New Year. New Outlook?

[JazzyC]

You can give this as much or as little thought as you like.  But, I've been thinking quite a bit recently about what I'm hoping to achieve this year.  I'm keen to see what you all have planned for this year (if anything)?

I guess you could call these resolutions.

I myself will be aiming for a couple of big things.  I'm planning to save up around £10,000 by the end of January 2012.  The idea being that I have been trying for a while to move out on my own.  Many people have told me to rent, but I honestly see that as throwing money away as you don't have anything to show for it (the house/flat still isn't yours).  
I'm still a way off, but having some capital there for a deposit would be a nice thought for when things are in place.

Secondly, I've had an application in for the Army for over 6 months.  I've done little about it due to being tied into my current work until around June this year.  As a result my weight and fitness have suffered (not that they were upto scratch beforehand).  So, I'm going to be putting the effort in and aiming to lose the 2 stone and build up my fitness for 6 months time.  As much as staying in my current work is the easy way out, I know I'd look back in a few years and regret not doing it.

[Subb]

You can give this as much or as little thought as you like.  But, I've been thinking quite a bit recently about what I'm hoping to achieve this year.  I'm keen to see what you all have planned for this year (if anything)?

I guess you could call these resolutions.

I myself will be aiming for a couple of big things.  I'm planning to save up around £10,000 by the end of January 2012.  The idea being that I have been trying for a while to move out on my own.  Many people have told me to rent, but I honestly see that as throwing money away as you don't have anything to show for it (the house/flat still isn't yours).  
I'm still a way off, but having some capital there for a deposit would be a nice thought for when things are in place.

Secondly, I've had an application in for the Army for over 6 months.  I've done little about it due to being tied into my current work until around June this year.  As a result my weight and fitness have suffered (not that they were upto scratch beforehand).  So, I'm going to be putting the effort in and aiming to lose the 2 stone and build up my fitness for 6 months time.  As much as staying in my current work is the easy way out, I know I'd look back in a few years and regret not doing it.

I've been saving all my life to put down a deposit for a house and I'm just a grand or two off. Buying is definately better than renting.

Army wise - what are you hoping to go into? What regiment? I've started my Officer application for the Royal Marines and have a meeting in Feburary where I'll hopefully get my Admiralty Interview Board date. I'm currently going into the reserves, but if I enjoy it I'll be going full time once/if I get promoted to a higher rank (I'm currently in my 3rd year of training to be an Osteopath and will start my training next year.)

Keep us updated and good luck.

My resolutions are:

Keep up with training for the Marines (about 1/4 of the way to my projected goal/peak fitness) since the entry requirements are the harshest in the world (allegedly).

Finish this year with Merit.

Sort out my life.

[Da6onet]

This isn't a criticism or preaching, I just hope that you have done a lot of reading on the matter and/or attended a seminar for first home buyers because when I see the generalizations of "buying is always better than renting" and "renting is throwing money away" I am concerned that both of you may be jumping the gun. In fact one of the biggest mistakes a home buyer can make is assuming that they're automatically "making" money by owning a house. Again if you have already done the rent vs buy calculators for the number of years you plan to own the house and know about the costs associated with closing, maintenance and taxes then I probably don't need to go into the cost ratios per number of bedrooms you need.

For my own calculations, it makes more sense to save the difference in estimated mortgage and rent until my wife and I have a child and are willing to stay in the house 6 or more years. I am assuming banks in the UK also have a form of private mortgage insurance (read throwing money away), but even if you have 20% down, you're still not going to earn much equity in the house right away, during the first decade or so more than 2/3's of your payments go toward paying interest (talk about throwing money away!), and that's if you have a lower interest rate (by definition first time home buyers even with 20% down and high credit scores cannot get the lowest rates because they've never had a mortgage before, the best type of credit to have). Just remember this, the bank still owns the house until you pay off the loan!

If you still want to push ahead with buying a house in the next year I would look at renting out the rooms to help pay off pmi, interest, maintenance costs and taxes while still footing as much as you can yourself toward mortgage payments (simple interest loans with no pre-payment penalty are usually the way to go if you can afford to pay more than the scheduled amount).

[JazzyC]

There is a lot more work to be done before I actually get a house.  As much as I would like to move out tomorrow I know I have neither the funds to maintain a mortgage or the desire to do it alone.
I'm currently saving up so I have a nice chunk of money there when things fall into place.
The reason I say renting is better than buying is because I want something to call my own.  I realise while you have a mortgage the bank technically owns it.  But how many people do you know go, "I've moved into my new house.  Well, it's a house I'm renting from the bank for 35-40 years."  
It is a simplistic way to look at things but if you're renting you're paying for a house, but that place will never be yours.
I'm not seeing it as making money, I know the costs of getting a mortgage can far outweigh renting.  But you have a place to call mine.

There is never going to be a good time to get onto the housing market.  Having at least funds there to jump in when I'm able to is all I'm looking for.  When that time comes then the research will be seriously done.  But I maintain that with my outlook, owning a house is the way for me.  Something to call my own, to do with as I like, and something I can be proud to say is mine.


Anyway, Army wise I'm going for either Military Police or Military Police.  I've passed the BARB test and Criminal checks.  I do have a degree so I could go the Officer route, but I haven't really discussed that yet.

[Subb]

I do have a degree so I could go the Officer route, but I haven't really discussed that yet.

Definately go in as an Officer. People are put off because they don't want to make decisions. I'm sorry but you'll have to make decisions anyways, but with an Officer you'll have more responsibilities granted, but you'll gain the confidence from training (and a phatter pay check).

[Da6onet]

Ok, put another way, after 6 years, you would own the corner of your bedroom :-p

Building equity (having something to show) is a noble goal and I wish you luck.

[NoCry]

Buy a home and join as an officer - rent it out whilst you are training.

 I too have a degree and spent three years in infantry TA as a non officer. Great fun but gets pretty boring taking orders from those who are less educted than you and can not necessarily string a sentence together. This is not a knock against those who are not officers at all (far from it; as I said I spent three years doing it) rather i am just pointing out that  degree level education does not mix with non comms - they will have a chip on their shoulder and you your's. The British army has enough issues without the wrong people having the wrong ranks.

Sorry if this Is controversial I do not mean any insult but I have lived it and it is not the best way to go.

[JazzyC]

I actually got told by someone, although I don't think he actually had any experience with the Army, that jumping the ladder with a degree can cause some non-comms to have a chip on their shoulder.

Come to think of it, I don't know why that piece of advice has stuck with me.  I can barely remember the person who said it, though I think he was a fellow university student who had decided early on uni wasn't for him.

I actually spoke to a friend of a friend in August while at said friends wedding.  He joined the Army after college and is a year older than me.  Though that would put him in there for around 6 years, which I swear isn't right.  Anyway, that's irrelevant.  He's in either Logistics or Signals.  Whichever one is tasked with the set-up of equipment for other training exercises.  Pretty sure that's signals.
He's told me that Basic is the hardest part.  It's good for you but that is when everyone is hardest on you.

My only concern at the moment is that allow they said last year they were fine to wait, I haven't had any contact with them since June last year (when I told them of my work opportunity that held me back).  I don't really want to go back though before I have my weight and fitness sorted so they can see I have actually been doing something.

As for the house.  A friend of mine from school has been rather lucky in that he bought a house last year (the monetary joy of working oil rigs I guess).  He's always out for 2 weeks and back for 2 weeks.  Wouldn't it be roughly the same for me?  Although I guess the time away would be longer.  I could rent it to friends/family I guess.  But I figure it would be alot of hassle to keep letting it out then kicking them out when I got back.  Plus, my dream would be to get a house along with a partner.  It sounds like a good idea, but on the other hand, it could be easier to just save the money ready for when the majority of training and uprooting is done.

[JazzyC]

So this week was my first week of "getting into shape".
Started Tuesday with my first session with a personal trainer.  Did a bunch of fitness tests along with a run and some push-ups and sit-ups.   I worked out today the run is roughly 1.4 miles which I've now done 3 times this week.  The times have been 13.40, 14.03 and 13.55.  Some way to go.
Push-ups were a lot harder than I remember.  I've never been any good, but then I've never done then after a run either.  So I was shattered.  As for the sit-ups.  While most tests have someone holding your feet down, he had me doing them without that (what is essentially) help.  Killed me.  I struggled to do 10 in two minutes.

He had me keep a food diary the week before, and this week too.  I'm seeing him again Tuesday afternoon and he should be coming back with results from the tests along with a food action plan.

And, even though I've only been out three times, I actually feel more refreshed and alert after going for a run, than on the days I don't do it.

[Subb]

Good work Kaplin, keep on it! I've ruined my legs and I'm getting some acupunture on tuesday so no running for me until Wednesday. I'm gutted at the moment; I'm literally bouncing from boredom (I'm still back home in Wales and not in Uni).

 I have no way of timing myself (I hate having more than my keys and/or an ipod with me) but I think my 2.5 mile runs are taking around about 25 mins at my best. Still have a long, long way to go yet.

I am absoluetly shit at press ups: 12 is my best before my technique goes to pot and I can't get closer than 6 inches off the ground. Sit ups I'm better with; can do 55 in a minute with feet fixed, 30 without. Man pull ups (palm away from body) I can do only 3 :/ can do 15 of the other pull ups (palms facing).

[JazzyC]

I'm struggling to find anywhere I can actually practice pull ups.  I'm 6ft 6 so can't really get one of those bars to fit in the door frame as I won't have very far to pull up.

[Subb]

Ah, height may be a bit of a problem then :p

In most gyms they have an adjustable pull up bars; maybe go to the gym to do weights once or twice a week? You can always incorporate a CV session there too.

[Ghisteslwchlohm]

What about kneeling?