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  • FIRST POST
    • edinburgher
    • By edinburgher 30th Oct 17, 4:22 PM
    • 11,530Posts
    • 61,649Thanks
    edinburgher
    The Edcawber Principle
    • #1
    • 30th Oct 17, 4:22 PM
    The Edcawber Principle 30th Oct 17 at 4:22 PM
    I think I promised a new and improved positive diary earlier on in the summer

    I'll try my best to keep it short and sweet, (unlike my credit card statements). Cutting a long story short, after renovating the house and an accidental car purchase (hey, it could've been a house!) we are probably better candidates for DFW

    We're now left with a much more relaxing house (we just finished our bedroom), a new car and £20,000 in credit card debt

    The new job goes fairly well, all things considered and our budget is starting to balance on a month-to-month basis. Basically I've said yes to everything, which is lovely, but immature. Mrs E realises the lie of the land and is supporting efforts to get back on an even keel. I'm eb@ying, saving cashback and making overpayments every Monday.

    DD and Mrs E are doing fabby, DD is the apple of our eye and remains chatty, affectionate and madcap
Page 74
    • Karmacat
    • By Karmacat 28th May 19, 8:25 AM
    • 32,430 Posts
    • 191,725 Thanks
    Karmacat
    I was a conceited little !!!! growing up and what I remember most about my incredibly privileged private education was feeling poor compared to my peers. I didn't see the sacrifices my parents were making, only the shame of patched blazers, non brand name clothing and luxury holidays we never took.
    Originally posted by edinburgher
    Most parents keep that stuff away from their kids on purpose! And as for private schools - my sister taught in one private school or another for her whole career, and the children usually have a very different frame of reference from most of the population - thats just how it is. Its what they *do* with that, as they grow older, that matters, attitude is all, and we know where you stand on that

    Ridiculous I know, but it has made deep marks on my psyche. Aside from the exhaustion , one of the main reasons we haven't rushed to have a football team is because I'd rather raise one child in relative material comfort than several in dire straits. We will need to strike a balance, but are watching siblings live life across the materialism/number of kids spectrum and to date I wouldn't swap with any of them. I think we've reached a nice level, I'm not wanting to aim "higher", but I'm not willing to go much lower. I think I differ from many MFWs in that regard - I wouldn't say we're thrifty, but I also don't consider us spendthrifts
    Then you've got it right for you and yours, Ed, which is exactly what mfw is really about, not ultimate thriftiness but measured overpayments in tune with family life
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    • beanielou
    • By beanielou 28th May 19, 9:33 AM
    • 67,099 Posts
    • 303,880 Thanks
    beanielou
    Sounds like a great balance to me.
    Great going on the cc payments.
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • slowlyfading
    • By slowlyfading 29th May 19, 9:06 PM
    • 13,041 Posts
    • 75,262 Thanks
    slowlyfading
    One of the main reasons we haven't rushed to have a football team is because I'd rather raise one child in relative material comfort than several in dire straits. We will need to strike a balance, but are watching siblings live life across the materialism/number of kids spectrum and to date I wouldn't swap with any of them.
    Originally posted by edinburgher
    Interesting to read this. We have two kids and I'd love another (much to Mr SF's dismay ) and we are not in dire straits but we don't earn a lot either. As an only child, I'd have hated to only have one child; I remember the loneliness and the pressure because I was the only one. Different perspectives on what you can offer, I suppose
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / In pursuit of FIRE
    • choccielover
    • By choccielover 30th May 19, 6:50 AM
    • 404 Posts
    • 1,382 Thanks
    choccielover
    DD is an only child and will remain so.

    Despite us being in a solid position financially I have the same concerns about being able to do all the same things for 2 that I can do for 1. Our choice but she does go to private school and paying that x2 would be life changing for us and selfishly I donít want to make those cut backs

    My DH was an only child, and happily so.

    Itís horses for courses and whilst I agree money isnít everything, I want to give DD everything I can (whilst trying not to raise a spoilt self entitled brat...itís a fine line )
    • Suffolk lass
    • By Suffolk lass 30th May 19, 8:24 AM
    • 3,312 Posts
    • 29,433 Thanks
    Suffolk lass
    DS is an only "child" - not spoiled, never was a brat - just a bit of a hippie who is not materialistic and works as little as possible with no regard for his financial security or future. No sense of entitlement but he has never felt poor - we kept our sacrifices from him - nothing on the scale of my parents' struggle but we elected to send him to a prep school until 11. Love him to bits and he is a gentle, generous young man (with good, straight teeth, thanks to the Child Benefit). What can I say? it is all the choices we make
    Save £12k in 2019 - #68 target is £7k £8,766.30 after Sep
    OS Grocery Challenge 2019 target £3k - 57.28% spent after Sep
    Mortgage Free Wannabes 2019 #37 108.23% £43,292.24 including Sep - reducing now to avoid fees
    MFIT T5 target to clear our mortgage completely (£59,998) Q2 £30,085 or 50.14% paid
    My DFD is here
    • greent
    • By greent 30th May 19, 7:25 PM
    • 8,199 Posts
    • 83,306 Thanks
    greent
    My uncle was the youngest of 6 and chose to have only 1 child. My mum (the eldest) also chose to only have 1. 2 of her siblings had none. As an only child I've chosen to have 4 (ok - no 3 was a surprise!) - I always wanted at least 2 - I felt I missed out on a sibling and the possibility fo nieces/ nephews and cousins for future children (I do have a half-sister but we didn't meet until we were in our 30s/ 40s) Yes, we'd have a very different life if we'd stopped at 2 - but I prefer having the smaller 2 to having had more money/ more holidays/ newer cars/ being able to retire in a couple of years as opposed to in 10 years etc. Hopefully none of them feel like they've missed out on 'stuff'

    Everyone is different
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £3757/£5K
    Net sales 2019 £532.58/£500
    • edinburgher
    • By edinburgher 3rd Jun 19, 9:20 PM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    I have been paid a few hours early - thank goodness! I think we tried to stretch our budget too far in May and failed miserably. Our savings are almost entirely depleted and will need to be topped up with my 13th wage. It got so bad that I forgot to transfer myself money from savings and our mortgage DD may have bounced for a few hours

    Still:
    1. £832.63 of CC debt repaid - making it our single biggest line item for the month
    2. A memorable 4th birthday party for DD
    3. Holiday costs for our "free" trip (3 days to go)!

    June is shaping up to be far less dramatic, but a few positives so far:
    1. Holiday spending money covered by money what we saved up from our pocket money like big people
    2. £87.29 paid off CC so far
    3. £30 of Premium Bonds bought

    Right - off to bed
    • beanielou
    • By beanielou 3rd Jun 19, 11:15 PM
    • 67,099 Posts
    • 303,880 Thanks
    beanielou
    All good actually.
    Enjoy your break
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • edinburgher
    • By edinburgher 14th Jun 19, 4:04 PM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    Back from hols. Hotel was nice, but air condititioning wasn't on and it hit 35 on a couple of days. Non-Maltese staff friendly enough, Maltese staff offhand and disinterested. Wee one got a bit bored and miserable towards the end of the trip (all inclusive gets dull and she had a heat rash/difficulty sleeping). The bit of Malta we saw concretey and uninspired (I'm sure it would have been different if we'd made it to Valetta or similar).

    Only put on a couple of pounds, but straight on the post-holiday diet and not enjoying it on day 1!

    £453.91 paid off CC (minimum payment and our FIT money of c. £175).
    • teapot2
    • By teapot2 14th Jun 19, 8:40 PM
    • 2,520 Posts
    • 10,842 Thanks
    teapot2
    Sorry it wasn't the best holiday experience - back home to Scottish weather
    • beanielou
    • By beanielou 14th Jun 19, 8:48 PM
    • 67,099 Posts
    • 303,880 Thanks
    beanielou
    Great news on the CC payment.
    Sorry to hear that the holiday wasent the best.
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • edinburgher
    • By edinburgher 15th Jun 19, 8:53 AM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    Thanks guys, you win some and lose some when it comes to holidays

    £5.52 paid off the CC and 4lbs lost after diet day 1 - doubtless just water weight.

    Two last minute Father's Day presents ordered, one of which will be late It is hard to be that bothered when I only hear from one of the fathers every quarter if I'm lucky...
    • Karmacat
    • By Karmacat 15th Jun 19, 4:03 PM
    • 32,430 Posts
    • 191,725 Thanks
    Karmacat
    Shame about Malta, Ed - I'd wondered about it for September.


    Good amounts paid off the cc though. And a good start to the diet.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    • Suffolk lass
    • By Suffolk lass 16th Jun 19, 6:35 AM
    • 3,312 Posts
    • 29,433 Thanks
    Suffolk lass
    Welcome back to our great summer! Great CC payments again - What is the FIT fund you reference (Fully Independent Traveller?)?
    Save £12k in 2019 - #68 target is £7k £8,766.30 after Sep
    OS Grocery Challenge 2019 target £3k - 57.28% spent after Sep
    Mortgage Free Wannabes 2019 #37 108.23% £43,292.24 including Sep - reducing now to avoid fees
    MFIT T5 target to clear our mortgage completely (£59,998) Q2 £30,085 or 50.14% paid
    My DFD is here
    • pavlovs_dog
    • By pavlovs_dog 16th Jun 19, 7:16 AM
    • 9,832 Posts
    • 24,107 Thanks
    pavlovs_dog
    believe it is feed in tariff (the money Ed gets from selling his electrickery back to the national grid)
    know thyself

    Nid wy'n gofyn bywyd moethus...
    • edinburgher
    • By edinburgher 16th Jun 19, 8:09 AM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    believe it is feed in tariff (the money Ed gets from selling his electrickery back to the national grid)
    Originally posted by pavlovs_dog
    Yup! Full marks to Pavlov's

    £5.32 paid off CC.

    Ps. You might laugh S_L, but I actually missed the rain

    Pps. Another 2.4lbs lost
    Last edited by edinburgher; 16-06-2019 at 8:42 AM.
    • edinburgher
    • By edinburgher 17th Jun 19, 6:33 AM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    Back to work

    £82.80 paid off my CC, I will be debt free.

    No weight loss today - early plateau? Will check my macros
    • Suffolk lass
    • By Suffolk lass 17th Jun 19, 9:01 AM
    • 3,312 Posts
    • 29,433 Thanks
    Suffolk lass
    You will !

    You have just lost almost half a stone in two days - your body might go into starvation mode (metabolism slow-down to preserve itself) - what diet are you following?

    Of course it is Feed in Tariff (doh!)

    I am not going to miss rain or wind here now - I have three vases full (I mean full) of crimson roses and peonies that were either hanging down off the climber or flat on the ground with the impact of both - poor things, it was an act of mercy to bring them in. However fleetingly, they look fantastic and the roses smell gorgeous
    Save £12k in 2019 - #68 target is £7k £8,766.30 after Sep
    OS Grocery Challenge 2019 target £3k - 57.28% spent after Sep
    Mortgage Free Wannabes 2019 #37 108.23% £43,292.24 including Sep - reducing now to avoid fees
    MFIT T5 target to clear our mortgage completely (£59,998) Q2 £30,085 or 50.14% paid
    My DFD is here
    • edinburgher
    • By edinburgher 17th Jun 19, 10:51 AM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    I suppose diet is somewhere in between low carb high protein and keto. It was intended as a boot up the bum to restart my good habits - I've been feeling a bit stymied of late as weightlifting is preventing me from losing weight despite sticking to a calorie restricted diet! I appreciate that muscle weighs more than fat, but I started weightlifting to lose weight, not keep it the same
    • beanielou
    • By beanielou 17th Jun 19, 4:10 PM
    • 67,099 Posts
    • 303,880 Thanks
    beanielou
    You will be debt free
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
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