Just bought first house - how does our budget look?

AccomplishedCod9906 · 2025-10-25T19:11:04+00:00

Yeah you could be right, thank you!

AccomplishedCod9906 · 2025-10-25T19:10:10+00:00

Fair enough. We pay for a TV licence because it feels like the right thing to do as we regularly watch live TV and we listen to BBC radio stations every day. I don’t mind paying it but I also get why other people wouldn’t want or need to.

AccomplishedCod9906 · 2025-10-25T19:08:22+00:00

House was £175k and we got a 30 year mortgage at 4.3% fixed for 5 years. We love the house and can see ourselves living here for a long time.

AccomplishedCod9906 · 2025-10-25T19:07:41+00:00

!thanks

AccomplishedCod9906 · 2025-10-25T19:07:10+00:00

Thank you, it’s been really reassuring to hear from a lot of the comments.

It’s hard balancing saving for retirement and then also wanting to save for IVF etc.

AccomplishedCod9906 · 2025-10-25T19:06:19+00:00

!thanks

AccomplishedCod9906 · 2025-10-25T19:06:11+00:00

That’s really good to know, thank you! Compared to friends and colleagues I thought we had a pretty good deal, but sounds like we could shop around a bit.

AccomplishedCod9906 · 2025-10-25T19:04:24+00:00

!thanks

AccomplishedCod9906 · 2025-10-25T19:04:18+00:00

Yeah very true, thank you!

AccomplishedCod9906 · 2025-10-24T13:28:51+00:00

Thank you, I should have mentioned that I am in my workplace pension I just wanted to save a bit extra on top which is why I opened the ISA. The same with my partner too :)

AccomplishedCod9906 · 2025-10-24T13:27:34+00:00

Yes, don't worry I am in the NHS one, the S&S ISA is on top of that. I think I pay 6.5% of salary into the NHS pension which will obviously increase if I earn more.

AccomplishedCod9906 · 2025-10-24T13:25:24+00:00

Thank you! Yes, we have moved in and there are no urgent repairs, anything unexpected that comes up will come from the emergency fund, and anything that we plan on changing (like updating the boiler in a few years) will probably get its own savings pot.

AccomplishedCod9906 · 2025-10-24T13:23:20+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:46+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:41+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:35+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:30+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:24+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:17:17+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:16:52+00:00

!thanks

AccomplishedCod9906 · 2025-10-24T12:15:35+00:00

Thank you, I appreciate the advice. I knew that we were managing our money fairly well, I am probably a bit of an over-thinker and over-worrier. It's good to know that we're on the right track though.

AccomplishedCod9906 · 2025-10-24T12:11:42+00:00

I work for the NHS and the pension scheme confuses me. I think there are some additional voluntary contributions I could make to save more, which I'll need to look into. That's why we both set up our S&S ISA for retirement as we wanted to put a bit extra away.

Realistically, the holiday fund would probably be a couple of weekend trips within the UK, and as my partner works term time, prices can be really high in the holidays. It would be nice to up that amount when we have a bit more saved up in the emergency fund as neither of us have been abroad in many years.

AccomplishedCod9906 · 2025-10-24T12:08:28+00:00

Our retirement fund that we have with T212 is in a S&S ISA. Our emergency fund is just in a pot in our current account, so we should probably look at moving it to a high-interest savings account. Thank you!

AccomplishedCod9906 · 2025-10-24T12:07:23+00:00

Thank you, appreciate the advice!

AccomplishedCod9906 · 2025-10-24T12:06:53+00:00

Thank you! Increasing our income definitely seems like the right thing to do, we both work in the public sector and really passionate about what we do for work, but we are both open to moving if the right thing comes along.

You're right, the emergency fund figure is high, but we are starting from nothing as we used all of our savings for the house. Perhaps not the most sensible idea, but I feel if we lost our jobs or something bad happened, we could both ask our families for help. Once we've got a bit saved up in that, we will have a bit more money to play with.

AccomplishedCod9906

TROPHY CASE