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  • FIRST POST
    • VelvetFreak
    • By VelvetFreak 10th Jul 19, 3:14 AM
    • 308Posts
    • 1,138Thanks
    VelvetFreak
    VelvetFreak is saving up to buy a house!
    • #1
    • 10th Jul 19, 3:14 AM
    VelvetFreak is saving up to buy a house! 10th Jul 19 at 3:14 AM
    Shiny new diary! Yay!

    A bit about me: I am 25 years old, living in Australia. I own a tiny one-bedroom unit (well, the bank owns it, because I have a mortgage ). My boyfriend moved in with me a few months ago.

    I recently reached a big goal, which was to have $10,000 saved in an Emergency Fund. So now I am onto the next thing, which is saving to buy a house. My goal is to have $80,000 saved before I turn 30 (which is in about 4.5 years, December 2023 )

    At the moment, I am able to save $400 per fortnight out of my wages, and my boyfriend pays $200 for “bills” which I am able to save because I paid the same amount in bills since before he moved in, so I see it as “extra” money that I wouldn’t have otherwise. I hope that makes sense. Our finances are separate at the moment but I suppose we will combine things more over time. I also plan to save extra money that I get with raises, bonuses, etc.

    I am also wanting to do some small renovations in my unit to make it nice for us to live here for the next few years. I will find the money for that somewhere.

    I recently sold a mattress and furniture that I had stored in the garage, so we are starting the House Savings off with $100

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
Page 6
    • VelvetFreak
    • By VelvetFreak 11th Nov 19, 10:48 AM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Hi Cherry, thanks for checking in. The fires are about an hour away from me, I don't think they'll make it to where I live, but you never know. The sky is grey/brown from all the smoke and dust. Wish it would rain. It's so dry and the wind is so gusty, no wonder everything is on fire.

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • Cherryfudge
    • By Cherryfudge 11th Nov 19, 11:34 AM
    • 3,561 Posts
    • 22,970 Thanks
    Cherryfudge
    Wow, I wish I could send our rain to you! You need it and we need to dry out. I'm an hour or so north of the worst floods but the ground is saturated here.

    I hope the fires stay clear of you and you get a break in the weather.
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
    • VelvetFreak
    • By VelvetFreak 13th Nov 19, 10:11 AM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Yet another water-related incident has occurred.
    The cat has tipped over a vase on the kitchen counter and put water everywhere. There was a crack in the countertop already and water has soaked into it and now it is swelling up and will need to be replaced (not urgently, but I imagine it will only get worse over time). I'll also have to replace the tile splash back and might as well get a new sink while I'm at it. That'll be another $1,000. .

    My friends came over last night and now we have a game plan for the bathroom (and the laundry!) renovation

    I don't even want to think about money at the moment. I have enough in savings to do what needs to be done, but I am getting terribly sick of adding things up and stressing about it. So I will not think about it anymore, I will just pay for things as needed.

    If anything else breaks in this house, I am going to scream so loud that you people will hear me all the way from England.

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • Cherryfudge
    • By Cherryfudge 13th Nov 19, 10:18 AM
    • 3,561 Posts
    • 22,970 Thanks
    Cherryfudge
    I wondered what that sound was!

    Maybe this is a case for dipping into the emergency fund? Or can it be included in the insurance claim for the bathroom? (Sorry, I've forgotten if you actually are claiming for the bathroom damage?)

    It's certainly a pain to have two areas go in such a short time. Nice that you and your friends have a plan for the bathroom renovations, though.
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
    • VelvetFreak
    • By VelvetFreak 13th Nov 19, 10:48 AM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Cherry, I did get some money from insurance for the bathroom ($2,265 - to fix the wall, as that's the only thing that was actually damaged).

    I'm expecting the bathroom, laundry and kitchen to cost about $10,000 all up I have around $8,700 in savings at the moment, + the $10,000 Emergency Fund, which I will dip into if needed, so it will be okay. I still can't believe I'm going to spend so much money all at once.

    It's quite scary, as my unit isn't really worth much (being a 1bedroom), so I am overcapitalising a lot. I hope I don't need to move anytime soon, because I won't be able to get my money back if I sell. I will have to keep it and rent it out. But the work needs to be done and I might as well enjoy living in a nicely renovated place

    I'm trying really hard not to stress out, but the logistics are quite complicated

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • Cherryfudge
    • By Cherryfudge 13th Nov 19, 10:59 AM
    • 3,561 Posts
    • 22,970 Thanks
    Cherryfudge
    It's a big spend, yes, but if you are planning on staying longer term you might as well have something you really like. The plus side is that if and when you do sell, you are more likely to get a buyer in good time, and also it would be more rentable if you chose that option.
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
    • VelvetFreak
    • By VelvetFreak 15th Nov 19, 11:38 AM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Happy Friday! It's been a long week. I've been powering through my study as there's not much going on at work so I might as well do it. The subject doesn't finish until 2nd Feb but I'm hoping to get pretty much all of my assessments completed before I go on Christmas holidays so that I don't have to worry about it and can enjoy my time off.

    The last couple of weeks have been a bit of a struggle for me mentally . The bathroom dramas have been stressful and in addition to that, exMrVF has been texting me nonsense about wanting to get back together, how he will change, etc. It's clear that he is having a miserable time being by himself, and he is only saying these things because he is in a bad place, not because he actually means any of it. I am feeling quite hurt that it has taken this long for him to realise that he treated my quite poorly and has done the wrong thing in many ways. My friend ended up having to come over and make me block his number as it was causing me too much emotional distress.

    I had been dealing with the breakup really well, but in the last week or so it has really hit me hard. I really did think that we would stay together and make it work. Blocking his number really hasn't made me feel any better, but at least now I can't be tempted to reply with nasty comments.

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • Cherryfudge
    • By Cherryfudge 16th Nov 19, 11:55 PM
    • 3,561 Posts
    • 22,970 Thanks
    Cherryfudge
    I'm sorry it's not going well. Would it help to write it all out, possibly as a 'letter' to him that then doesn't get sent?

    Well done on getting so much study done.
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
    • VelvetFreak
    • By VelvetFreak 20th Nov 19, 9:34 AM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Hello diary

    I'm happy to report that I'm feeling a lot better this week. I have been trying to keep busy which seems to help my mental state a lot. Nothing to report money-wise. I've decided to stop worrying about money until the bathroom renovation is done and then I will start from scratch. Had a look at tiles etc on the weekend but haven't made a final decision on what I want. My mum is coming to visit this weekend so I will drag her to the shops and get her opinion on things.

    I had a relapse with the chocolate This is my second day not eating any and I have a terrible craving for it. It really is very annoying.

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • savingholmes
    • By savingholmes 24th Nov 19, 8:35 PM
    • 10,212 Posts
    • 21,295 Thanks
    savingholmes
    It does sound like resolving the bathroom is essential. You can still make a decision on how much of a budget to commit to it though.

    I was drooling over new bathrooms yesterday but walked away. DH and I have however invested in 3 towel rail to be installed in each bathroom - but they are within a budget we set ourselves.
    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
    • VelvetFreak
    • By VelvetFreak 29th Nov 19, 11:17 PM
    • 308 Posts
    • 1,138 Thanks
    VelvetFreak
    Another week gone. It was a busy one, as always.

    I've finally made progress on the bathroom renovation. I've purchased/ordered all of the things that I need. The renovation will start on Tuesday and I'll be staying with a friend for a couple of weeks until it is done. Am very received to finally have this organised.

    In other news, I purchased a robot vacuum cleaner and it is the best thing ever! It even mops! My floors have never been cleaner

    Am feeling a bit lost today as there's lots of things I *should* be doing but I don't want to do any of it. I *should* paint the ceilings in the bathroom and laundry so that it's done before the new tiles etc are put in, and I can splash paint everywhere and it won't matter, but I don't think I'm up to it. I think I will leave that until Christmas break and I will just have to be careful and use drop sheets so I don't get paint on all the new things

    I don't feel like leaving the house today but at the same time, I am feeling quite bored, so not sure what to do. I might pop to @ldi as I need to get buy dishwasher tablets. I also need to find a mirror for the bathroom so I might also pop to TKM@xx and see if I can find one.

    Goals for today:
    -wash sheets & put back on bed
    -wash towels
    -water garden
    -eat a healthy lunch
    -write goals for 2020 in diary

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • Cherryfudge
    • By Cherryfudge 15th Jan 20, 1:58 PM
    • 3,561 Posts
    • 22,970 Thanks
    Cherryfudge
    Hi Velvet, just popping in to say I hope you're okay? x
    MFW #30 Overpaid by £4,100.58/£3000 in 2018
    Overpaid by £3,259.33/2,880.00 to 29/11/19
    Decluttered in 2019: 2,041/2,019 as of 21/10/19
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