money saving, girlfriend, first home. Advice?
Discussion
Before i go into this I'm not massively clued up with credit scores, mortgages or anything like that so if i'm wrong about anything then a bit of help would be appreciated 
Me and my girlfriend are planning to get our first home, we both understand it is not going to be cheap or easy. I have just came out of my time as an apprentice and i am now earning a good wage, she has been working full time for 2 years and earns a good wage too. However, i get paid cash in hand weekly which means i very rarely use my bank, i have never borrowed money and i have no credit score what so ever which will be a problem when looking for a mortgage. She has no history of borrowing either.
I suggested getting a credit card to use for internet purchases and put the cash to one side and pay it off monthly, would this help the credit situation at all? She thinks its a stupid idea (but she's now looking at a credit card too?!
)
Cue argument about how she thinks getting paid cash is stupid as apparently i dont know what money i've got, i can count so thats all made up nonsense. She also thinks i don't save and wants to set up a joint savings account to prove i do which i'm a bit unsure about. I don't drink, i don't smoke and as boring as it sounds the only thing i have that takes my money is my car (its cost me £40 in the last 3 months, go figure) And i've managed to save just as much in 3 weeks as she has in 2 years but as usual i'm the bad one and i don't have a clue about saving and blah blah blah. /rant
In short i want advice on building a credit score, how to deal with a woman that thinks she has encyclopedic knowledge on anything and everything and information on general money saving, borrowing and house buying.
Me and my girlfriend are planning to get our first home, we both understand it is not going to be cheap or easy. I have just came out of my time as an apprentice and i am now earning a good wage, she has been working full time for 2 years and earns a good wage too. However, i get paid cash in hand weekly which means i very rarely use my bank, i have never borrowed money and i have no credit score what so ever which will be a problem when looking for a mortgage. She has no history of borrowing either.
I suggested getting a credit card to use for internet purchases and put the cash to one side and pay it off monthly, would this help the credit situation at all? She thinks its a stupid idea (but she's now looking at a credit card too?!
) Cue argument about how she thinks getting paid cash is stupid as apparently i dont know what money i've got, i can count so thats all made up nonsense. She also thinks i don't save and wants to set up a joint savings account to prove i do which i'm a bit unsure about. I don't drink, i don't smoke and as boring as it sounds the only thing i have that takes my money is my car (its cost me £40 in the last 3 months, go figure) And i've managed to save just as much in 3 weeks as she has in 2 years but as usual i'm the bad one and i don't have a clue about saving and blah blah blah. /rant
In short i want advice on building a credit score, how to deal with a woman that thinks she has encyclopedic knowledge on anything and everything and information on general money saving, borrowing and house buying.
Yes i'm legit, on the books paying tax ect, by cash in hand i meant i don't get paid into my bank
thank you so far, i thought the credit card would be a good idea. I have a phone contract too which was set up in my mothers direct debit, it runs out in 2 months so my new contract will be taken in my name.
thank you so far, i thought the credit card would be a good idea. I have a phone contract too which was set up in my mothers direct debit, it runs out in 2 months so my new contract will be taken in my name.
To be honest renting has only briefly crossed my mind, the lengthy waiting list (i have a friend that has been waiting almost 2 years to find a home) and the lack of private landlords in the area has put me off that option a bit.
It may be worth a try though, i will look into it a little deeper now.
It may be worth a try though, i will look into it a little deeper now.
photosnob said:
I don't know. But what possible advantage is it for you to be paid in cash? If you are paying tax/NI then it's just a pain for you. If your employer allows it you will only benefit from it being paid into your bank.
Also and I really don't want to be rude. But when you say good money, are you sure? When you get your own place you need to add on things like council tax, insurance, utilities, tv license, broadband, sky.. and loads more. It adds up quickly. I'm not trying to be condescending but from what you have said about your finances you do seem a little inexperienced.
I am definitely inexperienced, that's something i am confident to admit to. Wage wise, with both of our incomes we should be able to live comfortably, obviously it's going to take time to build up a fully furnished home but a roof over our heads is my main priority. Also and I really don't want to be rude. But when you say good money, are you sure? When you get your own place you need to add on things like council tax, insurance, utilities, tv license, broadband, sky.. and loads more. It adds up quickly. I'm not trying to be condescending but from what you have said about your finances you do seem a little inexperienced.
You're not being rude at all, you've brought up some good points
yeah i would never get paid into a joint account, i wouldn't trust anyone with my money.
We don't control each others money but i have advised her to cut back on the spending a bit until she can match what i am saving each month. I don't think im being unreasonable by asking that, am i? We are meant to be doing this together so our savings should be 50/50 in my eyes. She does earn more than me to be fair and doesn't have a car to pay for.
My suggestion didn't go down too well.
We don't control each others money but i have advised her to cut back on the spending a bit until she can match what i am saving each month. I don't think im being unreasonable by asking that, am i? We are meant to be doing this together so our savings should be 50/50 in my eyes. She does earn more than me to be fair and doesn't have a car to pay for.
My suggestion didn't go down too well.
some helpful and honest advice here and i appreciate it.
There has been no arguing between us, i think that has been blown out of proportion slightly, a few little hiccups and niggles most of which comes down to lack of knowledge on the subject. We have been together nearly 6 years now and are happy, hence the reason for wanting to move to the next step.
There has been no arguing between us, i think that has been blown out of proportion slightly, a few little hiccups and niggles most of which comes down to lack of knowledge on the subject. We have been together nearly 6 years now and are happy, hence the reason for wanting to move to the next step.
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