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

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