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    • XSpender
    • By XSpender 10th Oct 15, 2:58 PM
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    XSpender
    XSpender Speeds it Up - £0 to £60k in 27 months
    • #1
    • 10th Oct 15, 2:58 PM
    XSpender Speeds it Up - £0 to £60k in 27 months 10th Oct 15 at 2:58 PM
    I re-read my old diary recently and realised how much things have changed for us financially in the last 12 months. My old diary didn’t seem to fit the bill anymore so I have started a new one.

    Old diary here: http://forums.moneysavingexpert.com/showthread.php?t=4624903

    Bit of background:
    We have lived here nearly 10 years and have an IO mortgage. Despite being on the SVR for the last 5 years we have only OPd a few hundred pounds due to redundancies, a mountain of debt (now paid off) and other excuses. There has always been a niggle at the back of my mind about only paying the interest, even when we couldn’t afford to do anything else, and when our circumstances changed for the better and we really would have liked to move house we couldn’t because we had no equity/savings.

    Last year I was made redundant (again), took a planned 6 months off and started a great new job on double the salary I had before. We started saving a little, had some great holidays and did some small but much needed improvements to our home. Unfortunately there has been some lifestyle creeping going on and we have not saved anywhere near what we said we would, our original plan was to save all my income!

    Our Goal is to save/OP £60,000 by the end of 2017:
    We are undecided if we will move house or extend. Without the money saved to do either our decision is still no decision. At the moment we are leaning towards staying/extending as we love where we are and have great neighbours but do not have enough livening space. An additional £60k of savings/equity would provide us with a good deposit on our next home or fund the extension and reduce our mortgage.

    We do have a small secured loan and credit card balance outstanding. The loan is so near to the end of the term the monthly payment is just about all capital coming off each month. I will chip away at the CC (with bonuses) and this will be cleared by 1st Feb. I have realised to make headway and to keep DH motivated we need to keep growing the savings balance, clear our remaining debt but still be able to save to pay for the holidays. My biggest motivator is starting to pay proper mortgage payments like a grown up.

    Plans:
    We are planning to live on my income (which tends to be the same each month give or take £20) and use all of DH income (which fluctuates due to bonuses) to overpay the mortgage, pay for holidays, Christmas and save towards the move/extension. There is some wriggle room in my half of the budget so we can still have the odd meal/family day out, activities for DS and a few small treats. Everything is budgeted for using YNAB.

    Steps Completed since September 1st:

    • Made full capital and interest payments to our IO mortgage to clear it by the end of the original IO term (16 years) approx. £610/month OP.
    • Set up a regular saver for the maximum allowed per month
    • SO to ISA
    • SO to holiday savings account (1st deposit made October)
    • Savings for Christmas put aside
    • Reduced Christmas budget/number of people buying for
    • Funded small emergency fund (no big emergency fund as mortgage overpayments can be drawn down in 3 days and I would rather the money was working while there is no emergency). This has been in place for about 4 months and not touched so far.
    Last edited by XSpender; 10-10-2015 at 3:01 PM.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
Page 12
    • XSpender
    • By XSpender 21st Sep 16, 1:29 PM
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    XSpender
    I have received the change in terms letter from my employer and my basic has gone up to what my basic plus monthly bonus was and my annual bonus is now paid 6 monthly. Overall I will get paid the same but an increase in car tax may mean I come out with slightly less than before.

    DH and I haven't discussed all the financial plans up until the end of 2018 as yet as we have been in different locations but I will share the plan for the rest of the year.

    Financial Plan 2016

    1)Maximum amount to regular saver Sept- Yes, Oct, Nov and Dec

    2)Use DH 2 bonuses remaining in 2016 to finish kitchen refurb and makeover DS bedroom. This will be tight as we are now paying for some of the work to be done by tradesmen due to lack of time and skill!

    3)Reduce supermarket spending by £150/month; it's ridiculous for 3 people!

    4)No extra payments to loans/CC

    5)Apply to go on a water meter - hoping for minimum £10/month saving Done. Don't require a water meter as usage low but restructured DD to save £8 this year and £16 next

    6)Cancel 2 x annual subscriptions saving £135 p.a. (both next due May 17) First one done for £20

    7)Cancel 3 other DDs saving £70/month one from Oct, 2 from Nov

    8)Do not add to CC debt at Christmas especially as we are entertaining whole family, have a huge house to decorate and DH likes to get a decent (meaning expensive) present

    9)Raise an additional £250 savings for the ISA through TTs, TCB, sales, vouchers etc.

    Not adding to the cards at Christmas and cutting the food budget will be the hardest to achieve. I do have some money put aside for gifts and we have agreed not to buy for DM and stepdad since last year (although I will get them a token present) and only have the outlaws, 2 children and a small gift for a friend to buy for excluding DS, DH and me. Oh and the dog always gets a treat

    We bought some tickets a while ago to see a favourite artist in London in November and, although I can cover the accommodation with free hotel nights I have earned, the train tickets would be almost £300. Add to that the cost of food and transport while we are there and it is just too expensive. I am not sure how I can sell the tickets (they cost £57) but I would rather take a hit on them than spend £300 getting the venue.
    Last edited by XSpender; 23-09-2016 at 11:20 AM.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • Tropically
    • By Tropically 21st Sep 16, 2:56 PM
    • 25 Posts
    • 47 Thanks
    Tropically
    You could try StubHub to sell the tickets. There are other similar providers. I have also just sold via gumtree and paypal, but much riskier.
    • XSpender
    • By XSpender 22nd Sep 16, 4:10 PM
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    XSpender
    Thanks Tropically, I will have a look at StubHub.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • newgirly
    • By newgirly 23rd Sep 16, 8:52 AM
    • 5,079 Posts
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    newgirly
    £300 for train tickets
    MFW 21
    Target for 2016 £30,000 \ £72,350.11 paid so far

    Mortgage £63,080 5 yrs 8 months left. Total owed £92,893.96. Fridge fund £0

    Weight loss 2016 - 17.25 lb lost 40lb target
    • Pearla*Merle
    • By Pearla*Merle 23rd Sep 16, 9:17 AM
    • 1,483 Posts
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    Pearla*Merle
    A railcard might help bring the cost down? Often it can pay for itself instantly - there are 'two together' ones now & family/group discounts. Worth looking on the actual train company's website as well (not sure where you're going from?) as they often have discounted advance tickets.

    Also, if you're going from a station in the middle of the country it's worth looking at different companies & nearby stations as cross country trains tend to be on expensive side but east coast or other Virgin trains can be cheaper. I used to live in the north but we would avoid our local mainline station and travel 30 mins to Doncaster to have the option of other trains. Annoying but it did save many £££s Also check out the Split Ticket app, it's on MSE somewhere, that might help?
    a penny picker upper. every penny's a prisoner!
    £26.65 til OnePoll payout! Round six! | Save £1,001/£15,000
    Normality is a paved road; it's comfortable to walk, but no flowers grow on it.
    Whatever you're meant to do, do it now. The conditions are always impossible.
    The only thing you absolutely have to know, is the location of the library.
    • XSpender
    • By XSpender 23rd Sep 16, 11:17 AM
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    XSpender
    Thanks for the suggestions P*M I will have a look at different options for the train. The £300 was for 2 advance returns for Newcastle to Kings Cross! We could always drive but it will mean finding a hotel with parking which will mean additional transport costs to get there and back.

    I rang the water company and they do not believe I will be better off on a water meter. It appears my DD is for 8 months water over 6 months and then 12 months over 10 payments. I have not changed water companies and have paid over 12 months for the last 10 years so I don't know why they have changed the schedule when we moved.

    They have amended the bill stretching it back over 12 months so my monthly payment will reduce by £8.33 for the next 6 months then reduce by a further £8.46 going forward. That is much better as we were only paying £29 in the last houses and will be paying £33 from next spring. Even though we now have 2 more loos and an extra shower we are still flushing and washing the same number of times!

    I have paid £10 in £2 coins and a TT to the ISA this morning and last night I requested £22 from TCB. I didn't realise I had this much pending so it was a nice surprise when I logged in.

    I have missed one of my financial goals off the list when I copied it over which was to raise an additional £250 for the ISA from sales, TTs, vouchers and any other bits and bobs I can scrape up. I will be at around £90 when DH expenses and the TCB hits

    I am upgrading my phone this weekend which will be free but put the monthly bill up by £5 a month. I wouldn't change it but I only have 8GB of memory and I cant add any apps to the phone or take pictures or even do the most recent update due to lack of storage. I will get £55 for my phone which will go to the ISA pot and put me half way to my target :-)

    WFH today so will pop to the village soon to pick up a child's birthday card, visit the library (first time in a couple of years but encouraged to do so by the NST thread and fancy some audio books for my long driving days) and then do a small top up shop at Mr S using a couple of the vouchers DH got last week. Must remember to upload my shop and scan when I get back.

    Plans for the weekend, quiet one as DH has a chest infection but is at work most of the weekend and DS and I have a bit of a cold:

    Food shop Done
    LibraryDone, 6 books and 3 audio books for the car
    Shop and scan uploadDone
    Buy birthday card Done
    Cash out to go in card, repay friend for panto tickets, karate lesson Had enough in purse for card and lesson
    DS - swimming, karate, rugby All done
    DS - at party Done
    Take broken light back to B&Q and buy compost
    Complete Rugby forms and write cheque for subs Done
    Meal plan Done
    Washing, ironing and put away all laundry Done
    PT sessionDone
    Run/walk with dog Did a walk
    Make cheese scones to have with soup that needs using up
    Vacuum, dust and mop the floors - downstairs done

    Oh dear, that's quite a big list for a quiet weekend with the sniffles!
    Last edited by XSpender; 27-09-2016 at 10:33 AM.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • XSpender
    • By XSpender 24th Sep 16, 1:11 PM
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    XSpender
    Rushed home from DS activities only to realise the party is tomorrow not today! I now feel like I have a free afternoon as DS is chilling out watching TV at the minute and DH is still at work.

    Most of the washing is done and I will potter about and do a bit of housework.

    I am still feeling full of cold but DH is getting better

    I have charged up my fitbit and started logging my food in MFP again after I logged on and realised that this time last year I was half a stone lighter! No wonder I still cant get back in the jeans I bought last Christmas.

    Tried to TT 40p to the ISA but the minimum is £1 so will have to wait until I spend on the card again. I have requested the pack to sell my phone as I will be going for a new one today/tomorrow.

    It is freezing here today so have put the heating on for a bit. I am dreading to think what our fuel bill will be next year as I don't think it was that small at our last house and this is a big old house to heat compared with our small, modern, fully insulated old house!

    Right, best go do some housework as it will clock up some steps and I can tick it off my to do list
    Last edited by XSpender; 24-09-2016 at 1:13 PM.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • Suffolk lass
    • By Suffolk lass 24th Sep 16, 2:34 PM
    • 758 Posts
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    Suffolk lass
    Rushed home from DS activities only to realise the party is tomorrow not today! I now feel like I have a free afternoon as DS is chilling out watching TV at the minute and DH is still at work.

    Most of the washing is done and I will potter about and do a bit of housework.

    I am still feeling full of cold but DH is getting better

    I have charged up my fitbit and started logging my food in MFP again after I logged on and realised that this time last year I was half a stone lighter! No wonder I still cant get back in the jeans I bought last Christmas.

    Tried to TT 40p to the ISA but the minimum is £1 so will have to wait until I spend on the card again. I have requested the pack to sell my phone as I will be going for a new one today/tomorrow.

    It is freezing here today so have put the heating on for a bit. I am dreading to think what our fuel bill will be next year as I don't think it was that small at our last house and this is a big old house to heat compared with our small, modern, fully insulated old house!

    Right, best go do some housework as it will clock up some steps and I can tick it off my to do list
    Originally posted by XSpender
    I have been getting round the TT issue by rounding down to the next £5 or £10 to make it a bit more worthwhile!
    MFiT T4 #2 Q2 update 10.11% after Q2
    Save £12k in 2016 thread #92 - so far £7,313/£10,000 (target inc from £6000 in Aug)
    OS Grocery Challenge budget of £3000 - 67.89/69.23% so far
    Reading and learning about investing... lots to learn and I am consciously incompetent
    • XSpender
    • By XSpender 24th Sep 16, 8:16 PM
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    XSpender
    That was down to the next £50 SL, I just need more patience. We have spent tonight so will have another look at the balance tomorrow.

    DH really wants to go to the London concert so we are going to drive and I will find a hotel with parking which my h0t3ls.com free nights will cover, stay one night and avoid the shops!

    Upgraded my phone today for a £5/month increase. The plan is that I keep this phone for at least 5 years. At last I can take some more photos and add my apps back on!

    I have spent 2 hours ironing today
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • Kittenkirst
    • By Kittenkirst 24th Sep 16, 9:48 PM
    • 718 Posts
    • 3,145 Thanks
    Kittenkirst
    Have you tried using the train ticket splitting principle? I've used it twice for long journeys this year and have saved over £90 from two trips- I just checked where the connections were and booked slightly later trains to allow for minor delays/coffee/lol breaks in stations

    Might be worth a look on the main site page?
    Deposit Savings: £10,000 paid 13/5/16

    Additional home buying savings: £3213.43/ £4500
    Regular saver (April 2017): £1800

    Buying a new build Sept 2016!
    • greent
    • By greent 25th Sep 16, 8:10 AM
    • 5,029 Posts
    • 50,127 Thanks
    greent
    Just caught up on your diary - I followed it initially but then - for some reason - it fell off my list Anyway - have now caught up on the move, change of job for you and OH - and it's all sounding fantastic!

    xx
    Repaid mortgage early (originally 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Net sales in 2016 £505.32/£500
    Sept grocery spends ??/ £350 NSDs 7/7
    • Suffolk lass
    • By Suffolk lass 25th Sep 16, 9:59 AM
    • 758 Posts
    • 12,452 Thanks
    Suffolk lass
    That was down to the next £50 SL, I just need more patience. We have spent tonight so will have another look at the balance tomorrow.

    DH really wants to go to the London concert so we are going to drive and I will find a hotel with parking which my h0t3ls.com free nights will cover, stay one night and avoid the shops!

    Upgraded my phone today for a £5/month increase. The plan is that I keep this phone for at least 5 years. At last I can take some more photos and add my apps back on!

    I have spent 2 hours ironing today
    Originally posted by XSpender
    I might have known you would have the TT better than I do, you may even have alerted me to it in the first place so forgive and Grandma sucking eggs moments!

    Just thinking about the event, you could drive to a park and ride near a convenient Station and just do a relatively short hop in to town - don't know the venue so not suggesting any but for example for the O2 we go to Chelmsford P&R - although it stops early, the trains to Chelmsford run late and changing at Stratford is easy for O2 (and a taxi back to the P&R is less than a tenner and under a fiver for the P&R) - there must be equivalents - I know the big car parks by Stations in the East too but maybe irrelevant to your event venue. Just a thought. PM me if you want any east-related info
    SL
    MFiT T4 #2 Q2 update 10.11% after Q2
    Save £12k in 2016 thread #92 - so far £7,313/£10,000 (target inc from £6000 in Aug)
    OS Grocery Challenge budget of £3000 - 67.89/69.23% so far
    Reading and learning about investing... lots to learn and I am consciously incompetent
    • XSpender
    • By XSpender 27th Sep 16, 10:31 AM
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    XSpender
    Thanks for the ideas SL. DH has downloaded the artist's new album. Poor reviews and he didn't enjoy it so we are up in the air again about if we will go or not.

    It took DH and I all weekend to shift the laundry mountain and apart from keeping on top of the kitchen and vacuuming downstairs no other housework got done.

    I have a lot of 'free' time this week as my old job winds down so will make use of being in the house to finish sorting out the office/bedroom and start the conservatory.

    The person who was doing our kitchen refurb next month has pushed us back a few weeks. Hoping it will still be done for Christmas. I need to source items for it so will be ready when he is. DH wants to look at curtains for the living room this week as we don't have any up at the back and it is getting a bit drafty. We are going to change the accent colour but will use the old cushions and rug in the TV room.

    £22.13 TCB received so moved that and a TT to the ISA. Have saved £45 extra in there since I changed our focus to saving first. When DH expenses are paid and I sell my old phone I will be over half way to my target DS karate cancelled for the next 3 weeks so will TT the £9 over too at the start of the month.

    I'm a bit worried about DH. He is very, very stressed since moving jobs 6 months ago. He has no experience of applying for jobs and has no CV. Writing his CV will be done when I have a week off at the end of next month.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • XSpender
    • By XSpender 27th Sep 16, 10:38 AM
    • 2,251 Posts
    • 23,570 Thanks
    XSpender
    This Week's To Do List
    1. Catch up with last weeks paperwork
    2. Prepare for next week
    3. Post off phone when pack arrives pack arrived but need to check phone is def unlocked before posting or will miss out on £20
    4. Mystery shop for work
    5. Order extra uniform for DS Done
    6. PT x 2 - 1 down, 1 to go
    7. Dog walk/run x 5 - 1 down, 4 to go
    8. All housework
    9. Book dentist for week off for all 3 of us
    10. Book nail/eye appointment on half price week
    11. Find some curtains/cushions for LR/DR ordered lots of samples
    12. Tidy and clean conservatory as turning into dumping ground
    13. Finish sorting out office/bedroom
    14. Log all meals and exercise into MFP - Done Tues
    15. Drink 2 litres of plain water per day - 1L Tues,
    Last edited by XSpender; Yesterday at 5:14 PM.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
    • XSpender
    • By XSpender 28th Sep 16, 5:13 PM
    • 2,251 Posts
    • 23,570 Thanks
    XSpender
    One lot of samples have turned up today and I love one of the fabrics for the kitchen roman blind as it goes perfectly with the colour I have chosen for the cupboards. I am gutted as I have only now realised that they don't do a matching curtain fabric that I need for the breakfast room (connecting archway). I will try ringing them tomorrow to see if there is anything they can do as they are a curtain company as well as a blind company.

    The fabric for DS blind is great too, even though he wasn't sure he liked it yesterday. Its completely different to the space wallpaper I was looking at! It's Sc1on Mr Fox in neutral and grey and I think it may suit him longer than the space theme one.

    I have also measured up for the made to measure curtains from N3st that we like the fabric for (waiting for a sample) and it works out that I can get the curtains for the 2 bays and the kitchen blind for less than the local curtain lady was going to charge just to make 3 pairs of curtains and 4 roman blinds excluding the 25m fabric I needed

    I'm impatiently awaiting pay day on Friday so I can complete this months budget and shuffle it all about

    £10 TT to the ISA as received a share dividend.
    MFiT #36 Goal £30,000
    2016 mfw #13 £20,000
    Save £12k in 2016 #89 Target £5000
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