Money Wise Talks 28/04/2022

It’s been quiet this week and I have welcomed this with open arms!!

Life can get so busy can’t it?

The other day I was listening to an interview that Warren Buffet did that had been recorded and put on You Tube and it really got me thinking. He was sat in front of a group of college kids and said to them that he was (hypothetically) going to give them each a brand new car, but the only catch was they would only have this one car their entire life. He went on to explain that obviously if you are only going to have one car your entire life you would have to look after it pretty well for it to last the whole of your life. And you need to look after it now not when it started to get old as that would be too late. He went on to explain that this is how we should see our health. If we don’t have our health, what do we really have? Great analogy isn’t it?

Ever since I heard this I can’t stop thinking about it. All the times I have put my health last to get an extra shift in, meet a deadline, get another job done in the house or just put myself last and someone else first. Not some of the time, but most of the time. It’s no good is it?

I know I’m not alone here and this appears to be our culture but why do it to ourselves, there must be another way!

I’m sure most parents would agree, but you get used to surviving on little to no sleep and being stressed. Even when the children are away, you still worry about them.

Even before I had my child though, I preferred to work flat out over resting, sleeping and eating well. The only thing I did then that I don’t make time for now is the gym.

I definitely need to start prioritising my health and sleep. I just need to find the right balance.

Anyway, lets talk finances!

I’ve been paid and depressingly not been paid what I should have down to HMRC – Thanks a bunch! For some unknown reason, HMRC incorrectly put me back on an emergency tax code which resulted in me paying tax at 20%. When I looked into it on the HMRC portal, I could see that they changed my tax code in February 2022 to 1275L (This is currently the amount for basic rate tax payers and means you get the first £12,750 of your annual earnings tax free and then anything over this taxed at 20%). But then for some reason, they changed it to BR (Basic Rate) from 6th April 2022 😦

Urgh, give me a bloomin break!

Basically, I paid just under £600 in tax – bye bye overtime earnings. I mean, I know they aren’t gone forever and I should get it all back next month, but I hate waiting to be paid as it is and now I’ve got to wait even longer (patience was never a strong point of mine lol!)

Looking at it positively (we have to don’t we?), next months wages should be amazing, as long as something doesn’t mess up again.

Looking back over the debt repayments I have made in April, I paid a nice round £500 off. Not as much as I’d have hoped but better than nothing. And that wasn’t just minimum payments but a small overpayment to. I have also put money away this month to cover future house costs and have now managed to save the full amount of £1332.30 for the solicitor. Next bill is the stamp duty, which I should have by the end of next month. I worked out the stamp duty to be approximately £1200 but just need this confirmed by the solicitor. Once this is saved up, I need to save for a new lawn and beds.

I don’t plan on buying alot of new things for the house, but I need to downsize my bed from a king to a double as the rooms are smaller and my daughter needs to move out of her cabin bed to a single/small double.

What I have Spent This Week

£10.38 Macdonalds

£20.00 Retirement Gift

£57.86 Food and Party Food

£4.00 Cafe – drinks

£40.00 Turf

£2.75 Diet Coke

£5.95 Retirement Card

£3.85 Parcel Tape

£0.80 Pay Pal refund

£8.06 Birthday card, present and balloon

£54.96 Football boots, shin pads, football socks and boots bag

£14.34 Birthday cards

£40.00 Meal with the girls

£7.84 Morrisons

£60.86 Petrol

£6.85 Post Office, special delivery document to solictors

£9.45 On the road snacks

Total Spent £347.95

We have a couple of things on this last week resulting in some extra spending. We threw a surprise retirement party for my parents who have finally both retired now – I’m so jealous lol!! I am so happy that they can both enjoy the next part of their lives after working so hard for so long 🙂

My daughter started football after school so I had to but her the kit. So glad I was helped by the football Mums and Dads in store because I had no idea what I was doing lol!

I had a lovely meal out with the girls, which was super overdue. There are four of us and we call ourselves ‘The Gossip Girls’ on our WhatsApp group lol! Three of us were celebrating promotions and the fourth was celebrating a few huge milestones in her business. Two of us are currently buying properties as well. We are all so happy. 🙂 I love seeing my friends succeed. It makes me feel really warm inside.

I’ve not heard about the promotion yet, only that the process is still ongoing so fingers crossed I hear soon.

I’ve got something else bubbling away too. I swear my minds never stops!

That’s it for me this week. Take care

H

Money Wise Talks 21/04/2022

I’m back after another loss in our family. RIP Grandad.

I completely lose focus when people die. Not just focus but everything. All my motivation and even things I am working so hard for just get lost in the grief. It’s so sad to be sad.

And in all that sadness, I feel embarrassed to say that this year for me personally has been my best yet. With a new job, new career and some of the most amazing news that I’m going to share with you very shortly, I feel guilty to be so happy in my own life when it has been cruelly taken from my brother and grandad this year.

I know life goes on. And that’s whether we want it to or not but the last few weeks instead of writing my blog I reflected on happy memories of us and just how lucky I am to be alive, even on the most darkest days. I must try to not take life for granted when it doesn’t go my way, or is challenging.

But now I’m back and I want to say how much I’ve missed it! I won’t keep you waiting anymore …

The news is …. I’VE BOUGHT A HOUSE!!!

I’ll just let that settle in a moment 🙂

I have finally bought a house. Yes I’m still in debt (and have more now :\) But let me tell you, this house is my dream house. New area, extra bedroom, a downstairs toilet, big garden without the 90 degree angle, it’s a NEW BUILD and the icing on the cake is it’s in the same area where my parents are.

Ever since finding myself as a single parent ten years ago, I’ve wanted – no actually I’ve yearned to move back to the area where I grew up. Where my most precious memories are. Where my friends are. Also, my parents moved back to the area last year and this only made the feeling towards moving back there even stronger.

And it’s happening. I’m still in shock. All the worry I had about paying all my debt off, then saving (probably for years) enough for a deposit and then wondering if I’d still get a mortgage when I’m knocking on the doors of 50+, has now all vanished because it’s happening! I plan to do a detailed post about the property journey so I will go into all the nitty gritty details there, but yes folks. Dreams do come true.

I’ve never bought a new house before, but let me tell you this – choosing kitchen units, worktops, carpets, flooring and tiles is the most exciting thing I have ever done – even if it has meant the debt has increased!

That’s the only bad thing, the debt has increased. Not just because I’m going to be getting a mortgage but I’ve also borrowed the deposit. All these details I will put in the property journey post. At the moment, I have stopped overpaying on my debt so I can pay cash for the mortgage arrangement fee, solicitor fees and stamp duty. And once I have been in the new house for a few months and can see what my new bills will look like, I can review my budget and start overpaying on the debt again.

Don’t get me wrong, I still want to be debt free and this will remain my focus until the debt has been paid off. As I’ve now got the house of my dreams, the next thing on the bucket list after being debt free is to focus on increasing wealth so I don’t have to work till I drop! This is starting to feel more doable even though it seems a long way off 🙂

Of course I have taken thousands of pictures of my new house being built. My friend made me laugh when I kept sharing the weekly update pictures as she says it’s like a pregnancy but for a house lol! The new house could be built as early as June, with a potential move in date of 30 June 2022…EKKKK! The packing has started and I am LOVING the decluttering opportunity! We have been doing a weekly trips to the charity shop and tip and Vinted and FB Marketplace sales have started to increase too.

I set some goals for April 2022: Make £100 selling things, £10 weekly food challenge and a no spend month. As the month as gone on, the no spend challenge wasn’t happening as I was having to pay left right and centre for house stuff, then the £10 food challenge went out the window because I just didn’t give myself the time to focus on it properly, as I’ve been spending every breath either working overtime, packing or DIY in the house I’ll leaving! It’s never ending, but I’m not stressed because I’m too excited!

I will continue with the £100 challenge from selling things though as it aligns with my current focus of making money and decluttering and have made £30 so far – only £70 left to go. I need to list a few large items to FB Marketplace in the next few days so hoping they are sold by the weekend.

What I Have Spent This Week

£31.46 Cinema

£45.21 Tesco food

£12.17 Macdonalds

£0.87 Car park

£6.15 Texaco

£19.68 Tesco beer and breakfast

£73.77 Petrol

£139.96 Sofa covers 🙂

£8.98 Washing line props and stick on house numbers for wheelie bins 🙂

£5.58 Morrisons- brown packing tape x 2

Total £343.83

Looking at what I’ve spent this last week and considering it was half term, I don’t think I did too bad. The cinema was a half term treat and included the tickets, parking and snacks. We only had one takeaway which as you know, is pretty bloomin amazing for me!

We went my brothers farm a few hours drive away so I put a full tank of petrol in. Petrol prices have come down a little since I last bought a full tank. I also bought beer and breakfast as a thank you for him putting us up. These weren’t eaten and drank together by the way! My daughter and I love it there. It is so peaceful. Watching the sheep dog Jim working his magic with the sheep had us all staring at disbelief in his ability to manage all those naughty sheep so effortlessly. It was amazing.

I have told myself not to go mad and start buying everything new for the house – It’s definitely a challenge! However, for a while now I’d planned on getting covers for the sofa as my parents gave me their old sofa which is lovely and so comfy but the colour is completely wrong for our living room. So I have ordered some navy blue sofa covers. Hopefully this will break up the cream and look lovely and homely.

Finally, my last bit of news is I have gone for YET ANOTHER promotion! I know what you’re thinking, “She’s only been in this new job two months”, and you would be right of course. Don’t get me wrong, I love my current job but when I saw the advert for the promotion I just couldn’t not apply. I have all the experience across all my career and think I’d do a great job so though, why not just go for it!

I mean, this year is turning in to the year where everything I’ve worked so hard for is coming true so why not this too! It’s more money – £8k a year more and let’s face it, with this new house and extra debt I’ve taken on, I bloomin well need it lol!! When I think about whether I should go for opportunities, it always brings me back to – What’s the worse that could happen if I don’t get it? … and you know what, absolutely nothing. If I don’t go for things I believe to be out of my reach, then I’ll never have them or find out what it’s like to have them.

So my advice is GO FOR THEM ANYWAY!

I should find out this week if I get shortlisted so will keep you all updated – Wish me luck! Hope you all have a good week.

H