by and am glad you have extras in your freezer. Here's to a good month.
    Originally posted by savingwannabe
    Only 26 days til payday
    • MovingForwards
    • By MovingForwards 10th Jan 20, 8:19 PM
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    MovingForwards
    Weekend update:

    My student vegi cookbook has arrived, it's in brand new condition

    So far I haven't spent any money, I need to get some fruit and cheese for next week, so will have to go out at some point, probably tomorrow then I can rest up on Sunday.

    Used some of my supermarket points and treated myself to a frying pan and oven casserole dish. Will see if anything else takes my fancy and use some more of that particular supermarket points.

    Sold my surplus furniture to my flatmate, can't be leaving them with nothing when I eventually go, means I can do one van run when the time comes; keeps costs down and will allow me to buy whatever suits my new lifestyle. That money was moved to savings together with a bit of my food budget money.

    Still been working my way through my freezer and cupboard supplies, got enough to last til payday and beyond, will do a big shop payday to fill it back up the end of the month. Lots of veg soup has been made, it's lovely to get in, put the hob on to warm it through, and get changed before settling down to eat it.

    Got 45 to last me for food / petrol - 18 days time, not panicking as I've still got my survey points and a load of supermarket points left I have looked into my survey points and it seems I may be able to buy paint, therefore my plan is to keep doing the surveys, save the points and convert them to vouchers so I can decorate for free when the time comes

    I've managed to catch a cold and am snuggled on the sofa feeling sorry for myself; somehow I cope being being in constant pain but getting ill on top of that just finishes me off!

    Spending plans for January:

    1. Buy a few boxes of hair dye (10)
    2. Buy some nail varnish (2)
    3. Do a monthly shop (60)
    4. Buy fruit, cheese, milk weekly (5)
    • savingwannabe
    • By savingwannabe 11th Jan 20, 10:41 AM
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    savingwannabe
    I am sorry about the cold rest as much as possible. Hurrah for kitchen equipment. I think you are very organised with your food. I hope you have a restful weekend.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • MovingForwards
    • By MovingForwards 11th Jan 20, 11:54 AM
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    MovingForwards
    I am sorry about the cold rest as much as possible. Hurrah for kitchen equipment. I think you are very organised with your food. I hope you have a restful weekend.
    Originally posted by savingwannabe
    I'm feeling a little better today still tucked up on the sofa and listening to the rain, saves me washing my car

    Been looking at microwaves today and other furniture. Going to start saving a small budget (500) to get a few things.

    I will admit to looking around online to see what the reclaimers have and my goodness there was some lovely old furniture, fire places etc, I've also been nosing around to see what IKEA have; I did this flat out with a mix of IKEA furniture and Argos sofas from BHF. I do quite fancy the large armchairs but at some point I will go to IKEA and BHF, all makes for a nice free day out!

    I do like the IKEA daybed with under storage, but at the same time have seen a low cabin bed type bed with a table and storage units which would be great for a second bedroom; I'm thinking office / dressing room / guest room.

    I'm keeping an eye on gumtree and local selling sites just in case anything really nice pops up.

    But who knows what I will want when I'm ready, but my view is there's no harm seeing what is around, pricing, assessing my budgets and snapping anything fabulous up should it appear. I have the space in my bedroom for a few bits.

    At some point this month I will go through my clothes, see what's good for charity, what I want to keep and wants only good for recycling. I can start packing my winter clothes into boxes.
    • savingwannabe
    • By savingwannabe 12th Jan 20, 9:39 AM
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    savingwannabe
    Oooh what an adventure. It is great that you are looking around for bargains. I spent a fortune on new things when I moved in and Steve and Andy my friends saved a fortune by shopping around! I do like the minimalism of Ikea and have their furniture in my bedroom. Love it.

    I hope you are feeling better and have a good day.
    Trying to be a frugal minimalist. 15/31 NSDs. Saving 2 in money boxes.
    • savingholmes
    • By savingholmes 13th Jan 20, 10:56 PM
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    savingholmes
    HI MF - found you again. I hadn't realised I hadn't subscribed to your new diary so just thought you weren't posting. Things seem to be coming together for you even if it is frustrating about so many places wanting a bigger deposit.
    During 2020: Target 1) 25,121 to be repaid in 2020 (0%) Now down to 24,703 Target 2) repay 1450 off (OP 102.51) mortgage now 144872 @1.7% Target 3) Set up SIPPs Target 4) Declutter 52 bags - now done 4/52
    • MovingForwards
    • By MovingForwards 14th Jan 20, 7:07 AM
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    MovingForwards
    HI MF - found you again. I hadn't realised I hadn't subscribed to your new diary so just thought you weren't posting. Things seem to be coming together for you even if it is frustrating about so many places wanting a bigger deposit.
    Originally posted by savingholmes
    I know you've a lot going on and didn't expect you to subscribe.

    Things are coming together and I found the 20% deposit thing too much. To find an ex-council place valued at, or over, 75k was going to be tricky and where I was looking wasn't improving my potential commute time or cost, compared to looking over the water.

    The areas were also typical residential areas, again not what I wanted. I want the cafe culture and feel of what I had when I first moved to Edinburgh, not the experience I have now where I have to drive / catch a bus just to buy a loaf of bread. But I just cannot afford to buy here, too many LLs, too many Airbnb, I was priced out about a year after moving up here, and on one salary, it isn't happening.

    I accept that and will move to the vibe I'm after, but without the price tag! I want the option, not obligation, of driving, I want to be able to walk and look around local shops, find a little cafe to sit outside and people watch. I also need too think of when I'm older as who knows, how I will be when I retire; I want my little bit of paradise when buying

    Over the weekend I worked out it would take me over 45 years, of today's commuting prices, to spend the difference in property prices between Edinburgh and other areas; it's a no brainer really as I can't save 100k, with each passing month it's getting more expensive round here (yes, there are a few cheap areas, but I'm not prepared to live in them ).

    When I first moved to this ex-council flat, they were up for offers over 125k, one just sold for offers over 155k and within a few days of it being listed, that's in 17 months. I honestly don't think these flats are worth it!

    No point saving hard, having maximum mortgage, if I've no spare money to save for maintenance, upgrading and general savings, I'm going the sensible route of nice home, lower price, with a work / life balance. It would be great to ditch a day at work in the future and not have to stay working full time. Once I buy, I can the start planning a holiday of a lifetime

    14 days til payday and I've 45 still in the bank. Trying to resist sending some to savings
    • savingholmes
    • By savingholmes 15th Jan 20, 7:03 AM
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    savingholmes
    Sound like you have a clear plan. Hope you have a great week.
    During 2020: Target 1) 25,121 to be repaid in 2020 (0%) Now down to 24,703 Target 2) repay 1450 off (OP 102.51) mortgage now 144872 @1.7% Target 3) Set up SIPPs Target 4) Declutter 52 bags - now done 4/52
    • MovingForwards
    • By MovingForwards 15th Jan 20, 8:52 PM
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    MovingForwards
    Midweek update.

    Haven't done a work update for a while

    Was supposed to be attending training this morning, sadly my reasonable adjustment was disregarded / ignored (suitable chair request) and my boss pulled me out of the room after 15 minutes of faffing with the available chair! He saw the state of me after the last training session and wasn't prepared to subject me to increased pain by sticking around. I'm getting the trainer come to my office to do one2one training

    My boss is now looking into one2one training for anything compulsory as he saw for himself how today's was messed up. (The last one I attended affected my health due to the air con being on full and an unsuitable chair).

    I've been having an IBS flare up too and we were talking about it today, I explained what happens when it's an extreme flare up (hot / cold sweats, crippling tummy pain with risk of vomiting / passing out, together with screaming / crying due to pain, then waiting to recover) and agreed a plan just in case it happens at work as there is no way I'm getting round the building to the sick bay or even back to my office. So that was a worthwhile chat.

    It feels so strange actually having a boss being accommodating, understanding how my health fluctuates, how different things affect my health and is putting changes in place.

    Have been trying to understand all the different financial codes for purchases / spending and admitted I haven't got my head round which one goes with which and have been getting into a tiz about it the last two days. Apparently, I wasn't expected to be this far into my role yet and thought I would still be on the first aspect, not nearly learnt everything and already expanding parts of it with big plans to grow several areas of what I do

    Got my 3 month review tomorrow and I asked what I need to bring and if I need to prepare anything, nothing is required and I can elaborate on my expansion plans to the other manager who will be in the meeting.

    My department is over two sites, within this decade we should be one big site and all based at the other one. The expansion plans I have, for some of what I do, is over the next 2.5 years. Whilst I could easily put in place my plans for one aspect now (events, promotion, associated website etc), my site doesn't have the people capacity whereas the other site does

    Anyhow, I've harped on enough about work, but you can see it's going really well for me

    Stuck another fiver into MSA's.

    Spent some money today on lunch, bus fares and I stopped off at the chippy on my way home due to being on the bus and it taking 90 minutes to get back tonight

    Got 30 in the bank and payday is 13 days time

    Bound to be other things I wanted to chat about, but as always I've written enough and can't remember what it was
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