My partner and I recently moved with our kids. We were searching for mortgage offers for ages. Initially I tried to research myself using websites – but it was just too much. We used a broker at the end and we went with one of his options.
The amount of paperwork that we had to retrieve for the application was unbelievable. The hardest part was gathering all the historical pay slips and all that.
We are paying service fees on the property. There will be some overlap between our old place and this new one, for water bills and stuff. Service charges sometimes have rolling one-year periods. I am probably over panicking, but that does actually worry me.
I have an arranged overdraft and I use it all the time. It costs me one pound a day for every day I am in overdraft, even within the agreed amount. If I go above the agreed amount, then it’s an extortionate rate. I probably do go above the arranged limit every single month.
Not having savings is very stressful. It’s in the back of my mind every single day. I always used to feel very safe and secure and that I had emergency funds. But now I don’t, which is nerve racking. I don’t quite know how I would cover it if anything massive happened. Anything more than £100 pounds would have a massive impact – an impact on how much I have left at the end of the month. I would call that a complete financial disaster.
But then I think I am better off than so many other people. I have a good job as a PA in the City. But if I put £250 pounds on my credit card, it would probably take me two years to pay it off. If I do ever have any freak cash left at the end of the month, then I just pay off more on the card.
Just having a few hundred pounds available without an extortionate rate or fees would be massive. It would definitely make me feel more relaxed and less stressed out.
My main goal is to get my finances back on track. I used to be really good and have savings and stayed out of my overdraft. But ever since we moved I’ve had to use all those savings and now we’re just scraping things together at the end of the month.
This year, I want to get back on track – and next year, start saving again.
Read our report on Financial Resilience in the UK