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  • FIRST POST
    • mfmaybe
    • By mfmaybe 22nd Jan 14, 8:38 PM
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    mfmaybe
    Paying the car tax via EBay, and other shenanigans.
    • #1
    • 22nd Jan 14, 8:38 PM
    Paying the car tax via EBay, and other shenanigans. 22nd Jan 14 at 8:38 PM
    So the title will become obvious later, but I figured I need a diary. It's my first. It is mainly to keep me focused but maybe someone will read it too. Here's hoping!

    Stealing from another diary, I have decided my debts need paid off by my 40th, which is in 7ish months! It might not be completely achievable but I'm certainly going to try.

    First about me. I have a lovely husband, we live in the country with a few cats and a couple of horses. These latter fluffy things are of course the reason for permanent poverty. We certainly don't have a cheap lifestyle, the mortgage is big, we take nice holidays and have nice cars. We can manage it all quite comfortably (both of us have well paid jobs) but I'm not very disciplined about money and have let it get a bit of a bother. That said I'm not a compulsive shopper either, don't buy loads of clothes, don't smoke, Don't go out much etc. My husband isn't in debt and has some savings but neither of us are as comfortable as we should be. On the down side, we've spent a lot of money on IVF in the last year, will be doing so again this year, and our house (old and cold) really needs a few things done. We also got married just over a year ago which cleared out all my savings and that plus the IVF tipped me over the edge. So financial discipline is certainly needed.

    The debts:
    OD 4100
    Family member 5k
    Credit card 1600 on 0%

    All of the above are my debts, so not my husbands responsibility.

    We have assets. My car would cover most of my unsecured debt. I have 3k in an ISA. We have some joint savings. I own a rental flat with a very good LTV. My sister is in no rush for her repayment. So there is no panic stations. But no excuses either. So 7 months it is....

    Wish me luck
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
Page 38
    • mfmaybe
    • By mfmaybe 16th Apr 18, 2:25 PM
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    mfmaybe
    Thanks for the blog, a great read. What a beautiful setting.

    What I find with our build (all be it not as big as yours) is that it's a bit chicken and egg, you don't know how much it's going to cost and although you brief an architect, they aren't actually pricing it and also seem to want to add some wow element and then you have to get it priced and it all just takes ages....

    To be fair, our design process was quite straight forward, the thing now taking time is our architect has gone awol so we may have to do submissions ourselves. Looking forward to hearing about your other quotes.
    Originally posted by PurpleFairy26
    Thanks PF. I only started it because I thought it would be fun and useful to record the process; if a few people read it and enjoy it that's great, but I'm not planning on being famous or anything . Hopefully it will get more interesting as it goes on, as there will be real stuff happening, and more photos and things. I am going to research time lapse for when the timber frame goes up. We have a go-pro but not sure if just the iphone is best.

    How annoying about your architect going awol .

    Ended up spending a bit of money this morning, buying a few more things from my friend's shop that is closing. Bargains were too good to miss, but she was selling them below what it cost her. Made me so sad (and I tried to persuade her to at least cover her costs). Retail is a pretty tricky business, no mistake.

    I was reading jwil's diary and how she works out her mortgage PAD overpayments based on daily mortgage interest. Although we don't have a residential mortgage right now, and might not on the new build, I do still have the BtL. I've never focussed on overpaying as it was tax deductible at 40% for me; but now that's not the case, so there is reason to overpay. Once I stop work, it would be useful to have the flat income as profit. So I need to think that through. Money priorities right now, setting aside the funds for the newbuild, need to be:

    Get ahead of Amex again, before I stop earning a salary.
    Top up all the annual bills pots as much as possible.
    Start paying down the BtL.

    I should be able to do the first next pay month, because my livery bill will go down again. I'm off to tweak next month's budget now, to see how much I can do on the second one. The third one might have to wait a bit longer.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 17th Apr 18, 1:50 PM
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    mfmaybe
    I've been re-thinking what I said about my priorities. I've decided to put any extra income to the BtL. It will be dribs and drabs - I've got 6 coming over from TCB, but I feel like I need to squeeze my current account as hard as I can, to prepare myself for not earning!

    So next month, so far, looks like this:
    Surplus predicted before monthly card payments: 82.
    Amex payments 505 less 100 in annual bills less 28 set aside. Net 377.
    Other card is a scary number but stripping out the planning application fee (comes out of savings), it's 600ish. 256 is car costs - covered from annual bills. 280 is the vet bill for the cat. Not covered. My haircut is mainly covered - so about 300 to find for that one.
    So 82 less 377 less 300 is 595 to find. Yikes. I reckon I can squeeze about 110 out of the budget, mainly because I reckon I can manage without the farrier. There's 380 in predicted card spend which I won't be transferring. So still about 100 short. Really this means I can't afford to put money into the annual bills as planned. There are a couple of candidates for this - not ideal but probably ok. The problem is, this doesn't get me any nearer catching up on the cards! But next month the horse costs go down so that's my solution for that one.

    Obviously the whole point of writing that down was for my own purposes - don't expect anyone else to keep track of it all . There are possible headwinds - I'm still not sure of the size of one of my vehicle bills; we are away next week and the budget can often get away with us; I have a night out, which is unusual. But will keep posting and confessing
    Last edited by mfmaybe; 17-04-2018 at 3:23 PM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 17th Apr 18, 3:23 PM
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    mfmaybe
    Just set up the mortgage as a payee so I can make overpayments. Crucially, have also deleted the old residential mortgage from my payees, so I don't pay that by mistake!
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 18th Apr 18, 8:54 AM
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    mfmaybe
    A few lifemin things to do today:
    Collect prescriptions DONE
    Pay Amex DONE
    Check banking DONE
    Log in to work and download payslips
    Research phone tariffs. (Managed to inherit an iphone 6 but my tariff doesn't support 4G!)
    Update blog
    Call groundworks people
    Chase on emails I sent last week (also re groundworks)
    Email lawyer to issue lease on flat. DONE
    Make overpayment on mortgage if TCB payout is in

    Waiting for phone to download apps, which is taking forever.
    Last edited by mfmaybe; 18-04-2018 at 2:58 PM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 18th Apr 18, 3:00 PM
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    mfmaybe
    Well day 1 of the pay month and I'm 10 down on budget already . I included my payrise, but think I included the gross, not the post tax amount. So I got less than was in my budget. Not an auspicious start....

    Also TCB money not in yet so haven't made my overpayment yet. Itching to do this.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 18th Apr 18, 6:48 PM
    • 361 Posts
    • 2,365 Thanks
    brizzlegirl
    Keep on trucking...I think you use YNAB? Or perhaps a spreadsheet....you can always tweak. Its early enough in the month to claw something back...maybe from groceries?
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July] 2018 Income Goal 88/750 October Goals: AFDs 2/25; Decluttering 10/60; LSDs 02/10; NSDs xx/10 Exercise xx/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 19th Apr 18, 12:52 PM
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    mfmaybe
    A spreadsheet, but using the same basic principles as YNAB I think.

    Had my night out last night. Budgeted 30. Spent 20 plus a 6.70 train fare, so a few pounds clawed back there. Hope I don't have any other nights out in the whole of the next month

    But in exciting news, I just made my first overpayment to the mortgage. I took a screenshot just in case it goes awry - it doesn't show straight away. It was only 5.90 - a little less than 2 days interest. The mortgage is quite small, 32,115 at last count, but it's a BTL so not that competitive at 3.99%. The problem always was that fees meant remortgaging wasn't actually worth it! An absolute ideal would be to make enough overpayments a month to cover the interest, but I'm going to take the Every Little Helps approach.

    I am going to have to spend money today though. Nursery called to say DS' sunscreen was finished, so I need to get more.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 19th Apr 18, 4:29 PM
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    mfmaybe
    Sigh. Headwinds. Have a tenant lined up for my flat; but rules have changed and I need to get all sorts of electrical tests and energy certificates and stuff. About 250, plus I have a funny feeling they might say I need to upgrade the smoke alarms. It's wired to the mains but not one in every room (flat is tiny). Plus the legal fees for the lease have gone up - so every penny of the first month's rent is absorbed with new costs. Still, so far I'm still paying 40% tax so at least I can offset some of it.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 20th Apr 18, 12:17 PM
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    mfmaybe
    It's all going off here. Trying to sort issues with 3 separate properties. The rental flat legalities - in hand, I think, though I need a confirmation of appointment time which I haven't received yet. Then our current rental had its boiler service today. The engineer discovered our meter isn't working at all, so technically the boiler isn't supposed to be used until that is fixed. Have messaged our supplier. Their customer service is usually not too bad and perhaps we've been getting some free gas . And then on the new build there is another issue we need to get resolved for the planning. Shouldn't be a problem but needs effort and money spent. Sigh.

    The lorry has now had its MOT, too, and has been collected, but he hadn't had time to do the bill so that's still a financial unknown. They didn't mention anything horrendous though. I've got a cap in my head of 500 (the test alone is 100); and hopefully a good bit less. I have that much set aside.

    On a cheerier note, got 2 loads of washing dried on the line yesterday, and put the sheets on early this morning; they are now out there. The bleaching power of the sun is so impressive too. DS had orange stains on a white top; several loads of persil later they were still there. 2 hours on the line yesterday, all gone. I so wish we had more days like this.
    Last edited by mfmaybe; 20-04-2018 at 7:52 PM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 26th Apr 18, 6:56 AM
    • 361 Posts
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    brizzlegirl
    Great to hear you getting through stuff despite the challenges of multiple properties! Have a good day x
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July] 2018 Income Goal 88/750 October Goals: AFDs 2/25; Decluttering 10/60; LSDs 02/10; NSDs xx/10 Exercise xx/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 30th Apr 18, 7:49 PM
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    mfmaybe
    Thanks Brizzle. Any progress is good!

    We have been away so avoided too much digital stuff, which was lovely, but I'm out of touch. Money spends while away weren't horrendous. The fuel will be covered as DH had to visit a client on the way so can claim expenses. Accommodation was free. So just the slight extra on food that always happens; and a few pounds at the local craft market. Bought a couple of jigsaws at the charity shop before going, but didn't have time to do them. Also had a small payment to the catsitter but I've covered that from my "horse holiday" pot. I need to add up the food bill but went to the shops today and it was only 35 so it might balance out.

    The big news though is that my redundancy is going ahead. For reasons that don't matter, this is actually a good thing for us. We are however going to become a single income family for a while, and this means big changes to how we manage our money. Really, as a couple we've never stuck to a budget. So we are trying to get a few good habits in early. Easing off on the impulsive online purchases. Much less booze, especially during the week. Meal planning and shopping online to check we are within budget. Nothing revolutionary, just some better habits.

    Right now though, there are money wins and losses. Still don't know what the lorry bill is (went up today to check). My HB income for the flat is for some reason paying me less now, so I'm nearly 40 down this month. Have costs to get it compliant with new legislation, etc. But the wins are, I've managed to do the lease myself, saving a fair whack of costs. And I should end up with double income this month. HB is paid in arrears but my new tenant will pay me in advance. This should help fill my shortfall, giving me a chance to catch up on the Amex a little. We are also going to take DS out of nursery for some of his hours, as I will not have to go back to work. And horses' costs will go down next month too.

    All that though means I have a ton of stuff to do
    Phone GP *2
    Collect prescription
    Chase on lorry bill
    Arrange nurse appointment
    Send paperwork in to office
    Call re electrical testing in flat
    Chase on EPC for flat
    Pay for electrical testing in flat
    Email nursery to cut hours
    Follow up on lease if not returned

    Umm that's enough for now. Better go and cook tea and have a think about what else I've missed.
    Last edited by mfmaybe; 02-05-2018 at 9:29 AM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 1st May 18, 10:21 AM
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    mfmaybe
    Ugh. This morning is proving expensive. I've to have some remedial electrical work done in the flat at a cost of 500. Some things I understand, but apparently I need a further smoke alarm and a heat sensor. It's a tiny one bed flat, so you aren't more than 5 paces from the existing smoke alarm wherever you are; but that's the law now so I have to comply.

    Anyway I've instructed the work and also emailed nursery about DS' hours so the list is progressing.

    It's a nice day so away to go and wash a pair of curtains so I can get them on the line; and also need to make soup at some point.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • lucielle
    • By lucielle 1st May 18, 5:35 PM
    • 8,060 Posts
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    lucielle
    All sounds like its going at your end!
    L
    Total Debt Dec 07 59875.83 Overdrafts 2900,New Debt Figure ZERO !!!!!! 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
    • mfmaybe
    • By mfmaybe 1st May 18, 5:57 PM
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    • 3,712 Thanks
    mfmaybe
    All sounds like its going at your end!
    L
    Originally posted by lucielle
    Yes, it's just as well I am not trying to fit in work as well
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 1st May 18, 6:19 PM
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    mfmaybe
    Made some progress on the list.

    Phone GP *2 DONE
    Collect prescription DONE
    Chase on lorry bill DONE
    Arrange nurse appointment
    Send paperwork in to office
    Call re electrical testing in flat DONE
    Chase on EPC for flat
    Pay for electrical testing in flat DONE
    Email nursery to cut hours DONE
    Follow up on lease if not returned DONE

    Also washed the curtains, but haven't made the soup. I might not need to post the paperwork into the office as I am meeting my boss next week. So only a couple of things to carry over. Next up is a new blog post.

    In money news, cutting nursery hours has somehow made the bill higher this month . I'm being told this is because I pay an average annual amount, but this month will be done on days. I think it might just be because it's a long month; but I kind of want to do the maths to prove it to myself. Logic tells me it can't be right.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 1st May 18, 6:49 PM
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    mfmaybe
    Updated my signature. The CCRF wasn't going anywhere. However, I thought it would be good to keep track of paying off the BtL mortgage. In addition, have set myself targets for Alcohol-free days and No-spend days. The former is stolen from Brizzle, and is part of my commitment to budgeting . The latter will be any day where I don't hand over my debit card, credit card, or cash (or online shopping). It won't count against me if I pay a bill (like today, where I paid the bill for the electrical testing on the flat).
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 2nd May 18, 9:38 AM
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    mfmaybe
    I slept much better last night than I've done in a while - courtesy of digging out an eye mask to save the 5am bright sunlight giving me a splitting headache (I need dark to sleep but our rental doesn't have blackouts). Therefore I have a bit more energy to get stuff done today, albeit I went back to bed with a cup of tea and my ipad after DS went to nursery

    In MSE news, interest has gone in to our savings accounts. I'm tempted to use the interest I'm earning on my payout to offset the interest I am paying on the BTL. It would essentially double the speed at which it is being paid down. I've another thought on this one too though.

    Meanwhile I need to open a second account as we are holding too much cash in one place. This is going to be the Clydesdale B account. I was going to do TSB and may still in the future - but perhaps not right now . That's on today's agenda. DONE

    A few other things I want to get done, in no particular order
    Start packing up winter clothes DONE
    Start packing up other bits and bobs DONE
    Try to find DS' rainsuit which is mysteriously missing. DONE
    Collect medicine DONE
    Nurse appointment DONE
    Make soup DONE
    Defrost something for tea. DONE
    Arrange meetings on site for Friday

    Got to stop now as cat is trying to type and it's too difficult to fight her off.
    Last edited by mfmaybe; 02-05-2018 at 6:09 PM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 2nd May 18, 9:07 PM
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    brizzlegirl
    All sounding good your end MFM and SO pleased youre getting VR if thats whats best for you and your family. Keep on plugging away. You will have spendy months and less spendy months as you ease into being a single income family but am sure its manageable.

    I am doing OK on the alcohol free days, maybe by drinking more tea
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July] 2018 Income Goal 88/750 October Goals: AFDs 2/25; Decluttering 10/60; LSDs 02/10; NSDs xx/10 Exercise xx/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 2nd May 18, 10:26 PM
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    mfmaybe
    Thanks Brizzle. Updated sig as another one today. Not a NSD though, as needed milk and a couple of bits and bobs.

    Quick bedtime brainstorm on to-do list for tomorrow

    Pick up keys for flat DONE
    Pack flat paperwork DONE
    Pack all bags for weekend DONE
    Pack snacks/food for weekend incl soup DONE
    Nursery/horses DONE
    Blow up car tyre before we go
    Key to catsitter
    Money for catsitter DONE
    Contact Scottish Water re Friday
    Cash for farmer
    Take birthday cards with us plus gift for friend DONE
    Decide on pudding for Saturday night DONE
    Message tenant to arrange key handover
    Chase on EPC DONE, DROP KEYS
    Chase on electrical work DONE
    Last edited by mfmaybe; 03-05-2018 at 3:19 PM.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 7th May 18, 9:18 AM
    • 361 Posts
    • 2,365 Thanks
    brizzlegirl
    Hope youre having a great weekend. Picture in the paper this morning of a beach cricket match in Fife in glorious sunshine and I thought of you and Beanie and wondered if youd got your flip flops out yet
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July] 2018 Income Goal 88/750 October Goals: AFDs 2/25; Decluttering 10/60; LSDs 02/10; NSDs xx/10 Exercise xx/15 12k steps per day pls Aiming to be a true Frugalista!
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