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Oh welcome hello how are we all doing it is a Saturday morning here I have my coffee while not much left but you know must have coffee when we're talking about very adult things so welcome to my brand new serie I'm not going to call it a series because you know what I'm like this is adulting with Ali where once a month I will attempt I will try and keep this if you want this series I will enjoy this series and we shall keep doing it that is a fact and I've try and promise to do that I'm growing up I'm almost 30 I'm gonna be 30 this year and I am lost in a minefield of things that we should have been taught in school and yet we weren't mortgages credit scores things like that so this is a series where we
are going to sit down and I don't have all the answers but I am going to take you along the journey of me trying to find the answers and I want these videos ought to be about the comments section I really wanted one to go hard in those comment sections and for it to be a place where we can form each other patrons experiences give each other advice okay so we have a notebook specifically for this series I'm going to have sipping my coffee excuse me and that camera angle feels very low may I adjust thank you darling you're very considerate oh that is much better yes I feel like it can be a little bit closer Tina so January adulting with Ali episode 1 leggo Sakana I've been talking about getting a mortgage because we
don't want to write forever renting is pretty much just burning money but it is a necessity before you on the property ladder so wanna put a real strong game plan into action sir where do I even begin with all this we will not talk about mortgages now Scott has for a while he's the very smart one when it comes to this he thinks about investment and business very different and he's very inspiring he was like we should buy a flat not necessarily to live in but ski onto the property ladder buy a 50 60 70 grand flat one-bedroom flat and rent it out rent a lacking cover our mortgage payments and banger on property ladder much lower mortgage much lower deposit more chance of game on the property
ladder and from there we can expand and I was always like no because I want to live in the house that we first buy and a lot of people do this and that's fine but for us being bumped self-employed and yes we'll get earth state pension which won't be enough to live off so we'll really trying to think of money for the future like real long-term future now because it's now or never we got to start thinking about it I would love to have property and have equity in property so when I hit sixty that we can sell or pull out money from the equity in our investments but I always thought we'd go along them we rent and then we buy a small house and that will be our first house who will live in it and then
we'll upscale to a bigger house I suppose like it is so hard for first-time buyers see on the property ladder and especially if you want investment that's not really how it's gonna work that's not the smart way to go about it so he was telling me what he's read and I'm kind of in agreement so that's an option we'll come back to that we'll circle back to that is kicking off a lot of black smoke hello good God look at the flame are you okay sorry yes I was looking into mortgages how we get a mortgage for one you need a good credit score now you can get a mortgage with a bad credit not a bad one but a lower credit score but that affects your interest rates of what you're paying back so okay so I checked my credit score I did a soft check so nothing
affected I think I did on no non money supermarket why is the one money saving expert saving expert saying like that it was a soft search I think through Expedia who actually did it and I have a neutral credit score I don't have any bad credit I don't have any great credit it's a mutual credit school I Pro be approved I mean I got a phone contract and things like that so if they put on my credit score for something average and normal I'd get approved for it nothing wild though especially not a mortgage if I did I can't imagine what the interest now biggest okay how do I increase my credit score and you know how you increase a credit score by getting into debt that's some real
talk now I experienced debt I know what debt and bailiffs and things like that look like from my childhood I know what debt does to people what does to a family where does to people's lives and I was adamant that I would never get into debt that wasn't necessary when I say necessary I've got student loan but that's counted as good debt you know I mean your mortgage it's a good debt I know one credit card I will never buy things on Finance they've always had the mentality if I can't afford it I don't have it when we moved into this house over a year ago I mean if we're still not fully like where we want to be because a home takes so long to you know pull together and make it really your
home and as you can see it's actually been following the journey on social media stuff like that we're slowly getting there making it really like a cozy home but I could have easily walked in and gone to what is it those websites where you buy loads furniture and you paid off monthly uh it was never cross my mind when I dropped my camera into a lake in Belize lush Ignazio for my god time plus I could have easily like gone on a black nurse get a super good camera and that's like over a thousand peso me need to upgrade my camera game and get better one and then we'll just put it on Finance because I don't have that much money spend like I write throughout my
bank but I didn't what I did was I went onto Amazon I purchased the exact same camera that I had before for about three hundred quid I was like this cameras great it gets my message across here we go and I can afford that and I'm paying out right and I'm happy and comfortable with that expenditure I still my whole life and not getting into debt because if that mindset however now I was I might so I need some debt because basically your credit score is showing a lender later on down the road that you can handle debt well so they want to see past history record of years of you borrowing and be paying on time and they want you to have that good crazy love like she's been in debt she's borrowed
money before and she pays it back on time she is great she trusted aura wa o borrower imaginary tiny little person buying their first full house like shoebox yeah if you've seen the film you'll get it okay credit cut right let's do credit cards and because then I can just I just seen the scars I what I should be booking all my child stuff on a credit card anyway it's silly that I haven't been accepting my loss and my thoughts but then I can just pay you the balance off straight away it's not that no that's not how credit works you need to set up monthly repayments doesn't have to be the bare minimum but you can't just pay it off because that won't give you any good credit I was like right
I can eat like over have my month and then just pay it off on time everything well how's that I don't like having that debt I was like okay so I'll have to if say I buy a five hundred pound flights for example alright I'll just put that money aside so I know that it's always there and out of my mind because I like if I'm gonna buy something then it's out and i can 104 day at that time i don't to use a credit card to buy things that I wouldn't buy normally on a debit card on my cat like cash card am I making sense I really hope I am this is just a bit of a ramble so I can't have to pull that money aside then use like yeah you can't just pay it off cuz that won't give you
a good credit score that's like that so I need to go into debt and the thought terrifies me of doing that even though I can pour that money aside that 500 pounds and make sure it's there so I can pay off that credit card and yeah together and then build up my credit score so I think I'm gonna have to do so I need more debt isn't that hilarious I could go in five years time to a mortgage lender and be like look I've had zero debt I come really good with money and they'll be like that doesn't show us you're good with money it's like big total debt why are you making me going to death oh it just gives me so much anxiety I also find the thing which I really want to share with you it's
called the rental exchange now I haven't signed up for this year because basically your rent doesn't go towards your credit score if you're in rental property and you're paying rent on time every single month like we do notice payment always just comes out you know standing order don't get whatever bring you back to pay you rent there is thing called the rental which I really need to get onto and that is something I'll link down below have a little read where you paying rent on time actually can increase your credit score because the past year obviously we've been paying every single month on time and that could have been going towards our credit score so that could help but I haven't done it yet but I'll
link it down below for you I have a five year mortgage plan scan I decided right it could happen way before that or it happened way after that but giving ourselves a chunk of time then it has to happen in as a deadline it's good you know it's really good like you with your goals your dreams your ambitions you need to write them down and you need to look at them everyday for them and just our you know manifesting so you can start taking action on doing it so I sell a lot of savings goal am I on my banking and we both want to save time around each to put down on a deposit I've just literally would stand in the kitchen making this and I'll told my Google home to claim you the news so get to see what's going on in the world all very
depressing as actually sling came up by first-time buyers so a first time by a deposit on average in the UK just a deposit first-time buyers in the UK in 2019 was 46,000 pounds who has that money even between two of you that's 23 grand each and here is us but only a five year plan save 10 grand each I mean a problem probably with the average it's taking you know some extremes unless in to take out the outliers but you know maybe people going for the hundred fifty two hundred grand house like house whereas we be looking at a flap but then we come back to this it feels like I'm just having a chat with a friend I can't wait to read your comments on this because like any advice please and any links leave them
down below this do we go for buying the say 60 gram flour to get us onto the property ladder 20 grand deposit so 40 grand mortgage saying we'd be accepted for public through state agency because I have no want or desire to be the frontman of doing the day to day things so factoring all of their expenses in but letting basically tenants pay off our deposits on it and getting good will do private letting probably and get good tense and hood blow you know and let them pay off the mortgage but then it came into my mind like okay so my big plan at the end is to this is my vision where 50 55 60 I want to live in a be living in a house a nice house by that point that is hours with my slum mortgage on it but
hopefully not our house but I also want to have other properties that I have equity in either I'm still paying more job or I own out right it feels like what's on sighs we own a house it's like I have you paid off the mortgage goes to me until you get that deed you don't really own the house if that makes sense like now the bank an extra long house so that would be my plan to have a house the we own outright that we live in but have equity in the property multiple other properties that we can be renting out buy and sell and things like that so when it came to it that would be our retirement money but when I think about that I like that seems like my wife we gotta sell it you know me we're gonna need other
things to do and they it's a lot of thing so if we go to the hole buying a flat thing okay that's great but then we're still renting or do we save a larger deposit move us into a two-bedroom house nothing fancy I mean this house we don't know how much it's worth but think like this it could pro be bit smaller probably not as well-maintained I mean when we rented this house it's so nice it's like so well done the kitchen frame is brand new we know we love the kitchen here everyone wants that kitchen I love this kitchen I know on the house kitchen that black tile girl got any coffee just thinking about this so do we then move in like how did you get that multiple property how did you start now if you know of a youtuber called Patricia bright I was watching
her video this morning her second channel I'm addicted every single video I'm watching the break platform I will link her down below she's a massive youtuber stride the second channel she's got bass before I think she said for investment properties and in this video she's like visit my 450,000 pound investment property in London that's just one it's other 103 or 104 she's got loads and she also owns her own home businesswoman CEO of her own business like she is goals she's goals I don't think she's even thirty he's gold but she is so real she breaks it down for you she doesn't you know she did a video which says here's my 65 KS salary that she pays herself from her business and she showed you where every bit of her money went in
a video in a spreadsheet like that kind of realness that we love around here like completely transparent this how much this cost this how much my investment this how much I'm gonna make that this is how much I earn from this salary this leg area and she's gonna do videos about Heights guns with property ladder soon and real I go into finances investment and I am so therefore a so therefore she's like a boss like the living definition of a businesswoman like oh my god so inspiring so yet this isn't an informational series necessarily but if you want me to do this where we kind of we're all clueless we're all figuring it out at the same time and if you want me to sit down or
make notes like every month or things that I'm considering or looking into new updates there might not all be this serious could be business II I don't know but if you want me to do videos like this regularly where we sit down and do some adulting and try and figure things out and have the community down below then we can go there and ask people questions and have a conversation and we can all figure it out together if you like this please let me know it's not like I'm Patricia who can give you the answers she can give you the answers so if you want that go and check out her channel but yeah I thought I document the process of not knowing what the [__] you're doing and all figuring it out together so yeah
my biggest thing that I would like to ask you while I'm trying to increase my credit score is how do you do it how do you start by I'm renting to I own multiple houses do you move into place that you buy and then get a second mortgage which obviously I've read comes with a much higher deposit much more stringent checks on you because obviously the garcy like okay it's not just saying money I need to make sure that I yearly earnings are going up and up enough to do this kind of thing and that isn't the plan as well so where do you start do you buy an investment property while you meant just to get on the ladder but then you're burning money renting and I could do with some help
and if you've had this experience then please let me know apparently it's just a massive headache mortgages buying then selling or owning that is just like a whole different ballgame trying to sell your house new house and lots of terms and stuff that I need to learn we're all gonna learn it together so let's have a conversation down below I can't wait to hear what you think and get any suggestions and ask away if you have any questions that I didn't ask them down below as well we can all get together and figure this life stuff out alright loving leaving don't forget Instagram and Twitter as we all those the only two that I actually use every single day and subscribe hit the bell so you're always notified of new videos
that are coming up because YouTube it's hopeless and yeah I will see you in the next one alright loving living gonna see how much deaths I can get into now to hopefully get a mortgage one day it's just bizarre statement in it we need to deserve anyway bye
