I've paid my tax bill - the last £1002.12 just left my account - and I'm a free man. I've been in debt to the revenue since the economy went tit's-up 4 years ago - so you can imagine how I feel. The 7.5K I have had to find this year is the tax I owed from 2009 when all my work dried up, just after I bought a house that's now worth 20% less than I paid for it. I thought I'd be more excited - but it's a bit of an anti climax. There were times this year when I honestly thought it would be impossible to ever be free of the debt. I get very angry when I see adds for IV arrangements with gurning 20 somethings saying "I had £36k written off" - they are a myth. Everyone I know is in debt - and seeing as everyone I know is a middle aged, educated professional - that bodes ill for the economy as a whole.
I've worked my arse off this year, sold everything that has value that I don't need - including clothes, and lived as close to the breadline as possible to clear the debt. It wasn't that difficult - but a bit of a drudge - there were times when I wondered why I bothered. I know quite a few people who accept the fact that a big chunk of their income every month is just handed over to a credit card company to pay interest - and will continue to be, for the forseable future. I know people who owe more on their cards than they earn in a year.
My next challenge is to stay solvent and put money into this house - it needs to be in a state that makes is saleable without losing too much money - I don't expect it to return to full value for 5 years - and I don't want to be trapped here - I'd like to live closer to the station - but until then - I'm really quite happy in this little house - and at least I know how to live on £30 a week If I have to. I owe 95K on the mortgage, which isn't bad - less than I've ever owed, mortgage wise - but more than I'd like. I'm going to see how the next couple of years pan out and see if I can get it down to 80 before I sell it, I still have 6 years left on the fixed rate of my existing mortgage ( I thank the stars every day that I took out this long term fixed rate mortgage ) - the days when self employed people could get decent mortgages at the drop of a hat are long gone, I don't want to end up in he trap that the Halifax tried to spring on my and force me into a mortgage I didn't want and couldn't afford.
Might have a drink later to celebrate.... or might not. I'm not going to let it go to my head.
4 comments:
Why not treat yourself to dome nice biscuits? Probably only pink wafers left though if the council have been shopping.
Man we're getting our place ready to sell...we've kissed the equity goodbye and are just trying to avoid having to write a check. Hopefully we can pick up a enough equity on the next place...lots of great deals out there...to make up the difference.
Or maybe not...maybe we should just set the place on fire and head for the hills ( or swamp in our case).
hmmm...... I'm thinking Cheese and crackers with a nice cheeky red, or a whole sherry trifle!!!
e.f - there have been many times I've considered setting fire to this place and walking away - and often fantasised about coming home from a dog walk and finding a space station has landed on it.... but alas, it never did.
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