Hope is not an Effective Financial Strategy

shangaijimmy · 29 March 2016 at 8:24AM

OCC we are 34 & 37 so Spring chickens! Our savings are quite fluid in that they always get used up and as yet there's no real long term thinking to savings. Even our long term savings are really for a new kitchen which will be our MF present! Overall the fact we're all on here shows we shouldn't panic as we're taking steps to sort things for the future. As for EF I'm nit a big believer in it being a necessity and it's another one of those things that suit other jobs more than others. My job is fine until 2021 and MRs SJ secure indefinitely so it's not a major issue when you factor in sickness policies as well.

As for diwnsizing ours is more of a physical thing. After 2 back surgeries before the age of 30 we have to mindful of managing 2 flights of stairs and a big house into retirement. So it's bungalow around the age of 60 before it gets too late to move.

I'm a big champion of TTing and save the change, and 27p was TT'd with my morning brew today.

SJ

lippy1923 · 29 March 2016 at 1:03PM

Just had to google spring chickens. Never heard that term before. I must be a spring chick then lol

debtfreeoneday · 29 March 2016 at 1:42PM

Doing awesome in here SJ, well done!

shangaijimmy · 29 March 2016 at 7:46PM

Lippy I also class us as 37yrs young (not old)!

shangaijimmy · 29 March 2016 at 10:29PM

Oh forgot to add I OP'd March council tax of £177. Quite enjoyed those 2 OP's as it was a nice big boost!

AlexLK · 29 March 2016 at 11:06PM

OPing the council tax sounds like a really good idea.

Seems like another reason to pay it monthly (we started paying it in a lump sum in April to avoid the "bill").

Re. the downsizing, I can understand that. My parents wish to pass their house onto me and I wish to pass my parents' house onto my son one day. Do you not hope to give your house / your parents' to your eldest?

Lynplatinum · 30 March 2016 at 12:10AM

Hiya All

I am older than you lot - downsizing at the moment. Reasons are 1) the house feels very empty with both boys gone 2) boys have established lives in other Cities 3) By moving somewhere smaller I will get reduced fuel bills and water bills with smaller maintenance bills and reduced gardening (several older than me folk are having to pay gardeners to come in!). There will be some profit from my house which will enable me to retire in a seaside town at the age of 57!
I make no apologies for downsizing as my boys will still profit from my smaller house when I pass on as its value is going to rise more being in a picturesque area rather than my current house on the edge of Milton Keynes.
Plus I have worked long and hard as a single divorced parent for 25 years - doing everything on my own - so I feel entitled!
Nite all

debtfreeoneday · 30 March 2016 at 5:18AM

There is no need for apology LP - as much as I want to provide for my kids, I/ we will also live our lives how it suits us and I wouldn't stay in a larger place just because of inheritance.

shangaijimmy · 30 March 2016 at 7:49AM

Theres a big change now in how long we live now and it's conceivable that our kids will be well into their own housing pathway by the time we croak it. Given how long we will be retired for we need the house as part of our own retirement income. Instead we'll help our kids establish in their own homes, wherever that may be.

shangaijimmy · 30 March 2016 at 1:54PM

Accounts posting tomorrow. So exciting! The start of year 2!

Hope is not an Effective Financial Strategy

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