Sunday, 22 August 2010

Knocked off balance and Back to Basics

Now I need to get back to basics.  I have felt bad about posting the fact I bought a new ish car.  I had an A class 51 reg and it cost be over 2k to keep it on the road last year.  So in  May yes May its taken me a long time to get up the courage to blog about this, I decided to get a mini.  I had been looking at them for a few weeks and the ones I wanted were 9k upwards.  Why a Mini well I wanted a BMW okay okay not frugal you might say well I had researched the 3 series and it is one of the most reliable cars on the road.  Now my husband has one - an old one and he is still paying off the loan so please please dont think we are loaded so I didnt want to get one too.  So I decided to get a Mini which of course is made by BMW.

We need a car each as I have to go to Court to represent clients and husband doesnt work within walking distance and it is cheaper to drive than get the bus.  I have to have a newish decent car as I use it so much for my job.

I found a mini I liked at 7.5 k okay it wasnt my perfect idea of a mini and I know there are cheaper cars but I researched and mini's too are reliable and last an age.  I want this car for at least the next 10 years.  This is my fourth car,  first was a citroen AX ( P reg) cost £450 sold for £450, second car Fiat Punto (P reg) bought £900 sold for £750 next the A class cost 2900 part exed for 1700 against the mini, put a few hundred down and got a 5k loan.  I know I know I spent weeks thinking about getting a loan.  I have the money in a bank account to pay for it but I though I would get a loan and pay the balance of in a year or so.

I managed to get 12 month warranty for my car so fingers crossed no probs.  Loan is over 4 years and is about £120 per month.  On paper this looked easy to afford but my husband is now struggle financially so now so am I. 

Our money is separate and I might have spare cash the only debt I have is the car loan but he has a car loan of 5k and 9k of debt.  I do have a student loan but have saved a few hundred in readiness for when that becomes payable and of course its a low interest rate.

My husband is not good with money and the last few months unbeknown to me he got a few bank charges because he went over his limit when he thought he had had enough money in there.

So he has not been able to put as much money in the "pot" as it were which has been a strain on me.  He is thinking about getting a job delivering takeaway one night a week to raise extra cash for the CC debt.

I on the other hand am looking at going back to basics from every day items to being careful setting a Christmas budget. This week I have struggled financially with the shopping and have had to rely on coupons such as 30p off Warburtons brown loaf.

I almost feel that although we are earning a decent amount and I havent had to struggle for a while, I have a low mortgage etc, that I am now have to watch every penny.  I am never going to take it for granted again and I will watch every penny.

I havent been able to go to Zumba which I started at only £4.00 a week - I am not moaning, I dont want sympathy its my own darn fault.  I am not in dire straits I am trying to point out that no matter how good you are with money no matter how much you think and research about buying something new that you need something could happen tomorrow to knock you off balance.

Sorry for long post.  I am sure most of you will think I am cracked!!


  1. I don't think you're cracked at all. All any of us can do is the best we can figure at the moment. None of us can redo things with hindsight. And you gave it thought. You'll just have to trust your judgment.

    Frankly, the last two cars we bought were new. Best thing we ever did. After years of struggling with used cars, we just looked for good deals on thrifty new cars and went for it. Scared me half out of my wits at first. But it has worked out well. We have reliable cars that don't leave us stranded in the middle of intersections or out on a highway. We haven't had engines rebuilt or transmissions to replace. The dealer takes care of everything under warranty. It has saved us money in the long run.

    Everything is tough right now. We're all getting knocked off our balance -- you are certainly right about that. More talk of layoffs around these parts. I keep telling myself Philippians 4:6,7. Do not be anxious about anything, but in everything . . . . . .

  2. Thanks for that made me feel better. I did consider buying a brand new thrifty car but decided not too. I am scared to buy a new car in case it goes wrong - no idea why. Anyway lets hope that I dont need to worry about it for another decade.

    You are so right it is tough right now x