greent's mfw journey
Comments
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UNfortunately, yes, it really is that much We can pay it over something like about 6 months though - which is a help, I guess...
ebay finally let me on to list some things (It kept taking me back to the log on screen) 26 items on there and a huge pile of stuff still to go. I shall be happy if I get to 50 over the weekend. Am trying to concentrate on the stuff starting at more than 99p and then I can list the cheaper stuff for free anyway during the week.
Got 2 boxes of DS1 clothes from loft for DS2 - masses of stuff! Have decided that I don't really like about 4 items, so have put them aside for the next NCT sale. Have also found 4 brand new items still with tags on. 1 has definitely gone to DS2 (favourite colour) and I'm dithering about the others - I may use them for presents for cousin's children (birthdays in July)
Tax credits - you can't apply online, but I did finally get through and they're sending me an application form. At a rough look they think that we may be entitled to about £15/ week now - yeay!!!I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200 -
Mini update for May so far:
Have £65+ in my paypal account with some items ending this weekend on ebay. Will tfr to current account when it gets to £100. Have £200 sat in an unused bank account that is being transferred to my current account. Also have £100 previously transferred from paypal. So have £365 so far towards OP target of £500. I did get £30 back from people yesterday for some theatre tickets that I bought back way in March - so (as I've absorbed that and paid that CC bill ages ago) I may include that - ooh, that makes me £395 ...... getting there..... Must list some more stuff on ebay (such a drag when doing 99p listings!)
Will also get around to doing SOA.... haven't as yet and I really really should......
greent xI am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200 -
That is really shocking about the cost of your DD's braces - I really feel that stuff like that should be paid for by the state. Otherwise it discriminates against children whose parents' cannot (or don't want) to shoulder such a burden!! And that puts us back several generations... Oh well...
Well done on all your ebay transactions and listings!
QB0 -
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 575
Partners monthly income after tax....... 575
Child Benefit........................... 262
Other income............................ 40
Total monthly income.................... 1452
Monthly Expense Details
Mortgage................................ 1150
Secured/HP loan repayments.............. 0
Council tax............................. 154
Electricity............................. 65
Gas..................................... 60
Water rates............................. 36
Mobile phone............................ 45
TV Licence.............................. 12
Cable TV/internet/ landline............. 50
Groceries etc. ......................... 450
Clothing................................ 50
Petrol/diesel........................... 120
Road tax................................ 30
Car Insurance........................... 62
Car maintenance (including MOT)......... 0 both brand new with service deals
Car pking.inc in petrol(if not expensed) 0
Childcare/nursery....................... 0
Other child related expenses............ 80 Guides, Cubs etc
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings and contents.................. 72
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts (most amount if DH & the boys). 30
Entertainment........................... 50
Holiday................................. 100
Emergency fund.......................... 100
charity/ memberships.................... 20
Total monthly expenses.................. 2836
Assets
Cash.................................... 14000
House value (Gross)..................... 320000
Shares and bonds........................ 20000
Car(s).................................. 38000
Other assets............................ 3000
Total Assets............................ 395000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 101450...(1150).....4.99
Total secured & HP debts...... 101450....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 1,452
Expenses (including HP & secured debts). 2,836
Available for debt repayments........... -1,384
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -1,384
Personal Balance Sheet Summary
Total assets (things you own)........... 395000
Total HP & Secured debt................. -101,450
Total Unsecured debt.................... -0
Net Assets.............................. 293,550
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
Just done the above. In reality our income is more. That's what we draw out of OH's company monthly, but then we will take 1/4ly dividends. On accountants advise we're meant to keep this as low as poss to maximise our tax credits (didn't get before - OH's gross salary was about 70k) and use savings and then next year increase drawings/ dividends.
It also doesn't take into account the BTL property. That covers its mtge and a little more but I've earmarked all of that this year for sols fees to extend the lease and do some redecoration.
We're also expecting a tax bill of between 10-15k for OH when his tax return is done (a redundancy payment last year was paid with basic rate tax and he was a higher rate payer)I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200 -
Hi GreenT
Your building insurance looks quite high at £72 pcm. I'm assuming this includes contents as well, but even so... Mine was about this level before I focused my MSE attention on it, as I'd simply been renewing with my existing provider.
By changing to the Halifax, I managed to reduce my premium to £42 pcm - and get £50 cashback. I know that this is still quite steep in comparison with most other posters' on the board (mainly a function of where I am and getting the cover I wanted), which is why I've picked out you £72 as an area for potential reduction!
QB0 -
Hi QB-
yes it does include contents and is high due to having 4 claims in 14 months..... When it's up for renewal (and we have had a claim free year!!) I will be shopping around. It used to be £38/mth for the 2I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200 -
Its amazing looking at other peoples figures and savings, people having money here there and everywhere lol
well doneMPs left feb '08 276- Dec 13 36 :T MB Jan 10 ~ £82,377 Dec 13 ~ £29987
EMFD was Feb 32 :eek: NOW Dec 2013 its Dec 2016
MF new target Dec 16 REACHED!! :j0 -
Hi Pammy -
savings due to OH being made redundant (twice in 7months!) with a large payout the first time (nothing the 2nd) and money put aside for tax bill. Shares were SAYEs in previous employer - a bank! Sadly worth 1/5th of what they wereI am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200 -
DD(aged 12) has been told she needs braces for her teeth but isn't eligible for NHS funding (Needs to be a '7' to get funding, she's a '5-6' That'll be £1675!!! Think that might slow up my OPs
just a personal response - make sure she actually needs the braces! i was told at about that age that i needed braces, but i was really against getting them and my parents decided to wait and see. a few years ago i got two veneers to 'hide' my slighty crooked front teeth, which were pain free and less expensive!0 -
Unfortunately it's a bit more than just crooked teeth
Anyway, I have just discovered that if I overpay an extra just-under-£700 before the end of June I will be under £100k This is now my target to do. Whilst I have that money and could do it now, DH has been told that his contract is unlikely to be renewed and may even be up by July time (eek!!) so I want to make it from money saved/ obtained, rather than just from savings (it's logical to me, honest!!) Have £400 so far physically in the bank :-) Have £100 waiting to track through on quidco. WIll see what else I can re-jig and how quickly I can do it. Have lots of stuff still to list on ebay at 99p start prices, but that's tedious (however, needs must, and all that!)
Anyway, this has given me a little challenge and focus - was beginning to waver a littleI am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £200
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