August 2007 Archives

I had a proper forty-five minute conversation with my father last Saturday. I had spoken to him briefly earlier this year but was left under whelmed by our first direct contact in over twenty years.

Due to my anger with how he treated our family when I was much younger, contact over the years has always been through intermediaries – my mother when she was alive and later my elder sister.

So while in Hyde Park waiting for Panorama – the UK’s national steel band competition to start, I decided to call him again. What possessed me, I’ll never really know. But I am glad I made the effort. We ended up having the sort of conversation I wish I’d had with my mom when she was alive.

I asked him all the tough questions that fifteen years ago I would have been too scared to ask. Mainly because my father -- from as far back as I can remember was an arrogant, self-absorbed prick who really cared for no one but himself. How else to explain the long list of broken hearts (women and children) he left behind after each failed relationship.

This meant that our conversation was a bit awkward at times, but his answers made me want to get to know him better. He is a lot humbler now. I suppose age and a few setbacks (personally and professionally) have brought some much needed perspective about what’s really important. Thus, the plan is to call him again next week. Who knows, in the next coming months/years, I might start of think of him as a parent instead of being just a sperm donor.

I reached breaking point yesterday on the house purchase. Why? Well it has been 91 days since my offer on the house was accepted and the seller advised that instead of exchanging contracts and completing as planned next Monday (3rd September), they would need another month in the property. This didn’t go down well at all.

In fact, I went ballistic and used words unbecoming a lady to both the estate agent and my attorney. And after taking the night to calm down, I called the estate agent back today and advised that if the sellers were not prepared to negotiate a date sooner rather than later, I was walking away from the transaction effective immediately. This wasn’t an easy decision since I really like the house but I’d basically had enough.

The estate agent went into panic mode (I suspect because his commission was threatened) and somehow got the sellers to agree to complete on the 10th September. Still not ideal, but definitely better than having to wait until the end of September. So provided my lawyer confirms this date tomorrow, I’ll begrudgingly transfer the money to push the transaction forward. I am tired on living out of a suitcase.

Since I moved to London, I have not been as aggressive with my retirement savings as I would like to as things are just bloody expensive over here. However, I do have a few long term objectives in mind and so after I manage to sort out my housing situation, I'm going to consider taking the following class:

Six Steps to Financial Freedom - Because a man is not a plan.

The class is being run by a former boss and while I think I am already pretty money savvy, I am sure there are a few things I could learn to help me get closer to my financial goals.

I have not yet exchanged on the property in Bromley that I am trying to purchase. And so frustrated I am with the process that I have given my lawyer two weeks to sort the matter out. Specifically, I am looking for him to lock down an exchange date by the 2nd of September. If we can’t come to an agreement with the seller, then I will have to consider exercising my option to walk away from this purchase. This purchase has dragged on long enough.

As a first time buyer with my finances in places, the process was supposed to take no more than two months. Now we are in the middle of the 3rd month and there is talk that is may drag on for another month. This is totally unacceptable. Thus, as painful as it may be to start again, I just might consider doing so. With the recent interest rate rises, the market has cooled a bit and things are more favourable to buyers. So who knows, there might be a better deal out there for me. And with Alliance & Leicester indicating that I could have the same product with lower interest rate even if I purchased a different property, I just might start looking again to see what else is out there.

It is a week on from my birthday and I am finally starting to get over my cold.

However, what grieves me more than being sick over my birthday is the fact that certain persons who I thought were part of my inner circle, failed to acknowledge my birthday. They didn’t call, email or even send a text message. This sadness me but I can’t let it get me down. Life goes on.

Plus on a positive note, on Saturday while purchasing a bottle of champagne for my friend’s BBQ, the lady in the supermarket wanted proof on my age. She thought I was underage. That just about made my year!

Article below is cleverly written, but I am still somewhat offended at any notion -- even in jest that we should get rid of August. August is after all my birth month.

August: Let's get rid of it.
By David Plotz for Slate
Posted Monday, Aug. 13, 2007, at 3:59 PM ET

With all due respect to T.S. Eliot, this year's August could give April a run for its money in the cruelest month category, what with the gross weather, transportation meltdowns, and collapses of infrastructure. In 2001, David Plotz assessed August in all its humid misery and suggested that the eighth month would best serve the calendar in an abbreviated form. That article, "August," is reprinted below.

August is the Mississippi of the calendar. It's beastly hot and muggy. It has a dismal history. Nothing good ever happens in it. And the United States would be better off without it.

August is when the atomic bombs dropped on Hiroshima and Nagasaki, when Anne Frank was arrested, when the first income tax was collected, when Elvis Presley and Marilyn Monroe died. Wings and Jefferson Airplane were formed in August. The Sonny and Cher Comedy Hour debuted in August. (No August, no Sonny and Cher!)

I am sick. I woke up yesterday with a fever, soar throat and massive headache. This has continued right into my birthday. Trying my best to put on a brave face but really just want to crawl back into bed and sleep the day away. So much for having a jolly good time on my 37th birthday. Maybe next year.

I know my last post was about pinching my pennies, but I'm seriously considering booking a vacation. I haven't had a proper one all year.

I did have a week off in February when Airport Guy came to visit me, however, we spent that mostly on the go, so it wasn't exactly restful. And the demands of the job plus the stress of dealing with the house purchase makes me just want to leave it all behind and head to someplace warm for a week of genuine relaxation.

However, deep down I know I really can't afford to do that right now. I have to stick around to answer queries and basically help move the house purchase along. I so can't wait for this to be over. I know it will be all worth in the end, but the idea of chucking my remaining items in storage and running off for a year of travels is really tempting. I am beyond exhaustion.

On a positive note, my birthday is only two days away. Yeah me!

As the close date on the house draws near, the financial impact on my bank balance is causing my anxiety level to increase. Now I have the funds in hand to pay deposit, stamp duty, legal fees, bank fees and even purchase a few new appliances. However, once those monies are withdrawn, the amount of liquid assets available will be somewhat limited. I won’t starve or anything but the next few months are going to be really tight while I work on rebuilding my emergency fund. Heck, I might even have to start bringing my lunch to work. Goodness! This is so not going to be fun. Oh well -- All in the name of getting on the crazy London property ladder!

Good news! I finally have the property report and other assorted documents from my lawyer for the house I'm trying to purchase. Plan is to promtly returned the signed contract for processing -- so God willing, I should be in the property in a matter of weeks. Yeah me!

Rampant inflation is putting basic services for worker-bees like me out of reach. Case in point, dry cleaning. I took three suit jacks and a pair of pants to the dry cleaner near Queens Park Station and was billed £25 ($50 US). At these prices, I'll be paying for the items which I purchased in the US several times over in the span of just one year. This is just outrageous!

In fairness, I should point out that in Wimbledon where I use to live, I would pay £14 ($28 US) to dry clean those same four items. That is still expensive but it is a lot more reasonable. Thus if I planned to live in Queens Park permanently and I wanted to leave the corporate world behind, I would consider setting up a dry cleaning business in the area.

Granted overhead cost in the UK are more expensive that US, but the mark-up for dry cleaning services are just out of whack. Thus there is room in the market for a dry cleaner who would continue to provide a high level of service at a more economical price.

In an effort to move the house sale along, I have taken to calling my lawyer each day. Yesterday I phone him twice. He returned the call and then proceeded to preference the conversation by saying it’s a courtesy call as he has nothing new to report.

I wanted to yell and scream obscenities down the phone but I reframed from doing so as I still need his help to close the sale.

That said, I really just don’t understand why the process of purchasing a property in the UK needs to take 3-4 months once an offer has been accepted. In the US, you get things done in about 3-4 weeks. Other colleagues tell me its the same for Australia. Here the attorneys seem to want to drag things out for months on end.

It’s all so f@$king annoying since less than two weeks after my offer was accepted the bank had approved my loan and all the relevant searches were run. Thus, any queries that came as a result of the search should have long been answered.

New goal is to have sale complete before my birthday. Of course this is only 10 days away so I just might have to change my mind about screaming obscenities. This tactic seems to work for a colleague who is also undergoing a similar hellish experience trying to get on the London property ladder.

When I moved to London over two years ago, I couldn’t wait to explore continental Europe. So far I have visited five countries: Spain, the Netherlands, Chez Republic, France & Italy. Next up is probably Germany as one of my university friends sent an email inviting me to come visit her and hubby who now live in Kaiserslautern. I can’t wait.

However, more and more, I’m thinking beyond Europe. On list of personal goals I had set for myself back in 2005 was to visit Australia. However, while I still want to go, it all seems a bit too tame.

Meaning, I’m thinking of planning a trip for sometime in 2008 to somewhere in the Middle East or better yet somewhere in Asia. Quite a few of my colleagues have recently come back from trips to places like Turkey, Thailand, Indonesia, etc. and it all looks so exotic and inviting.

However, whereas I wouldn’t think twice about booking a trip to some European city on my own, I don’t think I’m brave enough to do solo travel in the Middle East or Asia. So will be looking for someone to join me.

Of course, this might all be a moot point if I’m too house poor to seriously consider travelling in 2008.