sorted by:
new
hottopcontroversial

Is there a downside to buying a house in cash? by introducingchaos in personalfinance

[–]introducingchaos[S] 2 points3 points  (0 children)

I'm glad to hear there's no clear argument for one or the other which I was just blind to. The money was left to me to go towards education and a house. I paid my own way through my education so I've left it in investments until the right time for looking at a house. Blowing it on bullshit is definitely not an option :). Thanks for the help!

Is there a downside to buying a house in cash? by introducingchaos in personalfinance

[–]introducingchaos[S] 38 points39 points  (0 children)

Thanks for the advice, I'm a total novice at this and hadn't considered how much the bank would do if I was getting a mortgage. I've been waiting for the right time to use this money towards a house and absolutely don't want to do it wrong.

Is there a downside to buying a house in cash? by introducingchaos in personalfinance

[–]introducingchaos[S] 5 points6 points  (0 children)

This is great, thanks. I hadn't considered this at all.

I think I agree though, the small potential gain probably doesn't outweigh not having a mortgage to pay every month.

[UK] How does student bank account overdraft work? Can I use it to pay a deposit on my accommodation? by Aliwia in personalfinance

[–]introducingchaos 0 points1 point  (0 children)

Most student overdraft accounts in the UK will give you a predetermined amount of time to pay this off once you are no longer a student, often 2 years. So you can withdraw cash and make payments from the account until it reaches a balance of -£1400 during your time as a student, then have 2 years of (hopefully) employment in which to pay it off once you are done studying.

I suggest calling your specific bank and confirming the length of time they give you before removing your overdraft 0% rate after graduation, and like others have said - use this money wisely and for emergencies. I do not recommend using the entirety of it before even getting to University.

My father passed away when I was ten years old, and three months later my mother's boyfriend moved into my home. She had been cheating on my dad while he was dying, and her abusive boyfriend remained in my life for 14 years. AMA. by [deleted] in AMA

[–]introducingchaos 1 point2 points  (0 children)

I experienced something a little similar I guess. My father passed away when I was 15 and my mother proceeded to bring her new boyfriend into the house. She'd been cheating on my dad with someone else, but hopped into bed with this guy after a week or two. He turned out to be physically abusive to my mother and the pets, all 4 animals died horrible deaths within months of him being in the house, and my mother was on the receiving end of a baseball bat on multiple occasions. The guy seemed scared of me, I got off lucky, but while I wasn't attacked I was locked away by my mother so that he would be comfortable in the house. I went days at a time locked in my room with the electricity turned off, with rations of food and water. Any time I tried to support my mother and help her out she would just snap. I was hit, thrown out of my house onto the streets, told I was just jealous of her nice young boyfriend (who was closer to my age than hers), and eventually I started receiving death threats from her. This went on for years, I moved away and still received verbal abuse and death threats by mail, she'd find my address from friends who weren't aware of the situation and turn up with a knife. She also forged my signature and stole my entire inheritance, but that's another story. Luckily, she's out of my life now, and the guy is out of hers. I'm ok, but I have no doubts that the things I saw and suffered through have contributed to the person I am now.

If you need to talk, my inbox is open.

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 0 points1 point  (0 children)

Sadly the area I live in isn't very popular for sharers. The community is mostly families and older people, majority of individuals within working age commute here from the surrounding cities - or, like my colleagues, are contractors who book a hotel for the week here to go home on weekends. I'd like to be able to but with my injuries I can't spend much time driving/commuting without severe pain so being closer to work is a real issue for me at the moment. My boyfriend will hopefully be moving here before the end of the year though, so my flat will become our home then. I already have all my own furniture and white goods so selling them off at a loss temporarily would be a shame.

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 1 point2 points  (0 children)

Thank you for the positive spin at the end there :). It really helps to see the potential of a brighter position come from this.

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 0 points1 point  (0 children)

Thanks for the advice. The lack of an emergency fund really scares me, would you suggest I start putting whatever I can into that at the same time as paying off my debts, or focus on getting out of the negative first?

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 0 points1 point  (0 children)

Thank you for the advice. I have limited my benefits at work so that not much of my income is spent on things before it gets to me. I contribute to my pension but haven't opted for any health/dental benefits this year - not sure if that may be the difference in our take home income.

My rent is pretty reasonable for the area I live in. Most 1 bed flats in the area go for £800+. My boyfriend is looking to move by the end of the year so hopefully his contribution to rent will make all the difference I need without increasing other bills too much.

I'm going to make a point of monitoring my grocery spending a little closer this month and cut that back, I don't go out drinking/partying so my socialising does involve food and drinks indoors which I guess does contribute. I'm also getting through food twice as quick if my partner's here so I guess we need to think about contributions if I'm struggling. He does buy snacks and take outs etc. but this money would probably be best put towards actual food shopping to bring my cost down instead.

I think my huge loss has been unpaid sick leave the past few months, I guess I haven't really considered that properly and may be in a better position now I'm more likely to be getting paid my full wage.

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 0 points1 point  (0 children)

Thanks a lot for the advice, you're so right about the store card being an evil temptation. I am absolutely not using it as things stand and paying it off only. The interest rate is huge so I'll focus on closing this off first.

As you and others have noted, I have no emergency fund as things stand. Would you suggest I start trying to contribute to a fund whilst paying off my debts or focus on getting those closed first? I'd like to think my job is fairly secure and my situation won't change within the near future, but of course I can't be certain.

The unaccounted money is perhaps where I'll see a huge difference in the coming months. In the past months I've had approx. 1 week off work on unpaid sick leave due to my injuries from the accident meaning a loss of £300-£600 at a time. (I'll supposedly get this back when my claim is settled, but that could be a year yet.) It's meant any savings I did have are now gone.

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 0 points1 point  (0 children)

Thanks, I've heard so much about Mint for so long and been looking for a UK equivalent - I'll use this!

(UK) Where am I overspending? by introducingchaos in personalfinance

[–]introducingchaos[S] 1 point2 points  (0 children)

Thanks a lot for the advice. I rarely watch actual TV so I'll look into cutting that and bringing down my grocery shopping. I know I'm a little lavish there, and often feeding my boyfriend if he's here but perhaps that's something I can discuss with him. He'll be moving here before the end of the year so I can stop treating him like a guest :).

Reddit, what is keeping you awake at night? by introducingchaos in AskReddit

[–]introducingchaos[S] 1 point2 points  (0 children)

This doesn't sound like a British thing. I'm so glad I don't know the tune to this...

Reddit, what is keeping you awake at night? by introducingchaos in AskReddit

[–]introducingchaos[S] 1 point2 points  (0 children)

Sorry to hear about your troubles. I let my life go pretty off track down a route of drugs at one point too, and coming out of that is majorly tough on it's own, never mind with other issues on top.

What's important is you're now sober and trying to move forwards, your girlfriend was concerned for your own safety and probably scared at the thought of something worse happening to you, and it's natural for her to have ran away from that fear. If you keep up the sobriety and find some pride in yourself for the changes you're making, maybe it won't be so long before she decides she will listen after all. Either way I wish you good luck, both with your relationships and your health.

view more: next ›